Keep up to date with what’s been happening this week in our accountancy and finance news round-up…

 

Public sector debt doubles to £7.2bn for June

Public Sector borrowing hit £7.2bn last month, blasting pasts economists’ forecasts to record the highest June total since 2015, public data revealed today.

No-deal Brexit would plunge Britain into a recession, says OBR

A no-deal Brexit would plunge Britain into a recession that would shrink the economy by 2%, push unemployment above 5% and send house prices tumbling by around 10%.

Public sector workers ‘to get £2bn pay rise’

Two million public sector workers are reportedly set to get a £2bn pay rise.

KPMG to help embattled Jack Wills ‘assess all options’

Advisory firm KPMG is set to work with Jack Wills on a possible restructuring, amid talk of a cash crisis at the retailer.

FRC proposes changes to ethics and audit standards

The Financial Reporting Council (FRC) wants to change, among other things, the way firms test for independence and the authority given to ethics partners within firms.

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