Inflation remains at historically high levels
After falling in April, inflation in the 12 months to May 2023 was unchanged at 8.7%, as current cost and price pressures persist, with households and businesses feeling the pinch.
Inflation had been expected to decline to 8.4% year on year, but now, to bring it under control a further interest rate rise from the Bank of England is expected by many.
Higher prices for air travel and recreational goods and services were a key contributor to inflation over the month, while this was offset by a fall in the cost of petrol and food prices not rising quite as quickly as they have been.
ONS Chief Economist, Grant Fitzner, said: “After last month’s fall, annual inflation was little changed in May and remains at a historically high level.
“The cost of airfares rose by more than a year ago and is at a higher level than usual for May. Rising prices for second-hand cars, live music events and computer games also contributed to inflation remaining high.
“These were offset by a fall in the cost of petrol. Food price inflation remains high, but the rate has eased slightly this month with costs rising more slowly than this time last year.”
Meanwhile core inflation – which takes out of consideration volatile items like energy and food costs – disappointingly rose in May to 7.1% from 6.8%, the highest reading since 1992.
Future of Sheffield’s Cole Brothers building will be decided next week
Next Wednesday Sheffield City Council’s Strategy and Resources Committee will meet to decide the future use of the former Cole Brothers building in Barker’s Pool.
The Committee will discuss a report outlining six proposals and decide whether to open detailed negotiations with the bidder recommended by Council officers.
The preferred bidder proposes to transform the building into a mixed-use space with cafes, retail, leisure, event space and workspace – with substantial areas of the building reopening for the public. The scheme and uses would complement the existing and proposed development within the rest of the Heart of the City project.
Cllr Tom Hunt, Leader of Sheffield City Council, said:“We are delighted to have the opportunity to decide the future of an important and much-loved building in the city centre. This promises to be a really positive step forward for Sheffield. We can’t wait to see the building come to life again over the coming years.
“It is fantastic to see high calibre developers showing so much interest in our city and willing to invest on a significant scale. It shows developers are watching and noticing Sheffield and want to be a part of the positive changes that are happening here.”
The plans would see Barker’s Pool and Cambridge Street entrances opened up to allow for outdoor dining areas. The rest of the ground floor would be filled with retail units, with particular interest in independent businesses, the lower ground floors would be used for leisure purposes. The upper floors would be workspace together with some rooftop offices.
It is proposed the existing car park structure would be maintained but with far fewer parking spaces for use by the tenants of the building. The structure would have public access to a pocket park at the top, as well as studio spaces and a gym on the upper levels.
Refurbishment of the building will be a ‘light touch, maximum impact’ approach with limited changes such as retaining and exposing existing features and cleaning the façade rather than replacing panels, whilst improving thermal performance.
Fake fag gang members get 26 years in prison after Lincolnshire farm raid
A gang caught red-handed with millions of counterfeit cigarettes at a Lincolnshire farm has been handed prison sentences totalling 26 years.
The village of Midville in East Lindsey was the base for the gang caught with more than 6.5millon cigarettes, worth more than £1.8m in evaded duty.
Officers from HM Revenue and Customs arrested Marcin Kopec, 44, and Wojciech Rymarczuk, 46, as they unloaded three large shipping containers at the farm in June 2019.
Gang leader Tomasz Skubis, 37, and co-conspirators, Idrees Ahmed, 44 and Ali Tofiq, 45, were arrested on the same day 19 miles away on the A58 near Baumber in a hire car that had been linked to the gang.
A sixth gang member, 32-year-old Ihtesham Khalid, was linked to the smuggling operation through surveillance, phone calls and text messages.
Richard Paris, Assistant Director in HMRC’s Fraud Investigation Service, said: “This gang was large, organised, sophisticated, and determined to break the law. Illegal cigarettes come at a huge cost stealing money from our vital public services.
“Anyone with information about people or businesses involved in the sale, storage or smuggling of illicit tobacco can contact HMRC online. Search ‘Report Fraud HMRC’ on GOV.UK and complete our online form.”
All six men were convicted of conspiracy to evade excise duty following a four-week trial at Nottingham Crown Court. The seized Richmond cigarettes were tested and found to be counterfeit.
During the sentencing, His Honour Judge William Harbage remarked that the monies evaded should be used to fund public services. Speaking to Khalid he said: “The evidence you gave was nonsense and beyond belief. The Jury did not buy it for one minute”.
