Editorial: Crisis? What crisis? Sunak and his party would be wise to avoid complacency October 5, 2021 The year is 1979, and rubbish bags are piling up in Leicester Square. Lorry drivers are striking leading to queues at fuel pumps, and Brits are panic-buying bread. Prime Minister Jim Callaghan returns to Britain from a conference in Guadeloupe and declares airily that “I don’t think other people in the world would share the [...]
Conservative conference: Rishi Sunak declares the ‘future is here’ October 4, 2021 Rishi Sunak has declared the “future is here” in his party conference speech as he vowed to bring the UK’s economy into the 21st century. The chancellor said “I want tax cuts”, but that first “public finances must be put back on a sustainable footing”. It comes after the government recently increased National Insurance Contributions [...]
Rishi Sunak does not rule out council tax rise as he will ‘cut up Boris Johnson’s credit card’ October 4, 2021 Chancellor Rishi Sunak does not rule out further tax rises, including a hike in council tax to pay for social care. Asked about a warning from the Local Government Association that council tax may have to rise to plug a black hole in social care, Sunak said it would be wrong to “pre-empt” the local [...]
Interview: IoD’s new chief economist delivers damning verdict on Tory tax hikes October 4, 2021 After just a month or so into the job, the freshly appointed chief economist of the organisation that represents British business leaders is wasting no time in weighing in on the ails of the UK economy, shooting down one area in particular – tax. Kitty Ussher of the Institute of Directors (IoD) has slammed the [...]
Rishi Sunak to unveil £500m extra funding for Covid jobs programmes October 3, 2021 Rishi Sunak will tomorrow commit to an extra £500m in spending to boost the government’s post-Covid jobs and skills programmes. Sunak will say in his Conservative party conference speech that he will “double down” on his promise to “do whatever it takes” to protect people’s jobs and livelihoods during the pandemic. It comes as the [...]
Sunak mulling emergency Covid-19 loan scheme extension October 3, 2021 Chancellor Rishi Sunak is set to extend the Covid-19 emergency loan scheme in a bid to support businesses amid intensifying cost pressures and severe worker shortages. Officials at the Treasury are reportedly mulling extending the Recovery Loan Scheme, which is set to end on December 31, according to reports in the Daily Telegraph. The extended [...]
Boris Johnson admits UK shortages are here to stay until Christmas October 3, 2021 Boris Johnson has admitted the UK’s goods shortages will likely last until Christmas, while adding that “we need to see” a “period of adjustment” post-Brexit. The Prime Minister said today that he would not “pull the lever” of more immigration in the short-term to stop the lorry driver shortages. Petrol shortages are still being seen [...]
Sunak and Johnson strike deal to wean government off borrowing October 3, 2021 Prime minister Boris Johnson and chancellor Rishi Sunak have brokered a deal to wean the government off borrowing to finance spending. Any new spending announced at the upcoming budget and spending review must be financed by reductions in spending elsewhere or tax hikes, Johnson has reportedly agreed to. The news was first reported by The [...]
FSB: Tax hikes risk severing Conservatives’ ties to business – CityAM : CityAM October 1, 2021 The Conservative Party’s ties to British businesses are at risk of being severed by looming tax hikes. The lobby group for British small businesses has slammed the Tories’ plans to raise national insurance at a time when firms across the country are grappling with higher costs and shortages. Also Read: Shortages and spiralling costs deal [...]
Gas prices hit a five-year high, just a day after three more suppliers go bust – CityAM : CityAM September 30, 2021 Gas prices have hit a five-year high today, a day after the UK’s gas crisis pushed three more suppliers to collapse. UK contracts for next month rose above 238p per therm, while wider European natural gas and power prices also touched new records. It comes as Rishi Sunak is set to announce £500m in grants [...]