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A new business council has been appointed by the UK Prime Minister to report from the business frontlines and to encourage stability and growth in the UK economy.

Last week the Office for National Statistics (ONS) stated that the UK's rate of inflation dropped to 7.9% in the year to June, which means the rate of price rises in the UK has slowed more than expected, down from 8.7% in May - although it still remains high. Falling fuel prices contributed to the drop, while food prices rose less quickly than in June last year. Experts are predicting that the Bank of England will increase interest rates by a minimum of a quarter per cent in August as they continue with their plan to get inflation down to 2 per cent.

The Royal Mail have added barcodes to their regular stamps. After 31 July 2023, regular stamps without a barcode will no longer be valid. You can either use up these stamps before this deadline or swap them for the new barcoded ones.

With all of the changes to personal pensions in the Spring Budget, maximising the State Pension entitlement should not be overlooked. The full rate of new State Pension increased to £203.85 per week (£10,600 pa) from 6 April 2023; a 10.1% increase over the 2022/23 rate, as a result of the “triple lock” being restored.

The Insolvency Service has launched a new online information hub to support company directors. The hub hosts guidance and information on a range of business themes commonly faced by companies and aims to help company directors to push their business forward by being more aware of potential pitfalls.

Energy-intensive businesses and heat network operators have less than three weeks to apply for UK Government support that could see their wholesale energy bills reduced by as much as a fifth.

We never know what life has in store for us. We hope that everything goes our way, but we can’t guarantee it. What can be guaranteed is that the bills keep coming in even if our income doesn’t.

After some of the hottest temperatures seen on record last month we have been reminded about global warming and how small businesses could help the drive towards net zero.