Wojciech Rymarczuk, Marcin Kopec, and Tomasz Skubis did not attend the trial and were convicted and sentenced in absence to a total of 16-and-a-half years.
Warrants have been issued for their arrest and anyone with information about their whereabouts should contact HMRC online.
Tofiq, from Littleover, Derby, and Ahmed, from Longsight, Manchester were each jailed for three years. Khalid, from Rowley Regis, West Mids, was handed a three-and-a-half-year sentence.
More than 200 firms forced to pay workers left out of pocket by minimum wage law breaches
Over 200 employers including WH Smith and Marks & Spencer have been named by government for failing to pay their lowest paid staff the minimum wage.
The 202 employers – who’ve now paid employees the balance – were found to have failed to pay their workers almost £5 million in breach of National Minimum Wage law, leaving around 63,000 workers out of pocket.
Companies named include major high street brands, small businesses, and sole traders, in a clear message from government that no employer is exempt from paying their workers the statutory minimum wage.
Minister for Enterprise, Markets and Small Business Kevin Hollinrake said: “Paying the legal minimum wage is non-negotiable and all businesses, whatever their size, should know better than to short-change hard-working staff.
“Most businesses do the right thing and look after their employees, but we’re sending a clear message to the minority who ignore the law: pay your staff properly or you’ll face the consequences.”
The businesses named have since paid back what they owe to their staff and have also faced financial penalties. The investigations by His Majesty’s Revenue and Customs concluded between 2017 and 2019. The employers named today previously underpaid workers in the following ways:- 39% of employers deducted pay from workers’ wages.
- 39% of employers failed to pay workers correctly for their working time.
- 21% of employers paid the incorrect apprenticeship rate.
“Regular naming rounds should be a useful tool in raising awareness of underpayment and helping to protect minimum wage workers.”
The full list of companies and the amounts by which they underpaid employees can be found here.Business owners warned of ‘grey fleet’ vehicle dangers during hybrid working
Diligent business owners could unwittingly be putting themselves at risk of significant legal and financial consequences through failing to enact duty of care surrounding their grey-fleet drivers.
Whilst it has been over three years since the first pandemic lockdown, almost a third (28%) of working adults are still hybrid working with 16%i solely working from home. If an employee’s place of work clause in their contract has changed to home working, their privately-owned car will automatically join the ranks of the grey fleet, when used for work related travel. Employers who are unaware of their legal obligations to ensure staff owned vehicles used for work related travel are properly maintained and legally compliant, may be unknowingly missing duty of care requirements.
Simon Staton, Client Management Director of Venson Automotive Solutions, which has premises in York, explains: “Employers have a duty under the Health and Safety at Work Act 1974 to ensure, as far as is reasonably practicable, the health, safety and welfare at work of their employees. With around half (49%ii) of UK drivers admitting to skipping essential servicing and vehicle repairs amidst the cost-of-living crisis, it is more important than ever that processes are in place to manage aspects such as driver licence checking, insurance validity, vehicle condition and mileage audit amongst grey fleet vehicles. Businesses and fleet managers, therefore, need to review their Driving for Work policies as working from home looks set to stay for some businesses.”
It’s not only service and maintenance of grey fleets that businesses must consider. Grey fleet vehicles are often older than company owned cars so can contribute disproportionately to a company’s carbon footprint. In fact, new research reveals that the average car in the UK is now ten years old. By promoting workplace benefits like salary sacrifice schemes, not only can employees make savings over a retail deal for electric vehicle, but the implementation of such an arrangement supports the ‘green’ agenda for businesses.
“Of course, for many employees, buying a new car is a stretch just now,” says Mr Staton, “The key benefits of salary sacrifice, however, include a fixed all-inclusive monthly fee so drivers don’t get unexpected maintenance costs. Employees also get National Insurance savings, ‘hassle-free’ acquisition, with no credit check or deposit needed and fleet discounts and for some organisations a beneficial VAT position reflected in monthly costs.
“With hybrid and homeworking becoming a permanent fixture more cars risk edging into the grey fleet. Business owners and fleet management teams must keep on top of this to ensure they are not putting their firm or employee at risk, especially with an aging, less well-maintained UK car parc. They might also want to consider alternative options like rental or EV pool cars for those occasional driving for work employees. It all helps to cut the burden of managing a grey fleet and reduces CO2 emissions at the same time.”
