AI tools including Chat GPT, Gemini and Meta AI are giving inaccurate, unclear and risky advice which could prove costly if followed, warns consumer champion Which?. Research showed that around half of UK adults are now using AI tools to research topics including personal finance, the law and health. Which? tested six AI tools –
Chancellor of the Exchequer Rachel Reeves set out tax-raising measures worth up to £26 billion in the Autumn Budget. The increases will be achieved through a range of measures, including extending the freeze on Income Tax thresholds for a further three years. Ms Reeves also announced extra spending increasing to £11.3 billion in 2029/30, including
The UK inflation rate fell to 3.6% in the year to October, according to the latest data from the Office for National Statistics (ONS). October’s decline was led by a smaller rise in gas and electricity prices compared with a year ago as well as a drop in hotel prices, the ONS said. Core inflation,
UK bank customers will benefit from an increase to the maximum amount they would be reimbursed for if their bank were to fail from 1 December, the Prudential Regulation Authority (PRA) has confirmed. From December, the deposit protection limit, which applies to the Financial Services Compensation Scheme, will protect up to £120,000 of a depositor’s
HMRC is urging those making money from Christmas crafts, seasonal market stalls, or selling festive items to check if they need to report their earnings. As the festive season approaches, the tax authority has launched a Help for Hustles campaign. This aims to remind anyone earning extra income from activities like making Christmas decorations, upcycling
One in six employers expect AI to shrink their workforce over the next year, with junior roles most at risk, according to a survey conducted by the Chartered Institute of Personnel and Development (CIPD). Almost two thirds of those surveyed believe that clerical, junior managerial, professional or administrative roles are most likely to be lost
Official statistics have overstated the size of the UK’s self-employed population for two decades, according to the Institute for Fiscal Studies (IFS). The share of national income flowing to those with the highest incomes has also been over-estimated, adds the think tank. The mismeasurement stems from a longstanding error in the Survey of Personal Incomes
Chancellor Rachel Reeves must use the Autumn Budget to make the bold decisions necessary to get the economy firing, says the Confederation of British Industry (CBI). In its Budget submission, the business group says that businesses will judge the Budget a success or failure based on its ability to inject immediate momentum into a stuttering
In a pre-Autumn Budget speech from Downing Street, Chancellor Rachel Reeves refused to rule out raising taxes in the upcoming Autumn Budget on 26 November. Ms Reeves used the speech to outline the challenges facing the government, and highlighted her priorities in regard to Autumn Budget measures. Beginning her speech, Ms Reeves said she will
The British Chambers of Commerce (BCC) has warned that the UK could fall behind in the race to achieve net zero. Research carried out by global management consulting firm McKinsey and Company showed that the transition to net zero could potentially be worth more than £1 trillion to UK business by 2030. A survey of