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.

New Chancellor Kwasi Kwarteng is in talks with bank bosses to thrash out the details of a £40 billion bailout fund for energy firms. Bank of England governor Andrew Bailey is also in the talks amid mounting concerns over soaring wholesale gas...

Energy bills will be frozen at an average of £2,500 for two years in the run-up to the next general election as families battle the cost-of-living crisis. The energy price cap will be scrapped and replaced with a new “energy price guarantee”,...

The UK economy grew more slowly than expected in July as worker shortages and soaring costs weighed on activity amid the heightened risk of recession. The Office for National Statistics said gross domestic product (GDP) rose by 0.2% in July,...

Following the death of Queen Elizabeth, the Bank of England has postponed a key decision on interest rates. It said that "in light of the period of national mourning", the Monetary Policy Committee's decision would now be announced on 22 September.



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