Our chart this week looks at how the jump in annual inflation from 1.7% in September to 2.3% in October was (perhaps surprisingly) driven by falling energy prices.
Following the Autumn Budget, UK interest rates are expected to fall to their lowest level since May 2023. ICAEW’s Economies Director Suren Thiru discusses the implications, what you need to know about current economic conditions and key points to watch.
The third highest fiscal deficit for the first half of a financial year emphasises the weak state of the public finances ahead of the Autumn Budget next week, although updated GDP estimates resulted in debt falling back below 100% of GDP.
Confidence among UK businesses fell in Q3, according to ICAEW’s analysis, fuelled by record tax burden concerns and weaker export growth, as businesses grow cautious ahead of the Autumn Budget.
Households and businesses are keen to see a fall in interest rates before Christmas, but Bank of England’s Huw Pill warns against cutting ‘too far or too fast’.
The OBR’s latest fiscal risks and sustainability report projects that public debt could reach 274% of GDP in 50 years’ time, or 324% if likely economic shocks are included.
The UK economy enjoyed a strong first half of the year, but falling productivity suggests that significant structural challenges remain. ICAEW Economies Director Suren Thiru discusses the implications.
Running until 31 March 2026, the new Growth Guarantee Scheme aims to support small businesses by offering loans of up to £2m, with 70% government-backed guarantees.
UK inflation finally returns to target, but the economy flatlines as UK GDP was dampened by severe weather throughout April. ICAEW Economies Director Suren Thiru discusses the implications.
Our chart this week celebrates the launch of King Charles III banknotes by looking at the number and value of Bank of England banknotes in circulation, highlighting the continued popularity of the £20 note.
Significant challenges remain despite the UK’s exit from recession. Ahead of next month’s general election, ICAEW’s Economies Director Suren Thiru discusses the key points to watch.
Our chart looks at the projected state school population in England over the next six years, with an anticipated 10% fall in state nursery and primary school pupils implying school closures and mergers are on the way.
Contract cancellations and delays, higher costs and weaker consumer confidence lead to significant increase in companies warning about lower-than-forecasted profits.
The Bank of England’s Chief Economist lays out three key metrics for assessing when to shift the bank rate as it sets its sights on an inflation rate of 2% this year.
UK poised to emerge from recession as business confidence hits two-year high. However, emerging challenges may hinder progress. ICAEW’s Economies Director Suren Thiru discusses the key points to watch.
The UK’s recession appears to be ending with cuts to summer interest rate likely. ICAEW’s Economies Director Suren Thiru discusses the key points to watch.
Our chart this week looks at how retail sales have increased by 19.5% over the past five years, comprising a 1.4% fall in volumes and a 21.2% increase in prices.
Only a small improvement in the year-to-date deficit of £107bn reported in the penultimate monthly public finance release for 2023/24, over the same period a year ago.
The Bank of England Monetary Policy Committee held interest rates constant at its latest meeting, despite CPI falling to 3.4% in February and core inflation dropping to 4.5%.
While tax cuts will likely headline next week’s Spring Budget, debt markets will be questioning plans to reduce the deficit by constraining public spending.
The unwanted recession tag creates a headache for UK policymakers as the economy continues to struggle. ICAEW’s Economies Director Suren Thiru discusses the implications.
There were 294 profit warnings from UK-listed companies last year, with high interest rates and wavering consumer and business confidence among the key drivers.
The UK economy is struggling for momentum amid high interest rates, declining consumer activity and subdued business confidence. ICAEW’s Economies Director Suren Thiru discusses the implications.
Marginal lift in business confidence countered by effects of high interest rates and cost-of-living crisis, finds ICAEW’s gauge of sentiment for Q4 2023.
Our chart this week illustrates how core inflation has only dropped from 6.3% in December 2022 to 5.1% in December 2023, even as the headline rate has come down from 10.5% to 4.0%.
Another year of grim stagnation for the UK economy this year is likely as concerns over wider economic conditions outstrip the boost from lower inflation. ICAEW’s Economies Director Suren Thiru discusses the implications.
Economic conditions remain challenging despite a dramatic drop in inflation and a positive Autumn Statement. ICAEW’s Economies Director Suren Thiru discusses the implications.
Our chart this week takes a look at how UK public debt has exploded since the financial crisis to more than quintuple from £0.6trn in March 2008 to a projected £3.1trn in March 2029.
Companies need to ensure they are adequately explaining the impact of the ongoing economic uncertainties in their annual reports, the Financial Reporting Council (FRC) advises.
Our chart this week looks at how September’s inflation rate of 6.7% is made up by month, and why a big drop in the annual rate is predicted next month.
The recent financial crisis faced by Birmingham City Council, the administrative body of the UK’s second-largest city, has sparked important discussions about equal pay, financial management and organisational responsibility.
Many employees are struggling with the ongoing cost-of-living situation and the knock-on effects of this at work are cause for concern. How can employers offer their staff practical support?
Cyber security awareness month: cyber security has dropped down the priority list for small businesses during the cost-of-living crisis, but it would be a mistake to assume that smaller organisations aren’t at risk.
The pandemic, Brexit and the cost-of-living crisis are all having a profound impact on the charity sector. A revised edition of the Charity Treasurer’s Handbook offers updated guidance to chart a course through a charity treasurer’s responsibilities.
UK business confidence remains positive, but below pre-pandemic levels, finds ICAEW survey, as record high inflation and salary growth affect sentiment.
Inflation is finally starting to come down in the UK, but not as fast as hoped. That isn’t great news for pensions – but neither is it a complete disaster.
Our chart illustrates how ‘core inflation’, energy price rises, and food, alcohol and tobacco price inflation contributed to a lower than expected fall in the overall rate of inflation in April 2023.
A recent business poll conducted by the Chartered Institute of Internal Auditors has revealed a growing apprehension among chief internal auditors regarding financial, liquidity and insolvency risks.
An inflation rate of 10.1% in the year to March 2023 conceals a huge variation in individual price rises, as illustrated by this week’s chart on food prices.
