Sunak cuts the Universal Credit taper rate to ease cost of living pressures October 27, 2021 Rishi Sunak has today cut the Universal Credit taper rate in a move that will put £2bn back into the pockets of the country’s lowest paid workers. Sunak announced in his Budget today that the taper rate will be slashed in December from 63 per cent to 55 per cent in a move that is [...]
Budget 2021: Steel sector bemoans “missed opportunity” as energy costs continue to rise October 27, 2021 The Budget was a “missed opportunity” for the country’s steel sector, argues the UK Steel and Community Union. The organisation has criticised Chancellor Rishi Sunak, believing he has left the steel sector “high and dry” by the lack of action on electricity prices and its failure to set out a clear plan for decarbonising UK steel production. [...]
The Budget: Sunak returns pupil funding to “2010 levels” October 27, 2021 Chancellor Rishi Sunak announced that per pupil funding would return to “2010 levels” in real terms by 2024-25, making an extra £4.7bn available. Sunak makes £2.6bn available for new school places for children with special educational needs and disabilities in England, more than tripling current capital funding levels to over £900m by 2024-25. On the pandemic, Mr [...]
Budget 2021: Government to review further changes to pension schemes charge cap October 27, 2021 As part of his Autumn budget reveal today, Chancellor Rishi Sunak announced that the government will further review the pension schemes charge gap, as a way to encourage schemes to invest in high-growth UK businesses. Under the plans announced today, the government will consider options to amend the scope of the charge cap so that [...]
Rishi Sunak’s Autumn Budget: A quick overview of what has been announced October 27, 2021 Downing in numbers and announcements? No worries, here are the main points from Chancellor Rishi Sunak’s Budget. – The Budget is focused on the “post-Covid” era, according to the Chancellor, and will pave the way for the “Prime Minister’s economy of higher wages, higher skills, and rising productivity”. – Independent forecaster the Office for Budget [...]
Champagne in Canary Wharf: Sunak helps banks to save £4bn following Budget cut in surcharge tax October 27, 2021 The cut to the banking surcharge, announced in today’s Budget, will help UK banks to save £4bn in the next five years. A surcharge of 8 per cent was cut to 3 per cent by Chancellor Rishi Sunak to “maintain the competitiveness of our financial services”, he said. As a result, the amount paid by [...]
Budget 2021: Sunak commits £46bn to railways October 27, 2021 Chancellor Rishi Sunak has announced a further £46bn on rail investment at this year’s Budget. The money is focused predominantly on boosting connectivity across the country. The Autumn Budget and Spending Review includes £35bn directly for railway connectivity over the next three years. It is also committing £5.7bn over five years in eight city regions [...]
The Budget: Sunak pushes for high-skilled migration with scale-up visas October 27, 2021 Chancellor Rishi Sunak has announced a push for "high-skilled migration" to attract the best global talent.
Budget 2021: Retail chiefs disappointed after no decision on online sales tax October 27, 2021 Retail bosses have said the Chancellor’s silence on an online sales tax in the Budget comes as “another blow” to the beleaguered high street. While Rishi Sunak did not mention the mooted sales tax at the dispatch box, the autumn budget and spending review stated ministers will “continue to explore the arguments for and against” [...]
Budget: Labour says UK in store for ‘anaemic’ GDP growth under Tories October 27, 2021 Labour has claimed the UK is in store for “anaemic” GDP growth in the coming years in response to Rishi Sunak’s Budget today. Shadow chancellor Rachel Reeves, filling in for Sir Keir Starmer who has Covid-19, said “the Conservatives are the party of high tax”. Forecasts from the Office for Budget Responsibility (OBR) accompanying the [...]