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The latest from Balance for Business

Hammond eyes Budget raid on freelancers

  The Sunday Times reports that Philip Hammond is considering a £1bn raid on freelance workers in a new blitz against “disguised employment” in the private sector. The mooted crackdown, which could be unveiled by the chancellor in next month’s Budget, could force businesses to add tens of thousands of self-employed staff to their payroll, driving up […]

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Wages beaten down by inflation

The ONS has revealed that wages fell in real terms by 0.4% in the year to April 2017, the first drop in three years. Although wages rose by 2.2% in the year, inflation grew by more, eroding any gains. However, it was not the case for everyone, with the lowest paid 10% of workers and […]

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Never a better time for tax reform, Chancellor

  The Telegraph’s Tim Wallace considers the challenges facing the Chancellor as he prepares the November Budget. Among a range of demands, Philip Hammond is facing calls for a radical overhaul of the tax and spending system. Jonathan Riley, head of tax at Grant Thornton, says: “Despite the political challenges, there should be quite a lot of […]

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Special “Brexit Investment Allowance”

Both the British Chambers of Commerce and the British Retail Consortium have urged Philip Hammond to postpone the annual uprating of business rates for the next two years to stimulate investment and raise productivity. Freezing business rates is just one proposal the BCC said could be funded by postponing planned cuts to corporation tax from […]

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Budget deficit for September falls

Britain saw its smallest budget deficit for any September in the last 10 years, according to ONS figures. Last month’s deficit stood at £5.902bn, down almost 11% compared with the same month last year, and well below the £6.5bn forecast by economists. The deficit for August was also revised down by about £1bn to £4.716bn. […]

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Industry predicts November rate rise as inflation hits 3%

Consumer price index (CPI) Inflation rose to 3.0% in September, increasing from 2.7%, according to ONS data released on the 17th of October. CPIH Inflation also rose to 2.8%, this term measures not only consumer price inflation but it included owner-occupiers and housing costs. This is the primary measurement for inflation because it shows a […]

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Confidence rises amongst SMEs

Latest research from Hitachi Capital Business Finance reveals confidence levels among small businesses have bounced back, following a dip during the General Election. However, the proportion of businesses making investments to help their business grow has dropped. In Q3 this year, 39% of SMEs anticipated either significant or modest growth in the next 6 months, […]

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Third of SMEs are changing strategy post-Brexit

Research from Albion Capital shows 35% of SMEs are changing their business strategy as a result of Brexit. The Albion Growth Report 2017 surveyed more than 1,000 firms and found that of those changing strategies because of Brexit, 21% are investing in new offices or existing operations outside of the UK. By contrast, fewer than […]

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Investors in Europe need to retain UK’s expertise

Chris Cummings, the chief executive of the Investment Association, outlines in the Telegraph why business needs an urgent agreement that there will be a period of implementation, or standstill, to ensure there is no cliff-edge effect when Britain leaves the EU in March 2019. He says agreeing that implementation period now will allow firms to push back […]

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UKEF announces further funding support for SMEs

UK Export Finance (UKEF) is launching a new partnership with five major high street banks to allow smaller businesses to access millions of pounds in government-backed trade finance. Click here for full article Click here for related articles

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