UK Deficit Now at Lowest Level Since 2008

Posted by siteadmin on Monday 1st of May 2017

The UK’s borrowing declined by £20bn, to reach £52bn in the year ending in March 2017. The independent Office for Budget Responsibility (OBR), which closely monitors the government’s economic forecasts and performance, believed the figure would be slightly lower at £51.7bn. This was therefore the figure offered by the Chancellor of the Exchequer, Philip Hammond, in his last Spring Budget in March. The OBR cautioned at the time, that they believed the deficit would continue to rise as anticipated tax receipts would decline in the following qu...


UK Manufacturing Sees Strong Growth in Last Quarter

Posted by siteadmin on Monday 1st of May 2017

Following the recent quarterly CBI (Confederation of British Industry) Industrial Trends Survey of 397 UK manufacturers, Rain Newton-Smith, the Chief Economist of the CBI commented: “UK manufacturers are enjoying strong growth in demand from customers in the UK and overseas, and continue to ramp up production.”

The results indicated that domestic order books improved at their fastest rate (20%) in the three months ending April 2017, since July 2014 and that export orders also saw their greatest growth (22%) for six years.

42% of responden...


Markets

Posted by siteadmin on Monday 1st of May 2017

(DATA COMPILED BY THE OUTSOURCED MARKETING DEPARTMENT)

April maintained the bullish sentiment prevalent in global equity markets, as political elements concentrated the mind of investors. Unfortunately, the FTSE100 bucked the trend somewhat, towards the end of the month, having experienced a volatile period mid-month to register a 251 point swing from its high of 7,365.5 to its intra-month low of 7,114.36. It closed the month at 7,203.94, registering a fall of 1.62%. The wider FTSE250 fared better, gaining 3.39% to 19,615.36, with the AIM g...


UK Economy Grows by 0.3% in Q1 as Higher Inflation Takes Its Toll

Posted by siteadmin on Monday 1st of May 2017

Economists were expecting UK GDP growth to slow to around 0.4% in Q1 as consumers reduced their spending in response to rises in inflation. However, in preliminary growth estimates released on 28th April, the Office for National Statistics (ONS) reported a 0.3% growth rate for the UK economy in Q1 2017. This is the slowest growth rate since Q1 2016.

This lower than expected rate can be largely attributed to the slowdown in growth of the service sector, which fell to 0.3% versus 0.8% in Q4 2016. In Quarter 1 2017, there were falls in several...


Property Market Review April 2017

Posted by siteadmin on Monday 3rd of April 2017

Our monthly property market review is intended to provide background to recent developments in property markets as well as to give an indication of how some key issues could impact in the future.

Investment in London’s West End reaches record high

The West End of London has seen a record level of £1.93 billion in commercial property investment in Q1 2017, according to commercial property and real estate consultants Cushman & Wakefield. A large proportion of those investment funds have emanated from Hong Kong.

This figure equates to a 22%...


Economic Review of March 2017

Posted by siteadmin on Saturday 1st of April 2017

UK INFLATION HITS 2.3%

Inflation in the UK, as measured by the Consumer Prices Index (CPI), soared to 2.3% in February, according to the latest figures released by the Office for National Statistics (ONS). This leap from the previous month’s 1.8% is the highest level seen since September 2013 and pushes the rate above the Bank of England’s (BoE) target rate of 2%. The BoE has said that it expects the CPI rate to rise to 2.8% by 2018, although many independent analysts believe that even this figure could be exceeded.

The wider CPIH rate ...


Inheritance Tax Myths Busted

Posted by siteadmin on Thursday 16th of February 2017

One of the most common myths concerning Inheritance Tax (IHT) is that it is only paid on the estates of very rich families. However, with property prices remaining high, many more families are facing the prospect of their estates falling within the IHT threshold on their death.

The nil-rate band stands at £325,000 and will remain at that figure until 2021. Some people are under the impression that this has been increased to £1m for couples, the figure often given in newspaper headlines. However, that is not the case yet, and it won’t appl...


Economic Review of January 2017

Posted by siteadmin on Wednesday 1st of February 2017

NEW ‘INDUSTRY STRATEGY’ ANNOUNCED BY GOVERNMENT

Theresa May announced in mid-January that she is initiating a new ‘Industrial Strategy’ which will be specifically designed to boost the UK economy post-Brexit and that the government will be “stepping up to a new, active role..." that will “align central government infrastructure investment with local growth priorities.” Among these “priorities” would be transport, energy and broadband projects to boost industrial effectiveness across the UK.

Announcing these new initiatives at the Prime Mi...


Property Market Review January 2017

Posted by siteadmin on Monday 30th of January 2017

Serviced Offices Market Recovers

2017 has ushered in a recovery in the serviced offices sector, following the initial uncertainty in the wake of the Brexit vote.

Given the weakness of sterling, international investors in particular have been attracted to the sector, as businesses turn to more flexible workplace solutions.

Young, agile start-up tech companies, for example, are reluctant to commit to medium to long-term leases, as a result of their sometimes precarious financial positions. They have therefore found that the serviced office...


Economic Review of November 2016

Posted by siteadmin on Thursday 1st of December 2016

Retail Sales Soar as Weather Turns Colder

Retail sales soared in October as the weather turned more wintry, according to the Office for National Statistics (ONS). Retail sales volumes increased 7.4% from the previous year, the figures represented the highest growth rate seen since 2002, beating Reuters forecasts of 5.3%.

The more inclement weather favoured warmer clothing sales and the end of the month saw buoyant Halloween trade, which further boosted supermarket sales of the desired regalia. The largest contribution to growth came from n...


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