Government set to scrap entrepreneurs’ relief in £2.7bn tax grab March 1, 2020 Plans have been drawn up by the Treasury to hit businesses with a £2.7bn tax rise in this month’s budget. Chancellor Rishi Sunak is set to scrap entrepreneurs’ relief, which gives a capital gains tax cut to people who start their own businesses. The scheme cuts the amount of capital gains tax paid, when they [...]
Travis Perkins suspends dividend and delays Wickes de-merger March 20, 2020 Builders’ merchant Travis Perkins has suspended its dividend due to coronavirus uncertainty. The company also announced its intention to delay its long planned de-merger of DIY retailer Wickes. However, the group announced in its trading update a strong balance sheet with cash deposits of £185m. Boss Nick Roberts said: “Our highest priority is the health [...]
Coronavirus: Government urged to take ‘every possible step’ to bring UK tourists home March 29, 2020 Foreign affairs select committee chair Tom Tugendhat has written to foreign secretary Dominic Raab seeking assurances that the government has taken “every possible step” to return UK citizens stranded abroad to the UK. Although the exact number is unclear, there are currently hundreds of thousands of British tourists stuck overseas due to the coronavirus outbreak. [...]
IAG boss Willie Walsh to take pay cut amid coronavirus strife March 18, 2020 British Airways owner IAG’s boss Willie Walsh, who earlier this week deferred his retirement to guide the airline group through the coronavirus crisis, has volunteered take a 20 per cent pay cut. Walsh’s decision, which was first reported by Sky News, makes him the latest in a series of prominent airline executives such as Virgin [...]
Coronavirus: UK must prepare for ‘new normal’, says Dominic Raab April 26, 2020 Dominic Raab has warned that Britons will need to adapt to a “new normal” as Boris Johnson prepares to go back to work tomorrow for the first time since being hospitalised. Raab said today that the UK “won’t be going back” to how it was before Covid-19, echoing statements from chief medical officer Chris Whitty [...]
High street footfall soars on Super Saturday after lockdown lift July 6, 2020 Footfall in England hiked almost 36 per cent on Saturday evening, according to new research, as revellers flocked to high streets around the country to enjoy their first pints out after more than three months of lockdown. New data released by Springboard today showed that footfall on English high streets rose 35.8 per cent on [...]
Business groups call for further support as UK tightens restrictions September 22, 2020 The government must set out a new support package as new restrictions threaten to derail the economic recovery, business groups have warned. Addressing the House of Commons today, Boris Johnson dealt a devastating blow to the hospitality sector as he unveiled plans for a 10pm curfew. And as he warned of a second wave of [...]
Coronavirus wage bailout: Government to cover 80 per cent of workers’ salaries up to £2,500 March 20, 2020 The government will pay up to 80 per cent, or £2,500, of the salaries of British workers hit by the UK coronavirus crisis in a huge wage bailout. Chancellor Rishi Sunak announced the extraordinary measures today after Prime Minister Boris Johnson ordered all pubs and restaurants, cafes and gyms to shut their doors tonight and [...]
BCC: UK businesses face cash flow crisis in coronavirus fallout April 2, 2020 Most of Britain’s small businesses have just three months or less of cash reserves as they bid to survive the UK coronavirus outbreak, according to a study released today. And firms have already experienced a “sharp and significant” fall in domestic and overseas revenue amid a global coronavirus lockdown. The British Chambers of Commerce (BCC), [...]
Spending spree could come at a heavy cost February 24, 2020 From the briefings that have been emerging from Downing Street and the Treasury in recent weeks, it is sometimes difficult to remember which party won the last election. Ahead of the Budget, there are reports we could be set for a spending boom to rival Gordon Brown’s pre-election giveaway in 2001 — the very height [...]