Sajid Javid confirms £5.4bn extra NHS England funding for winter September 6, 2021 Sajid Javid has today announced NHS England will receive an extra £5.4bn in funding over winter in a bid to clear the Covid-related hospital backlog. The health secretary announced that £1bn will go directly on easing the waiting list, £2.8bn will be used to cover related costs such as enhanced infection control measures and £478 [...]
IoD: Hiking national insurance to pay for social care is illogical September 6, 2021 The Institute of Directors has criticised the government’s reported decision to hike national insurance to pay for social care and clearing the backlog of NHS work. The influential organisation that represents UK business leaders said using national insurance to fund social care is illogical as the levy is intended to provide a safety net for [...]
Number 10 says there are ‘no plans’ for a cabinet reshuffle this week September 6, 2021 Downing Street has hosed down widespread rumours that a cabinet reshuffle will happen on Thursday. Boris Johnson’s official spokesman told journalists repeatedly today that “we have no plans for a reshuffle”. Multiple outlets reported yesterday that Johnson would make his long awaited reshuffle, the first since February 2020, on Thursday. Downing Street cleared his official [...]
Silver Lake takes stake in breakdown firm RAC September 6, 2021 The RAC this morning said that private equity giant Silver Lake would take a stake in the breakdown assistance firm. The California-based investor will join GIC and CVC Strategic Opportunities I as a co-shareholder in the company. RAC chief executive Dave Hobday said that the new investment offered the firm a “fantastic opportunity to accelerate [...]
Dozens of UK’s biggest investment houses fall short of new ESG standard September 6, 2021 Some of the UK’s biggest names in investment have failed to meet a new ESG standard for investing for savers and pensioners, including Schroders, Morgan Stanley and Rothschild. In a new list published by The Financial Reporting Council (FRC) today, asset managers, pension schemes and insurers who successfully met a revised UK stewardship code were [...]
Number 10 prepares for battle over National Insurance rise to fund social care September 5, 2021 Boris Johnson and Rishi Sunak are set to face internal backlash over the pair’s plan to rise National Insurance to pay for NHS rise and social care reform. The pair are expected to unveil the “NHS and Social Care Levy” next week as parliament resumes, which will see employee and employer National Insurance Contributions increase [...]
Boris Johnson expected to breach manifesto national insurance and triple lock pledges September 4, 2021 Prime minister Boris Johnson is expected to breach two key Tory manifesto pledges next week, according to reports. Johnson is set to hike national insurance and limit the rate of uplifts to millions of pensioners’ state pensions, The Times reports. The NI increase is expected to be one percentage point and estimated to raise £13bn. [...]
National Insurance hikes for social care are a reverse Robin Hood picking the pockets of the young and poor September 4, 2021 The Health Secretary Sajid Javid is pushing for a 1% to 2% rise in national insurance to fund social care and the NHS. The Cabinet are reportedly split on the size of the increase, but not on the idea itself. A manifesto-breaking tax rise of some proportion is expected to be announced next week. The [...]
Utmost grows assets under administration to £38.1bn in H1 2021 September 3, 2021 Utmost Group has reported strong results for the first half of the year, growing assets under administration to £38.1bn. The company, a leading provider of insurance-based wealth solutions, grew its asset base by 7.9 per cent year on year and wrote record new business of £1.3bn in H1 2021. The company reported an operating profit [...]
Javid calls for two percentage point hike to national insurance to fund social care September 3, 2021 Health secretary Sajid Javid has called for a higher hike to national insurance to fund clearing the swelling backlog of NHS work and social care, according to reports. Javid has reportedly pushed for a two percentage point increase to NICs in a bid to raise funds for England’s ailing social care system. Javid’s proposed level [...]