British Steel employees win national awards
The Institute of Materials, Minerals and Mining has named two British Steel employees amongst the list of winners.
recently announced its 2023 winners and 2 British Steel employees were among the winners of these prestigious awards.
The Institute awards celebrate individuals and organisations who have made exceptional advancements to the profession and raise awareness of both engineering and scientific excellence and industry best practice.
Dr Andy Trowsdale, Head of R&D, has been awarded the ‘Tom Colclough Medal & Prize’, presented in recognition of learned contribution to understanding microstructure, mechanical properties, fabricability or in-service performance, production or engineering in the iron and steel industry.
He said: “I feel most honoured that the Institute believes my contribution to the metallurgy and processing of steels is worthy of recognition and have made this award. The award recognises the endeavours of many individuals within the great team at British Steel and colleagues outside the company without whose collective efforts this accolade would not have been made. Thank you!”
Dr Andrew Smith, Customer and Technology Manager at the company’s Special Profiles business won the inaugural ‘Henry Royce Institute Award for Innovation by a Technical Professional’. This award recognises the vital contribution technical professionals make in advancing technology and understanding of the materials world. Andrew was nominated by his manager Customer Quality and Technical Manager Dominic Hill – something Andrew was unaware of, so the win came as something of a surprise!
He said: “To receive this award is a special honour, particularly as it recognises all-important technical innovation. This is so important as I know many very gifted technical experts who make critical and valuable contributions in their areas – for me this isn’t something I can do on my own. The work I have been involved in has included many colleagues across different departments, so delivering the technology improvements achieved at Special Profiles has been a team effort.”
Both will now attend the award ceremony in December where they will be joined by IOM3 President Dr Kate Thornton.
Plans for historic Whitby landmark to become a cultural hub
Plans have been submitted to bring Whitby’s historic Old Town Hall back into use for the benefit of residents and visitors.
North Yorkshire Council have lodged two applications, one for building repairs, first floor restoration and Market Place improvements.
The second application is to install sliding glazed partitions within the undercroft of the Grade II* listed building off Church Street.
The aim is to turn the area into a year-round space that can be used for community events and cultural activities alongside the current market on the site.
The uses listed in the applications are for the sale of goods by the market traders, as well as the display of art, a museum and a community meeting space.
The plan was one of six priority projects from the Whitby Town Investment Plan chosen to proceed to delivery under the Department for Levelling Up, Housing and Communities’ Towns Fund programme which saw Whitby secure £17.1 million in funding.
Whitby Town Council and the Whitby Town Deal Board have worked alongside North Yorkshire Council to progress the project, which is worth £1 million.
Match-funding still needs to be secured for the glazed element of the scheme and this will be taken forward once planning permission has been granted.
Executive member for open to business, Cllr Derek Bastiman, said: “This project is a great example of councils and the community working together.
“The initial designs for the project included a level stepped platform in the Market Place. Following engagement and public feedback that the step looked out of place, we amended the designs and took it out.
“Once completed, this will revitalise and rejuvenate the Market Place area of Whitby and can be used to provide a space the community can be proud of.”
It is hoped work will start later this year and be completed by March 2025.
Cllr Neil Swannick, the local member for Whitby’s Streonshalh division, said: “Bringing the Old Town Hall back into use has been a popular idea in Whitby for a long time, so it is very exciting to see it coming to fruition.”
Development and design work for the project has also been aided by a £15,000 grant from the Architectural Heritage Fund.
Cllr Linda Wild, a Whitby town councillor and a member of the Whitby Town Deal Board, has been involved in the project since its inception.
Cllr Wild added: “The aim of this project is to give the town hall a sustainable future as we want it to still be here in 100 years.
“If we get the funding for the glazing, it would allow us to utilise the undercroft all year round.
“There has been some speculation locally that the plans involve a café, and I would like to reassure people that is not the case and never has been.”
The town hall was built in 1788 after being commissioned by Lord of the Manor, Nathaniel Cholmley, and was also the location for the first ever Whitby Literary and Philosophical Society meeting in September 1823.
Eventful times for business
Companies the length and breadth of the UK are becoming increasingly brow-beaten by a seemingly relentless deluge of gloomy economic news.
