Budget: Why Jeremy Hunt needs you back at work to prevent a recession March 15, 2023 This was a budget for the workforce. It showed signs of sparking the supply side revolution that Liz Truss championed, but crashed hard in trying to get there too quickly. The Office for Budget Responsibility (OBR) thinks so. It projects the government’s collective policies designed to boost the labour market will provide a 0.2 per [...]
Explainer: Why Hunt extended energy support in the Budget March 15, 2023 One of the first announcements in today’s Budget was an extension on the energy price cap, keeping it at its current rate of £2,500 per household until the end of June. The cap was meant to expire next month, but Jeremy Hunt capitulated to the campaigners’ pleas and u-turned. He also probably realised he had [...]
PwC strikes deal with San Francisco startup to let lawyers and tax experts use AI chatbot March 15, 2023 PwC has struck a deal to start using an artificial intelligence (AI) chatbot to speed up work in its tax and legal divisions as the world’s top professional services firms increasingly look towards tech to boost efficiency. The accounting firm’s initial 12-month contract with San Francisco startup Harvey will see all 4,000 staff in PwC’s [...]
Budget ‘returnerships’: Will Jeremy Hunt’s plans to get over 50s back to work, work? March 15, 2023 Scrapping the lifetime allowance on pensions was just one of several measures announced in the Spring Budget aimed at getting the over 50s back to work, Many argue the move will only affect one per cent of the population, and was aimed at stopping an exodus of NHS doctors – who have often built up [...]
Budget: Can Jeremy Hunt’s R&D tax plans stop Britain becoming an ‘innovation wasteland’? March 15, 2023 Chancellor Jeremy Hunt has attempted to soften the blow of changes to the research and development (R&D) tax scheme today after backlash from small businesses and warnings the UK could become an “innovation wasteland”.
Dr Doom: Famed analyst says Credit Suisse crisis is a ‘Lehman moment’ for global markets March 15, 2023 Economist Nouriel Roubini, nicknamed Dr Doom after he predicted the 2008 sub-prime crisis, said the Credit Suisse crisis is potentially a “Lehman moment” for European and global markets. In an interview with Bloomberg TV, Roubini said Credit Suisse is “too big to fail and too big to be saved”. Whereas the collapse of Silicon Valley [...]
Budget: Five changes to energy policy – and one that got away March 15, 2023 City A.M. looks at the five biggest developments in the energy sector announced in Hunt's budget - and the one that got away.
Budget: ‘Brexit pub guarantee’ means ale is 11p cheaper than supermarket booze but wine guzzlers will pay more March 15, 2023 Beer and other draught products in pubs will be 11p cheaper than in supermarkets, Jeremy Hunt has announced, calling the tax relief a “Brexit pub guarantee” which will come into effect from April 1. In the Spring Budget this afternoon, the Chancellor said that the measure would not have been possible if the UK remained [...]
Budget 2023: Jeremy Hunt’s ‘growth’ plan may embrace childcare and over 50s but hike in corporation tax stays March 15, 2023 Chancellor Jeremy Hunt delivered what he claimed was a growth-focused budget centred on childcare reform, pensions and business investment, but the six per cent hike in corporation tax will remain. He unveiled what amounted to a universal childcare policy; abolished the lifetime allowance on tax-free pensions savings; and announced tax breaks for firms investing in [...]
Budget: Chancellor abolishes lifetime pension allowance saying ‘no one should be pushed out of the workforce for tax reasons’ March 15, 2023 Chancellor Jeremy Hunt has abolished the pension lifetime allowance and increased the annual tax free pension allowance by 50 per cent to £60,000 a year. The measure was one of several unveiled in the Budget and aimed at encouraging an estimated 3.5m people of pre retirement age back into the workforce. Hunt said: “Turning 50 [...]
