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News : UK Economy Last Updated: May 11, 2015 - 9:14 AM

News : UK Economy

A new report, “The NHS: How does it compare?”, from the Economist Intelligence Unit (The EIU) has found that the UK has fewer doctors, nurses, hospital beds and crucial medical equipment than most other wealthy nations.

May 11, 2015 - 9:11 AM

News : UK Economy

Fluctuating markets and an unstable economy make cost control a challenging area for startup businesses. Avoiding unnecessary expense is one of the keys to reaching breakeven point quickly, regardless of whether that expense is large or small.

May 7, 2015 - 2:43 PM

News : UK Economy

UK "underlying growth has stopped" according to a commentary on this week's UK Budget by the chief economics commentator of the Financial Times.

Mar 20, 2015 - 7:33 AM

News : UK Economy

UK official data show that almost 41,000 London properties owned by foreign companies 90% are based in tax havens such as the British Virgin Islands, which do not have to disclose ownership information.

Mar 4, 2015 - 6:49 AM

News : UK Economy

Change in UK gross domestic product (GDP) is the main indicator of economic growth and is estimated to have increased by 0.5% in Q4 2014 compared with growth of 0.7% in Q3 2014. GDP in 2014 as a whole was up 2.6% from 1.7% in 2013.

Jan 27, 2015 - 2:08 PM

News : UK Economy

The Northern Ireland private economy contracted in December 2014 for the first time since June 2013 according to PMI (purchasing managers' index) survey data published Monday.

Jan 12, 2015 - 8:34 AM

News : UK Economy

The British government on Thursday published the Corporation Tax (Northern Ireland) Bill, which provides for the devolution of tax powers to the Assembly in Belfast and should allow Northern Ireland to set its own rate of corporation tax from April 2017 at a time of expected significant changes in international tax rules that will impact the Republic of Ireland's corporate tax regime.

Jan 9, 2015 - 8:33 AM

News : UK Economy

The UK Treasury on Wednesday published the details of its planned tax on multinationals' diverted profits, known as the 'Google tax,' despite criticism from business.

Dec 11, 2014 - 7:44 AM

News : UK Economy

The House of Commons Public Accounts Committee on Monday held a hearing on the role of accountancy firms in tax avoidance and PwC (PricewaterhouseCoopers), the Big 4 accounting firm, was represented by Kevin Nicholson, PwC head of tax in the UK and former HMRC (HM Revenue & Customs) tax inspector, who the chair charged with "selling tax avoidance on an industrial scale" and "indulging in scams."

Dec 9, 2014 - 2:57 PM

News : UK Economy

Cutting income inequality would boost economic growth, according to new OECD analysis. This work finds that countries where income inequality is decreasing grow faster than those with rising inequality. The research by the Organisation for Economic Co-operation and Development shows that the gap between rich and poor in the developed world is at the highest in 30 years.

Dec 9, 2014 - 2:40 AM

News : UK Economy

David Cameron, UK prime minister, has warned of the risk of another global recession, saying the “red warning lights are once again flashing on the dashboard of the global economy.”

Nov 17, 2014 - 8:06 AM

News : UK Economy

Data published today by the Office for National Statistics show that only 80,000 of the 1.1m UK jobs or 7% added since Q1 2008, were full-time employee positions.

Nov 12, 2014 - 4:21 PM

News : UK Economy

The number in employment in the UK grew to 30.79m in the July to September quarter and this was 112,000 more than for April to June 2014 and 694,000 more than for a year earlier. Pay including bonuses for employees in Great Britain was 1.0% higher than a year earlier. Pay excluding bonuses for employees in Great Britain was 1.3% higher than a year earlier compared with the 1.2% Consumer Prices Index inflation rate - this was the first time in 5 years that growth in average pay for UK workers overtook inflation, according to data from the Office for National Statistics.

Nov 12, 2014 - 3:20 PM

News : UK Economy

Germany and the UK have agreed to restrict 'patent box' tax incentives to local research and development (R&D) activity rather than benefitting from shifting patents and IP (intellectual property) that originate in other jurisdictions.

