Tax less, spend more: the Chancellor’s Summer Statement City Talk The Chancellor delivered an Economic Statement that may not have been heralded as a Budget, but nonetheless delivered some significant changes to the country’s taxation and spending regime. In what was clearly a ‘Tax Less, Spend More’ statement, Rishi Sunak delivered not just a VAT cut for the few, but spending grants for the many. [...]
VAT rate cut: implementation for businesses will be more complicated than it appears City Talk The Chancellor’s announcement is a welcome and targeted measure for the hospitality and leisure sector which has been impacted by COVID-19 and this VAT reduction from 20% to 5% is designed to help stimulate spending. Prior to the announcement, there had been speculation that there would be a general rate cut – which we have recently [...]
Rishi Sunak Summer Statement: All the Chancellor’s spending pledges Summer Statement: Sunak reveals VAT and stamp duty cuts Chancellor Rishi Sunak today announced a raft of measures in his Summer Statement in a bid to help the UK economy recover from the worst effects of coronavirus. The Treasury boss revealed massive public spending to bolster the UK economy in what people are calling his mini-Budget. While he did not extend the government’s furlough [...]
Labour: Chancellor has ‘put off big decisions’ in summer statement July 8, 2020 Shadow chancellor Anneliese Dodds has accused Rishi Sunak of putting off many of the “big decisions” until the autumn. Responding to the Chancellor’s statement Dodds said” “Today should have been the day when our government chose to build a bridge on what has been done so far and what needs to be done… we should [...]