How dare the government turn on the self-employed now September 3, 2020 Twice this week, reports have emerged that the Treasury is considering drastic tax hikes on the self-employed: first, increases in corporation tax (hitting the UK’s 715,000 sole directors of limited companies), and second, the equalisation of self-employed and employee National Insurance Contributions. The justification? The support the self-employed got during coronavirus. Given how many people [...]
Travel sector pleads for government support to stave off sweeping job cuts September 2, 2020 Leading figures from across the UK travel industry have come together in an urgent plea for government support to help stave off hundreds of thousands of potential job cuts. In an open letter to chancellor Rishi Sunak and transport secretary Grant Shapps, which has now been signed by over 10,000 people, the “Save Travel” campaign [...]
Rishi Sunak: UK will not be hit by a ‘horror show of tax rises’ September 2, 2020 The UK will not be a hit by a “horror show of tax rises” to pay off the government’s coronavirus spending, according to chancellor Rishi Sunak. Sunak was photographed holding a paper of notes for his address to a group of Tory backbench MPs today, with the speech appearing to suggest the Treasury will not [...]
Eat Out to Help Out: Diner numbers soar on bumper Bank Holiday Monday September 2, 2020 The number of consumers dining out soared on Bank Holiday Monday as Brits rushed to make the most of the last day of the Eat Out to Help Out discount scheme. Figures showed that the number of seated diners in the UK was up 216.3 per cent on 31 August compared to the same day [...]
UK house prices: Will the surge last or is it a bubble? September 2, 2020 UK house prices surged to an all-time high last month as pent-up lockdown demand and chancellor Rishi Sunak’s stamp duty cut stimulated the market. The average UK house price rose to a record £224,123 in August, up from £220,935 in July. Bombastic estate agents greeted the figures with glee, variously describing UK house prices as [...]
Government urges firms to hire under-25s through free ‘kickstart’ scheme September 2, 2020 UK companies can offer six-month work placements to young people – with wages paid entirely by the government – under the “kickstart” scheme launched today. The government urged businesses to sign up and “take advantage of the enormous pool of potential out there”. It warned that young people “could otherwise be left behind as a [...]
UK mortgage lending rises in July as housing market picks up post-lockdown September 1, 2020 UK mortgage lending accelerated in July, a latest sign of a post-lockdown bounce-back in the housing market, and consumers returned to borrowing, data from the Bank of England showed today. Mortgage approvals jumped to 66,300 from just under 40,000 in June and seven times higher than their coronavirus pandemic low of barely more than 9,000 [...]
Coronavirus: Government begins to wind down furlough scheme September 1, 2020 Companies using the coronavirus furlough scheme will now have to contribute to workers’ wages as the government begins to wind down its emergency support. The job retention scheme, introduced in March, has paid 80 per cent of salaries for workers on temporary leave, capped at £2,500 per month. From today this will be reduced to [...]
Labour draws level with the Conservatives in new polling August 30, 2020 Labour has clawed back a 26-point poll deficit to draw level with the Conservatives, after a number of policy U-turns and PR disasters for Boris Johnson’s government. New polling from Opinium/The Observer has Labour and the Tories at 40 per cent of the vote, just five months after Johnson had given his party a 26-point [...]
Rishi Sunak considers £30bn in post-Covid tax hikes August 30, 2020 Rishi Sunak is drawing up plans to implement £30bn in tax rises to plug the budget black hole left by the government’s coronavirus response. The measures reportedly under consideration include raising corporation tax and capital gains tax, breaking the pension triple lock guarantee and cutting foreign aid. The Sunday Times reports that this would include [...]