Budget 2021: Sunak puts low tax conservatism to the sword October 28, 2021 Chancellor Rishi Sunak will heap extra financial pain on households across the UK as he puts low tax conservatism to the sword. Sunak’s wave of spending will lay the groundwork for a permanently more punitive tax regime that will intensify the cost living crisis, leaving Brits “worse off in the short term”, the Institute for [...]
Budget: Sunak defends decision not to cut VAT on household energy bills October 28, 2021 Chancellor Rishi Sunak this morning defended the government’s decision not to cut VAT on home energy bills to counter rising energy prices. Asked on BBC Breakfast why he did not make such a move, the Chancellor said: “Because as many independent experts and think tanks have pointed out, it is not a particularly well-targeted measure [...]
Budget: Rishi Sunak refuses to commit to tax cuts before next general election October 28, 2021 Chancellor Rishi Sunak this morning refused to commit to cutting taxes before the next general election. Asked on Sky News whether he would slash taxes before the next Westminster polling day, which is expected to be held by 2024, Mr Sunak said: “We started cutting taxes yesterday, our priority being those on the lowest incomes. [...]
France detains British boat amid ongoing Brexit fishing conflict October 28, 2021 A British trawler has been detained by authorities in France as an ongoing dispute over fishing rights increasingly escalates. It has emerged that two boats were fined late last night after one failed to comply with checks by police and the other was found not to hold a proper licence, according to the French maritime [...]
Budget: Brits face flat recovery for household living standards, Sunak warned October 28, 2021 The average household could see their tax rise by thousands of pounds during Boris Johnson’s premiership, a think tank has warned, as Rishi Sunak’s Budget has the country set for a flat recovery for living standards. The Office for Budget Responsibility (OBR) said the Budget would leave the overall tax burden at its highest since [...]
France to ban UK seafood in retaliation for withholding fishing licences October 27, 2021 France will next week ban British seafood exports and disrupt trade of other goods if the UK does not grant a swathe of fishing licences. French President Emmanuel Macron escalated the feud between himself and Downing Street today, with Elysee spokesperson Gabriel Attal saying “we won’t let the British wipe their feet on the Brexit [...]
The Budget: Sunak returns pupil funding to “2010 levels” October 27, 2021 Chancellor Rishi Sunak announced that per pupil funding would return to “2010 levels” in real terms by 2024-25, making an extra £4.7bn available. Sunak makes £2.6bn available for new school places for children with special educational needs and disabilities in England, more than tripling current capital funding levels to over £900m by 2024-25. On the pandemic, Mr [...]
Rishi Sunak’s Autumn Budget: A quick overview of what has been announced October 27, 2021 Downing in numbers and announcements? No worries, here are the main points from Chancellor Rishi Sunak’s Budget. – The Budget is focused on the “post-Covid” era, according to the Chancellor, and will pave the way for the “Prime Minister’s economy of higher wages, higher skills, and rising productivity”. – Independent forecaster the Office for Budget [...]
Budget 2021: Government debt interest bill to swell £16bn more than previously expected October 27, 2021 The government’s debt interest bill is set to swell by billions over the next year driven by inflation accelerating at a fiery print than the fiscal watchdog expected. The Office for Budget Responsibility (OBR) revised up its forecasts for the government’s debt interest payments by around £16bn for this year. More to follow.
Budget: Labour says UK in store for ‘anaemic’ GDP growth under Tories October 27, 2021 Labour has claimed the UK is in store for “anaemic” GDP growth in the coming years in response to Rishi Sunak’s Budget today. Shadow chancellor Rachel Reeves, filling in for Sir Keir Starmer who has Covid-19, said “the Conservatives are the party of high tax”. Forecasts from the Office for Budget Responsibility (OBR) accompanying the [...]