The economy covers production, distribution and trade while also referring to the consumption of services and goods by various agents (such as businesses, organisations and government as well as individuals). Read our posts about the economy to learn more.


Key Points Budget

Chancellor George Osborne has delivered his 2013 budget. Here are some of the key points.

Income Tax
• The tax free allowance to be raised to £10,000 in 2014, a year earlier than planned.

• Interest free loans up

Boost for Scottish Food and Drink Exports

Manufactured goods in Scotland grew by 0.8 percent during the third quarter of 2012, mainly due to growth in the food and drink sector.

The National Statistics Publication for Scotland revealed that the biggest contribution was from alcohol exports, which

Parliamentary Hearing on Tax Avoidance with the Big Four

Following an exchange of emails I had last year with the Rt Hon Margaret Hodge MP on the issues addressed by the Public Accounts Committee of HMRC and multinational business tax avoidance, I was delighted to receive another email from

Autumn Statement Key Points

Autumn Statement Key Points

Chancellor of the Exchequer George Osborne has addressed Parliament on the government’s plans for the future of the economy.

Here are some key points.

Benefits and Pensions:

Most working age benefits to rise by one percent;

UK Back in Recession

UK Recession has returned after the economy shrunk by 0.2 percent in the first three months of 2012.

The Office for National Statistics (ONS) said the contraction was caused by a sharp fall in construction output.

BBC economics editor Stephanie

UK Employment Prospects Given Boost

UK employment – The British job market has received a boost after a survey suggested that more firms were looking to hire people than let them go.

Recruitment firm Manpower, who conducted the research, said the survey’s findings showed that

Bank Reforms to go Ahead

Bank reforms are to go ahead to prevent banks being bailed out in the future by the public purse.

George Osborne and Vince Cable will push ahead with the plans to separate high street lenders from “casino” investment banking.

Cable, …

Inflation fell in November partly due to supermarket price wars and a strong harvest, keeping food and petrol prices in check.

The Office for National Statistics (ONS) revealed that the consumer prices index fell to 4.8 percent in November, down …

Key Points of George Osborne’s Autumn Statement

Chancellor George Osborne gave his much anticipated autumn statement yesterday. He began by saying the Office of Budget Responsibility forecasts dropping to 0.9 percent in 2011 and 0.7 percent in 2012.

He then announced a number of measures that have …

UK Public Borrowing Lower Than Expected

The month of October saw the UK’s new borrowing fall to £6.5 billion, down from £7.7 billion the year before.

The borrowing was lower than expected as growth in tax revenue was greater than spending, with most economists having predicted …