Growth forecasts and a lack of ambition portend a grim economic future March 24, 2022 For all the pageantry of yesterday’s spring statement, the truth is that just one thing really matters: the drastic, deeply concerning downgrade in the UK’s growth forecasts. There are only so many political sleight of hands that any Chancellor can do to hide the fact that unless the UK finds the secret sauce of sustained [...]
Rishi Sunak admits Brits face ‘challenging and uncertain’ times after Spring Budget March 24, 2022 Chancellor Rishi Sunak has said the country is facing “challenging and uncertain” times after official forecasters predicted the biggest fall in living standards on record. Following his spring statement on Wednesday, the Chancellor insisted the Government was “on the side of hard-working families”. But Labour said that he had done nothing to tackle the cost-of-living [...]
Fresh 30-year high inflation print wobbles London investors March 23, 2022 A fresh 30-year high UK inflation print wobbled London’s top indexes today. The capital’s premier FTSE 100 index dipped 0.22 per cent to 7,460.63 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.53 per cent to 21,001.62 points. Fresh data released today by [...]
The City View: CEO of WHO Foundation on life-saving healthcare in Ukraine, vaccine equity; and the Spring Statement’s delicate balance March 23, 2022 Today Andy Silvester talks to Anil Soni, CEO of the WHO Foundation. They discuss the efforts being made by the foundation with regards to the Ukraine crisis; how the foundation raises funds; why the interconnectivity of the world means that these funds matter now more than ever; and why everybody wins, even businesses, when they [...]
Office for Budget Responsibility warns household energy bills could double this year March 23, 2022 Energy bills could spike 40 per cent this winter, warned the OBR, placing further pressure on cash-strapped households.
UK households to be saddled with heaviest tax burden since 1940s March 23, 2022 UK households are set to be saddled with the heaviest tax burden since the 1940s even when Chancellor Rishi Sunak’s income tax cut and national insurance tweaks are baked in. Britain’s fiscal watchdog is forecasting the tax burden to hit 36.3 per cent in four years’ time, it said in fresh forecasts published today. The [...]
As it happened: Rishi Sunak’s Spring Budget 2022 March 23, 2022 Live updates and links to all our coverage, reactions and analyses as the Chancellor of the Exchequer, Rishi Sunak, delivers the government’s Spring Budget for 2022 . Please do get in touch and let us know your opinion via news@cityam.com or @Cityam With the cost of living crisis, rising inflation, war in Ukraine and [...]
Sunak gives National Insurance help and promises 2024 income tax cut March 23, 2022 Rishi Sunak has increased the income threshold for National Insurance in a £330 annual tax cut for employees, while also delivering a gloomy updated forecast for the UK economy. Sunak said in his spring statement that the threshold at which employees pay National Insurance will be lifted by £3,000 to £12,570 in what he called [...]
Sunak cuts fuel duty to ease pressure on motorists March 23, 2022 Fuel duty will be cut by five pence per litre for the next 12 months, revealed Chancellor Rishi Sunak in the Spring Statement today.
Rishi Sunak’s Spring statement today: From fuel duty cuts to tax and energy bills March 23, 2022 The time has come for the Chancellor to unveil his spring statement, with the spotlight on how he intends to deal with the cost of living crisis. Rishi Sunak is set to vow to “stand by” British families as he is expected to outline further plans to support households facing financial hardship on Wednesday, which [...]