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The 2024 Spring Budget

The Spring Budget 2024 for the UK, presented by Chancellor Jeremy Hunt, outlined several key areas of focus. Here are a few of those areas : Economic Outlook ▪︎ The Office for Budget Responsibility (OBR) forecasts inflation to fall to the government’s 2% target by Q2...

UK inflation falls as economy shrinks in May

The UK’s rate of inflation fell to 7.9% in the year to June while the country’s economy shrank in May, according to the latest Consumer Prices Index (CPI) published by the Office for National Statistics (ONS). The inflation rate is currently at its lowest annual rate...

What does the high inflation rate mean for small businesses?

Key Points ▪︎ Businesses are affected by supply pressures as they pay more to buy materials and products ▪︎ Wages can increase as employees ask to be paid more to compensate for increasing inflation The UK is experiencing a high rate of inflation. What is inflation...