The Sunak government is considering banning the next generation from buying cigarettes British Prime Minister Rishi Sunak is carefully exploring measures to prevent the next generation from purchasing cigarettes. An inside source from the UK government revealed to the media that the Sunak team is conducting an in-depth study of measures similar to the anti-smoking …
The rate of increase in residential rents in the UK reached a historic high in August. The UK property rental platform Homelet has released its latest report on August’s rental data based on high-quality tenant data from over 4,500 rental agents in the UK. The report shows that in August 2023, the average rent in …
Commercial property taxes will increase by £400 million annually According to the new policy announced last year, starting from April 2024, the UK government will increase Business Rates based on the inflation data from September 2023. The government has stated that they will announce the increased tax rates in October, and it is currently estimated …
UK’s Resilience During the COVID Pandemic Recently, the National Bureau of Statistics released a series of revised Gross Domestic Product (GDP) figures for the UK. The data reveals that the UK economy performed better during the COVID-19 pandemic than initially anticipated, with a stronger recovery momentum than experts had predicted. The National Bureau of Statistics …
Inverclyde Rated as UK’s Most Affordable Homebuying Area A study has found that Inverclyde in Scotland is the most affordable place to buy a house in the UK, with house prices in Westminster far exceeding the wages of workers in central London. The UK’s largest mortgage lender stated that despite restrictions due to rising interest …
UK RICS house price gauge falls to lowest since 2009 as interest rates rise With interest rates hitting a 15-year high, last month saw the most widespread drop in UK house prices since 2009. Meanwhile, due to more landlords selling properties, rental prices achieved their largest increase since 1999. The Royal Institution of Chartered Surveyors …
Bank of England raises interest rates to a 15-year high of 5.25% In an effort to counteract stubbornly high inflation, the Bank of England (BoE) has once again raised interest rates from 5% to 5.25%, marking a 15-year high. The rate increase comes amidst concerns of a wider economic slowdown, with analysts urging greater caution …
Warwick Business School establishes new fintech centre £3 million of newly received funding will be used to establish the Gillmore Centre for Financial Technology, led by renowned academics and fintech business leaders. The centre will focus on developments in AI, machine learning, blockchain and cryptocurrencies. Read more here… Unexpected rise in mortgage approvals Despite predictions …
On June 22nd, the central bank raised its benchmark interest rate by 0.5 percentage point to 5%, impacting various financial products such as savings accounts and mortgage loans. Prior to this, in order to curb persistently high inflation rates, the central bank had been consistently raising its benchmark interest rate. The good news is that …
In recent years, the cost of accommodating refugees in British hotels has been steadily increasing, and the Treasury has been reclaiming hundreds of millions of pounds of UK aid spending in the form of value-added tax (VAT). The government claims that it has been paying VAT for the expenses of accommodating these refugees in hotels …
Hundreds of millions in UK aid returns to Treasury in VAT on asylum hotel bills Read More »