Budget 2021: Sunak commits £46bn to railways October 27, 2021 Chancellor Rishi Sunak has announced a further £46bn on rail investment at this year’s Budget. The money is focused predominantly on boosting connectivity across the country. The Autumn Budget and Spending Review includes £35bn directly for railway connectivity over the next three years. It is also committing £5.7bn over five years in eight city regions [...]
The Budget: Sunak pushes for high-skilled migration with scale-up visas October 27, 2021 Chancellor Rishi Sunak has announced a push for "high-skilled migration" to attract the best global talent.
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 launches tighter fiscal rules to repair public coffers October 27, 2021 Chancellor Rishi Sunak announced a fresh set of fiscal rules at the budget today in a bid to repair the damage inflicted on the public finances from the Covid-19 crisis. Sunak told the House of Commons the debt-to-GDP ratio must be shrinking and the government must not borrow to fund day-to-day spending. The rules apply [...]
Budget 2021: Government to launch new Scaleup visa for high-skilled workers early next year October 27, 2021 In today’s Autumn Budget announcement, Chancellor Rishi Sunak said the government will introduce a new Scaleup visa to attract highly skilled people from abroad to the UK’s fastest-growing businesses. The new visa plans will “make it quicker and easier for fast-growing businesses to bring in highly skilled individuals from around the world,” Sunak said. He pointed [...]
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 2021: Alcohol duty to be overhauled as spirit duty hike cancelled October 27, 2021 Chancellor Rishi Sunak has set out a five-step plan to overhaul alcohol duty, speaking at the Budget. The current system is “outdated, complex and full of historical anomalies”. The number of main duty rates will be cut from 15 to six with an aim to “end the era of cheap, high-strength drinks.” Drinks are to [...]
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 [...]