Economy NEWS

UK starts talks on joining trans-Pacific trade bloc

The UK government is entering into negotiations to join a trans-Pacific free trade bloc that includes Canada, Japan, Mexico and Australia. According to the government, joining the Comprehensive and Progressive Agreement for Trans-Pacific … Continue reading “UK starts talks on joining trans-Pacific trade bloc”


Competition law suspended after panic buying of fuel

The UK government is suspending competition law in the fuel industry to help tackle shortages. It comes after days of long queues at petrol stations triggered by fears that a shortage of lorry … Continue reading “Competition law suspended after panic buying of fuel”


Call for windfall tax on ‘excess’ pandemic profits

A new report calls for a one-off windfall tax on companies that made “excess profits” during the pandemic. Campaign group Tax Justice UK says that a number of companies saw their global profits … Continue reading “Call for windfall tax on ‘excess’ pandemic profits”


Record jump in UK inflation as food prices rise

Price rises in the UK have shown the biggest increase in more than 20 years, official figures show. The consumer prices index, which measures the cost of a typical “shopping basket” of goods … Continue reading “Record jump in UK inflation as food prices rise”


BCC warns of ‘hiring crisis’ as job vacancies hit record high

Businesses in the UK are facing an “acute crisis” in recruitment, the British Chambers of Commerce (BCC) has warned. It comes as official figures showed that the number of vacancies over the summer … Continue reading “BCC warns of ‘hiring crisis’ as job vacancies hit record high”


UK employers raise prospect of pay cut for remote staff

One in 10 UK professionals could face a pay cut unless they return to the office, a survey has revealed. Jobs website CV-Library found that three-quarters (74.2%) of professionals think it is unfair … Continue reading “UK employers raise prospect of pay cut for remote staff”


CBI calls for urgent action over labour shortages

Labour shortages risk delaying the UK’s economic recovery after the pandemic, the CBI has warned. The business group said that labour supply problems could last for up to two years and will not … Continue reading “CBI calls for urgent action over labour shortages”


Support for circular economy could create thousands of jobs, says report

Transforming the UK’s approach to repair, reuse, recycling and remanufacture could create more than 450,000 jobs across the UK, according to a new report. The Green Alliance found that a new approach to … Continue reading “Support for circular economy could create thousands of jobs, says report”


UK manufacturing maintains growth despite rising costs

Manufacturers in the UK saw another month of growth in July but are facing continued supply problems and price rises, new figures reveal. The seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index (PMI) stood … Continue reading “UK manufacturing maintains growth despite rising costs”


UK economy set for fastest growth in 80 years

The UK economy is predicted to grow strongly over the next few months and return to its pre-pandemic peak by the end of the year, according to a new report. Thanks to the … Continue reading “UK economy set for fastest growth in 80 years”


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