Record petrol prices reach new highs amid supply shortages November 12, 2021 Petrol prices topped 146p for the first time ever on Thursday, according RAC Fuel Watch. The motoring group’s data shows the average price of petrol has topped 146p a litre for the first time ever. Diesel is also at an all-time high of 149.66p. Chancellor Rishi Sunak’s has pledged to freeze fuel duty for the [...]
Budget 2021: Hospitality and retail to get 50 per cent discount on business rates October 27, 2021 Chancellor Rishi Sunak has announced a one-year 50 per cent business rates discount for retail, hospitality and leisure sectors. Any eligible business in these sectors can claim a discount of up to 50 per cent up to a maximum of £110,000 – a business tax cut worth almost £1.7bn. Under reforms, system property valuations would [...]
Businesses yet to receive a penny from £1.5bn Covid support pot October 11, 2021 English businesses are yet to receive a single penny in relief following the announcement of a £1.5bn targeted Covid support fund six months ago. The business rates relief fund was announced to help businesses affected by Covid outside the retail, hospitality, and leisure sectors. The government said it would retrospectively ban more than 170,000 rates [...]
Budget 2021: Government to review further changes to pension schemes charge cap October 27, 2021 As part of his Autumn budget reveal today, Chancellor Rishi Sunak announced that the government will further review the pension schemes charge gap, as a way to encourage schemes to invest in high-growth UK businesses. Under the plans announced today, the government will consider options to amend the scope of the charge cap so that [...]
Minimum wage set to rise to £9.50 per hour October 25, 2021 The National Living Wage will increase from £8.91 per hour to £9.50 in the Budget this week. The 59p an hour boost means a full-time worker on the National Living Wage will see a pay rise of more than £1,000 a year. This is a 6.6 per cent increase in the minimum wage, which is [...]
Chasm widens between Sunak and Johnson on cost of net zero October 17, 2021 A leaked government document has revealed a widening chasm between Prime Minister Boris Johnson and Chancellor Rishi Sunak over the economic impact of the UK reaching net zero by 2050. Despite Johnson preparing to put the UK at the forefront of global efforts to fight climate change as host of Cop26 climate summit next month, [...]
Pizza Express and IHG back calls for VAT freeze October 24, 2021 More than 200 hospitality bosses have called on the Chancellor to freeze VAT for the sector at 12.5 per cent. CEOs of big names including Stonegate, Pizza Express and IHG Hotels, have urged Rishi Sunak to announce a permanent reduced rate on the Budget on October 27. They said businesses need more support to fully [...]
Exclusive: London rides wave of floats to snatch Europe listing crown December 20, 2021 London has ridden the crest of a wave of companies listing in the capital over the last year, reveals a fresh study shared exclusively with City A.M. today. The City muscled out its rivals on the continent to take the crown as Europe’s top listing hotspot, research by consultancy KPMG has found. The capital breezed [...]
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 [...]
Stella McCartney pay rose to £2.7m while firm took furlough cash December 24, 2021 Designer Stella McCartney enjoyed a pay rise to £2.7m last year, while her business claimed £850,000 in government support during the pandemic, according to reports. The news comes amid reports that meanwhile cosmetics company Charlotte Tilbury has returned furlough payments of £3.2m it took during the pandemic to the government, after its makeup sales withstood the [...]