Credit, Collections & Insolvency News
The IoD Directors’ Economic Confidence Index, which measures business leader optimism over prospects for the UK economy, fell to -54 in September, from -49 in August 2026. In contrast, business leaders became significantly more optimistic about the prospects for their own organisations, with confidence rising to +10, from -5 in August. The data showed that…
Read more
The UK economy expanded by 0.5% in the second quarter, an upgrade from the initial 0.4% estimate and following 0.6% growth in Q1, official figures from the Office for National Statistics show. Annual growth was also revised higher to 1.4%, although the estimate for full-year 2025 growth was reduced to 1.2%. Consumers continued spending during…
Read more
Prime Minster, Andy Burnham has announced plans to reform the state pension triple lock from 2030, with the changes intended to generate savings to help fund a proposed national care service in England. The Prime Minister said the triple lock – which sees pensions rise each year by whichever is highest of inflation, average earnings…
Read more
Business confidence fell 12 points to 41% in September, the lowest level since April 2025, according to the Lloyds Business Barometer. This decline follows August’s reading of 53%, the second highest recorded this year, and buoyant results since May. While confidence remained well above the survey’s long-term average of 30%, it was six points below…
Read more
The Chancellor must use next month’s Budget to give businesses the breathing space they need to deliver growth – including by freezing the business rates multiplier for one year – according to the chartered accountancy body ICAEW. Research from ICAEW, which was used to form its Budget submission to HM Treasury, pointed to a clear…
Read more
Directors are being warned to verify their identities with Companies House or risk prosecution after the Insolvency Service secured its first convictions for these offences. Jill White and Marc Dillon, directors of White (Reading Properties) Limited, and Modinat Banjo, director of J Isogony Apparel Limited, were fined at City of London Magistrates’ Court. Identity verification…
Read more
A review by the Financial Conduct Authority (FCA) has found no evidence that its regulation is a major barrier to SME access to finance. Many of the challenges identified relate to wider market, information and capability challenges. The review found that the challenges are often greatest for microbusinesses, which make up 95.5% of all SMEs…
Read more
UK inflation accelerates to 3.1% per cent in July, up from 2.6 per cent in June, according to the latest data from the Office for National Statistics (ONS) Motor fuel was the biggest driver of the latest rise, with the energy shock feeding through to household costs. This figure sits above the Bank’s 2% target…
Read more
HM Treasury, the UK’s economics and finance ministry, has recorded more than £62 million in invoices were paid late over the past three years, despite the announcement of the landmark reform to crack down on late payments earlier this year in May. The data obtained via a Freedom of Information request and analysed by the…
Read more
Latest figures from the Office for National Statistics (ONS) have shown that the UK economy grew in July, despite the impact of the Iran war. The data showed a 0.4 per cent increase in gross domestic product, compared with 0.3 per cent in June. The warm weather and World Cup were cited by some businesses…
Read more
The Institute of Directors is calling on the Chancellor to focus on restoring business confidence in his next budget, encouraging private investment and creating the conditions for stronger long-term economic growth. The IoD argues that while the UK economy has delivered stronger growth than many comparable advanced economies in recent years, persistent weaknesses in investment,…
Read more
A London hotelier who blamed the banks for not chasing him over repayments has been sentenced after securing £450,000 in Covid loans at the height of the pandemic. Richard Courtenay’s nine Bounce Back Loan applications in May and June 2020 involved fraudulent declarations about the turnover of five companies and applying for multiple loans when…
Read more
Chancellor John Healey has set out his plan to drive growth in the UK. Speaking at the Manufacturing Technology Centre in Coventry, the Chancellor laid out how he will take an axe to delays holding back growth, from backing British business and giving local leaders more power, to clearing away the delays that hold back…
Read more