348 posts categorised "Press releases"

28 July 2015

N Ireland economy growing at about half the UK rate.

Today’s Office for National Statistics (ONS) data suggest the UK economy grew by 0.7% during the second quarter of 2015 – a significant improvement on the 0.4% growth in Q1 2015. Today’s first estimate of Q2 growth implies that overall UK growth in 2015 could be at least 2.5%, close...

24 July 2015

Northern Ireland economy still growing, but well behind rest of UK.

Commenting on today’s figures from DETI/NISRA's Northern Ireland Composite Economic Index, Dr Esmond Birnie, PwC Northern Ireland chief economist said: “The Index confirms a number of messages about the NI economy, the most important of which is that the economy is still growing, but considerably more slowly than the UK...

22 July 2015

Over half of UK of 20-39 year olds will comprise “Generation Rent” by 2025

By 2025, people in private rented accommodation may outnumber owner occupiers who are still paying off the mortgage on their house purchase, according to research from PwC. PwC’s latest UK Economic Outlook (UKEO), published today [22 July] says that, across the UK, household owner-occupation is projected to fall from a...

08 July 2015

Accelerated corporation tax payments a 'burden on business".

Commenting on the Chancellor’s proposal to accelerate corporation tax payments by large companies, Martin Fleetwood, PwC tax partner in Northern Ireland said: “This measure will increase government’s 'tax take' in 2017/18 by £4.5bn and 2018/19 by £3.2bn. “That amounts to a significant acceleration of tax receipts into the middle years...

Accelerated corporation tax payments a 'burden on business".

Commenting on the Chancellor’s proposal to accelerate corporation tax payments by large companies, Martin Fleetwood, PwC tax partner in Northern Ireland said: “This measure will increase government’s 'tax take' in 2017/18 by £4.5bn and 2018/19 by £3.2bn. “That amounts to a significant acceleration of tax receipts into the middle years...

Chancellor's proposed corporation tax cut will impact on N. Ireland, says PwC

Commenting on the Chancellor’s announcement that he proposes to cut the UK rate of corporation tax, Dr Esmond Birnie, PwC chief economist in Northern Ireland said: “Taking corporation tax down to 19% by 2017 and 18% in 2020 will significantly reduce the potential impact of a 12.5% rate in Northern...

07 July 2015

Welfare cuts, tax breaks, Sunday trading – what's the forecast for Northern Ireland’s Summer Budget?

Tomorrow [Wednesday 8 July], George Osborne will deliver the first Conservative Budget since 1996. So, almost two decades after Ken Clarke stood at the dispatch box and delivered a cut in basic-rate income tax and an increase in tax thresholds, what can we expect tomorrow and how might the Summer...

Revenue taskforce targets £18m from Northern Ireland tax cheats

A special HM Revenue & Customs (HMRC) taskforce is to investigate the financial affairs of Northern Ireland taxpayers whose lifestyles don’t match their income, PwC has learned. Launched on 30 June, just days before the 8 July Summer Budget, the taskforce will specifically target people with so-called, “badges of wealth”,...

29 June 2015

Financial services firms want government to reduce cost of regulatory compliance – CBI/PwC

Reducing the cost of regulatory compliance should be the new Conservative government’s priority for financial services, according to firms in the banking, building society and life insurance sub-sectors. The latest CBI/PwC Financial Services Survey for the three months to June found that tax stability was also ranked highly and was...

24 June 2015

Harnessing economic power of older workers could boost UK GDP by £100bn

If the employment rate for UK workers aged 55-69 matched that of Sweden, it could boost UK GDP by 5.4% or around £100 billion, according to new PwC analysis. Pro-rata and assuming that employment opportunities were available, that would deliver around an additional £2.5bn into the Northern Ireland economy. PwC’s...
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