Economists suggest that they still believe pay growth - which has lagged behind inflation for seven months in a row - would start to rise next year, but stressed 'uncertainties' around this remained. And they reiterated that Brexit remained the biggest cause for uncertainty for the UK economy.
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One major fiscal event a year 2 January 2018
The new year brings with it not only the excitement of a Royal Wedding but also a further diary date for our diaries.
The publication of the Spring Statement will allow the government to respond to the forecast from the Office for Budget Responsibility (OBR).
The publication, on Tuesday 13 March 2018, will see the Chancellor of the Exchequer departing from holding two ‘major fiscal events’. It is fair to assume that professionals working across business, accountancy, taxation, pensions as well as payroll will heave a huge sigh of relief as we look to revert to ‘the norm’ after becoming the only major advanced economy to make major changes to the tax system twice a year.
Let us hope that Spring Statement 2018 lives up to that promise and our expectation.
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New ministerial appointments following political reshuffle 11 January 2018
As part of the latest Cabinet reshuffle, David Gauke has replaced David Lidington as Secretary of State for Justice and Lord Chancellor.
Mr Gauke’s previous appointment from June 2017 was Secretary of State for Work and Pensions which followed his position as Chief Secretary to the Treasury.
Justine Greening reportedly resigned from the government after refusing to accept the position of Work and Pensions Secretary in Theresa May's cabinet reshuffle.
Greening has been replaced by Damian Hinds as Secretary of Sate for Education, while Esther McVey has been promoted to be the new Work and Pensions Secretary, replacing David Gauke.
The Prime Minister’s new listing of cabinet members can be accessed below.
Ministerial appointments: January 2018
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Change to Immigration Rules from January 2018 12 January 2018
The government has published a statement of changes to the immigration rules, the key policies of which came into force on 10 January 2018.
The purpose of the main changes is to:
The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
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