
In the first Autumn Budget, the chancellor of the exchequer Philip Hammond has set out the government's plan for the UK economy.
• £44bn of capital funding, loans and guarantees have been promised to support the housing market, including £1.1bn to unlock strategic sites, new settlements and urban regeneration schemes and £2.7bn for infrastructure.
• The government has planned to create five new 'garden towns' in the UK.
• Business rates will now be pegged to the consumer price index (CPI) instead of the retail price index (RPI) from April 2018, two years earlier than initially planned.
• Stamp duty has been abolished on homes under £300,000 for first-time buyers.
• £1.7bn has been committed to improve transport in English cities, half of which will be shared by the six areas with elected metro mayors.
• The devolved administrations have been promised more funding, including an extra £2bn for Scotland, £1.2bn for Wales and £650m for NI.
• A further £34m has be allocated towards developing construction skills across the country.
• A new fund will be established for the British Business Bank, this will be seeded with £2.5bn of public money.
• From April 2018, the national living wage will increase by 4.4%, from £7.50 an hour to £7.83.
• A £220m Clean Air Fund will be established to help local authorities reduce air pollution.
-
Temenos partners with ClearBank for cloud payments
Banking software company Temenos has formed a strategic relationship with ClearBank to provide banks with a faster route to market for real-time cloud payments...
-
Unity Trust Bank registers 34% rise in profits
Unity Trust Bank increased profits by 34% in 2019...
-
Believe the hype – why explainable AI is a trend that’s here to stay
Technology has become a ubiquitous part of our day-to-day lives...
-
Piloting tech updates: ‘The bigger the bank, the harder it is to get anything done’
In the latest Medianett filmed roundtable session, we discussed how important technology is in the banking space, and what impact the industry expects it to have on its businesses in the future...
-
What banks need to know about cloud security
One of the most common perceived concerns when adopting the cloud is the issue of security...
-
OakNorth sees 95% increase in pre-tax profits
OakNorth Bank has announced a 95% rise in pre-tax profits in 2019 to £65.9m, up from the £33.9m recorded in 2018...
-
Redwood Bank signs up to Women in Finance Charter
Redwood Bank has announced that it has signed up to the Women in Finance (WIF) Charter...
-
Masthaven launches digital Women in Leadership programme
Masthaven Bank has launched a new Women in Leadership digital development programme for female senior leaders...
-
Protecting against supply chain disruption and the domino effect
Disappointingly, many UK SME business owners don’t understand their supply chains...
-
Confused about which Isa to choose? Hopefully this mini-guide will help…
We are now firmly in Isa season, so you’re likely to read multiple articles about the most competitive Isa products in the market and how best to make the most of your Isa allowance before the end of the tax year...
-
Garden shed entrepreneurs contribute £16.6bn to the UK economy
Entrepreneurs who run their businesses from garden sheds contribute £16.6bn annually to the UK economy, according to a recent study...