UK Government borrowing hits £138.4bn, less than half of amount last year March 22, 2022 Government borrowing stood at £13.1bn in February, down by £2.4bn from the same month a year earlier, according to official figures. The Office for National Statistics (ONS) said that despite the fall, this was the second highest February borrowing since monthly records began in 1993 and was still £12.8bn more than in February 2020, before [...]
UK markets: ‘Penny is dropping’ there will be no immediate ceasefire in Ukraine while focus shifts to Sunak’s ‘double whammy’ March 22, 2022 European markets underwent a subdued start to the week yesterday, with the FTSE100 outperforming on the back of another day of advances for crude oil prices, pushing the index to close at its highest level since 28 February. “The main reason for the move higher in oil prices was reports that the EU was considering [...]
FSB urge Chancellor to ease pressures on businesses ahead of Spring Statement March 22, 2022 FSB calls on Sunak to cut fuel duty, help micro-businesses with energy bills and increase employment allowance to £5,000.
Spring budget: Defence and foreign aid set to miss out on rise as war rages in Ukraine March 21, 2022 Britain’s defence and foreign aid budgets are set to miss out on an increase in the Spring budget, despite Russia’s war in Ukraine putting pressure on the UK’s responsibilities abroad. Chancellor Rishi Sunak sidestepped suggestions the conflict could lead to a rise in cash for defence, pointing to £24bn spent last year. This comes after [...]
Treasury to reveal £40bn tax boost as Sunak faces calls to further tackle cost of living March 20, 2022 The Chancellor is preparing for a £40bn boost to the Treasury from higher tax receipts as industry and campaign groups call for more solutions to tackle the cost of living. Rishi Sunak is expected to reveal better borrowing figures than previously forecast, alongside higher tax revenues and a slimmer debt-to-GDP ratio in 2021-22. The figures [...]
City access to the Chancellor: 80 per cent of Rishi Sunak’s meetings are with banks and financial services firms February 8, 2022 As the government is looking to ease rules and regulations for the City of London, it has been revealed that Chancellor Rishi Sunak met with dozens of financial firms, banks, consultancy firms, hedge funds and lobby groups in recent months. According to new analysis, published by the Independent, around 80 per cent of all businesses [...]
Downing Street rushes to stress relation between PM and Chancellor is ‘good’ while Boris Johnson turns to Lion King after staff exodus February 4, 2022 Downing Street insisted this afternoon that relations between Boris Johnson and Chancellor Rishi Sunak are “good”. The Prime Minister’s official spokesman said: “I don’t know when they last spoke, they speak almost daily, but I don’t know the exact last time.” Asked how relations are between No 10 and No 11, he said: “Good – [...]
Chancellor Rishi Sunak no longer rules out Tory leadership bid if Boris Johnson is forced out February 3, 2022 Chancellor Rishi Sunak refused to rule out a leadership bid if Boris Johnson is forced out as he acknowledged the Government needed to rebuild trust after the “partygate” disclosures. Despite deepening disquiet in the Tory ranks, Sunak insisted the prospect of a leadership contest remained a “hypothetical situation” and that the Prime Minister had his [...]
Rishi Sunak urged to allow National Crime Agency to probe ‘astronomical levels’ of Covid loan fraud February 1, 2022 Chancellor Rishi Sunak should allow the National Crime Agency (NCA) to investigate “astronomical levels of fraud” that was allegedly committed during the coronavirus pandemic, according to the Labour party. The party will use an opposition day debate in the Commons later today to attempt to get Government backing for an investigation after it was revealed [...]
One in three nightclubs fear imminent closure without government aid as sector faces Omicron ‘death sentence’ December 20, 2021 One third of nightlife businesses are afraid they will close within a month, without urgent government support, as ministers mull further measures this week. One fifth of firms fear they could lose their entire workforce without more financial aid, according to a survey of more than 500 venues by the Night Time Industries Association (NTIA). [...]