Bank of England holds interest rates at 4% as inflation remains ‘sticky’

Seven MPC members voted to leave interest rates untouched The Bank of England’s (BoE) Monetary Policy Committee (MPC) has voted to leave its base rate unchanged at 4%, a move widely anticipated by analysts and markets. In a meeting today, seven MPC members voted to leave interest rates at 4%, having decided to cut rates by 25bps at the last …

UK inflation rises to 3.8% in July

Core CPI also up to 3.8% The UK Consumer Prices Index (CPI) rose to 3.8% in the 12 months up to July 2025, according to data from the Office for National Statistics (ONS), up from 3.6% in June. This figure exceeded market forecasts, as economists surveyed by Reuters had anticipated a 3.7% figure instead. Core CPI rose by 3.8% year on year …

Government confirms review of state pension age

Dr Suzy Morrissey has been appointed by DWP to prepare an independent report ahead of the review. The government has today launched the third review of state pension age. First announced in July, the review will consider whether the rules around pensionable age are appropriate, based on the latest life expectancy data and other evidence. The government is set to …

Government publishes legislation to bring pensions into inheritance tax

The measure will bring unused pension funds and death benefits into the scope of inheritance tax from April 2027. The government has confirmed that it will bring most unused pension funds and death benefits into scope of inheritance tax from 6 April 2027, despite growing concerns from the pensions industry. First announced during the 2024 Autumn Budget, the draft legislation means that …

Bank of England meets expectations and cuts rates to 4%

Lowest level in two and a half years Interest rates have been cut to 4% by the Bank of England (BoE) Monetary Policy Committee in a move that was forecasted. So far, the BoE has opted to cut rates twice this year (February and March) while holding at the last one in June. Now the 4% rate cut means that interest …

Govt ‘blows chance’ to bin original IHT/pension implementation plans

Unused pension funds will fall under IHT scope from April 2027 The government is ploughing on with its plans to bring unused pension funds into the realm of inheritance tax (IHT) despite a “deluge of criticism” from industry practitioners during a consultation phase during which they put forward alternative options. The Treasury has today (22 July) released draft legislation to bring undrawn …