Glazers is a well-established and progressive firm of accountants based in North West London.
In spite of recent data showing that the UK economy is forging ahead with low interest rates and that unemployment is falling, household are generally feeling less optimistic about their finances than at any time since April this year.
Housing has been in the news this week, with an unexpected fall in the price of property being reported in October plus the rate of home repossessions dropping to their lowest for five years and rent arrears falling to 2008 levels.
According to the Governor of the Bank of England, the economy of the UK will grow faster than expected and unemployment will reach the 7 per cent target quicker than first predicted.
Inflation fell unexpectedly from 2.7 per cent to 2.2 per cent in October, taking it to its lowest level in more than a year, as measured by the consumer prices index (CPI).
The Royal Institution of Chartered Surveyors (RICS) has warned that the number of houses on the market in the UK is nowhere near enough to keep up with rocketing demand and is calling on the Government for urgent action to address the problem.
Confidence levels among the owners of small manufacturing businesses are rising at the fastest pace in 25 years, according to the Confederation of British Industry’s (CBI) recent survey.
The tax on the super rich who try to dodge stamp duty by making their residential purchases through overseas companies, which was announced in last year’s Budget, is starting to take effect.
New research from the think tank Policy Exchange has found that property taxes in the UK are the highest in the world, equating to 4.1 per cent of GDP, or £70bn, whereas the average in the developed world is just 1.8 per cent.
Prime Minister David Cameron is looking at fining larger businesses that fail to pay suppliers on time in a bid to tackle the “devastating” impact of late payments on small firms.