Ryanair mocks absent Chancellor with ‘come back to help out’ tweet December 16, 2021 The Chancellor of the Exchequer faced criticism from Ryanair this afternoon, as the budget airline urged him to return to the UK and help out ailing businesses. Hospitality and tourism firms have been calling on Sunak to bring back pandemic support measures, as they face waves of cancellations amid a surge of Omicron cases before [...]
Rishi Sunak thrown into parties scandal after Treasury held lockdown gathering December 11, 2021 The Chancellor has come under scrutiny after details have emerged of his an office drinks party held by his department during lockdown last year. Around two dozen civil servants attended the Treasury party, held in celebration of Rishi Sunak’s spending review, according to The Times, which first reported the news. The event took place on [...]
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 [...]
Rishi Sunak: I won’t apologise for cutting alcohol duty on champagne in prosecco in Budget October 28, 2021 Rishi Sunak said this morning he will not apologise for cutting alcohol duty on Champagne, prosecco and other sparkling wine in the Budget. Speaking to Sky News, Rishi Sunak said: “I’m not going to make any apologies for that. We have an irrational system at the moment of how we tax alcohol. “The new system [...]
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. [...]
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 [...]
Long-haulers slam APD hike as it “will penalise Global Britain” October 27, 2021 Long-haul carriers have criticised the Chancellor’s decision to increase air passenger duty (APD) rates for flights longer than 5,500 miles. Luis Gallego, chief executive at British Airways’ parent company IAG, said the move “will penalise Global Britain” at a time when the country should be more competitive on the global stage. “We need to get [...]
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 [...]
Champagne in Canary Wharf: Sunak helps banks to save £4bn following Budget cut in surcharge tax October 27, 2021 The cut to the banking surcharge, announced in today’s Budget, will help UK banks to save £4bn in the next five years. A surcharge of 8 per cent was cut to 3 per cent by Chancellor Rishi Sunak to “maintain the competitiveness of our financial services”, he said. As a result, the amount paid by [...]