Editorial: Risky Rishi’s budget may not taste so sweet if events turn sour October 27, 2021 The poor Labour party. If the job of opposition is to oppose, how to oppose Rishi Sunak’s budget?The truth is that had Sunak’s speech been drafted for Gordon Brown, not many would have batted an eyelid. Spending was replaced with investment; tax cuts a promise, not a reality. There was much to like from a [...]
Former Cadbury chief to head Wagamama’s owner Restaurant Group October 27, 2021 Cadbury’s former chief financial officer Ken Hanna is reportedly set to become the next chairman of Restaurant Group, which owns several chains including Wagamama, Frankie & Benny’s and Chiquito. A stock market announcement is expected to be made on Thursday, Sky News reported, a day after hospitality companies learnt they will be given a 50 [...]
Long-haulers slam APD hike as it “will penalise Global Britain” October 27, 2021 Long-haul carriers have criticised the Chancellor’s decision to increase air passenger duty (APD) rates for flights longer than 5,500 miles. Luis Gallego, chief executive at British Airways’ parent company IAG, said the move “will penalise Global Britain” at a time when the country should be more competitive on the global stage. “We need to get [...]
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: 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 [...]
Budget 2021: Government invests in road and railway, as APD for domestic flights goes down October 27, 2021 In his Autumn Budget speech, Chancellor Rishi Sunak has set out the funding for the transport sector, focusing on road and rail improvements as well as lowering air passenger duty (APD) taxes on domestic flights. To level up the country’s “uneven economic geography”, the Chancellor is allocating £130bn for infrastructure investments such as road, railway [...]
Budget 2021: Sunak scraps rise in fuel duty October 27, 2021 The chancellor is cancelling the planned rise in fuel duty. Speaking at the Budget, Rishi Sunak said he is “not prepared to add to the squeeze on families and small businesses”. Prices at the pumps reached record levels of 142.94p a litre on Sunday. The new record is 28p a litre higher than a year [...]
Budget: Sunak unveils high spending and business rates cutting post-Covid Budget October 27, 2021 Rishi Sunak has increased day-to-day departmental spending by £150bn in today’s Budget, in what has been billed as the largest increase in the last century, and slashed business rates. Sunak said the £150bn boost would see every government department’s budget increase, while the tax cuts will see business rates slashed by £7bn. The chancellor also [...]