Economy
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Jul- 2020 -3 July
Consumer confidence increases in June
GfK’s fourth Covid-19 flash report has revealed Consumer Confidence Index increased by three points to -27 over the past two weeks. Joe Staton, GfK‘s client strategy director, said after the recent “near-historic low” of -36 for the Consumer Confidence Barometer last month, there are some early signs of improvement across…
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Jun- 2020 -23 June
PM confirms relaxation of two-metre social distancing rule
Boris Johnson has announced a reduction in the two-metre social distancing rule. In a speech in parliament this afternoon, the PM said that while maintaining at least a two-metre distance is still “recommended where possible”, the official guidance will be updated to recommend “one-metre-plus” where necessary, if “mitigations” such as…
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22 June
Chancellor mulls VAT cut and could follow up with autumn tax rises
Chancellor Rishi Sunak is reportedly considering cutting VAT in order to help stimulate the economy but could follow the move up with a set of Autumn tax rises. According to the Financial Times, Sunak is planning deferred tax rises and cuts to public spending in his autumn Budget as a follow up to further stimulus…
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15 June
39% of UK SMEs believe economy will need five years to recover from Covid-19
Four in 10 (39%) small business owners believe it will take at least five years for the UK economy to fully recover from the impact of lockdown and Covid-19, according to a new poll. Research by the “#ForgottenLtd Campaign”, which is campaigning for fair and equal government support for small…
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Mar- 2020 -30 March
Government relaxes insolvency rules
The government has announced a set of changes to help improve the insolvency system to enable companies undergoing restructuring to continue trading. The relaxed measures announced by business secretary Alok Sharma, will allow companies undergoing restructuring to continue to access supplies and raw materials. It has also temporarily suspended wrongful…
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19 March
Gold and silver down double digits in February hallmarking
The number of gold and silver pieces hallmarked in February 2020 decreased by 13.3% and 25.3% respectively, according to figures compiled by the Birmingham Assay Office. Gold hallmarked pieces decreased from 281,938 to 244,558 and silver items decreased from 344,104 to 257,212 during the month. Additionally, palladium decreased by 70.3%…
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17 March
NAJ asks for ‘urgent action’ amid Covid-19 crisis
The UK jewellery industry has urged the government to take “urgent action” as the coronavirus crisis unfolds. The National Association of Jewellers (NAJ) has today sent an open letter to PM Boris Johnson calling for “further clarity and support” on key issues that may affect the industry amid the outbreak. …
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11 March
ROUNDUP: Business rates holiday announced by chancellor Sunak
In his maiden budget, the new chancellor, Rishi Sunak, has announced a £30bn fiscal stimulus package to help combat the impact of coronavirus on the British economy including a one-year total suspension of business rates for small retail, leisure and hospitality businesses. Headline measures include: A £12bn plan to provide…
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Feb- 2020 -17 February
Gold and platinum up single digits in January hallmarking
The number of gold and platinum pieces hallmarked in January 2020 increased by 1.4% and 7.6% respectively, according to figures compiled by the Birmingham Assay Office. Gold hallmarked pieces increased from 281,752 to 285,647 and platinum items increased from 24,900 to 26794 during the month. However, this was offset slightly…
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10 February
HMRC yields £16 from small businesses for every £1 spent on staff
HMRC’s investigations into individuals and small businesses produced a yield of approximately £16 for every £1 spent on staff last year, according to research by international law firm Pinsent Masons. The firm said the “huge” return on investment in staff outweighs returns seen by other private sector businesses. Whilst HMRC’s…
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