The Bank of England has announced a further increase in its base interest rates and issued a stark warning on the UK economy in the near-future. Interest rates have increased by a further 0.25 percentage points to 1%, the highest level since 2009 at the height of the global financial crisis. The … [Read more...]
News for: General Business
Reforms planned to better protect shoppers online
Planned reforms to protect shoppers online have been announced that will include banning fake reviews and making it easier for customers to end subscription services. Under new rules proposed, it will become illegal to commission or offer fake reviews. Review sites hosting customer reviews must … [Read more...]
Increased Employment Allowance comes into effect
A £1,000 increase in the Employment Allowance, the amount smaller firms can claim to reduce National Insurance Contributions (NICs), has come into effect from 6th April. The Employment Allowance has risen from £4,000 to £5,000, as announced in the Chancellor’s Spring Statement. The increase is … [Read more...]
Covid-19 insolvency measures lifted as pandemic business support winds down
Temporary insolvency measures put in place during the Covid-19 pandemic will be lifted from 31st March 2022 as the remaining pandemic support schemes are wound down. Measures were introduced as part of the Corporate Insolvency and Governance Act 2020 to limit the impact of Covid-19 related … [Read more...]
Fuel duty cuts and changes to NI threshold among Rishi Sunak’s Spring Statement announcements
Chancellor Rishi Sunak has announced a cut to fuel duty and an increase in the NI payment threshold among measures to ease the impact of the rising cost of living in his Spring Statement, delivered to Parliament on Wednesday 23rd March. Addressing colleagues in the House of Commons, Mr Sunak … [Read more...]
North-west leaders react to 2022 Spring Statement
Business and political leaders across the North-west have largely welcomed measures announced in the 2022 Spring Statement, but also called on the Chancellor to do more to address the rising cost of living. On Wednesday March 23rd, Rishi Sunak announced changes to National Insurance thresholds, … [Read more...]
Chancellor’s Spring Statement expected to address inflation, now at 6.2%
The Office of National Statistics’ (ONS) Consumer Price Index (CPI) has revealed a 6.2% rate of annual inflation, ahead of Chancellor Rishi Sunak's upcoming Spring Statement. The latest ONS data puts inflation at its highest level since 1992, up from last month's previous thirty-year high of … [Read more...]
Bank of England base rate rises to 0.75%
The Bank of England has elected to raise its base interest rate to 0.75%, the second consecutive increase in 2022. The 0.25 percentage point rise restores interest rates to their pre-pandemic level, and the joint highest since March 2009 at the height of the credit crunch. The decision to … [Read more...]
Senior promotion announced at Wilmslow fitness brand
Wilmslow headquartered health club brand, Total Fitness, has announced the promotion of Tom Rayner to Corporate Development Director. Rayner will take up the newly-created role to oversee corporate strategy at the health club chain which operates 15 sites in the North of England and Wales. His … [Read more...]
Council agrees four-year balanced budget
Cheshire East Council has agreed a new four-year balanced budget that will see the borough increase spending on services by £16.6 million in coming year. The new budget will include increased investment into children's and adult's services, as well as commit to £19 million in road maintenance … [Read more...]
North West to see record year of equity investment
A new report from the British Business Bank has found that the markets conditions are ripe for the North West to see record levels of equity investment in 2022. The British Business Bank this week published results of its eighth annual Small Business Finance Market 2021/22 survey which found the … [Read more...]
January NatWest PMI Survey reveals business confidence high in the North-west despite Covid-19 disruption
Business confidence in the North-west has risen according to NatWest’s January Purchasing Manager’s Index (PMI) survey, despite the region seeing the slowest economic growth in a year, due to Covid-19 disruption from staff absences and rising inflation and supply challenges. The high-street bank … [Read more...]