Chief sec to the Treasury: ‘I’m not going to apologise’ for mini-budget – but ‘no one’s perfect’ September 29, 2022 The chief secretary to the Treasury has said he’s “not going to apologise” for the mini-budget, as he hits back at the International Monetary Fund’s criticism this morning. Chris Philp said he “respectfully disagrees” with the IMF, which said the tax cuts would create more inequality in Britain, while speaking on Sky News this morning. [...]
‘Left in limbo’: Pubs and brewers disappointed as alcohol duty legislation pushed back July 21, 2022 Brewers and pubs have been “left in limbo” after the government has announced delays to the next phase of changes to the alcohol duty system. Draft legislation was set to be published this summer, to be consulted on before being introduced through the 2022/2023 finance bill. Ministers have been looking at how to introduce changes [...]
Treasury still keen on state-backed NFT despite crypto crash and government upheaval July 18, 2022 The UK Treasury is still devoted to creating a state-backed NFT with the Royal Mint despite the recent crypto crash and resignations of key ministers supporting this project. HM Treasury reiterated its dedication to the state-backed NFT. “We are still committed to introduce an NFT, working with the Royal Mint. This work is ongoing, and [...]
Thousands of civil service jobs at risk as Treasury drives down headcount April 10, 2022 As many as 40,000 pandemic-related civil service jobs could be cut as the Treasury tries to limit its soaring headcount.
Hospitality venues receive less than half of £635m Omicron support package April 4, 2022 Hospitality businesses in England received less than half of a £635m support package promised at the end of last year to make up for Omicron cancellations. Just £305m was paid out less than three weeks before the final cut off, analysis by the Altus Group revealed. The Treasury had announced one-off grants worth up to [...]
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 [...]
Gordon Brown joins 50 charities urging action on cost of living crisis, u-turn on ‘unthinkable’ below-inflation benefit rise March 17, 2022 Former Prime Minister Gordon Brown joined around 50 charities urging the government to urgently address the cost of living crisis, and change its mind on a below-inflation benefits rise. Pressure was growing on ministers this week not to go ahead with the rise of 3.1 per cent in the Spring statement, as inflation is set [...]
Households in colder parts of country could receive heating support boost January 11, 2022 Families in colder areas of the country may receive more government financial support for heating costs this winter. The Treasury is reportedly mulling giving more cash to areas that are forced to use heating more, as energy bills have skyrocketed in recent months. The idea is being considered ahead of a package of measures to [...]
Buy Now Pay Later firm Klarna claims ‘credit cards pose the real risk’ January 7, 2022 Klarna has claimed credit card providers pose a bigger risk to consumers as Government prepares to clampdown on the BNPL sector.
BNPL firms welcome regulation as clampdown looms January 7, 2022 Buy Now Pay Later (BNPL) firms have welcomed impending regulation of the sector as the Government prepares to clamp down following a consultation which closed yesterday. Klarna and Clearpay both claimed the time was right for regulation and confirmed they had submitted recommendations on new rules to the Treasury. Alex Marsh, Head of Klarna UK, [...]