As it happened: Rishi Sunak’s Spring Budget 2022 March 23, 2022 Live updates and links to all our coverage, reactions and analyses as the Chancellor of the Exchequer, Rishi Sunak, delivers the government’s Spring Budget for 2022 . Please do get in touch and let us know your opinion via news@cityam.com or @Cityam With the cost of living crisis, rising inflation, war in Ukraine and [...]
Rishi Sunak’s Spring statement today: From fuel duty cuts to tax and energy bills March 23, 2022 The time has come for the Chancellor to unveil his spring statement, with the spotlight on how he intends to deal with the cost of living crisis. Rishi Sunak is set to vow to “stand by” British families as he is expected to outline further plans to support households facing financial hardship on Wednesday, which [...]
Rishi Sunak needs to tell a story if he wants to keep a hold on the economy March 23, 2022 In an interview with the Sunday Times earlier this month, Gordon Brown gave a quote that was both reflective of his past failings and the challenge that lies ahead for Rishi Sunak. “I’m afraid we didn’t win the argument. You learn as you get older, or at least more experienced, that the facts are not [...]
UK inflation tops 6 per cent as households call on Rishi Sunak for cost of living respite March 23, 2022 The Consumer Prices Index (CPI) measure of inflation marked the largest monthly increase since 2009 last month. According to the Office for National Statistics (ONS), CPI rose 0.8 per cent in February 2022 on a monthly basis. This was compared to a rise of just 0.1 per cent in February 2021. CPI rose 6.2 per [...]
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 [...]