Transport, research and skills: £20bn of investments announced ahead of Budget October 24, 2021 When Rishi Sunak delivers his second Budget in a year this Wednesday, there may not be many surprises left after investments totalling more than £20bn were announced over the weekend. The Chancellor will head to the Commons with a focus on levelling up transport links outside London, research and development in health, and a “skills [...]
Shapps echoes Sunak saying Christmas gifts will be available October 16, 2021 Transport secretary Grant Shapps has echoed Chancellor Rishi Sunak and said that Christmas gifts will be available despite the backlogs witnessed at UK ports. “People will be able to get things for Christmas,” he told Sky News. “When I talk to the ports they said it is a busy picture, but if you compared us [...]
Sunak to use September figures for autumn Budget October 16, 2021 Chancellor Rishi Sunak has asked the UK Office for Budget Responsibility to close its pre-policy measure forecast at the end of September. “Our pre-policy measures forecast was closed earlier than usual in response to a request from the Chancellor for more time to complete the Spending Review as well as the Budget (as was the [...]
Sunak tells Brits not to worry: There will be a ‘good amount’ of Christmas presents October 14, 2021 Chancellor Rishi Sunak has told Brits not to worry about their Christmas presents this year, saying there will be a “good amount of presents available” even though supply chain issues continue to persist. Sunak was speaking after meeting with finance ministers from the G7 group of leading world economies to talk about the problem, with [...]
Sunak causes rift with Cabinet over EV discount end October 13, 2021 Chancellor Rishi Sunak is reportedly in a row with other Cabinet members – including transport secretary Grant Shapps and business secretary Kwasi Kwarteng – over his proposed plans to cut grants for buying electric vehicles (EV). As reported by the Telegraph, the Treasury is expected to slash the grants – which amount to £2,500 for [...]
Right tax cuts will boost UK economy and unlock SME investment, says City investor October 12, 2021 Prime Minister Boris Johnson recently refused to rule out further tax rises, calling the pandemic a “fiscal meteorite”. Speaking at the Tory Party conference in Manchester, the Prime Minister praised the UK’s economic recovery which is so far ahead of other G7 nations. Meanwhile, Jacob Rees-Mogg highlighted that the country was already at the “upper [...]
Sunak eyes overhaul of capital raising rules to boost London market post-Brexit October 12, 2021 Rishi Sunak has set out his ambition to make capital raising easier for public companies listed in London as a part of the government’s regulations overhaul post-Brexit. The chancellor today launched the UK Secondary Capital Raising Review, which will look at ways of giving listed companies greater access to capital through secondary transactions in a bid [...]
Rishi Sunak blasted for using £19bn of IMF funds as UK aid money abroad October 12, 2021 The Treasury is said to consider using a windfall from the International Monetary Fund (IMF) as aid money, by ‘recycling’ billions of pounds, according to reports. Sunak is preparing to use a large portion of the funds to contribute to the UK’s current aid spending rather than using it in addition to what is planned, [...]
High street bosses plead Chancellor to slash business rates October 10, 2021 Around 20 retail leaders have called for a cut to business rates to ensure the high street’s pandemic recovery. Some 21 bosses – including leaders of Iceland and MossBros – have written to Chancellor Rishi Sunak and said urgent intervention is needed to protect businesses. “There are many views on precisely how the business rates [...]
Rishi Sunak does not rule out council tax rise as he will ‘cut up Boris Johnson’s credit card’ October 4, 2021 Chancellor Rishi Sunak does not rule out further tax rises, including a hike in council tax to pay for social care. Asked about a warning from the Local Government Association that council tax may have to rise to plug a black hole in social care, Sunak said it would be wrong to “pre-empt” the local [...]