UK Economy

This comes even as income tax paid overall since 2009 has increased by £23bn.

Office for National Statistics estimates the UK economy grew 2% in 2016 as a whole, down from 2.2% in 2015.

Scotch whisky industry employs 40,000 people nationwide and delivered a £3.7bn boost to Britain's trade deficit in goods.

Senior executives from both companies said that they would move certain businesses to other countries in Europe.

While 29% of exporting small firms believe exports would decline amid Brexit, 20% expect it to increase.

Public borrowing falls less than expected in December but remains 14% lower year-on-year in first nine months of 2016-17.

Companies may not opt to move to Amsterdam as the Netherlands has a cap on bonuses paid to bosses.

Dollar declines against main rivals after US president hints at protectionist policies to 'put America first'.

Shell, HSBC and GlaxoSmithKline were the top three dividend paying companies in 2016.

Only 10% of firms were found to be more optimistic as compared to the 45% that were less optimistic.

While Morgan Stanley is expected to shift around 1,000 UK jobs, Citigroup's number stands at about 100.

Rising inflation and Black Friday sales saw shoppers keep their hands in their pockets over Christmas.

Apart from benefiting passengers, the project is expected to help the economy by creating several jobs.

Number of unemployed people in the UK declines to 1.60 million as unemployment rate remains at 4.8%.

The new staff will be employed across software engineering, behavioural economics and algorithm development.

But the proportion of businesses expecting to increase investments over the next year has declined.

The Oxford Economics and Baker McKenzie study, however, said M&A activity would rise moderately in subsequent years.

Households did not hold back on grocery spending last Christmas – before a tougher 2017 sets in.

Centre will foster a better understanding of the consequences of the UK withdrawing from the EU.

Mark Carney calls for transitional Brexit period to minimise impact on UK's financial sector.

Sterling drops below $1.21 for the first time since late October as dollar surges ahead of Donald Trump's press conference

UK industrial production rises for the first time in three months as it grows 2% year-on-year in November.

The FTSE 100 ended 2016 with an all time high of 7,142.

Growth spiked during the period as there was a sharp rise in the sale of festive foods and gifts.

The sphere of economics has learnt to its cost that unorthodox thinking is not some inconvenient balderdash.

While spending increased 2.6% on-year in December, it was lower than the 3.1% increase seen in November.

Outlets in London, Richmond and Exeter among the ones to be shut amid declining footfall.

BDO High Street Sales Tracker revealed that December 2016 sales had declined 0.1% year-on-year.

Markit PMI in December hits 56.2, beating forecasts and marking the fifth month of expansion.

BCC said the fall in the value of the pound helped offset the uncertainty caused by the Brexit vote.