RETAIL SALES FALL AS MORE PEOPLE DINE OUT

Retail sales in the UK fell again in August as people spent more time eating and drinking in bars and restaurants (BBC). Sales fell by 0.9 per cent in August, the Office for National Statistics (ONS) said, following a 2.8 per cent fall in July. Overall, sales were 4.6 per cent higher compared to pre-pandemic levels (Sky News).

CHANCELLOR TO SET OUT NEW FISCAL RULES TO REIN IN UK BORROWING

Chancellor Rishi Sunak is reportedly planning to use next month's Budget to set out new rules to rein in government borrowing (Financial Times). The changes will end borrowing to fund day-to-day spending within three years and follow concerns at the Treasury that any rise in interest rates could increase the cost of public spending.

NEWS IN BRIEF

Ministers aim to secure a multibillion-pound investment from Saudi Arabia to fund renewable energy and infrastructure projects in the UK after yesterday's announcement of a £10 billion deal with the United Arab Emirates (Times).

Changes to the rules on international travel are expected to be announced by the government later today as ministers are expected to announce removing the requirement for double-jabbed people returning to the UK to take PCR tests (BBC).

More UK consumers prefer online shopping since pandemic with about 70 per cent of people saying buying online and on mobile phones have become their preferred shopping methods (Reuters).

Debt charity StepChange is calling for emergency support from the government as measures like the furlough scheme and the uplift to Universal Credit payments are phased out (BBC). 

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Chris Lewis, Head of Solutions at Synectic Solutions, asks why it is so hard to get public/private partnerships right on fighting fraud and financial crime.