Earlier this week, the Pound fell to a record low against the US Dollar as markets reacted to some of the UK’s largest tax cuts in 50 years.

While the news has troubled the UK, there are also concerns about what the changes could mean for Falkland island businesses.

The Standard Chartered Bank has increased their base rate from 1.75% to 2.25%. This follows the announcement from the Bank of England that the bank base rate would increase by 0.5%.