Hospitality and leisure sector faces Budget pressures and changing consumer preferences
Last week’s Budget introduces new cost pressures for low-wage sectors through higher employer National Insurance Contributions (NICs), resulting in a disproportionate tax increase for employers of low-paid workers. Businesses will be unable to fully recoup these costs over time by squeezing wages, due to the coming rise in the National Living Wage (NLW).
UK energy sector and supply chain partners on a bumpy road to clean energy
The transition to clean energy in the UK is a complex process, requiring a shift from fossil fuels like oil and gas to renewable and low-carbon sources such as wind, solar, hydrogen, and carbon capture and storage (CCS). The UK government has announced a series of proposed changes to accelerate this transition, aiming to increase renewable energy generation, reduce reliance on fossil fuels, and implement new regulations and taxes on the oil and gas industry.
UK manufacturing revival masks nationwide sector-specific woes
The recent revival in the UK manufacturing sector has led to the strongest growth spell in two years. Manufacturing firms have reported strong order book volumes, prioritised working through order backlogs, and benefited from a resurgence in activity following a traditional pre-General Election investment pause.
UK Trade: exporters must strengthen supply chains and embrace AI and sustainability
UK trade dynamics have been unfavourable for years. Global demand has been stifled by a long list of formidable headwinds, including Brexit, trade disputes, pandemic-induced supply chain disruptions, and macroeconomic pressures.