Leadership teams grappling with rising costs, will be drawing up efficiency plans in a bid to identify how they can achieve more with less.
When it comes to increasing effectiveness there are a selection of obvious business levers to pull, but there are also some simple yet deceptively powerful principles that can help make big impacts to bottom lines. Improving customer retention can contribute to impressive increases in revenues of between 25% and 95%.
Keeping staff is another way for businesses to make gains, as reducing staff turnover means less hiring costs, increased productivity, and delivers a better customer experience. Achieving retention takes creativity particularly given that quiet-quitting, rapidly diminishing attention spans and time poor audiences are growingly prevalent considerations. As well as the more obvious choices of reward and recognition, delivering great customer service, loyalty, referral incentives and so on. A good old-fashioned face to face can be incredibly powerful when it comes to both winning and keeping clients or staff.
The pandemic was a catalyst for change and served as a reminder that there really isn’t any substitute for human contact no matter how high-tech a virtual setting may be.
Karis Hildred is an events specialist who manages an award-winning venue and events operation, she shared some insights saying: “We were honoured most recently with a bronze award from the M&IT which has been a superb stamp of approval for our venue.
“The last few years have been eventful to say the least with most people adapting roles and rapidly upskilling to take events online through the pandemic. Now, in a post Covid world, like many, we are bracing ourselves.
“We’re holding on to the hope that our industry won’t be affected again on such a massive scale as we enter a potential economic crisis. But we’ve found that organisations are still focusing on planning events and their priority is ensuring that every one of their guests gets maximum value from attending. Clients are looking for the wow factor that simply cannot be delivered online.
“We’ve seen a huge increase in full day event bookings which incorporate experiences. Our venue and events centre is housed in a beautiful 200 year old building owned by a fourth generation family of coffee roasters, Stokes Tea & Coffee. This is fantastic for us as we can include tours of the onsite coffee roastery followed by tastings or ‘have a go at latte art’ classes at the Barista Academy located in the same building.
“These dynamic elements allow the event organisers to interact with their guests in exciting and informal ways. Being able to provide such a wide range of unique options as well as a full range of events and venue services is valuable to our clients.
“Shared experiences allows them to break down barriers and interact with their clients, along with having the right facilities to do the important stuff and deliver those key messages. Attendees want to walk away with something extra that cannot be delivered through a screen. Clients want to see, smell and taste an event and organisers stepping into this new field want to deliver these experiences with exceptional customer service.”
Debbie Connelly, Head of Awards and Conferences Operations, Northstar Meetings Group, organisers of M&IT Awards, said: “From galvanising workforces to spreading knowledge and inspiring innovation, the meetings and events industry has played a crucial role in rebuilding economies in the aftermath of the pandemic.
“Our latest research shows that, while business remains challenging, optimism about the continued return of in-person events continues to grow. That’s because, ultimately, you can’t replicate the in-person experience online – the special buzz you get when people are in the same room. At a time when hybrid working has become the norm, events like the M&IT Awards play an even more crucial role in bringing people together and celebrating success.”
Budgets are tightening and the competitive environment is hotting up, so finding ways to cut through the noise and stand out from the crowd is crucial. The newfound popularity of in-person conferences is not just a result of people missing these interactions but rather that businesses are seeing real benefits.
Businesses are using events to elevate their company brand, convert sales opportunities more rapidly, build contact lists and data, strengthen existing relationships to realise greater potential and value, build a collaborative approach to a collective problem or challenge, generate new leads and so much more.
Putting on an event or arranging a conference doesn’t have to be costly, complicated or cumbersome. Using professional organisers and setting clear objectives is a focused way of achieving real results.
The next 12 to 18 months look set to be far from plain sailing for all businesses everywhere. But resisting the urge to batten down the hatches and using ingenuity to reach the people that count in personal ways can make all the difference.
Karis’ Top Tips For Event Success:
1. Have clear objectives – share these with your event organiser to achieve concrete outcomes.
2. Do something different – choosing the best venue with great facilities is a good start but consider what else is on offer to make your event unique and memorable.
3. Make it worth it – budgets need a pay back and so do your attendees – consider what’s the value for both.
4. Plan ahead – it may seem obvious but allowing enough lead-time will take your event from good to great.
5. Share the load – choose an organiser and venue with the solid facilities, expertise and the flexibility to make your event unique to elevate your brand and be remembered long after the car park is cleared.
