Budget cancelled as Rishi Sunak prepares to unveil new business support package September 23, 2020 Rishi Sunak has cancelled his planned autumn Budget and will instead announce a new package of emergency support for UK businesses in a bid to stop mass unemployment. Sunak was supposed to unveil his second budget this year within the next few weeks, with the chancellor preparing the country for the next stage of its [...]
Volvo targets return to profit in second half after coronavirus hit July 21, 2020 Swedish car maker Volvo said that it expected its business to bounce back strongly in the second half of the year after falling to a 989m Swedish crown (£87m) loss for the first half. Although the automaker was hit hard by the coronavirus pandemic, it said that it expected the downturn to be a temporary [...]
DEBATE: Is Rishi Sunak’s stamp duty holiday the right move? July 9, 2020 Is Rishi Sunak’s stamp duty holiday the right move? Clive Docwra, managing director of property and construction consultancy McBains, says YES. Raising the level where stamp duty tax kicks in to £500,000 is great news for the London property market. With the average cost of a home in the capital standing at close to £600,000, [...]
‘It’s going to be rough’: Hunt and Sunak set to announce autumn tax hikes October 31, 2022 Jeremy Hunt is set to announce tax rises in his fiscal statement next month, after holding talks today with Prime Minister Rishi Sunak today. The Treasury said the chancellor and Prime Minister agreed “tough decisions are needed on tax rises as well as spending”, with a Treasury source warning “it’s going to be rough”. The [...]
City reckons more ‘enormous’ stimulus to come from Rishi Sunak in autumn July 8, 2020 Chancellor Rishi Sunak today unveiled a package worth up to £30bn to boost the UK economy as the coronavirus lockdown is gradually eased, and promised it “will not be the last action”. At the centre of the stimulus is a “job retention bonus” worth up to £9bn that will pay companies to take back furloughed [...]
FTSE 100 slips despite Chancellor’s raft of new stimulus measures July 8, 2020 The FTSE 100 closed lower on Wednesday, even after the Chancellor unveiled a £30bn stimulus package to get consumers spending again. London’s blue-chip index closed down 0.55 per cent at 6,156 points after a muted day of trading. The FTSE 250 index of slightly smaller companies finished the day 0.95 per cent lower. It came [...]
Gavin Williamson smirks on — proving that this government values loyalty over competence August 19, 2020 If a picture is worth a thousand words, then there is one image that sums up the whole sorry mess of the A-level results fiasco. No, not one of the photos of tearful students, quivering with outrage and despair that their university places had been snatched away by a heartless algorithm. Rather, it is a [...]
Easyjet to reduce flying capacity amid quarantine chaos September 8, 2020 Budget carrier Easyjet today said that it would reduce flying capacity for the fourth quarter due to changes to the UK’s quarantine regime. In a statement, the airline said that the “constantly evolving” restrictions, including yesterday’s decision to add seven Greek islands to the “red list”, was “negatively affecting” customer confidence. As a result, Easyjet [...]
Rishi Sunak’s summer statement: What can we expect? July 8, 2020 Chancellor Rishi Sunak will today give a “summer statement”, a sort of mini-Budget in which he will announce schemes to support the economy as it recovers from its coronavirus-induced collapse. Last week, Prime Minister Boris Johnson announced £5bn of infrastructure spending. He invoked US President Franklin Roosevelt’s 1930s New Deal, saying the UK will “build, [...]
Sajid Javid: Slash taxes and ramp up spending to fuel UK recovery June 23, 2020 Britain should reduce the National Insurance tax and pour money into infrastructure and the poorest regions of the country to boost the UK’s economic recovery from the coronavirus crisis, according to former chancellor Sajid Javid. Javid, who left the Treasury as part of Boris Johnson’s February cabinet reshuffle, warned against a return to the austerity [...]