Both male and female employees will be offered full parental pay in the Civil Service. Deputy Prime Minister Nick Clegg will announce the plans this week, which are due to come in place from April 2015.
Interest rates could remain at the benchmark low of 0.5% for longer than previously expected, following a speech from the Bank of England’s chief economist. In his speech, Andrew Haldane claimed that the UK economy is “writhing in both agony and ecstasy”.
The level of income tax collected is likely to miss the governments target for this financial year, even though employment has risen.
The Office for Budget Responsibility (OBR) has warned that because of low income jobs and more people being self employed, and low wage growth, their revenues will be lower that expected.
Private sector pay will rise quicker than pay in the public sector, a report from the Institute for Fiscal Studies has said.The report shows the level of pay in the public sector is now at broadly the same level as it was before the recession in relation to the level in the private sector
The UK economic recovery is under threat from the potential of another Eurozone recession, chancellor George Osborne has warned. The chancellor said that the UK economy is at a critical stage in its recovery, and would be left vulnerable if the Eurozone suffers another financial crisis.
High streets are losing their number of shops dramatically, a study by PwC and the Local Data Company has shown. The study shows that 16 stores a day were closing in the first half on this year, and the rate of store openings fell to 15%.
Poundworld have been banned from making the “everything £1” claim by the Advertising Standards Authority (ASA), as some items were found to be on sale for as much as £8.99. They have been told that they could eventually be able to make the claim again, but only once they can prove that every item they sell is priced at £1.
Mobile phone firm Three has been fined £250,000 by Ofcom for failing to handle customer complaints properly.
Ofcom, the communications regulator in the UK, investigated Three as part of a wider monitoring and enforcement programme, which examines whether communications providers' are dealing with customer complaints appropriately and fairly
Problem debt cost the UK £8.3 billion through the damages it causes to peoples lives, a leading debt charity has claimed. StepChange debt charity has said that due the problem of debt damaging family life, mental and physical health, productivity and employment prospects it comes as a massive detriment to the UK economy through costs to the welfare state, the NHS, local government and other agencies.
The Tesco crisis has worsened as they have been forced to suspend a fifth senior executive, pending the results of their investigations. An investigation into the company’s finances was recently instigated by the discovery of a £250m black hole in their accounts.
