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Budget 2021

  • Green Budget 2021: Net zero strategy to receive around £11.4bn in new funding

    October 27, 2021

    The government is set to inject more than £11.4bn in new funding into its net zero strategy, according to chancellor Rishi Sunak’s Autumn Budget today. The fresh capital will go towards “the new, green industries of the future”, Sunak said this afternoon. “We are making this country a science and technology superpower”. It will mean [...]

  • Budget 2021: Sunak pushes back R&D £22bn spending goals by two years

    October 27, 2021

    In today’s budget announcement, Chancellor Rishi Sunak said the government will funnel “unprecedented funding” into innovation, increasing R&D spending to £20bn a year by the end of this parliament in 2024 – but this is down from his previous commitment in March of £22bn per year. Sunak has erred on the side of caution by [...]

  • Budget: UK to invest £850m to protect museums, galleries, libraries and local culture

    October 27, 2021

    Chancellor Rishi Sunak has announced the government will be investing £850m to protect museums, galleries, libraries, and local culture.

  • Budget 2021: UK to return to offering 0.7 per cent of national income in foreign aid

    October 27, 2021

    True to his promise, chancellor Rishi Sunak has said the UK will return to offering 0.7 per cent of gross national income (GNI) in overseas aid over the next four years. The spending will grow from the 0.5 per cent rate it is now before the parliament’s end in 2024, earlier than the office for [...]

  • Budget 2021: Levy for property developers to fund removal of unsafe cladding

    October 27, 2021

    Chancellor Rishi Sunak has reiterated plans for a levy for property developers to help create a fund to remove unsafe cladding. Speaking at the Budget, Sunak said property developers with profits over £25m will face a levy at a rate of 4 per cent. This will be used to help create a £5bn fund to [...]

  • Budget 2021: Sunak extends HGV road user levy until 2023

    October 27, 2021

    Chancellor Rishi Sunak has announced that the HGV road user levy will be suspended until 2023. It was initially suspended until August in 2022, but this will now be extended for a further year. Speaking at the Budget, Sunak also revealed the government is freezing vehicle excise duty for HGVs. The Road Haulage Association welcomed [...]

  • D-Day for Rishi Sunak: What do City insiders expect from the Autumn Budget?

    October 27, 2021

    In today’s Autumn Budget, Chancellor Rishi Sunak will outline how he plans to “drive growth while keeping the public finances on a sustainable path”. City A.M. checked in with a number of Square Mile professionals this morning to see what they hope or expect the Budget will bring today. VAT Yesterday the news broke that there will [...]

  • Budget: Government risks lost generation of self-employed Brits, warns tax leader

    October 27, 2021

    Ahead of the Budget today, the Chancellor has been urged to resist introducing further tax changes that offer ‘quick wins’ for the economy but deal long-term, or even permanent, damage to the UK’s self-employed workforce. After breaking a Conservative manifesto pledge in September by announcing the social care levy, which will see national insurance and [...]

  • Autumn Budget LIVE: Chancellor to usher in ‘age of optimism’

    October 27, 2021

    Expectations are sky high after Chancellor of the Exchequer, Rishi Sunak, promised to usher in an ‘age of optimism’ with the Autumn budget. While the official announcement is not expected until 12:30 this afternoon the Chancellor has already briefed press on where key portions of the money are going to be allocated. In fact, Sunak [...]

  • Today’s Budget: Sunak’s dilemma of greater spending vs balancing the books

    October 27, 2021

    Later today, Chancellor, Rishi Sunak will reveal the government’s tax and spending plans in the 2021 Budget. It is widely expected Sunak will focus on support for businesses and individuals in the aftermath of Covid 19. Spreading the wealth around the UK with the government’s ‘levelling up’ promises, as well as its plans for greener energy [...]

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