Government inaction on long COVID could cost billions

May 07, 2022

There are now more than a million workers missing from the workforce compared to pre-pandemic figures, according to a report published by the IPPR think tank.

About 400,000 of these are no longer…

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Chancellor cuts fuel duty in Spring Statement

Apr 05, 2022

Chancellor Rishi Sunak announced a 5p per litre cut in fuel duty for petrol and diesel in the 2022 Spring Statement.

The government says it is the largest ever cut on all fuel duty rates, which…

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Business groups give mixed response to Spring Statement

Apr 05, 2022

The UK's business groups gave a mixed response to Chancellor Rishi Sunak's Spring Statement speech.

Shevaun Haviland, Director General of the British Chambers of Commerce (BCC), said:

'The…

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OBR updates economic picture

Apr 05, 2022

In his Spring Statement speech, Chancellor Rishi Sunak responded to the latest forecasts as published by the Office for Budget Responsibility (OBR).

The OBR forecasts UK economic growth to be…

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Bank of England raises interest rates for third time in a row

Apr 05, 2022

The Bank of England has raised interest rates for the third consecutive time.

The Bank also warned that the Ukraine conflict could see under-pressure households hit with double-digit inflation…

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MTD for VAT brings in up to an extra £195 million in tax

Apr 05, 2022

Estimates show that up to £195 million in extra tax revenue has been collected via Making Tax Digital for VAT (MTD for VAT), according to research from HMRC.

The research, conducted by HMRC…

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CMA frees leaseholders from rising ground rents

Apr 05, 2022

Intervention by the Competition and Markets Authority (CMA) has freed more leaseholders from increasing ground rent terms that saw them trapped in homes they struggled to sell or mortgage.

Businesses…

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Student loan repayments for new borrowers to start at £25,000

Apr 05, 2022

The level at which students begin to pay back their loans will be lowered from £27,295 to £25,000 for new borrowers.

From September 2023, the interest rate on student loans will also be set…

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Spring Statement 2022

Mar 24, 2022

Introduction

Against a backdrop of rising inflation, Chancellor Rishi Sunak presented his first Spring Statement on Wednesday 23 March 2022.

In his Spring Statement, the Chancellor…

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