Human ingenuity and working together will pull us through the coronavirus crisis March 9, 2020 Last week, Bank of England governor Mark Carney gave his economic view of the possible consequences of coronavirus: he expects it to cause “disruption” and not “destruction”. In saying this, he follows the measured words of the health secretary, Matt Hancock, who made the point that preparing for the worst is the job at hand. [...]
Coronavirus: Milan among cities quarantined in mass Italian lockdown March 9, 2020 Italy took the extraordinary step yesterday of quarantining 16m people in one of the country’s most prosperous regions as it ramped up its battle to halt the spread of Coronavirus. All 10m people from the region of Lombardy, including Italy’s financial capital Milan, have been placed into lockdown until 3 April, along with cities including Venice, Padua, Modena, Piacenza, Reggio Emilia and [...]
Number 10 mulls over tax on over-40s to cover social care costs March 8, 2020 Plans are being considered by the government to implement a new tax on over-40s to help fund their own old age care. The new plan, reportedly being pushed by health secretary Matt Hancock, would see workers over the age of 40 pay 2.5 per cent of their income to pay for their future old age [...]
Treasury to move a fifth of staff to northern ‘economic campus’, says Rishi Sunak March 8, 2020 The Treasury will move one-fifth of its entire staff to the North of England as a part of the government’s plans to “level up” parts of the country. Chancellor Rishi Sunak made the announcement this morning, after ongoing speculation there would a decentralisation of power away from Whitehall and to the regions. Sunak also announced [...]
Coronavirus: Government prepared to give NHS ‘whatever it needs’ March 8, 2020 Chancellor Rishi Sunak has said the Treasury is prepared to give the NHS “whatever it needs” to combat the spread of coronavirus. Speaking just days before his first budget, Sunak gave his assurances that the government were prepared to spend as much money as necessary to stop the virus spreading further. It comes after concerns [...]
Budget 2020: Chancellor Rishi Sunak to scrap ‘tampon tax’ March 6, 2020 The so-called tampon tax is set to be abolished in next week’s Budget. A zero rate of VAT will apply to women’s sanitary products from the start of next year. The UK has been obliged to pay the EU VAT Directive since 1973 and the tampon tax is currently five per cent. MPs voted against [...]
Environmental taxes: Will the Chancellor break with history, raise fuel duty and go further? March 6, 2020 | City Talk Looking to the manifesto, it would be hard to predict what the Budget would contain on environmental taxes. In common with the other main political parties, there were few direct commitments among the rhetoric. Beyond a statement on plastics packaging tax, we saw only a promise to “prioritise the environment in the next Budget, investing [...]
Government has spent £4.4bn on Brexit preparations March 6, 2020 The UK government has spent at least £4.4bn of taxpayers’ money on preparations to leave the EU, the public spending watchdog said today. The National Audit Office (NAO) said most of the money was spent on staff costs, building new infrastructure and paying for external advice. The government overall only spent about 70 per cent [...]
Budget should include ‘hardship fund’ for firms hit by coronavirus, says British Chambers of Commerce chief March 6, 2020 The chief of the British Chambers of Commerce (BCC) has called on the government to include a “hardship fund” for firms affected by the coronavirus in this month’s Budget. Director-general of the BCC, Dr Adam Marshall, has written to chancellor Rishi Sunak asking him to roll out measures supporting small and medium-sized firms, according to [...]
Government working with supermarkets to ensure self-isolating coronavirus patients can be supplied with food March 6, 2020 The government is working with supermarkets to make sure people self-isolating due to coronavirus can still be supplied with food, the health minister said yesterday. Responding to an audience member concerned about possible food shortages in a coronavirus epidemic on BBC’s Question Time Matt Hancock said there was absolutely no need” for people to buy [...]