Weekly Digest – 11 September 2024
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
British Chambers of Commerce upgrades growth forecast for 2024
The British Chambers of Commerce (BCC) Quarterly Economic Forecast (QEF) has upgraded growth expectations for 2024 following an improved picture so far this year. The forecast for 2025 remains unchanged, with a minor upward revision for 2026.
Britain needs extra $1.3 trillion investment for economic growth
Britain needs an additional one trillion pounds ($1.3 trillion) in investment in the next decade to grow the economy, a report said on Friday.
Confidence fizzles out in August
The IoD Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, fell back to -12 in August, following a three-year high of +7 in July 2024.
Boost for UK growth as start-up investment schemes extended
The Enterprise Investment Scheme (EIS) and the Venture Capital Trust (VCT) scheme were both set to end on 6 April 2025 and have now been extended by ten years to 5 April 2035. The schemes are designed to encourage investment into new or young companies through tax-relief incentives, encouraging innovation, creating jobs and stimulating economic growth.
SME brokers bullish on the economy
Three in four (73%) SME finance brokers feel optimistic about the future of small businesses, according to SME lender iwoca’s latest Q2 2024 SME Expert Index.
What is the winter fuel payment and how can I still claim it?
A political storm is swirling following the government’s decision to withdraw help with energy bills from millions of pensioners. But what is the winter fuel payment and how can hundreds of thousands of eligible pensioners ensure they still receive it?
Windfall tax could slash £13bn from UK economy
Offshore Energies UK (OEUK) say the strengthened Energy Profits Levy (EPL) will “generate a loss in economic value of around £13 billion compared to the economic contribution generated under the current windfall tax regime.
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