‘End of austerity’ fails to lift sterling out of Brexit slump as Hammond sets aside £2bn for hard Brexit October 29, 2018 Philip Hammond’s Budget announcements failed to lift sterling, which continued to slide this afternoon as the chancellor announced the government’s spending plans to the House of Commons. With the Office for Budget Responsibility (OBR) lifting its growth forecast from 1.3 per cent to 1.6 per cent for 2019, and predicting a lower deficit of just [...]
Police intercept another suspicious package sent to CNN as suspect set to appear in court October 29, 2018 A third suspicious package sent to CNN in a week was intercepted in Atlanta today. The package was identical to the others allegedly sent by pipe bomb suspect Cesar Sayoc, the news agency reported. "There is no imminent danger to the CNN Center,” CNN president Jeff Zucker told staff in a memo, according to CNN. [...]
No-deal Brexit funding ramped up to £2bn in Budget 2018 October 29, 2018 Funding to prepare the UK government for a no-deal scenario as it exits the European Union next year has been given an additional £500m, taking the total allocated to aid departments with the planning to over £4m. Chancellor Philip Hammond had already allocated £2.2bn to departments for Brexit preparations in last year's Autumn Statement, with a [...]
Online betting company duty to increase by six per cent October 29, 2018 The levy applied to online betting companies will increase to 21 per cent as fixed odd betting machine stakes are reduced to £2. The remote gaming duty applied to "online games of chance" will be upped by six per cent from October next year, Chancellor Philip Hammond confirmed in the Autumn Budget today. "From remote [...]
Property in the Budget: First-time buyers to benefit from shared ownership stamp duty relief as Help to Buy extended October 29, 2018 The Chancellor unveiled a raft of new property measures today, including a further £500m for the housing infrastructure fund and stamp duty relief for first-time buyers that is extended to shared ownership homes worth up to £500,000. The government will also extend a revised version of its Help to Buy scheme until 2023, but for first-time [...]
Innovation game: £1.6bn promised for the UK’s modern industrial strategy as entrepreneurs get a boost October 29, 2018 The chancellor today promised £1.6bn of new investment into the government's modern industrial strategy, in a bid to ramp up the UK's digital infrastructure and power the country's startups. It will also be followed by an additional £150m in funding for fellowships to foster the UK's burgeoning skills pool with both homegrown and international talent, and £115m for [...]
New plastics tax to help clean up Britain’s wildlife October 29, 2018 Non-recycled plastic packaging will be taxed under new plans announced by the chancellor to reduce ocean waste. Philip Hammond said he was committing the UK to tackle deadly plastics. “We must become a world leader in tackling the scourge of the plastic littering our planet and our oceans,” the chancellor said. Plastic packaging is “convenient for consumers [...]
Personal allowance increase to arrive one year early as higher rate tax threshold change to occur in 2019 October 29, 2018 The personal allowance is to be raised to £12,500 and the higher rate tax threshold is to be lifted to £50,000 in April 2019, the chancellor Philip Hammond announced today. The Conservative Party promised to lift the personal allowance and higher rate tax threshold in 2020 but the changes are now being introduced a year [...]
Pot luck: Councils get £420m to tackle potholes this year October 29, 2018 Chancellor Philip Hammond has promised a further £420m investment this financial year to help local authorities tackle potholes and and keep bridges safe. Hammond also said he would make £150m available for small improvement projects, such as roundabouts. “Every member of parliament will testify that potholes are high on the public’s list of concerns. So as autumn [...]
HMRC to be made preferred creditor in tax avoidance crackdown October 29, 2018 A range of measures designed to crackdown on tax avoidance and evasion with a view to raise £2bn over the next five years have been announced by the government. HMRC will be made a preferred creditor in insolvencies, Chancellor Philip Hammond announced today. The government will end the practice of purchasing services through offshore countries and introduce a [...]