Money in your pocket: UK salaries set to increase in 2019 November 22, 2018 Workers in the UK are expected to receive a 0.8 per cent real-term salary increase in 2019, double the increase received in 2018. The average UK private sector worker will receive an extra £20 per month or £237.35 per year before tax. This follows a better-than-expected salary increase for UK workers in 2018 of 0.4 [...]
OECD: Global growth slows due to US-China trade war and political uncertainty November 21, 2018 Trade conflicts and political uncertainty have sparked a global growth slowdown, according to the Organisation for Economic Cooperation and Development's latest economic outlook. The OECD lowered its forecasts for 2019, saying global GDP would grow 3.5 per cent, down from its previous forecast of 3.7 per cent, and that growth in 2020 would remain at 3.5 [...]
Brussels moves to issue sanctions against Italy over budget failure November 21, 2018 The ongoing battle between the European Commission and Italy has deepened this morning, after Brussels said it will look at imposing a fine on the country over its failure to submit a budget proposal within EU rules. The commission said it will now open a "debt-based excessive deficit procedure" (EDP), after it ruled that Italy's revised [...]
Pub chain Marston’s raises a toast to solid profits and record revenues after a bumper World Cup summer November 21, 2018 Pub owner Marston’s annual results were boosted by England's long run in the summer's World Cup, it said today, but it will open fewer pubs next year in the face of economic uncertainty. The figures Marston's reported a four per cent year-on-year rise in profit before tax to £104m for the year ending 29 September, meeting its [...]
October deficit reaches three-year high despite Hammond’s promise to end austerity November 21, 2018 The UK recorded a much larger than predicted deficit for October, according to official data released today, the same month in which the government signalled an end to austerity measures. Public borrowing rose to £8.8bn last month, up from £7.2bn in October last year, amounting to the largest October deficit for three years, according to [...]
DEBATE: As discounts get out-of-control, is there a case for retailers to ignore Black Friday altogether? November 21, 2018 As discounts get out-of-control, is there a case for retailers to ignore Black Friday altogether? Michelle Ovens, director of Small Business Saturday, says YES. Black Friday started off as a day when consumers could enjoy making great purchases, but now it has just become a day for deep discounting – and that is incredibly damaging to small [...]
Life under Network Rail offers a glimpse of the future if Corbyn were left in charge November 21, 2018 The shambles that is Network Rail continues to blight our lives. City PM readers may have experienced the cancellation of many services into Waterloo on Monday, due to engineering works overrunning. Even the best-laid plans can go astray. But this week was not just a one-off event. It seems to be a permanent feature of [...]
Manufacturing activity bounces back after poor October showing, but Brexit doubts remain November 20, 2018 Manufacturing activity picked up in the quarter to November, as the industry rallied after a disappointing October report, according to the latest statistics from the Confederation of British Industry (CBI). The organisation's latest monthly Industrial Trends Survey said it expected manufacturers to benefit from ongoing global economic expansion and a low sterling exchange rate. But weak growth [...]
Mark Carney says a no-deal Brexit would be the ‘worst outcome’ for the Bank of England November 20, 2018 Mark Carney today told the Treasury Select Committee that a "no-deal" Brexit would be the "worst outcome" for the Bank of England. The BoE governor said he expected May's draft withdrawal agreement to "support economic outcomes" and welcomed the transition period, which is due to end in 2020. The transition period begins on 29 March 2019 and lasts [...]
This government will use free enterprise as a force for good November 20, 2018 Last week, Cabinet Office staff visited a company called Clarity, a soap-making social enterprise established in 1845. In addition to sampling some of the excellent soap they supply to our department, they met the employees who make their products, all of whom have disabilities or long-term health conditions. Clarity is deeply committed to supporting and [...]
