Yes, other countries are borrowing heavily, but that’s the point. We need to demonstrate Britain takes fiscal prudence seriously, that we can have the tough internal discussions, within Government, to commit to written predictions of where we think our public finances might go. We want ministers dealing with “the here […]
Rishi
Am I eligible for the job support scheme? How to apply for Rishi Sunak’s new plan
Am I eligible for the wage subsidy scheme? Anyone who was working as of yesterday is eligible. However, you must work at least one third of your normal contracted hours. Businesses that have not yet used the furlough scheme can also access the new scheme but not all companies will be […]
The winners and losers of Rishi Sunak’s new plan for jobs
Workers have been spared from the prospect of mass redundancies when the furlough scheme comes to an end, with the Government announcing new measures to keep people in jobs. People who work at least a third of their usual hours will have their wages topped up by the state, Chancellor Rishi […]
Rishi Sunak should follow Trump’s lead and ramp up benefits
Moving Trump-style to massively enhanced universal credit payments, with top-ups linked to retraining, frees up employed workers and gives them some measure of financial support through a harsh economic winter. Hence it follows that the Chancellor won’t need his £1,000 furlough bonus any more. The Office for Budget Responsibility has already […]
Rishi Sunak faces a race against time to avoid furlough redundancies
Furlough dilemma as new-look economy emerges “The Government is going to need to do something to support wages in the most disrupted sectors,” says Tony Wilson, head of the Institute for Employment Studies. “But they are on the horns of a dilemma here because a lot of what is happening […]
Rishi Sunak hints at more jobs support as unemployment crisis deepens
The official unemployment rate rose for the first time since the pandemic struck, climbing marginally from 3.9pc to a two-year high of 4.1pc. But economists expect the furlough-distorted figure to soar much higher as the scheme is withdrawn. Following the gloomy figures, ministers boosted hopes they will intervene to stop […]
Rishi Sunak poised to reject banks’ appeal for help collecting Covid debts
Rishi Sunak is set to snub a post-Covid action plan put forward by a group of bankers that calls for the government to take responsibility for tens of billions of pounds of toxic business loans. The City had proposed the creation of a state-backed organisation that would refinance soured coronavirus loans. But sources have told the […]
Tax rises could ‘choke off’ recovery, Rishi Sunak is warned
Tory MPs are nervous about any increase in corporation tax, in particular, because increasing it to 24 per cent would parrot Labour’s tax policy. Stephen Barclay, the Chief Secretary to the Treasury, refused to rule out rises and insisted such issues were a matter for the Budget. He told Times […]
Five ways Rishi Sunak could change capital gains tax and what it would cost you
Rishi Sunak has ordered a review into capital gains tax, as the Chancellor faces the prospect of plugging a £322bn black hole caused by coronavirus. It has prompted speculation that the Chancellor is planning sweeping policy reforms to raise revenue as the country’s spending in the wake of the Covid-19 […]
Rishi Sunak orders review of capital gains tax amid fears of rate increase
The Chancellor Rishi Sunak has commissioned a review of capital gains tax, sparking fears the duty’s historically low rates will be increased to help plug the £300bn whole in public expenditure caused by coronavirus. He has asked the Office of Tax Simplification to conduct the review, which will assess whether the […]