Tags: uk economy

UK companies to maintain 3% salary increases next year

British companies are planning to maintain this year’s average 3% salary increases in 2014 for the third year running, with the country’s inflation figure expected to remain stubbornly high, according to Towers Watson’s biannual Salary Budget Planning Report. The level of salary increase is broadly in line with other countries in Western European and North…

UK economy is becoming even more dependent on financial services

The government is failing in its pledge to rebalance the economy, which is now more dependent than ever on financial services, according to the latest TUC economy report. The TUC report shows that on the eve of the recession the UK economy had four key imbalances: low levels of investment, an over-reliance on financial services,…

New EU pensions law threatens UK economy and jobs

Businesses would have to inject at least £300bn into their final salary (defined benefit) pensions if a new EU law goes ahead, causing knock-on damage to the UK economy and jobs market. It would also lead to the closure of more final salary pensions in the private sector, the National Association of Pension Funds (NAPF)…