Author: Graeme Wearden

Business confidence in the UK has hit a low point following warnings of a tough budget from the Labour government. The latest Lloyds Bank Business Barometer reveals a significant drop in optimism, attributed to concerns about the economy. While businesses remain positive about their own trading prospects, overall confidence has dipped to a three-month low. Chancellor Rachel Reeves has hinted at difficult decisions in the upcoming budget, causing uncertainty among employers and financial services leaders. Concerns about tax increases and potential impacts on payroll costs are prevalent in the industry. As leaders brace for potential changes, they are also focused…

Recent data released by the UK’s labor market statistics showed that total pay, including bonuses, rose by 4% in the May-July quarter. This increase is expected to trigger a 4% rise in the new state pension under the UK’s triple-lock system. As a result, pensioners on the new state pension may see their weekly amount increase from £221.20 to £230, an additional £9 per week from next April. On an annual basis, this would raise the state pension from £11,502.40 to £11,962 per year. Despite concerns about the long-term sustainability of the triple-lock system, the government has committed to retaining…