Economy NEWS

HMRC to open new regional centres across the UK

The UK’s tax and customs authority HM Revenues & Customs (HMRC) announced on Thursday that it plans to open 13 new regional centres equipped with new digital technology and training facilities, as the next step in its … Continue reading “HMRC to open new regional centres across the UK”


UK deficit in goods and services narrows to £1.4 billion in September 2015

The Office for National Statistics (ONS) released its Statistical bulletin: UK Trade, September 2015 on Friday last week, which showed that the UK’s deficit on trade in goods and services was estimated to … Continue reading “UK deficit in goods and services narrows to £1.4 billion in September 2015”


British music artists contribute record £4.1 billion to UK economy in 2014

A new report published by UK Music on Thursday shows that in 2014, the music industry in the UK contributed GBP4.1bn to the economy in GVA (Gross Value Added). The annual UK Music Measuring … Continue reading “British music artists contribute record £4.1 billion to UK economy in 2014”


Company insolvencies in England and Wales continue to fall

The number of companies in England and Wales that became insolvent, which means being unable to pay debts and entering liquidation, administration or other company rescue process, has decreased year-on-year, according to the UK government’s Insolvency … Continue reading “Company insolvencies in England and Wales continue to fall”


Average London property prices rise to nearly £500,000 in September

Property prices in London are now considerably higher than the rest of the UK, according to the latest Land Registry House Price Index for September 2015 released on Wednesday. The average price of property in … Continue reading “Average London property prices rise to nearly £500,000 in September”


Construction and manufacturing performance weighs down UK economic growth in third quarter

Economic growth in the UK slowed to 0.5% in the third quarter this year according to the latest seasonally adjusted Gross Domestic Product: Preliminary Estimate, Quarter 3 (July to September) 2015 released by … Continue reading “Construction and manufacturing performance weighs down UK economic growth in third quarter”


British pensioners offered chance to top up State Pensions

The UK government’s Department for Work and Pensions (DWP) announced on Monday that people eligible to receive a State Pension before 6 April 2016 can increase their pension income by between GBP1 and GBP25 … Continue reading “British pensioners offered chance to top up State Pensions”


UK building rained off in August 2015

Output in the UK construction industry during August this year was estimated to have declined by 4.3% compared with July 2015 and was also down by 1.3% compared with August 2014, according to … Continue reading “UK building rained off in August 2015”


Bank of England’s Monetary Policy Committee votes to keeps UK Bank Rate at record low of 0.5%

Britain’s central bank, the Bank of England, announced on Thursday that its Monetary Policy Committee (MPC) has declared that the Bank Rate will be kept at a record low of 0.5% and will … Continue reading “Bank of England’s Monetary Policy Committee votes to keeps UK Bank Rate at record low of 0.5%”


UK new car registrations reach all time high for September

New UK car registrations rose by 8.6% in September, according to the latest figures from UK automotive industry trade organisation The Society of Motor Manufacturers and Traders (SMMT) released on Tuesday. SMMT data reveals … Continue reading “UK new car registrations reach all time high for September”


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