2020 Budget key points: Coronavirus, spending spree and even some jokes March 11, 2020 Chancellor Rishi Sunak outlined a massive spending spree and a £30bn package to shelter the UK economy through the coronavirus crisis in his 2020 Budget today, as the budget watchdog said he would borrow £100bn over five years to do so. The Treasury boss, who had just four weeks to prepare for today’s Budget, even [...]
Budget 2020: Government to move 22,000 civil servants from London March 11, 2020 The government will move 22,000 civil servant jobs away from London in a major Whitehall shakeup. Chancellor Rishi Sunak made the announcement in his Budget speech today, confirming that 750 staff from the Treasury and departments of business, international trade and local government would move to an “economic campus” in the North. The announcement was [...]
Budget 2020: Government will raise living wage and lift floor for National Insurance March 11, 2020 The chancellor Rishi Sunak said today that the government will raise the national living wage to £10.50 by 2024 and will raise the minimum threshold for National Insurance. In his budget speech Sunak announced a goal of raising the national living wage to two thirds of median earnings by 2024 – which would be equivalent [...]
Budget 2020: Government announces £27.4bn roads revamp March 11, 2020 On the back of new chancellor Rishi Sunak’s announcement of £27.4bn in investment for the UK’s roads in today’s budget, the Department of Transport has published its strategy for revamping the UK’s motorways and “A” roads. The funding will go towards the both the enhancement and repair of existing roads as well as completing a [...]
Budget 2020: Government confirms £5bn broadband boost March 11, 2020 Chancellor Rishi Sunak today confirmed that the government will pump £5bn into its plan to roll out full-fibre broadband across the UK. The broadband pledge formed a major part of the Conservatives’ election manifesto as part of its promise to “level up” the UK. Prime Minister Boris Johnson last year laid out an ambitious pledge [...]
Budget 2020: Rishi Sunak gives economy £30bn boost amid coronavirus outbreak March 11, 2020 Chancellor Rishi Sunak has announced a £30bn stimulus package to support the UK economy through the coronavirus outbreak in the biggest spending spree in almost 30 years. Sunak – who was made chancellor last month – said it was one of the most comprehensive responses to the outbreak by any government. The plan earmarks £12bn [...]
Budget 2020: Chancellor introduces digital services tax March 11, 2020 Chancellor Rishi Sunak today confirmed the introduction of a digital services tax as the government looks to ensure tech giants pay their fair share of tax. The new tax, which will come into force from 1 April, will charge two per cent levy on sales for certain digital businesses. The move is set to raise [...]
Budget 2020: Retail and leisure sector reacts to ‘disappointing’ business rates reform March 11, 2020 Business rates have been the key issue for retailers in the run up to today’s budget, made even more crucial by the outbreak of coronavirus. Chancellor Rishi Sunak announced measures to support more small leisure, hospitality and retail businesses with a rateable value of less than £51,000. Business rates for those firms will be scrapped [...]
Budget 2020: Chancellor scraps VAT on digital publications March 11, 2020 Digital publications will no longer be liable to VAT charges under new measures outlined by chancellor Rishi Sunak today. In his inaugural Budget speech, Sunak said the so-called reading tax will be abolished from 1 December. This means that any digital publication, including books, newspapers, magazines and academic journals, will no longer be charged VAT. [...]
Number of UK coronavirus cases record biggest daily jump to 456 March 11, 2020 The number of UK coronavirus cases leapt by 83 today to a total of 456 Covid-19 infections, the Department of Health said today. Today’s rise marks a significant increase in the UK’s daily reported number of cases. Public Health England recorded 54 new cases yesterday morning, and 46 new cases on Monday morning. Doctors have [...]