BREXIT FALLOUT—A fall in the value of sterling since the U.K. voted to leave the European Union pushed up British firms’ raw material costs in August at the fastest annual pace in nearly half a decade, yet so far fortunately, it has yet to feed into prices for the consumer.

Driven up by the weakened pound, the cost of companies’ fuels and materials rose 7.6% in August from a year earlier, the fastest rate of growth since December 2011, the office for National Statistics said Tuesday. Import prices surged by 9.3% on the year.

Most economists, however, expect that the slide in sterling—which has lost some 10% against the dollar since the referendum—will likely fuel a sharp revival in inflation, which has been largely dormant for years.

The Bank of England also expects sterling’s decline to push inflation back to its 2% target by around the third quarter of 2017.

Combined with the uncertainty around the U.K.’s future trade arrangements, which analysts say will dampen business climate and tighten labour market conditions, this could lead to a fall in consumer spending—one of the main drivers of the British economy—hurting the U.K.’s growth prospect.

Until Theresa May triggers Article 50, the U.K.’s desire to have “talks about talks” on post-Brexit deal, is not finding favour among EU power brokers. There seems to zero political willingness on the part of the European Commission to discuss the future. There’s little incentive for the EU to be seen to be doing the U.K. a favour at a time when the European project is coming under fire from politicians in countries such as Germany, France, and Italy, not to mention Poland and Hungary.

Note: The Producer Price Index (PPI)  is a monthly survey that measures the price changes of goods bought and sold by UK manufacturers and provides an important measure of inflation, alongside other indicators such as Consumer Price Index (CPI)  and Services Producer Price Index (SPPI). This statistical bulletin contains a comprehensive selection of data on input and output index series. It contains producer price indices of materials and fuels purchased, and output of manufacturing industry by broad sector.

The Boundary Commission for England (BCE) is required by the Parliamentary Constituencies Act 1986 to review the parliamentary constituencies in England every 5 years.

The Independent Boundary Commission for England (BCE) has published its initial proposals for new Parliamentary constituencies. The publication marks the start of 12 weeks of consultation, during which the Commission needs to hear from you to help shape the proposed new constituency boundaries.

Following a decision by Parliament to reduce the number of constituencies in the UK to 600 from 650, and to ensure that the number of electors in each constituency is more equal, the BCE has been asked to make independent recommendations about where the boundaries of English constituencies should be. The BCE must report to Parliament in 2018 and, if agreed by Parliament, the new constituencies will be in use at the next scheduled General Election in 2020.

Publication of the initial proposals is the first time people get to see what the map of new constituencies might look like. The rules that the Commission works to are such that wide scale change is inevitable. Under the proposals announced today, only 68 of the existing 533 English constituencies remain unchanged.

GOV.UK Verify uses trusted third parties to independently confirm your identity, and provides safer and simpler access to a range of government services like viewing a driving licence or making a Universal Credit claim. 

To register using GOV.UK Verify, the user will need a range of documents to hand to help them prove their identity - for instance, a passport or driving licence, and another piece of evidence like a bank card or phone contract. This information is never shared with Government.

A new video is now available which may be useful for new claimants of Universal Credit as well as to people offering advice. You can find out more about Verify and the services that use it by reading the GOV.UK Verify guidance.

You can only use GOV.UK Verify when you need to access one of the following services.

• Check your Income Tax for the current year, with Her Majesty’s Revenue and Customs (HMRC)
• Get a State Pension statement, with the Department for Work and Pensions (DWP)
• Sign in to your personal tax account (HMRC)
• View or share your driving licence information, with the Driver and Vehicle Licensing Agency (DVLA)
• Apply for Universal Credit (DWP)
• Claim for redundancy and monies owed, with the Department for Business, Innovation and Skills (BIS)
• Sign in and file your Self Assessment tax return (HMRC)
• Update your rural payments details, with the Department for Environment, Food and Rural Affairs (Defra)
• Help friends or family with their tax (HMRC)
• Check or update your company car tax (HMRC)

More services are joining GOV.UK Verify all the time.

See the Video Below.

If you’re a registered childcare provider, you’ll receive a letter from the Government inviting you to sign up online for Tax-Free Childcare.

From early 2017, many parents will want to pay for childcare through Tax-Free Childcare. To receive payments from the scheme you must be signed up.

Tax-Free Childcare is a new government scheme to help working families with childcare costs. Parents can pay into an online childcare account, receive a government top-up, and use the funds to pay registered childcare providers who have signed up to the scheme.

Letters will be issued across the UK during September and October 2016.

Expect your invitation soon say the DWP.

The Scottish National Party has called on the UK government to stop the “unethical and discriminatory” practice of sending phishing letters to low income families accusing them of committing fraud and then cutting off benefits without warning. HMRC employs Concentrix to identify cases of benefit fraud on a results-only basis which appears to have led to the company sending random “phishing letters” to families in receipt of tax credits accusing them of fraudulently claiming the benefit.  

There has been a recent increase in the number of people reporting that their benefits have then been stopped without warning. Dr Eilidh Whiteford MP, the SNP’s spokesperson for Social Justice, has written to Chancellor Philip Hammond to request a meeting to discuss HMRC’s contract with Concentrix and what action can be taken to ensure that families entitled to tax credits are not erroneously accused of fraud.

