Coronavirus: Number of UK cases rises to 273 March 8, 2020 The number of cases of coronavirus in the UK has risen to 273, the Department of Health and Social Care has announced, up from 209 yesterday. In a tweet, it said that 23,513 people have been tested for the virus so far, with two of those who tested positive having died so far. London has [...]
Number 10 mulls over tax on over-40s to cover social care costs March 8, 2020 Plans are being considered by the government to implement a new tax on over-40s to help fund their own old age care. The new plan, reportedly being pushed by health secretary Matt Hancock, would see workers over the age of 40 pay 2.5 per cent of their income to pay for their future old age [...]
Treasury to move a fifth of staff to northern ‘economic campus’, says Rishi Sunak March 8, 2020 The Treasury will move one-fifth of its entire staff to the North of England as a part of the government’s plans to “level up” parts of the country. Chancellor Rishi Sunak made the announcement this morning, after ongoing speculation there would a decentralisation of power away from Whitehall and to the regions. Sunak also announced [...]
Coronavirus: Government prepared to give NHS ‘whatever it needs’ March 8, 2020 Chancellor Rishi Sunak has said the Treasury is prepared to give the NHS “whatever it needs” to combat the spread of coronavirus. Speaking just days before his first budget, Sunak gave his assurances that the government were prepared to spend as much money as necessary to stop the virus spreading further. It comes after concerns [...]
Budget 2020: Chancellor Rishi Sunak to scrap ‘tampon tax’ March 6, 2020 The so-called tampon tax is set to be abolished in next week’s Budget. A zero rate of VAT will apply to women’s sanitary products from the start of next year. The UK has been obliged to pay the EU VAT Directive since 1973 and the tampon tax is currently five per cent. MPs voted against [...]
What will Rishi Sunak’s Budget mean for personal taxes? March 6, 2020 With a commitment to leave rates for income tax, national insurance and VAT unchanged, the new Chancellor may be looking for other areas to raise tax in March’s Budget – possibly in capital gains tax and inheritance tax. In addition, the Conservative Party manifesto contained commitments to “review and reform” entrepreneurs’ relief (ER) as well [...]
Budget 2020: Pilots call for air passenger duty tax suspension March 6, 2020 The British Airline Pilots Association (Balpa) has called on chancellor Rishi Sunak to suspend air passenger duty in next week’s budget to protect the struggling aviation industry and avoid another airline collapsing like Flybe. Global airlines have been severely damaged by the coronavirus outbreak, with international trade body IATA predicting a 24 per cent reduction [...]
Budget should include ‘hardship fund’ for firms hit by coronavirus, says British Chambers of Commerce chief March 6, 2020 The chief of the British Chambers of Commerce (BCC) has called on the government to include a “hardship fund” for firms affected by the coronavirus in this month’s Budget. Director-general of the BCC, Dr Adam Marshall, has written to chancellor Rishi Sunak asking him to roll out measures supporting small and medium-sized firms, according to [...]
If the chancellor stands up for small firms, he’ll be standing up for society as a whole March 6, 2020 Ever wondered how much small businesses hand over to the Treasury each year? Try £145bn in corporation tax and VAT alone. Factor in business rates, national insurance contributions, fuel duty, clean air charges and the insurance premium tax, and this big figure becomes, well, astronomical. We small business owners are resilient. We have continued to [...]
National Infrastructure Strategy set to be delayed until after Budget March 5, 2020 The government’s National Infrastructure Strategy is expected to be postponed until after next week’s Budget. The delay will enable the new chancellor Rishi Sunak to refocus the strategy towards achieving a ‘net zero’ economy by 2050, after only stepping into his role last month. The detailed plan to invest £100bn by 2050 will be key [...]