Five things CAs need to know this week: 12 December 2016
A look ahead to some of the things happening in business, accountancy and politics this week.
1. Bank of England interest rate decision due
The Bank of England Monetary Policy Committee will announce the latest update to UK interest rates on Thursday (15 September).
Interest rates were cut to a record low of 0.25% earlier this year in response to the EU referendum result. A further reduction before the end of the year was hinted at the time, but has since become unlikely.
Andy Haldane, the Bank's Chief Economist, said: "My personal view is that [the chance of underperforming growth] provides grounds for not proceeding too hastily with any tightening of the monetary policy stance."
2. Scottish Draft Budget to be published by Holyrood
Scotland's Finance Secretary Derek MacKay will present his draft 2017/18 Budget to Holyrood on Thursday (15 December).
The Scottish Government will be proposing an economic policy which will see higher-rate Scottish taxpayers subject to a more punitive tax regime than their English counterparts for the first time.
Derek MacKay is expected to face a significant amount of opposition to the controversial change, The Scotsman reports.
3. UK employment figures to be released by ONS
4. End of year summit for EU leaders
President of the European Council Donald Tusk has invited leaders for an annual meeting to be held in Brussels on 15 December.
In contrast to previous years, the summit will last just one day and ends with a formal working dinner, to which Theresa May has apparently not been invited.
A press conference with the President of the European Council, the President of the European Commission and the Prime Minister of Slovakia, the country holding the rotating presidency of the EU Council, will take place at 18:30 CET (17:30 GMT).
5. Results from Dixons Carphone, Begbies Traynor and FreeAgent
- Monday: Interims due from Ensor Holdings.
- Tuesday: Interims due from Begbies Traynor Group and Byotrol. Finals due from Hollywood Bowl Group, Pressure Technologies and Zytronic.
- Wednesday: Interims due from Dixons Carphone, FreeAgent Holdings and Micro Focus International.
- Thursday: Finals due from Falanx Group.
- Friday: Interims due from Polar Capital Technology Trust.