Ongoing Covid booster drive to eat into health and social care levy funds December 12, 2021 An ongoing booster vaccination programme to deal with recurring coronavirus pressures will eat into funds yielded from the new health and social care levy earmarked for the NHS. The government could be forced to use some of the money produced from the 1.25 per cent levy on a permanent booster campaign, with the total bill [...]
GDP growth falls short of expectations, inching 0.1 per cent higher in October December 10, 2021 The UK’s economic growth inched just 0.1 per cent in October, according to the latest figures. The figure remains 0.5 per cent below its pre-pandemic level, the Officer for National Statistic found, falling short of economist and analyst expectations after experts had forecast a 0.4 per cent increase. Construction and hospitality were among the hardest [...]
Lisa Tomkins CA on how Oxford Biomedica assisted AstraZeneca’s vaccine rollout December 10, 2021 | City Talk This article first appeared in ICAS’ CA magazine. Lisa Tomkins CA, Senior Director Finance at Oxford Biomedica, tells Ryan Herman how the company assisted the vaccine rollout and is pioneering new treatments in gene therapy When Lisa Tomkins CA became Oxford Biomedica’s Senior Director Finance in February 2021, she suddenly received a deluge of LinkedIn alerts. Anyone [...]
Travel stocks lead London markets lower as investors digest Plan B damage December 9, 2021 Travel stocks led London markets lower yesterday as investors took flight from the sector after the UK government launched tougher Covid-19 restrictions this week. The capital’s premier FTSE 100 index dipped 0.22 per cent to close at 7,321.26 points, reversing some of this week’s gains. The mid-cap FTSE 250, which is more aligned to the [...]
Inflation to lift off to five per cent as cost living crisis bites Brits December 9, 2021 Inflation will hit heights not seen since the aftermath of the financial crisis, led higher by swelling household energy bills and rising prices for second-hand cars, according to City analysts. The cost of living will rise to five per cent in October, jumping from 4.2 per cent in the previous month, according to Capital Economics. [...]
UK economic growth to slow as Omicron set to fuel inflation and whack spending December 9, 2021 Weaker spending in pubs, bars and restaurants will weigh down economic growth, according to forecasts by City economists. A reduction in the number of diners driven by a combination of inflation eating into consumers’ real income and concerns about catching coronavirus will hit output in the food and accommodation sectors, according to Pantheon Macroeconomics. The [...]
Omicron hit to economy: New Covid restrictions may cost businesses £4bn in December December 9, 2021 The UK economy should brace itself for a £4 bn a month hit and see taxpayers foot the bill for more emergency support as new Covid restrictions to clamp down on the spread of the Omicron variant come into force, a think tank has warned. The right-wing Institute of Economic Affairs (IEA) said Plan B [...]
Soaring house prices yield £3 trillion windfall for wealthy Brits December 9, 2021 Soaring house prices over the last two decades has delivered £3 trillion in gains for Brits, according to a new report released today. Older homeowners have been the main beneficiaries of swelling house prices, earning around £80,000 on average over the last 20 years, research by the economic think tank the Resolution Foundation has found. [...]
Severe imbalances in jobs market are ‘unsustainable’ for businesses December 9, 2021 Severe imbalances in the UK jobs market are “unsustainable” for businesses and will clamp down on Britain’s recovery from the pandemic, according to a new report released today. Red hot demand for workers is rubbing up against weak supply, causing wages to lift off, research by consultancy KPMG and the Recruitment and Employment Confederation (REC). [...]
Weaker spending to weigh on UK economy next year December 9, 2021 Weaker consumer spending and downbeat trade will cause the UK economy to expand at a slower pace than expected next year, according to a new report released today. The British economy will grow 4.2 per cent next year, a downward revision from 5.2 per cent, according to projections made by the business group the British [...]