Dr Eilidh Whiteford MP, SNP spokesperson for Social Justice, said:“All across Scotland, low and middle income families have been sent letters accusing them of fraud and have had their tax credits stopped for absolutely no reason - the Tories face urgent questions over this disgraceful practice.“HMRC contracts Concentrix to pursue cases of benefit fraud, but with millions of low and middle income families in receipt of tax credits, these indiscriminate accusations, with no basis in reality are causing distress and hardship. The UK government needs to rein-in Concentrix, and stop these unethical and discriminatory practices."

Image: Dr Eilidh Whiteford MP,

Work and Pensions Committee

Wednesday 14 September 2016 Meeting starts at 9.30am

Subject: Support for ex-offenders

Witnesses: Paul Anders, Policy Manager, Janice Nix, Revolving Doors, and Christopher Stacey, Co-director, Unlock

Witnesses: Jocelyn Hillman, Chief Executive, Lisa Hubbard, Housing Officer, Working chance, and Nathan Dick, Head of Policy and Communications, Clinks

Are you an aspiring entrepreneur or business owner or thinking about starting in the fashion industry then this event might interest you.

If so you’d be fascinated to know about a ‘Meet the Expert’ event at the exclusive private members club Home House.

The  ‘Meet the Expert’ speaker is Amanda Montagu from FSB (Federation of Small Businesses) a successful serial entrepreneur who will be sharing the secret of how FSB is giving business owners the edge in these post-Brexit times.

Opening Speech for 'Meet the Expert' As we all work now in a post-Brexit UK, the legal implications hang over our heads, as we strive to decipher the impact post-Brexit law will have on us and how we can best navigate our businesses to comply with the changing law and prosper from them. Did you know, that the Federation of Small Businesses gives business owners access to 24/7 Legal Support with real fully qualified lawyers who specialise in UK Law?

Legal questions, such as…

What happens to passporting in financial services?

What are the implications for employment law?

What about data protection and intellectual property?

How do you reshape your commercial contracts?

Can be answered by FSB lawyers. Brexit negotiations will dominate the political and business agenda for the next two years and FSB lawyers will be crucial to helping businesses tackle any challenges that come their way.

If you are interested in a career running your own fashion business this event could be very useful in helping shape your ideas. 

COST

£11.21 – £53.69

DATE AND TIME

Thu 15 September 2016

19:00 – 22:00

Add to Calendar

LOCATION

Home House London

21 Portman Square

London

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The World Health Organization estimates that over 800,000 people die by suicide each year – that’s one person every 40 seconds. Up to 25 times as many again make a suicide attempt. The tragic ripple effect means that there are many, many more people who have been bereaved by suicide or have been close to someone who has tried to take his or her own life. And this is happening in spite of the fact that suicide is preventable. 'Connect, communicate, care' is the theme of the 2016 World Suicide Prevention Day. These three words are at the heart of suicide prevention.

We did not comment on the day as it is a difficult issue and can create copycat actions when depressed people read about suicide. This report from the Samaritans does make interesting reading.

Download report below: 

The number of people seeking help with debt problems has hit a record high in 2016, with those affected increasingly likely to be younger, working part-time and renting their home, according to new research from StepChange Debt Charity.

The charity’s Statistics Mid-Yearbook, released today, shows that over 300,000 people sought advice from StepChange Debt Charity between January and June, the highest half-year number the charity has ever seen.

Those contacting the charity in the first half of the year were struggling with a total of £2.4 billion in unmanageable debt and owed an average of £13,826 each, with credit cards, overdrafts and personal loans the most common source of debt problems. Three in ten of those contacting the charity did not have enough money to pay their essential bills and credit commitments each month.

The figures show some respite for struggling households after the number in arrears on essential bills like rent, mortgages, utilities and Council Tax had stabilised after years of substantial increases. But the charity is warning that 40% of the people it sees are not able to meet essential bills, a number that remains well above the long-term average.

Work doesn’t necessarily provide a safeguard against debt

More StepChange Debt Charity clients are now in work than at any point since 2011. However, the charity’s clients are increasingly in insecure part-time work and less likely to be in full-time employment. Almost one in five (19%) are now part-time workers, up from 16% in 2011, whereas 30% of the charity’s clients are in full-time work, down from 34% in 2011.

The charity’s previous research has warned that the rise in zero hours, part-time and temporary contracts is contributing to people’s financial vulnerability, with volatile incomes making it difficult to get by and cope with sudden unexpected expenses.

Three quarters of those seeking debt help are now renting

The charity is reporting a dramatic increase in the proportion of people in debt who rent their home, with amounts owed also rising rapidly:

• 77% of clients are now renters, up from 55% in 2011
• 24% of the charity’s clients who rent are in arrears, up from 15% in 2011
• The average rent arrears now stands at £954, up from £769 in 2011, an increase of 24%.

When people are struggling with debt, they already face a battle to keep up with essential bills. As rents continue to grow faster than wages, it can leave them even more financially vulnerable.

Please see the statistics below: 

According to the Office for National Statistics, 2.9% (903,000) of employees said they work on a zero hours basis between April and June this year.

The figure is a 20% rise on the same period last year, when 2.4% (747,000) said they were employed on the controversial terms, which do not guarantee employees a set wage.

Some (55%) of those claiming to work on zero-hours contracts are women, compared with 45% for other types of contract.

A third of zero-hours workers are aged 16-24, while one in five people employed under the terms are in full time education.

Campaigners claimed victory earlier this week after controversial firm Sports Direct announced it would abolish zero-hours contracts for directly employed, casual retail staff.