OECD warns UK on course for biggest economic downturn

The UK economy is to suffer the biggest hit of all the G7 nations next year, according to a report from the Organisation for Economic Cooperation and Development (OECD).

The OECD forecasts…

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Chancellor launches financial sector reforms

Chancellor of the Exchequer Jeremy Hunt is set to unveil over 30 regulatory reforms to the UK's financial sector, the government has announced.

The Chancellor will set out plans to repeal,…

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UK business confidence plummets to 13 year low

The UK's business confidence has dropped to a 13-year low, according to a survey conducted by the Institute of Chartered Accountants in England and Wales (ICAEW).

The ICAEW's latest Business…

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Business groups welcome Spring Budget

The UK's business groups largely welcomed the measures taken in the Chancellor's Spring Budget.

The Confederation of British Industry (CBI) branded the Budget as a 'strong second act'

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PAC criticises government for billions lost to error and fraud

The Public Accounts Committee (PAC) has criticised the government for losing billions of taxpayers' money to fraud and error in pandemic support.

The Department for Business and Trade (DBT)…

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Energy suppliers urged to renegotiate fixed contracts for small businesses

The Federation of Small Businesses (FSB) has urged energy suppliers to renegotiate fixed contracts for small firms on market-peak tariffs.

Research carried out by the FSB revealed that many…

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South Yorkshire named as first UK Investment Zone

South Yorkshire has been named as the UK's first Investment Zone by Chancellor Jeremy Hunt.

The status could bring £1.2 billion in funding and see up to 8,000 new jobs created in the area,…

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Another million savers to be hit with tax on interest

The frozen Savings Allowance combined with rising interest rates will push over one million taxpayers into paying tax on their savings this tax year, according to research by investment platform…

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Government slow to recover over £1 billion Covid grant fraud

The government has been slow to recover losses of £1.1 billion from fraud and error in Covid grant schemes, according to MPs in the Public Accounts Committee (PAC).

The latest PAC report found…

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