Nov 12, 2014 - 8:34 AM

News : UK Economy

German retailer Aldi plans to create 35,000 new jobs in the UK as it almost doubles the total number of stores over the next eight years.

Nov 11, 2014 - 8:01 AM

News : UK Economy

UK GDP (gross domestic product) growth slowed in the three months to September, with the economy expanding by 0.7%, the Office for National Statistics said Friday.

Oct 24, 2014 - 4:10 PM

News : UK Economy

UK retail sales fell in September, adding to signs that the economic recovery may be slowing. Also Thursday Tesco and Debenhams, the retailers, reported market stress, while Foxtons, the London estate agents, reported falling activity.

Oct 23, 2014 - 11:37 AM

News : UK Economy

A report on Tuesday that UK borrowing rose 10% more than planned in the six months to September suggests that the UK's recovering economy will not head off the need for further austerity while a promised tax cut in the next parliament maybe at risk.

Oct 22, 2014 - 7:06 AM

News : UK Economy

In the second part of this series, we continue to look at globalization and its malcontents against a backdrop reported on Sunday by The Observer newspaper that Britain is on the verge of becoming permanently divided between tribes of haves and have-nots as the young increasingly miss out on the opportunities enjoyed by their parents' generation.

Oct 20, 2014 - 8:17 AM

News : UK Economy

The Northern Ireland PMI (purchasing managers' index) for September shows a sharp increase in activity, which has risen in each of the past 15 months, with panellists linking the latest expansion to higher sales.

Oct 13, 2014 - 11:51 AM

News : UK Economy

UK economic growth has been revised up to 0.9% for the second quarter of the year by the Office for National Statistics (ONS), compared with a previous report of 0.8% - - this is 2.7 percentage points above the level seen in Q1 2008, immediately prior to the economic downturn.

Sep 30, 2014 - 4:27 PM

News : UK Economy

London has become the world's most expensive city for companies to locate employees, overtaking Hong Kong, which had previously topped the ranking for an unbroken five year period, according to latest analysis from international real estate adviser, Savills. New York and Paris complete the pack of four leading cities, where the combined costs of renting residential and office space top US$100,000 per employee per year. Living and working costs in London have jumped almost 40% since 2008 in dollar terms while of the top 12 cities, only Rio de Janeiro, at 86%, and Sydney, up 58%, have climbed more over the period.

Sep 24, 2014 - 6:08 AM

News : UK Economy

UK retail sales were up 1.3% on a like-for-like basis from August 2013, when they had increased 1.8% on the preceding year. On a total basis, sales were up 2.7%, against a 3.6% rise in August 2013. This is the best performance since January, excluding Easter distortions.

Sep 9, 2014 - 8:10 AM

News : UK Economy

The UK economy added more net jobs in the past 4 years than the rest of the EU combined according to data which coincided with news Wednesday from the Office for National Statistics that the 2009 recession was not as bad as previously thought while the subsequent recovery was stronger than previously believed.

Sep 4, 2014 - 4:31 AM

News : UK Economy
The UK revenue agency on Tuesday is due to announce stiffer penalties for offshore personal tax evaders after raising £1.5bn in revenue through increased payments and penalties over the last two years.
Aug 19, 2014 - 7:56 AM

News : UK Economy

Last Friday it was reported that annual UK GDP (gross domestic product) growth in the second quarter was 3.2%, up from its first estimate of 3.1% in July, just a day after Eurostat reported that Eurozone growth had stagnated in the second quarter while the German and Italian economies had shrunk. With the UK economy back as an economic star and unemployment dropping by 437,000 over the past year, how has the performance compared with other European economies since the launch of the euro in 1999?

