Businesses urge government to make ‘urgent progress’ during upcoming Brexit talks

More than 100 UK businesses have signed a letter to the Brexit Secretary, David Davis, urging him to ensure that ‘urgent progress’ is made in the next round of Brexit talks. The letter calls for Mr Davis to make sure that transitional arrangements are secured. Signatories of the letter represent ‘businesses of all sizes, sectors [&hellip
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TUC calls for National Minimum Wage rates increases for younger workers

The Trades Union Congress (TUC) has urged the Low Pay Commission (LPC) to raise the National Minimum Wage (NMW) rates for younger workers. Young employees are ‘at risk of being left behind’ by the NMW, the TUC warned as it gave evidence to the LPC. Currently, workers aged between 21 and 24 are entitled to [&hellip
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New £10 note enters circulation

The new polymer £10 note has entered circulation in England and Wales. The note has been issued by the Bank of England (BoE) and depicts author Jane Austen on the back. It also includes ‘tactile’ features for the blind and partially-sighted – the first British banknote to do so. New £10 notes will enter circulation [&hellip
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Chancellor announces Autumn Budget date

Chancellor Philip Hammond has announced that he will deliver the Autumn Budget on Wednesday 22 November. The Autumn Budget will be the second Budget to be delivered this year, and will set out the government’s plans for the UK economy, based on forecasts from the Office for Budget Responsibility (OBR). It will also outline any [&hellip
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Government publishes Finance Bill 2017-19

The government published Finance Bill 2017-19 on 8 September, reintroducing key legislative measures that were previously dropped from Finance Bill 2017 as a result of the snap General Election. The reduction in the pensions money purchase annual allowance (MPAA) was included in the Bill, which has fallen from £10,000 to £4,000. This measure will be [&hellip
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Allow older individuals to fund business start-ups from pension pots, urges IoD

The Institute of Directors (IoD) has urged the government to permit older individuals to withdraw money from their pension pots in order to fund a new business. The business group is calling on the government to allow older people to make limited, tax-free withdrawals from their personal pension pots to finance start-ups. Such withdrawals would [&hellip
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UK businesses ‘hit by rising employment costs’, BCC finds

A survey carried out by the British Chambers of Commerce (BCC) has revealed that four in five businesses in the UK have been affected by rising costs generated as a result of changes to employment legislation. In its Annual Workforce Survey, which garnered the opinions of more than 1,400 UK businesses, the BCC found that [&hellip
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Data reveals significant fall in amount saved in cash ISAs

The amount of money savers put into cash Individual Savings Accounts (ISAs) has fallen, data published by HM Revenue & Customs (HMRC) has revealed. During 2016/17, £39.2 billion was saved using cash ISAs – a significant fall when compared to 2015/16’s figure of £58.7 billion. The data also revealed that the amount invested in stocks [&hellip
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Economists rule out interest rate rise

A survey carried out by the BBC has revealed that economists in the UK do not expect an interest rate rise until ‘at least 2019’. Economists believe that the Bank of England’s Monetary Policy Committee (MPC) will not want to raise rates whilst Brexit negotiations are ongoing. The base rate currently stands at 0.25%. Half [&hellip
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Raising top tax rate could generate ‘uncertain’ consequences, IFS states

An analysis carried out by the Institute for Fiscal Studies (IFS) has suggested that raising the higher income tax rate to 50% could create uncertain financial consequences for the Treasury. The IFS analysed the effects of the Treasury’s ‘short-lived’ 50% tax rate for higher earners, which came into effect in April 2010 and ended in [&hellip
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