Budget 2017: North Sea oil and gas tax relief will be reviewed by a panel of experts March 8, 2017 As the UK faces declining oil and gas production in the North Sea, the chancellor has unveiled new measures to review tax relief and maximise the exploitation of remaining reserves. In his Budget, chancellor Philip Hammond said a new advisory panel of industry experts will be established and a formal discussion paper will be published on how tax can [...]
Budget 2017: Government provides updates on sales of Green Investment Bank, Lloyds and RBS March 8, 2017 The government remained largely quiet on its various privatisation processes in the Budget today. The Treasury announced no new sell-offs, and confirmed the sale of the Green Investment Bank and £12bn of student loans are ongoing. The Green Investment Bank sale process has come under intense scrutiny in recent months, with several MPs raising concerns about [...]
Chancellor Philip Hammond cracks jokes at the expense of the Labour party, Jeremy Corbyn and himself during Budget 2017 March 8, 2017 Breaking: Philip Hammond aka 'Spreadsheet Phil' has a personality. The chancellor, who has been dubbed as boring accounting type, set the scene for the Budget today making a spring budget joke. 1. On Norman Lamont also abolishing the spring Budget "Ten weeks later, he was sacked! So wish me luck!" And that wasn't the only joke [...]
Budget 2017: The full text of chancellor Philip Hammond’s speech March 8, 2017 Philip Hammond has delivered his first – and last – Spring Budget. Headline announcements included more cash for social care and punishing new rules for the self-employed – plus some vague comments on business rates. Read more: City A.M.'s TL;DR version of the Spring 2017 Budget Here's what he said: Mr Deputy Speaker, I report [...]
Budget 2017: Alcohol duties set to rise as the chancellor makes no changes to planned increases March 8, 2017 Alcohol duties are set to rise as Philip Hammond today said he will make no changes to "previously planned upratings". The duty rates on beer, cider, wine and spirits will increase with inflationary rises, or 3.9 per cent. The British Beer and Pub Association (BBPA) said the rise will cost pubs around £125m. Brigid Simmonds, chief executive [...]
Spring Budget 2017 at-a-glance guide: All of chancellor Philip Hammond’s big announcements you need to know March 8, 2017 Chancellor Philip Hammond has delivered his first (and last, thanks to a shift around in dates) spring Budget speech. But, as not everybody has the time to go back and listen to his words of wisdom in full, here's an at-a-glance breakdown of the biggest announcements you need to know: Economics, public spending and politics [...]
Budget 2017 UK: “T-Levels” shake-up for young people’s technical training promised by Philip Hammond March 8, 2017 The government is promising to invest fresh cash in preparing young people for the new global economy with investment in technical training. Chancellor Philip Hammond confirmed the new £500m plans he called "game-changing" in his Spring Budget on Wednesday. The radical overhaul of post-16 education will see a dizzying array of 13,000 different qualifications whittled down [...]
Budget 2017: Local authorities encouraged to tackle city congestion in £690m competition March 8, 2017 In the battle to tackle urban congestion, Philip Hammond will create a £690m competition for local authorities to address the issue and get local transport networks up and moving. He also repeated the £220m announced in the Autumn Statement that will be invested to tackle pinch points on national road networks – this includes £90m to the [...]