UK economy to shrink in 2023: IMF

The International Monetary Fund (IMF) has said that UK economy will shrink and perform worse than other advanced economies as the cost of living continues to hit households.

HMRC clarifies its stand on waiting times on self-assessment helpline

Officials working from home are not to blame for long waiting times on HM Revenue and Custom’s self-assessment helpline, the department has said.

The Communications Workers Union (CWU), which represents more than a 100,000 Royal Mail postal workers, said British postal workers will hold the strike in protest over pay on Aug 26 and 31 as well as Sept. 8 and 9.

Liz Truss vowed to do “all that I can” to help households struggling with the cost of living crisis, in a change of tone that her Conservative leadership rival Rishi Sunak described as a “major U-turn on the biggest issue facing the country”.

The winner of the Conservative party leadership contest will face huge additional costs of servicing the nation’s debt and paying social security benefits as a result of rising inflation and interest rates.

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