Food prices remain at “near historic highs”.
Inflation falls to 8.7% in April
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Current Affairs
UK economy will “avoid recession”
IMF upgrades its growth forecast.
Late payment interest rate rises to 7%
Interest has doubled since May 2022.
One in five taxpayers will pay higher tax rate
Threshold freezes could see 7.8 million pay 40%.
Company insolvencies fall in April
Figures remain higher than pre-pandemic levels.
Economy fell by 0.3% in March
GDP grew slightly in Q1 of 2023.
Bank of England raises interest rates to 4.5%
Rate increases for 12th time since December 2021.
ACCA calls for action to tackle late payment
Poor payment practices have severe consequences for SMEs.
SME confidence increases in 2023
Confidence improves across all major sectors.