Recent news headlines relating to UK businesses, entrepreneurs, and sole traders.
The UK’s recovery from the Covid-19 pandemic continued for the third month in a row in July, although the economy has regained little more than half the ground lost since the start of the crisis. The office for National Statistics (ONS) reported gross domestic product (GDP) rose by 6.6pc in July compared with the previous … Read more
A raft of new measures will be required to boost Britain’s economy as it emerges from a temporary recovery resulting from huge government financial support and the relaxation of lockdown restrictions, according to a Bank of England policymaker. Michael Saunders, one of the nine members of the Bank’s interest rate-setting monetary policy committee (MPC), has … Read more
A defeat in court for mobile phone giant Vodafone could pave the way for a raft of legal challenges by landowners who host 5G phone masts. Telecoms providers such as Vodafone, who pay billions of pounds to landowners in rents every year at thousands of sites, were hoping to reduce their payments under the Electronic … Read more
Criminal gangs have been found to be exploiting loopholes in the £35bn business bounce back scheme, which could result in a huge hit for taxpayers, according to an investigation by The Mail on Sunday Although around 1.15m SMEs have borrowed up to £50,000 each under the scheme to keep their businesses afloat, the loans are … Read more
The Government expects the grants to help smaller businesses overcome the impact of the coronavirus pandemic in a timely manner. Thousands of small and medium-sized companies in England will be able to claim grants from £1,000 to £5,000 to purchase new equipment and upgrade technology and help them access professional, legal and financial advice. The … Read more
The digital infrastructure minister has warned that towns and villages are ‘missing out’ on superfast broadband and urges them to apply for £70 million of government funding. Matt Warman is encouraging rural communities to apply for high-speed broadband grants and take the opportunity to move out of ‘the digital slow lane’. The vouchers provide up … Read more
Economists are forecasting that the Bank of England could launch yet another stimulus package worth around £100billion before cutting interest rates to below zero. Although economists say interest rates are likely to stay at 0.1pc when the Bank meets this week, data firm Bloomberg has said the money markets anticipate a move to negative rates … Read more
Uncertainty underlined a raft of economic data published last week which casts doubt on how long the recovery will last. Despite the generally favourable view gained from the data in sectors such as manufacturing, retail, accounting and marketing, many economists believe the rebound from the pandemic could last just several months before coming to a … Read more
Amid calls for a radical overhaul of capital gains tax, a renowned think tank has advocated the abolition of duties on investment and property profits. The Institute of Economic Affairs (IEA), a free-market organisation, is preparing to lobby for root and branch reform of CGT after Chancellor Rishi Sunak commissioned a review of the levy … Read more
Small businesses in the hospitality and leisure sectors celebrated joyfully last Wednesday after the Chancellor announced the multi-billion pound giveaway in his mini-Budget. However, business experts warn that additional help is needed to support other sectors hit by the coronavirus downturn that are not included in Rishi Sunak’s £30bn rescue package. Although pubs, restaurants, hotels … Read more