Find out more at: Wedding Venue | The Lawn | England (lawnlincoln.com)
Helmsley Group marks another successful year after £17m regional investment
Property investment specialist Helmsley Group is celebrating another profitable year for the business, having invested £17m in properties across Yorkshire over the last year on behalf of its client investors.
The York-based business, which has reported a year-on-year increase in profits of circa 20% across the Helmsley Group of Companies, has also seen further consistent growth in its network of over 800 client investors.
The positive performance comes following a milestone year for Helmsley, which included the submission of plans for Coney Street Riverside, a once-in-a-generation scheme that seeks to significantly regenerate York’s underutilised riverfront.
It has also continued to invest in its specialist team of property professionals, with head of asset management, Alexia Swift-Cookson, having been made a director, and Tom Riddolls having joined as a development surveyor.
Earlier this year, the Helmsley Group of Companies announced the launch of Yorcation, a holiday lettings specialist aimed at helping owners of holiday lets provide the best possible guest experience.
Richard Peak, Managing Director at the Helmsley Group, said: “With my 25th anniversary of working with the business approaching, I have spent time reflecting on Helmsley Group’s success to date. I’m hugely proud of the continued investment and impact that we have made across the Yorkshire region, with these results demonstrating that property continues to be a secure investment, despite ongoing market volatility.
“We have always prided ourselves on investing and developing in the areas we know and understand best, so as to deliver the best possible returns for our client investors, and this year has been no exception. We want to say a huge thank you to all of the team for their ongoing hard work and their commitment to this strategic, sensitive approach to property.”
Three major occupiers secured for Grade A Leeds office building
Three major occupiers have taken up two floors at Fiera Real Estate UK (FRE UK) and Opus North’s completed building, 12 King Street, in the heart of the Leeds Business District.
Global consultancy, Arcadis, is set to shift their local team to 12 King Street. Michael Page, a leading UK recruitment company is also set to occupy a floor in the building, relocating staff from their current location in Leeds.
Reward Finance Group, a market leading funding provider, are the third party to sign up to the landmark building, which comprises 54,000 sq ft of Grade A space. These three occupiers join Endless and Rothschild who recently relocated their Leeds offices to 12 King Street.
A significant £11m transformation of the building, which was completed in June 2022, includes a striking new facade, a complete replacement of the fifth and sixth floors, a state-of-the-art cycle spa, extensive roof terraces and the addition of a sky lounge which offers a unique communal space for occupants.
Sustainability and environmental considerations have also been at the forefront of the design of the redevelopment. The scheme has achieved a 14% reduction in carbon emissions, 29% less energy consumption for heating and cooling, and 42% less water consumption.
Ryan Unsworth, joint Managing Director at Opus North, said: “We are thrilled to secure three more major occupants who are relocating their main offices in Leeds to 12 King Street. It’s a real testament to what is happening in the office market – occupiers are seeking the very best, most-inspiring, workspaces for their teams and clients, as well as demanding buildings with strong sustainability and environmental credentials.”
Chris Button, head of value add at FRE UK, added: “We are delighted to have secured three market-leading occupiers for this landmark building, which has been substantially remodelled and refurbished to achieve our ambition of delivering a cutting-edge office space that promotes wellbeing and a truly future-proofed building in one of the UK’s major regional markets.”
Clair McGowan, associate director at CBRE, said: “This is truly a spectacular building which provides inspiring spaces to encourage creative thinking, team collaboration and social interaction. It is the workplace of the future following a comprehensive refurbishment with flexibility and technology at the heart of its redesign.
“It is also a healthy building that encourages wellbeing and productivity, a real draw for office professionals returning to the workplace. We are delighted to secure all three parties in this state-of-the-art building in a prime location in the city.”
Nick Salkeld, director at Fox Lloyd Jones, said: “We’re very proud to have acted on these significant lettings proving the demand for quality workplaces within the Leeds office market. 12 King Street has set a new benchmark for its combined sustainability, wellbeing and digital connectivity features and it’s a true testament to welcome more major businesses.”
A further floor and half is under offer and in legals, leaving just 12,000 sq ft remaining ready for occupation, with CBRE, Fox Lloyd Jones and Knight Frank acting as letting agents on the scheme.
