Hunt and Sunak face £89bn fiscal hole without tax rises or spending cuts November 1, 2022 Without spending cuts or tax rises, prime minister Rishi Sunak and chancellor Jeremy Hunt will burn a £89bn hole in the public finances in a few years time, a new report out today reveals. A combination of former prime minister Liz Truss’s tax cuts in the shambolic 23 September mini-budget still lingering and a flatlining [...]
Letters: Prevention is better than cure November 1, 2022 [Re: Sunak confronted by patient over nurses’ pay, Oct 28] On his visit to a South London hospital on Friday, Rishi Sunak was confronted by a patient over nurses’ pay. The government “is trying”, he said; but as the patient rightly said, they need to be trying harder to deliver a stronger NHS. With health [...]
‘It’s going to be rough’: Hunt and Sunak set to announce autumn tax hikes October 31, 2022 Jeremy Hunt is set to announce tax rises in his fiscal statement next month, after holding talks today with Prime Minister Rishi Sunak today. The Treasury said the chancellor and Prime Minister agreed “tough decisions are needed on tax rises as well as spending”, with a Treasury source warning “it’s going to be rough”. The [...]
Government must expand insulation scheme to drive down energy bills October 31, 2022 Energy UK is urging the new Government to ramp up support for the energy efficiency of buildings in the next budget.
Sunak to confirm plan to give Treasury call-in powers over City regulators October 31, 2022 Rishi Sunak is set to push ahead with plans to give ministers the power to overrule decisions made by City regulators. The Treasury has confirmed the government will still go-ahead with the Liz Truss and Kwasi Kwarteng initiative, despite concerns from the Bank of England about the measure. The new call-in power will see ministers [...]
Braverman admits sending government files on personal emails six times October 31, 2022 Suella Braverman has admitted to sending government documents from a personal email on six occasions before she was sacked as home secretary for the security breach. Braverman, who was brought back as home secretary by Rishi Sunak, said in a letter to a Westminster committee that it happened because she needed her work phone to [...]
Explainer-in-brief: Why does Cop27 seem to be the party no one wants to go to? October 31, 2022 Rishi Sunak’s decision not to attend Cop27 was heavily criticised last week. The PM will be focusing on “other pressing domestic commitments”, according to Downing Street. The new environment secretary Therese Coffey and last year’s Cop26 president Alok Sharma will be attending the conference in Egypt. The news that Sunak won’t go came as a [...]
The new government must combine growth with stability, betting big on our trade links October 31, 2022 Now that the turmoil in Westminster has abated, households and businesses across the UK will be hoping that the era of Rishi Sunak’s government will be slightly duller than what preceded it. Stability is an asset that has traditionally underpinned our international attractiveness and competitiveness. It is a cornerstone of the UK’s appeal across the [...]
Difficult decision to come from Sunak and Hunt on bank surcharge October 30, 2022 The government has not ruled out reversing a tax cut on the UK’s biggest banks as it scrambles to overfill a huge hole in the public finances. Asked today by City A.M. if chancellor Jeremy Hunt and prime minister Rishi Sunak would commit to cutting the bank surcharge, an effective windfall tax, the Treasury said [...]
Week ahead: Bank of England to rock markets with 75bps rate hike October 30, 2022 Markets are preparing for a steep rate hike by the Bank of England on Thursday, but not as bad as first feared after former prime minister Liz Truss’s tax cutting mini-budget last month. London’s premier FTSE 100 index posted a decent performance last week, adding 1.12 per cent to close at 7,047.67 points, while the [...]