October 3, 2011

Minimum wage increases to £6.08 per hour

by Kay Mitchell

The UK minimum wage rose by 15p to £6.08 an hour from Saturday 1st October and is set to benefit almost one million people, according to the Low Pay Commission. The 15p an hour rise applies to workers aged 21 and over. Meanwhile, the rate for 18 to 20-year-olds will increase by 6p to £4.98, […]

September 27, 2011

BCC urges fresh round of QE

by Kay Mitchell

The British Chambers of Commerce (BCC) is calling for a fresh round of quantitative easing (QE) – a scheme designed to stimulate growth within the economy. The leading business group has written to Chancellor George Osborne to ask him to consider the option when he delivers his autumn statement later this year. At the Bank […]

January 10, 2011

Majority of firms will freeze pay in 2011

by Jan Harris

Most firms are taking a cautious approach when it comes to wages, according to a recent survey of 450 businesses by the British Chambers of Commerce. Less than half (45%) are planning to award their workforce a pay rise, the majority (49%) are freezing pay, while 6% are planning pay cuts. However, this is an […]

June 18, 2010

Business group urges Chancellor not to raise taxes in next week’s budget

by Kay Mitchell

Chancellor George Osborne will unveil his emergency budget next week and tax hikes are expected. However, according to business group, the British Chambers of Commerce (BCC), “punishing” tax rises could hit economic growth. A rise in capital gains tax (CGT) is expected. This is the levy firms or individuals pay on the profit gained from […]