Bank of England is likely to pause interest rate hikes next year, as the cost of living crisis leaves Britain facing 'Mild Recession' Reports suggest that the way things are going, the UK could tip into a mild recession next year, meaning that The Bank of England needs to pause interest [...]
As the cost of living in the UK spirals, the Bank of England has raised interest rates to 1.25% – the highest rate for 13 years. It’s the fifth increase since December 2021 and will impact every part of the economy, from the housing market to pensions and savings. But increased [...]
UK inflation hits 9.1% as prices rise at fastest rate for 40 years The price of everything is rising at the fastest rate in 40 years, with food, energy and fuel costs continuing to climb. Inflation has hit 9.1%, the highest level since March 1982. Reports from The Bank Of England [...]
After successfully running Accsys Accountants in Maidstone for over a decade, I purchased the practice in Rochester 2 years ago to help modernise it and take the business forward. From 30th June 2022, will become part of the Accsys family and will be known as Accsys Accountants (Medway). We will continue to serve [...]
CBI calls for Cobra-style emergency committee for economy Recession 'a very live concern' as CBI outlines seven interventions, to boost growth before the autumn budget. With growing concerns, the economy won't make it to the autumn budget. Reports suggest that the CBI highly suggest that the government must take action to [...]
Businesses have not had an easy time in 2022, experiencing everything from supply chain disruption, energy price hikes, general inflation, and mass employee resignations. Today, 77% of SME leaders are concerned about the cost of living crisis. Add to that an almost-certain official recession this year, and the future doesn’t look [...]
In 2020, a survey of British workers found that 79% experience work-related stress–up from 58% in 2018. Stress is a part of life, but it makes sense that workers are feeling more burnt out than ever before. With no end in sight to the cost of living crisis and many people [...]
UK firms begin world's biggest four-day week trial - with no loss of pay A four-day week with no loss of pay is being trialled at dozens of companies across the UK from the 6th of June. Companies will still give employees 100% pay on the understanding that they will still [...]
The UK’s economic outlook for 2022 doesn’t make for happy reading. Consumer spending is slowing as the cost of living increases and businesses are also seeing expenses rise, a costly combination that looks set to worsen. The country has already experienced record-breaking inflation this year–reaching 9%, but expected to rise to [...]
Government U-turns on energy windfall tax To help fund this support, the government is introducing the Energy Profits Levy, a 25% surcharge on profits made by the UK oil and gas sector, which it is hoped will raise around £5bn over the next year. For the full story click here. This [...]
