News Category
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Government plans to increase clean energy investment
The Government says it will spend £730 million of annual funding on renewable electricity projects over this parliament, and has set out further details for the next Contracts for Difference auction, where companies will compete for the first £290 million worth of contracts for renewable electricity projects. The second Contracts for Difference auction should result in enough renewable electricity to power around one million homes and reduce carbon emissions by around 2.5 million ...
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Exporters remain confident
The number of small to medium-sized exporters that expect to continue growing their overseas sales has fallen following the EU Referendum, according to the latest Business in Britain report from Lloyds Bank. However, the report shows that overall prospects are still positive and export experiences over the last six months have improved, with the US and Canada the areas that businesses believe will be most attractive to trade with going forward. The results showed: • A net balance ...
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CPI inflation to “accelerate rapidly”
The UK economy will grow 2% in 2016 before slowing to 1.4% in 2017, according to the National Institute of Economic and Social Research (NIESR). At the same time, consumer price inflation will accelerate, peaking at around 4% in the second half of 2017 and making an impact on real disposable income. The think-tank expects sterling to remain at around $1.22 and €1.11 this year and next. The study highlights “substantial impending inflationary pressure”, much of which will be driven by the ...
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SMEs owed more than £586bn in outstanding invoices
UK SMEs are owed more than £586 billion in outstanding invoices according to recent figures from Lloyds Bank Commercial Banking. The average small business is owed more than £108,000 in unpaid invoices, an increase of 8% since January 2016, with almost a third of firms citing late payments as the biggest cause of cash flow problems. The Business in Britain report, which gathers the views of more than 1,500 UK companies, found that more than 1.5million SMEs ...
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Launch of inclusive economy unit
The Government has launched an Inclusive Economy Unit which will focus on supporting mission-led business plus strengthening the social investment market and social impact bonds. Key aims are as follows: Encourage better use of private investment and support markets that deliver social impact as well as financial returns. Improve delivery of public services: increasing social impact while bringing value for money in the commissioning of public services Encourage responsible business, from social enterprise start-ups to companies that aim at ...
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Firms won’t have to list foreign workers
Government proposals to oblige UK companies to disclose details of the foreign workers they employ have been abandoned. Speaking to the BBC, Defence Secretary, Sir Michael Fallon, said: "This is not going to happen" but added that firms could be asked "simply to report their numbers" as this could help identify skills gaps in the UK workforce. According to the BBC, a briefing note was distributed following Home Secretary, Amber Rudd's, speech ...
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UK manufacturing activity rises
Conditions in the UK manufacturing sector continued to improve at the end of the third quarter, according to the Markit/CIPS Purchasing Managers’ Index (PMI). The domestic market remained a prime driver of new business wins, while the weaker sterling exchange rate drove up new orders from abroad. At 55.4 in September, up from 53.4 in August, the seasonally the Index rose to its highest level since June 2014. The ...
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Euro exchange rate set for 2016 BPS
Basic Payment Scheme (BPS) payments for England are set in Euros and then converted into sterling. The rate for 2016 has now been published (based on an average of the European Central Bank exchange rates in September) at €1 = £0.85228. The previous year’s exchange rate for BPS was €1 = £0.73129. The Rural Payments ...
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Metaldehyde: Advice for autumn crops
The Environment Agency is calling on growers to think "slope, soil and stream" when they apply metaldehyde based slug pellets to crops this autumn, saying it is important growers adhere to the current guidelines to avoid contaminating watercourses and protect drinking water supplies. Metaldehyde is the pesticide that most often causes risks ...
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Spotlight falls on CMM
CMM managing director, Graham Allen, recently featured in the Ingenuity Network newsletter. So if you would like to find out more about Graham and hear all about the benefits of being a Network member, read on. Member spotlight Since it was established 10 years ago, The Ingenuity Network has grown into a thriving community of over 1800 individuals. Here, we’ll be featuring examples of how some of those individuals have ...
