UK Interest Rate Raised To 4.25% By Bank Of England
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Analysis of UK Interest Rate Raised To 4.25% By Bank Of England
In an effort to slow rising prices, the Bank of England (BoE) has increased interest rates by one quarter of a percent from 4% to 4.25%. The decision by the Bank of England (BoE) to increase rates for the 11th time in a row comes on the back of recent figures showing that the cost …
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Resolution Foundation Says Budget May Boost Employment But Living Standards Still Falling
An impressively broad suite of policies was announced by Chancellor Jeremy Hunt in the Spring Budget to encourage more people into work, but Britain’s economy remains stuck in a ‘deep funk’, according to the Resolution Foundation think tank., Although the thinktank says the budget will likely succeed in boosting employment, it warned of a ‘disastrous …
Spring 2023 ‘Budget For Growth’ Overview
The Chancellor, Jeremy Hunt, announced a £27 billion transformation of capital allowances from April as he delivered a ‘Budget for growth’. The Spring Budget came on the back of an improved outlook forecast from the Office for Budget Responsibility (OBR). The OBR said it expects the UK to avoid a technical recession this year, with …
IFS Says Chancellor ‘Pulled A Range Of Policy Levers’ To Stimulate Growth
In response to Chancellor Jeremy Hunt’s 2023 Spring Budget speech, the Institute for Fiscal Studies (IFS) stated that a ‘whole range of policy levers’ were pulled in an effort to stimulate economic growth. The business group said in its initial response that the expansion of free childcare for children over the age of nine months …
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Limited Company Electric Car Tax Reliefs
April 2020 saw new company car tax rates come into effect that resulted in the rate of company car tax available on fully Electric Vehicles reducing from 16% to 0%. This rate increased to 1% in the 2020/21 tax year and then to 2% in the current tax year, a level it will remain at …