Rising tax burdens and energy bills are also impacting profitability.
Inflation remains a key concern for business
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Current Affairs
Bank of England raises base interest rate to 3.5%
MPC votes 6-3 to increase the rate by 0.5%.
Inflation rate drops slightly in November
The annual inflation rate reduced by 0.4% in the past month.
Economic outlook bleak despite 0.5% rise in GDP
Recession looms as the economy shrinks in the three months to October.
Energy price cap removes risk for one in four businesses
Government urged to extend support for businesses.
Government urged to boost economic growth
The CBI says the UK will lose ten years of growth if no action is taken.
Inflation and energy prices remain top business concerns
Businesses showing signs of strain towards winter.
Black Friday sees upturn in retail sales
Spending data shows a 33% increase in retail footfall.
Manufacturing sector facing a tough winter
Despite a rise in output volumes, production is expected to decline.
Five-year mortgage rates fall below 6%
New data indicates mortgage rates are returning to normal.
Tax take soars to £432.8bn
Total tax take for 2021/22 so far is £41.5bn higher than last year.
CPI rises to highest level in 40 years
Rising energy costs considered to be the main contributor.
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