Industry News

Firms with poor cyber security measures could face fines of £17m, government warns

The government has warned that businesses could face fines of up to £17 million or 4% of global turnover if they do not take appropriate measures to protect against cyber-attacks. Water, energy, transport and health firms have been advised to safeguard against hacking and cyber threats. The government has stressed that fines will only be […]


Retirement income ‘boosted by private and workplace pensions’, statistics suggest

Data published by the Office for National Statistics (ONS) has revealed that retirement income has been ‘boosted’ by private and workplace pensions over the last 40 years. The ONS found that 80% of retired UK households received income from a private pension in 2016, compared to just 45% of retired households in 1977. It revealed […]


Data reveals confidence amongst UK businesses has taken ‘major knock’

Data published by the Institute of Chartered Accountants in England and Wales (ICAEW) has revealed that confidence amongst businesses in the UK has taken a ‘major knock’, and has fallen into negative territory. The ICAEW’s Business Confidence Monitor fell from a reading of 6.7 in the second quarter of this year to -8 during the […]


FSB urges government to delay National Living Wage rise

The Federation of Small Businesses (FSB) has called on the government to consider whether forthcoming rises in the National Living Wage (NLW) rate may need to be delayed if the economy cannot bear the pace of change. By 2020, the NLW will have risen to £8.75 per hour. The business group has suggested that any […]


State pension age reform leaves ‘large number of women worse off’

A report published by the Institute for Fiscal Studies (IFS) has suggested that women aged between 60 and 62 have become ‘worse off’ as a result of the recent rise in the state pension age. Between 2010 and 2016, the state pension age for women increased from age 60 to 63. The government intends to […]


New trade body to be created by government

The government has revealed its intention to create a new trade authority, termed the UK Trade Remedies Organisation, ahead of Britain’s departure from the EU in 2019. The UK Trade Remedies Organisation will help to combat incidents of unfair trade that may occur once Brexit has taken place. It will also build upon the UK’s […]


UK ‘won’t cut taxes post-Brexit’, Chancellor states

Chancellor Philip Hammond has suggested that the UK won’t cut taxes and fiscal regulations after Brexit. The Chancellor stated that the UK will remain within the ‘EU average’ in terms of tax rates, and will not seek to reduce taxes in a bid to become more competitive. He commented: ‘I often hear it said that […]


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