16 h. ago Asian shares sell off as US curbs on Nvidia chip sales to China fuel trade fears; UK inflation slows to 2.6% – business live

Gold surges nearly 2% to new record high; UK food inflation slows and fuel prices fall while clothes prices riseFinancial markets are betting on an interest rate cut from the Bank of England meeting at its May meeting, estimating an 86% probability.They have fully priced in three quarter-point rate reductions this year.A sharp pickup in inflation from April is all but guaranteed. Ofgem’s 6.4% increase to its price cap, after a large fall last year, means we expect the energy component will add 0.7ppts to CPI inflation in April. A significant increase in water bills means the contribution from the core goods category is also set to rise. In addition, we expect businesses to pass on some of the increase in labour costs caused by the recent rises in employers’ National Insurance Contributions (NICs) and the National Living Wage onto consumers. Inflation is likely to peak in the autumn, before starting to cool as the contribution from the energy category fades.The MPC has lowered Bank R...

Economics

4 d. ago Scotland must be resilient in the face of global shocks, says Swinney

The First Minister has suggested the UK Government should drop the recently announced increase in employers’ national insurance contributions.

Events

4 d. ago Shoe store closing down after 60 years in another 'loss' to the high street as owner blames Labour's budget and 'rapidly rising costs'

A spokesperson said the closure of one of its longest standing branches is due to the upcoming employer National Insurance Contributions, a decrease in business rate relief and lower footfall.

Economics

6 d. ago New State Pension payment warning for older people due to retire this year

The first State Pension payment might also be higher or lower than expected even with full National Insurance contributions.

Events

7 d. ago Thousands hit by HMRC error were 'blocked' from boosting State Pension before key deadline

HMRC has confirmed that thousands were locked out of their National Insurance contribution system due to an error

Events

9 d. ago National Insurance Contributions: what do new employers NICs changes and rates increase mean for UK workers?

Businesses are bracing for higher costs, and could squeeze workers even more 💼

Politics

1 week ago Workers facing a hit of up to £11,000 over the next five years due to Labour's 'job tax' as National Insurance rise comes into effect

Chancellor Rachel Reeves' hike to employer National Insurance contributions (NICs), which she announced in October, is now in effect and is set to keep down wages.

Economics

1 week ago Rise in national insurance to hit jobs and investment, high street bosses warn

The rate of employer national insurance contributions increases from 13.8% to 15% on Sunday April 6.

Events

1 week ago ANDREW NEIL: Tomorrow's £25bn national insurance rise is the most self

Employers will start paying the massive increase in National Insurance contributions Rachel Reeves announced in last October's Budget from tomorrow.

Economics

1 week ago East Kilbride MP hails 'record' minimum wage increase for 7000 South Lanarkshire residents

The changes will also see a pay boost for Britain’s young people – with the National Minimum Wage for younger workers and apprentices seeing a record cash increase.

Politics

2 w. ago Mark Drakeford says UK Government has made 'wrong' choice as Wales set to lose £65m

The chancellor has decided the money Wales will get to plug the gap made by her changes to the National Insurance contributions won't be the full amount

Politics

2 w. ago Retail and hospitality in London face extra £2bn in costs from this week

Lower business rates, higher minimum wages and National Insurance Contributions all pile on the pressure

Economics

2 w. ago National living wage rise kicks in as households brace for tax and bill hikes

The wage increase coincides with hikes to council tax, employer national insurance contributions and household bills.

Economics

2 w. ago KEVIN MAGUIRE: Keir Starmer must reverse kamikazi policies and start selling hidden success

April 1 will see a 6.7% rise in the minimum wage that will put extra cash in the pockets of an estimated 1.9 million low-paid workers under a new Labour drive to increase wages

Events

2 w. ago Minimum wage: 2025 pay rise for workers with new April national minimum wage increase

Millions will see a boost in their pay, but many still fall short of the Real Living Wage 💸

Economics

2 w. ago Graph reveals how UK tax burden will hit record high after Spring Statement

Income tax and national insurance contributions are the main drivers behind the jump in the overall tax burden

Events

3 w. ago Cheers Rachel! Average pint of pint surges past £5 or first time as pubs suffer ballooning staffing costs

Industry bosses have warned that a rise in the UK minimum wage and National Insurance contributions next month means they will be forced to put up prices.

Economics

3 w. ago How did it come to this? Labour’s journey from landslide victory to ‘deep unhappiness’

Rachel Reeves’s speech next week is being crafted as a ‘re-education’ on Labour’s achievements amid gloominess and sinking poll ratingsWhen Rachel Reeves takes to her feet in the Commons to deliver her spring statement next week, she will try to pull off what her inner circle describe as a “re-education” exercise over how Labour has used its early days in power.“We want it to be a re-education on all the good things we’ve already done in office,” said one, listing achievements including increasing the minimum wage, cutting NHS waiting lists and improving workers’ rights. “We want everybody to hear it.” Continue reading...

Politics

3 w. ago ‘We want everybody to hear it’: Labour to use spring statement to showcase early successes

Rachel Reeves’s fiscal speech next week is being carefully crafted as a ‘re-education’ on Labour’s achievements When Rachel Reeves takes to her feet in the Commons to deliver her spring statement next week, she will try to pull off what her inner circle describe as a “re-education” exercise over how Labour has used its early days in power.“We want it to be a re-education on all the good things we’ve already done in office,” said one, listing achievements including increasing the minimum wage, cutting NHS waiting lists and improving workers’ rights. “We want everybody to hear it.” Continue reading...

Politics

4 w. ago The vital number which decides if you qualify for full state pension when you retire

The full new state pension payment is £221.20 per week: here's how many qualifying years you need for the maximum amount payable, and how to understand National Insurance contributions

Politics