UK property sales at new record as boom peaks

Official figures show that property sales in the UK hit a new record level in June, but analysts say it may mark the peak of the housing boom.

The boom was due to the rush to complete sales before the stamp duty holiday was set to end. This however has died down to levels before the pandemic.

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Electric cars: UK government urged to prevent ‘charging deserts’

The UK’s competition authority has called for the government to intervene in the electric car charger market to prevent “charging deserts” and increase availability in locations outside London, which remain underserved.

With the plan to reach zero carbon emissions by 2050, the need for more charging points is vital. Studies suggest that there are over 4,000 charging points in London but only 1,000 on-street chargers across the rest of the UK.

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Small business owners face increased national insurance contributions

The Treasury is debating whether to increase both employer and employee national insurance contributions by 1 percentage point – a penny in every pound that both small business owners and their employees pay, according to the Times.

An increase of just 1 percent for both employers and employees would raise £10bn a year for health and social care. Now that COVID restrictions are coming to an end and confidence is growing within businesses, the government have now dropped this bombshell causing outrage in small businesses.

Mike Cherry, the national chairman of the Federation of Small Business says “the last thing the government should be doing is increasing the risk of an unemployment spike just as the job retention scheme winds down.”

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Is my small business exempt if one of my staff is pinged?

The government has carved out two major exemptions for workers if they are pinged by the NHS Covid app and have to self-isolate. But is your small business exempt?

There are 16 sectors that may be exempt from self – isolation:

  • Energy
  • Civil nuclear
  • Digital infrastructure
  • Food production and supply
  • Waste
  • Water
  • Veterinary medicines
  • Chemicals
  • Transport
  • Medicines
  • Medical devices
  • Clinical consumable supplies
  • Emergency services
  • Border control
  • Defence
  • Local government

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Government ‘should write off’ £1.7bn of Covid loan debt

The need for the Covid loan debt to be scrapped is growing, with thousands of small businesses facing collapse if they must pay back their loans. Many small businesses have survived through the pandemic with these loans but are now facing the realisation of having to pay this money back.

Reports suggest if the government does not step in and write off these loans, many businesses will close in the autumn.

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