HS2 faces seven-year delay as costs set to balloon to £88bn September 3, 2019 The real cost of HS2 could spiral to £88bn as the project faces years of delays, according to an explosive report authored by the chair of the controversial UK infrastructure project. Allan Cook, who has carried out an internal review of the project, said he did not believe the scheme, which will link London to [...]
All the places the Autumn Statement will hit your wallet November 23, 2016 The Autumn Statement was lighter on personal finance initiatives than it has traditionally been – but that doesn't mean it had nothing to offer. For pensioners, without a doubt the most important thing was that the pensions triple lock – which guarantees pensions will rise at least 2.5 per cent a year – has been [...]
Five important things fintech was handed in the Autumn Statement November 23, 2016 The UK's fintech powerhouse was not forgotten in the chancellor's Autumn Statement with several measures aimed at boosting the sector unveiled. Fintech census The government will carry out what's being called a fintech census, designed to identify the key figures driving the industry for investors. "An accurate measurement of this evolving space will help policymakers, investors [...]
This is what the property industry wants from the Autumn Statement November 18, 2016 The big day is almost here – Autumn Statement day. The housing crisis has been at the top of the political agenda for years, but successive governments have failed to get a handle on it. Chancellor Philip Hammond is promising new funding to help get Britain building, but the property industry wants a range of [...]
UK government public borrowing falls to 17-year low but misses Hammond’s spring statement target April 24, 2019 Public borrowing fell to its lowest level for 17 years in 2017-18 but was still higher than predicted, according to data published today. Borrowing hit £24.7bn between April 2018 and March 2019, the Office for National Statistics (ONS) revealed today, £17.2bn less than the previous financial year. Read more: Government borrowing falls to 17-year low [...]
Autumn Statement 2016: There will be an extra £1.1bn invested in English transport networks says chancellor Philip Hammond in his Autumn Statement November 23, 2016 As part of his £23bn to be spent on innovation and infrastructure over five years the chancellor Philip Hammond has announced there will be an extra £1.1bn invested in English transport networks, "where small investments can often achieve big wins". Some of this will go on rail. Hammond said the transport secretary will set out more details [...]
Spring Budget 2017 figures predict banks will cough up an extra £2.1bn in bank levy and surcharge payments compared with Autumn Statement 2016 forecasts March 8, 2017 The government expects to pocket an extra £2.1bn from banks' coffers compared with what it forecast four months ago. Figures tucked away at the back of the spring Budget statement reveal the Treasury now expects to bring in £27bn from the bank levy and surcharge combined between financial years 2015-16 and 2021-22. The same analysis in last [...]
Here’s how the Autumn Statement will affect your local pub November 23, 2016 Without mentioning the pub industry directly, the Autumn Statement laid out a handful of policies that will affect the sector. Here are the industry's top concerns. Increasing the National Living Wage will hurt pubs Wages for over-25s will rise 30p to £7.50 per hour in April 2017, and the rates of National Minimum Wages will increase as [...]
Autumn Statement TL;DR? Here’s our at-a-glance guide November 23, 2016 Chancellor Philip Hammond spoke for around an hour while delivering today's Autumn Statement. If you don't have time for that, here's our at-a-glance overview of the announcements you need to know: Economics, public spending and politics The Office for Budget Responsibility (OBR) forecast for growth increased to 2.1 per cent, up from two per cent, for 2016, but [...]
Salary sacrifice schemes hit in Hammond’s first Autumn Statement November 23, 2016 Employee salary sacrifice schemes such as gym memberships will no longer be tax-free, the chancellor said today. Philip Hammond said in his Autumn Statement that certain benefits employees enjoy tax-free at the moment will no longer be exempt. The Treasury said that the tax and employer National Insurance advantages of salary sacrifice schemes will be [...]