AGP Executive Report
Last update: an hour agoHousing: UK house-price growth slowed to 0.5% in October, its weakest since January 2024, while prices were flat month on month at £273,566. Nationwide cited rising mortgage costs and inflation concerns. Budget fallout: Business groups say the new rates relief will do little to reverse high-street decline, while Lloyds warns a £1.5bn bank-tax rise could undermine growth. The IFS also forecasts the weakest decade of household-income growth on record. Business costs: HMRC will raise the tax-free mileage rate for business travel above 10,000 miles from 25p to 35p per mile from April 2027; the trading allowance will rise to £3,000. Industry and investment: UK vehicle production jumped 36.3% in September, but output remains 3% lower year to date. From April 2027, overseas firms winning defence contracts worth more than £50m will be required to invest an equivalent amount in UK factories, jobs and training.
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