Autumn Statement: Jeremy Hunt’s bitter medicine may be too harsh November 16, 2022 The City is not worried about a low-tax mujahideen - but economists are concerned this grim budget could choke off much-needed growth
Hunt to stare down Tory backlash as he hikes taxes across the board November 16, 2022 Jeremy Hunt will have to stare down a potential Tory backbench rebellion as he delivers his tax-hiking fiscal statement tomorrow. The chancellor has warned that the mixture of spending cuts and tax rises is necessary to restore economic credibility, however they may well dent his own credibility in the Tory party. There are already rumblings [...]
Appease the markets and his own party? Jeremy Hunt has a frightful task November 16, 2022 Tomorrow, Jeremy Hunt needs to deliver a plan that both wins the confidence of the city – and the financial markets – and is politically palatable. This comes off the back of a narrative which has converged around terms like “black holes” and “difficult decisions”. The emerging theme is that there is a gap in [...]
Hunt readies for biggest budget since Cameron and Osborne’s first outing November 15, 2022 Thursday’s budget (okay, Autumn Statement) is the biggest since David Cameron and George Osborne’s first statement in 2010, just after they seized the keys to number 10 (with a little help from the Liberal Democrats) from Gordon Brown’s Labour. Chancellor Jeremy Hunt faces a daunting task. Weaker than expected economic growth, high inflation and a [...]
Hunt warns of tax hikes for everyone in fiscal statement November 13, 2022 Jeremy Hunt has warned that tax will rise for everyone in his autumn statement next week, while promising the most vulnerable will be protected. The chancellor said the government “will be asking everyone for sacrifices” but that there is “only so much we can ask” from low income workers. Hunt is expected to raise between [...]
Labour calls for business rates relief in Hunt’s autumn statement November 10, 2022 Labour has called for Jeremy Hunt to provide tax relief for small businesses in his autumn fiscal statement as firms stare down rates hikes in April. Labour deputy leader Angela Rayner told City A.M. today that the chancellor “must” next week axe the planned inflation-linked increase to business rates, while calling for a complete tax [...]
Budget: Millions of Brits to face ‘real pain’ as rising cost of living and taxes will bite October 28, 2021 Rising costs and tax increases will leave tens of millions of Brits worse off, economists said today. Their warning comes as experts are ploughing through yesterday’s Budget. Rishi Sunak had claimed his Budget is a strategy to “usher in a new age of optimism”, but a leading economic think tank warned the public “may not [...]
Second home buyers dodge bullet of stamp duty rise for now October 28, 2021 Chancellor Rishi Sunak may have taken a last minute decision not to increase the stamp duty surcharge paid by landlords and second home buyers. The government had planned to hike the three percentage point surcharge on additional property purchases to four percentage points, first reported by the Daily Telegraph. In the economic and fiscal outlook, [...]
Budget ‘missed opportunity’ to use tax to get UK to net zero target, says City law firm October 28, 2021 The Budget has missed the opportunity to incentivise taxpayers to help achieve net zero, according to one of the main City law firms. Whilst the Chancellor has announced tax changes to encourage businesses to invest in green technology, the Chancellor also rolled out a cut in fuel duty and air passenger duty, potentially denting the [...]
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 [...]