Brexit: ‘Significant’ differences remain between UK and EU, says Brussels July 9, 2020 The latest round of UK-EU Brexit trade deal negotiations have ended with both parties still harbouring “significant” differences. An EU Commission spokesperson told a press conference in Brussels today that the latest round of talks had finished and that the EU was “working hard to overcome the significant divergences” that remain between the two sides. [...]
Think tank: Furlough bonus scheme a £9bn ‘deadweight loss’ July 9, 2020 Rishi Sunak’s £9.4bn scheme to compensate companies that bring back furloughed employees has been described as a “deadweight loss” by a leading London think tank. The chancellor’s Job Retention Bonus will see the government pay businesses £1,000 for every furloughed employee they bring back to work and keep employed until the end of January. The [...]
Rishi Sunak says he will deal with debt levels once picture clears July 9, 2020 Chancellor Rishi Sunak has said he will seek to reduce the huge budget deficit amassed during the coronavirus pandemic once the trajectory of the economy is “clearer”. Sunak, who yesterday pledged another £30bn worth of stimulus to fight the downturn, said it was difficult to strike the right balance between protecting the economy and the [...]
Top civil servant Sir Mark Sedwill hits out at ‘sniping’ from inside government July 8, 2020 Britain’s outgoing top civil servant Sir Mark Sedwill has hit out against the culture of off-record media attacks in Westminster that saw him recently sustain a barrage of public criticism. Sedwill had been the victim of numerous off-record briefings to the media about his role in the government’s handling of the coronavirus pandemic. It has [...]
Rishi Sunak Summer Statement: All the Chancellor’s spending pledges July 8, 2020 Chancellor Rishi Sunak today announced a raft of measures in his Summer Statement in a bid to help the UK economy recover from the worst effects of coronavirus. The Treasury boss revealed massive public spending to bolster the UK economy in what people are calling his mini-Budget. While he did not extend the government’s furlough [...]
Booze misses out on VAT cut, but pubs say glass is half-full July 8, 2020 Britain’s largest pub body has shaken off Rishi Sunak’s decision to not cut VAT on alcohol in his economic summer statement and instead largely praised the mini-Budget. The British Beer and Pub Association (BPPA) said the exemption would provide little help for “those pubs where revenue is more drinks led”, but that most of its [...]
New job retention bonus at heart of Rishi Sunak’s £30bn spending spree July 8, 2020 UK chancellor Rishi Sunak today put a new “job retention bonus” programme to encourage companies to bring back furloughed workers at the centre of a £30bn package aimed at kickstarting the economy. In his summer statement, Sunak said employers who take back furloughed workers until the end of January will receive a £1,000 payment for [...]
Rishi Sunak’s mini-Budget: Everything the chancellor announced July 8, 2020 Rishi Sunak has announced a wave of sweeping measures to kickstart the UK economy in his mini-Budget – here’s what they are. Announcing his Summer Statement in the Commons today, Sunak pledged to pause stamp duty, boost hiring, slash VAT, and introduce “eating out” vouchers for every person in the UK. “Despite the extraordinary support [...]
City reckons more ‘enormous’ stimulus to come from Rishi Sunak in autumn July 8, 2020 Chancellor Rishi Sunak today unveiled a package worth up to £30bn to boost the UK economy as the coronavirus lockdown is gradually eased, and promised it “will not be the last action”. At the centre of the stimulus is a “job retention bonus” worth up to £9bn that will pay companies to take back furloughed [...]
UK nominates former minister Liam Fox for top role at WTO July 8, 2020 The UK will nominate former trade secretary Liam Fox as its candidate to be the next director general of the World Trade Organization, it said today. “Dr Fox is a passionate advocate of multilateralism, who brings detailed knowledge of the global trading system from his years as a UK cabinet minister and secretary of state [...]