Data from the ONS shows that human capital – i.e. the knowledge, skills, competencies and attributes of UK residents – represents one-third of the total wealth of the UK economy in 2015. Wealth is defined as financial assets, real assets (eg houses, building and machinery) and human capital combined. The UK economy had a total net worth of £29.6 trillion (assets less financial liabilities) with...
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The turnover of accountancy and allied services companies in the UK declined by 7% in June 2016, compared with June 2015. In the first six months of 2016, turnover was 1% lower than over the same period of 2015.
In the 1960s the young never had it so good, so they say, but in the 1990s and 2000s (especially the latter) it seems it’s the old who now enjoy the relative good life. Latest nowcasting data from the ONS, which provides initial estimates of household income indicators, show that the median household disposable income was £26,400 in 2015/16, which in constant price terms, is...
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IRN has just launched a report outlining the use and potential of Robo-Finance Agents in the financial services market. Artificial intelligence (AI) agents (or Robo-Finance Agents) have now reached a level of maturity and cost which is allowing them to be used widely in the financial services market. While currently most attention is focused on their use in Retail Robo-advice services, in the coming decade...
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It is now almost five years since the introduction of the Legal Services Act 2007 (LSA) in October 2011 but the expected dramatic decline in law firm numbers post-LSA has not really materialised. Some forecasts were suggesting that thousands of law firms could disappear but the reality has been much less dramatic. In May 2016 there were 10,429 law firms in England and Wales and...
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