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). [...]
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 [...]