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	<title>Churchill Knight Blog</title>
	<link>http://ir35accountancy.co.uk/blog</link>
	<description>Just another WordPress weblog</description>
	<lastBuildDate>Wed, 08 Sep 2010 08:13:02 +0000</lastBuildDate>
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		<title>G20 – Toronto 2010</title>
		<description><![CDATA[In what appears to have been a more or less positive meeting, world leaders have agreed to halve their deficits within the next three years. However, as the International Monetary Fund points out, it is not quite as simple as that; the stronger economies must support the weaker ones. After all, the entire world cannot [...]]]></description>
		<link>http://ir35accountancy.co.uk/blog/churchill-knight-news/g20-%e2%80%93-toronto-2010.html</link>
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		<title>Inflation and interest rates</title>
		<description><![CDATA[With May consumer price inflation running at about 3.4% (down from 3.7% in April) there are no real indications about how it will go in future. The VAT increase in January will certainly have an impact, but this may not be significant. The big news in June was, however, that one of the Monetary Policy [...]]]></description>
		<link>http://ir35accountancy.co.uk/blog/churchill-knight-news/inflation-and-interest-rates-3.html</link>
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		<title>Markets</title>
		<description><![CDATA[June was another disappointing month for world stockmarkets with the FTSE100 shedding another -5.23%, making is just over 9% lower than at the start of the year, but 15% higher than twelve months ago. There were a number of reasons for this, not least of which has been the impact of BP on the index [...]]]></description>
		<link>http://ir35accountancy.co.uk/blog/churchill-knight-news/markets-4.html</link>
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		<title>Welfare; victim of the cuts</title>
		<description><![CDATA[Welfare spending appears to be one of the largest of the targets that George Osborne has hit – alongside many other forms of government spending. But the fact is that we have to cut our spending if we are to survive and everyone has to share the pain. Unfortunately, there are too many people who [...]]]></description>
		<link>http://ir35accountancy.co.uk/blog/churchill-knight-news/welfare-victim-of-the-cuts.html</link>
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		<title>The Emergency Budget and its aftermath</title>
		<description><![CDATA[June was dominated by the run up to the Emergency Budget and its aftermath. Overall, this was well received despite hikes in tax on capital gains and VAT. The former will largely affect higher earners, whereas the latter will affect us all and is probably a regressive tax in that it hits the less well [...]]]></description>
		<link>http://ir35accountancy.co.uk/blog/churchill-knight-news/the-emergency-budget-and-its-aftermath.html</link>
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		<title>Office for Budget Responsibility</title>
		<description><![CDATA[The creation of an Office for Budget Responsibility (OBR) may sound as if it will only interest economists, because it is largely to do with data reporting. But in fact, it will be as important to us all as is the Bank of England’s Monetary Policy Committee (MPC).
The OBR will be involved in making an [...]]]></description>
		<link>http://ir35accountancy.co.uk/blog/churchill-knight-news/office-for-budget-responsibility.html</link>
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		<title>Business prospects</title>
		<description><![CDATA[News that the balance of trade slipped further into the red during March (the latest figures available) was something of a shock for economists who had expected recent improvements to accelerate. The deficit on goods fell from £6.3bn in February to £4.5bn; the problem was rapid growth in imports with a fall in exports. Even [...]]]></description>
		<link>http://ir35accountancy.co.uk/blog/churchill-knight-news/business-prospects.html</link>
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		<title>Inflation and interest rates</title>
		<description><![CDATA[Inflation continues to worry, particularly in view of low growth rates. Some time ago the Institute of Directors’ Chief Economist, Graeme Leach, warned of the possibility of what he called “stickyflation” – rising prices against a backdrop of zero economic growth. The Consumer Prices Index has hit an annual rate of increase of 3.7% and [...]]]></description>
		<link>http://ir35accountancy.co.uk/blog/churchill-knight-news/inflation-and-interest-rates-2.html</link>
			</item>
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		<title>Markets</title>
		<description><![CDATA[May was something of a rollercoaster for most markets, with the FTSE100 ending the month -6.57% down. In fact it is now just over 4% lower than at the start of the year, but still 17% up over12 months. The main cause for this – and the poor performance of other markets – has been [...]]]></description>
		<link>http://ir35accountancy.co.uk/blog/churchill-knight-news/markets-3.html</link>
			</item>
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		<title>The economy</title>
		<description><![CDATA[The good news is that (as we predicted last month) growth for the first quarter of 2010 has been revised upwards to 0.3% from 0.2%. The fact that this is slower than the revised figure for the end of 2009 is, according to the Bank of England’s Inflation Report for May, probably due to temporary [...]]]></description>
		<link>http://ir35accountancy.co.uk/blog/churchill-knight-news/the-economy.html</link>
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