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.

For the fourth consecutive meeting, Bank of England has maintained interest rates at 5.25 per cent. The Monetary Policy Committee (MPC) disclosed a 6-3 majority vote in favour of keeping rates steady, consistent with many economists' predictions.

A Treasury minister has acknowledged that there is "still more work" needed to address inflation, as the figures remain unchanged. Inflation held steady at 6.7 per cent for the year ending in September, showing no variation from the previous...

UK retail sales volumes fell by 0.9% in September, surpassing economists' expectations of a 0.2% decline. This decline, following a 0.4% drop in August, was primarily driven by online retailers, who experienced a 2.2% decrease in sales volumes,...

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