Aug 18, 2014 - 5:36 AM

News : UK Economy
The International Monetary Fund (IMF) said on Monday that the UK pound was “overvalued” and preventing the rebalancing of the economy away from a reliance on spending and imports.
Jul 29, 2014 - 3:02 AM

News : UK Economy
UK profit warnings from listed companies in the first half of this year have been at the highest since 2011, and despite the recovery, stagnant real earnings and the rising value of sterling are key factors.
Jul 28, 2014 - 7:14 AM

News : UK Economy
UK GDP (gross domestic product) increased by 0.8% in Q2 2014, the second consecutive quarter on quarter increase of 0.8%. GDP was 3.1% higher in Q2 2014 compared with the same quarter a year ago. The economy has passed its pre-crisis 2008 peak.
Jul 25, 2014 - 3:45 PM

News : UK Economy
The increasing importance of the foreign student sector in Prime Central London (PCL) has been confirmed today, as London Central Portfolio, which specialises in investments in the Westminster and Kensington and Chelsea boroughs of Central London, publishes its results from their annual lettings audit.
Jul 21, 2014 - 12:58 PM

News : UK Economy
Annual investment figures from UK Trade and Investment (UKTI) for 2013 to March 2014 show that the UK attracted 14% more projects than last year (2012 to 2013). This is supported by external independent sources, such as EY, who have confirmed that the UK remains the number 1 destination in Europe for foreign direct investment projects.
Jul 21, 2014 - 7:30 AM

News : UK Economy
In the US total employment in June 2014 was at the same level as it was in December 2007 when the recession began while the UK added almost 1.3m jobs since late 2008 but a small percentage has been in full-time employee numbers.
Jul 18, 2014 - 7:35 AM

News : UK Economy
Data from the UK Office for National Statistics (ONS) published Wednesday showed that the proportion of the population aged 16 to 64 in work reached 73.1% in the three months to May, a rate that was only previously matched in 2004-5 and in 1974. Earlier this month, the US Bureau of Labor Statistics reported that the participation rate was stable at 62.8% in June -- the lowest since December 1978 - - at time when the number of women entering the workforce was rising.
Jul 17, 2014 - 8:02 AM

News : UK Economy
In another major blow to international personal tax evasion, the names of over 20,000 wealthy offshore clients of a private bank in the Jersey island tax haven, have been leaked to the International Consortium of Investigative Journalists.
Jul 9, 2014 - 8:02 AM

News : UK Economy
UK house prices have overtaken their 2007 peak, with the annual growth in home prices rising to to 11.8% in June from 11.1% a month earlier.
Jul 2, 2014 - 7:53 AM

News : UK Economy
As strong output growth continues and rising business investment supports the sustainability of the recovery, the UK economy has continued to grow briskly in the second quarter, according to the latest CBI growth indicator, which is produced by the UK's top business lobby.
Jun 26, 2014 - 3:26 PM

News : UK Economy
The UK unemployment level fell by 161,000 to 2.16m in the three months to April, bringing the unemployment rate down to 6.6%. Meanwhile UK employment rose again at a record pace in the three months to April but average earnings growth fell substantially below inflation.
Jun 11, 2014 - 2:05 PM

News : UK Economy
New figures published Tuesday show that HM Revenue & Customs (HMRC) secured a record £23.9bn in additional UK tax revenue over the2013/2014 fiscal year as a result of increased activity, in particular against tax dodgers.
May 28, 2014 - 7:34 AM

News : UK Economy
The latest ONS (Office for National Statistics) data shows the highest recorded number of overseas visits to the UK since 1961. There were 32,813,000 visits to the UK in 2013, a 5.6% increase since 2012. Over the same year, spending by overseas visitors increased by 12.7% to £21,012m. The number of visits to London in 2013 was the highest since 1961, with half of all visitors to the UK visiting London. There were 16.8m overseas visitors to London in 2013 and they spent £11,256m.
May 12, 2014 - 3:34 PM

News : UK Economy
The UK economy grew by 0.8% in the first quarter (Q1) of 2014, according to data published Tuesday. The Office for National Statistics (ONS) said the economy is now 0.6% smaller than its 2008 peak.
Apr 29, 2014 - 11:21 AM

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