Extra 125,000 workers will pay National Insurance in ‘stealth tax’ hike March 20, 2022 An extra 125,000 people will have to pay National Insurance under Rishi Sunak’s current tax plans, new research has revealed. Research compiled by the Liberal Democrats, using figures from the House of Commons library, suggest that employees face an extra £1.1bn hit through a “stealth tax” if Sunak does not increase the current threshold by [...]
Hospitality chiefs call on Sunak to reverse VAT hike or leave London businesses ‘unviable overnight’ March 20, 2022 Hospitality heads have said the government’s plans to increase VAT from current rates of 12.5 per cent to highs of 20 per cent at the start of next month will see some London businesses “become unviable overnight.” Industry chiefs warned that Chancellor Rishi Sunak’s plans to hike consumer taxes on food, soft drinks, accommodation, and [...]
Soaring inflation is UK’s main financial concern March 20, 2022 Soaring inflation is the top financial concern for UK adults, in both the long and short term, according to new research from M&G Wealth. A quarter (25 per cent) of UK adults cited soaring inflation as their main financial concern over the coming year, according to a survey of 2,000 people. A further 18 per [...]
British Chambers of Commerce urges Sunak to help businesses facing rising costs March 20, 2022 The British Chambers of Commerce has called on Rishi Sunak to help businesses facing rising energy costs as it warns of a “cost of doing business” crisis. BCC director general Shevaun Haviland today urged the chancellor to scrap the planned rise in National Insurance Contributions for employees and employers next month and to implement an [...]
Boris Johnson compares Ukrainian resistance to invasion to Brexit vote March 20, 2022 The Prime Minister said it was the instinct of Brits to “choose freedom,” just as it was the Ukrainian instinct to resist invasion. Boris Johnson has come under fire for comparing the UK vote on Brexit to those impacted by Russia’s invasion of Ukraine, speaking at the Conservative Party’s spring conference. “When the British people [...]
Treasury to reveal £40bn tax boost as Sunak faces calls to further tackle cost of living March 20, 2022 The Chancellor is preparing for a £40bn boost to the Treasury from higher tax receipts as industry and campaign groups call for more solutions to tackle the cost of living. Rishi Sunak is expected to reveal better borrowing figures than previously forecast, alongside higher tax revenues and a slimmer debt-to-GDP ratio in 2021-22. The figures [...]
Has the Ukraine war sped up the clean energy revolution? March 18, 2022 As energy security rises up the political agenda, we look at what Russia’s invasion of Ukraine means for climate change investing. Russia’s shocking invasion of Ukraine is having horrendous consequences, and our thoughts are with the millions of people affected. As climate change investors, we also have to consider the impact of the conflict on [...]
London’s top indexes jump as Bank of England hikes rates again March 17, 2022 London’s top indexes jumped yesterday after the Bank of England lifted interest rates for the third meeting in a row. The capital’s premier FTSE 100 index climbed 1.28 per cent higher to 7,385.34 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, rose 0.34 per cent [...]
Bank of England hikes rates for third successive meeting in bid to catch rampant inflation March 17, 2022 The Bank of England today hiked interest rates for the third successive meeting for the first time since 1997 as it tries to catch up with rampant inflation that is threatening to derail the UK economy. Rate setters at Threadneedle Street sent borrowing costs 25 basis points higher, taking them to pre-pandemic levels of 0.75 [...]
Gordon Brown joins 50 charities urging action on cost of living crisis, u-turn on ‘unthinkable’ below-inflation benefit rise March 17, 2022 Former Prime Minister Gordon Brown joined around 50 charities urging the government to urgently address the cost of living crisis, and change its mind on a below-inflation benefits rise. Pressure was growing on ministers this week not to go ahead with the rise of 3.1 per cent in the Spring statement, as inflation is set [...]