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UK Economy News

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Chancellor Warns Of Threats To Stability Of UK Economy

Chancellor George Osborne has said that the stability of the UK economy could come under serious threat in 2016. He said that this year is likely to be one of the toughest since the financial crisis, and that 2016 is “the year of mission critical”, rather than “mission accomplished”.

European Stock Markets Dive To 16 Year New Year Low

European stock markets record their worst start to the year since 2000, as weak data from China caused worldwide volatility. This is setback for investors who would have hoped that the new year would have brought an end to the turbulence experienced in Q3 and Q4 2015.

Cost Of Flooding Could Exceed £1.5 Billion

The cost of heavy flooding through the north of England could exceed £1.5 billion according to accountancy firm PwC.

Rail Companies Not Giving Enough Info On Refunds

Consumer watchdog Which? has claimed that rail companies are not giving customers enough information about refunds they can receive for delays.

UK’s Employment Rate Falls As Wage Growth Slows

The UK’s unemployment rate has fallen to the lowest level in nearly 10 years to 5.2% in the three months leading to October.

Average Rail Fares To Increase By 1.1%

Average rail fares are due to increase by 1.1% from the 2nd January 2016, the Rail Delivery Group (RDG) has announced.

ICO Looks Into 1000 Data Share Companies

The Information Commissioners Office (ICO) will be investigating 1000 companies that are involved in buying and selling data to ensure that they are acting within the law.

Young People To Be Poorer Than Parents

Young people may be poorer than their parents at every step of their lives, according to a new report from the Institute of Fiscal Studies (IFS).

EU Welfare Reforms Could Encourage Low Earners Not To Work

Government plans to stop EU migrants claiming in-work benefits would encourage some British workers to give up their job, according to some government officials. The prime minister is making welfare reform within the EU a key demand ahead of the proposed in-out referendum.

Government To Announce 30% Cuts To Four Departments

Chancellor George Osborne is set to announce spending cuts of an average of 30% for four government departments. The cuts will be introduced over the next four years and are set to affect the transport, local government and environment departments.

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