Tariffs to be cut in new UK-India trade deal

Britain and India have signed a long-anticipated trade deal that is expected to boost the UK economy by £4.8 billion a year by 2040. Finalised after more than three years of negotiations under multiple governments, the agreement is one of the most significant...

Bank of England set to cut rates

The Bank of England (BoE) is expected to cut interest rates this Thursday in response to growing fears that Donald Trump’s erratic trade policies threaten UK jobs and economic growth. Markets are all but certain that the base rate will be cut by a quarter point from...

Retail sales see biggest rise since 2021

UK retail sales rose at their fastest pace in nearly four years during the first quarter of 2025, thanks partly to sunny weather in March. According to the Office for National Statistics (ONS), sales volumes increased by 1.6% between January and March compared to the...

HICBC penalties down from £7m to 23K since 2018

The number of penalties issued under the high-income child benefit charge (HICBC) has dropped significantly over the past few years, falling from over 13,000 in 2018/19 to just 45 in 2024/25. In 2018/19, HMRC issued 13,527 “failure to notify” penalties, raising nearly...

Economy faces slow growth and global trade risks

The UK began 2025 under pressure, with production down and manufacturing and mining among the hardest hit. Food, metals, and repair services have held steady, but the industrial picture is weak overall. Construction has also dipped, highlighting wider uncertainty....