Inflation figures for January 2025 were released last week and showed a surprising jump to 3.0%, up from 2.5% in December. The Office for National Statistics (ONS) reported that the largest upward contribution to the change came from transport, and food and non-alcoholic beverages.
Latest figures released by the Office for National Statistics (ONS) show that average wages are continuing to grow faster than inflation. After adjusting for consumer price inflation (CPI), wages rose 3.4% between October and December 2024 when compared with the same period in 2023. Unemployment figures also appear to be encouraging, with the UK’s unemployment rate remaining at 4.4%.
Beginning last week (17 February), Local Authorities were able to begin awarding a 40% reduction in business rates bills to film studios. The tax relief is aimed at boosting the film industry in the UK and contributing towards more box office hits being made. The creative industries sector employs 2.4 million people and provides £124.6 billion to the UK economy.
According to a survey of 2,000 businesses carried out by the Chartered Institute of Personnel and Development (CIPD), just over a third are planning redundancies or to recruit fewer people ahead of National Insurance and Minimum Wage rises this April. 42% of those surveyed have said they will increase prices to cover the increased costs. 25% are looking at cancelling or downscaling plans for investing or expanding their business.
Topps Tiles, which is the largest tile specialist in the UK, purchased 30 CTD Tiles stores as part of a deal after CTD entered administration in August 2024. CTD was previously the second largest specialist tile retailer in the UK, so this was a sizeable acquisition for the tile world.
While numbers don’t lie, it’s well known that they can be manipulated to fit a story. Can you tell when it’s happening? The Office for National Statistics (ONS) are running a webinar that they describe as eye-opening and will do a deep dive into the world of statistical misuse.
We have now concluded a week of apprenticeship celebrations as part of National Apprenticeship Week 2025 and what a positive and inspirational week we had! Our People and Culture Manager Rachel Hughes attended the Apprenticeship and Skills Panel Breakfast hosted by Keele Gateway.
Conventional approaches to work and earning an income are changing and with the cost of living ever rising, many now use various ways to make some extra cash outside of their main job. If that’s true of you then you may wonder whether you need to pay tax on those earnings. HM Revenue & Customs (HMRC) have launched a new campaign aimed at demystifying whether you need to tell them about your side hustle earnings so you can avoid any nasty surprises.
The Department for Education have released details of additional flexibility coming to apprenticeships. When adult learners over the age of 19 start their apprenticeship course, businesses will now be able to decide whether they need to complete a level 2 English and Maths qualification (equivalent to a GCSE) in order to pass the course.
The government announced major plans last week to modernise the house buying and selling process. The reforms centre on digitalising and making property and identity data available electronically. This will allow mortgage companies and surveyors to have information within easy reach. It is thought that these changes will help to avoid surprises being encountered late in the process, with the waste of time and money that goes with that.
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