Trade associations have written to the new Secretary of State for Business, Energy and Industrial Strategy (BEIS) Greg Clark, urging caution over the government’s policy to raise the national living wage significantly by 2020

The University of Brighton has taken matters into its own hands by introducing their own 10p levy on sugary drinks, ahead of governments plans for a UK wide levy, as part of a campaign to cut sugar consumption

The list of ministerial responsibilities for the newly created Department for International Trade has been confirmed, including details on the job role of International Trade secretary Dr Liam Fox

In the first move to change interest rates since the crash in 2009, the Bank of England (BoE) has cut rates from 0.5% to 0.25%, making it a record low

Donald Trump, Republican presidential nominee, continues to refuse to publish his tax returns using the defence of currently being under audit by the Internal Revenue Service (IRS), despite politicians, voters and influential business leaders, putting pressure on him

MPs on the Business, Innovation and Skills Committee (BIS) have launched an inquiry into the government’s plans for an industrial strategy, and will be looking at how interventionist it should be in areas such foreign takeovers of British companies and devolved tax powers

The Treasury select committee has tabled an amendment to the finance bill, designed to ensure the independence of the chair and tax director of the Office of Tax Simplification (OTS), after its plans for independent scrutiny of the appointments were turned down

Owen Smith has pledged to transform the UK tax system if he wins the current contest to become Labour leader, announcing plans to reinstate the 50p personal tax rate and introduce a new wealth tax on the richest 1% of taxpayers, in a bid to tackle what he described as ‘ballooning’ inequality

The House of Commons is expected to consider the remaining stages of the Finance Bill on 5 and 6 September 2016, after it completed the committee stage in June 2016

Political decisiveness could assuage some of the fears post Brexit vote, but the impact of uncertainty on the UK economy is not yet apparent, says George Buckley, chief economist at Deutsche Bank

Treasury financial secretary David Gauke has been promoted to chief secretary to the Treasury in PM Theresa May's new cabinet as local government and communities minister Greg Clark has been handed the post of secretary of state for business, energy and industrial strategy replacing Sajid Javid in the newly expanded business department

The Leader of the House has confimred that the Finance Bill will be delayed until after the summer recess and that the remaining stages of the comittee procedure have been provisionally scheduled to take place on Monday 5 September