Friday, Mar 05, 2021 - 20:43:11
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Sunak’s Budget:

    RISHI Sunak has turned from “Santa to Scrooge'' and is expected to clobber Brits with another tax bombshell, top economists have warned today. The Institute for Fiscal Studies poured cold water on the Chancellor’s plans, warning they cannot be delivered without considerable “pain”. ???? Read our Budget 2021 live blog for the latest news & updates 5 A staggering 1 million people will be dragged into paying the higher rate of income tax by 2025 thanks to the Chancellor's plans, they warned - taking the total to 5 million. But policy wonks at the Institute for Fiscal Studies warned the Chancellor will have to launch a fresh tax raid on families to plug the holes in the budget. He has massively underestimated the amount of cash needed to fund public services after Covid, they warned. While he risks harming jobs and growth by whacking up Corporation Tax to 25 per...
    RISHI Sunak has bet the farm on fuelling a historic two-year boom to bail out our ­broken economy. Provided inflation stays low, it’s the right course. ???? Read our Budget 2021 live blog for the latest news & updates 2The Chancellor has bet the farm on fuelling a historic two-year boom to bail out our ­broken economyCredit: AFP or licensors Even the Office for Budget Responsibility, not famous for its ­exuberant optimism, reckons we are poised to roar back — with FAR lower unemployment than first feared too. The Chancellor’s Budget contained a blizzard of welcome tax breaks designed to transform post-Brexit, post-Covid Britain into a super-strength magnet for investment and jobs. And despite the almost unimaginable hole the pandemic has blown in the public finances, there were still nuggets for Sun readers to cheer. Mr Sunak froze duty on booze and, once again, on fuel –— another triumph...
    A FAMILY of four will have to shell out an additional £20 to go on holiday, Budget documents reveal. Taxes on long-haul flights are to rise despite airlines calling for them to be scrapped. 2Families of four will have to pay up to £20 extra to travel from AprilCredit: Hero Images Inc. Short-haul rates remain frozen. Air Passenger Duty (APD) rates for departures from Britain will increase by £2 per economy ticket, going from £80 to £82, and by £5 from £176 to £181 for those in premium, business and first class cabins. This means a family of four on a long-haul flight in economy would have to pay an extra £8 each way, working out to £16 extra. If in premium economy or above, this rises from £40 for the return flights for four people. The change, revealed in Treasury documents accompanying Chancellor Rishi Sunak's Budget, is in line...
    The United Kingdom will increase corporate tax to 25% by 2023 to finance part of the huge public deficit caused by measures to support the economy, the total amount of which will reach 407 billion pounds by 2022 (471 billion euros). The corporate tax increase will not affect small businesses, which will continue to be taxed at 19%, Chancellor of the Exchequer Rishi Sunak said on Wednesday when he unveiled his budget in parliament. Mr. Sunak will also propose a tax deduction for companies when they invest. In total, the budget includes announcements of new aid measures amounting to 65 billion pounds (75 billion euros) for this year and next. The UK economy is expected to grow by 4% in 2021 and then return to its pre-pandemic level in mid-2022, Finance Minister Rishi Sunak said on Wednesday, unveiling his budget. This growth forecast for 2021 is less optimistic than...
    RISHI Sunak has announced visa reforms to attract 'highly skilled' migrants to Britain to help rebuild the nation's economy. The Chancellor unveiled the plans during his Budget speech today as he unveiled a bumper £65 billion package to get Britain back on track following the Covid crisis. ???? Read our Budget 2021 live blog for the latest news & updates 3Chancellor Rishi Sunak unveiled his Budget pack in the Commons todayCredit: supplied by Pixel8000 Mr Sunak told MPs he wanted Britain to attract 'international talent' in areas such as science and tech to make the country a global hub for innovation. He said: "A new unsponsored points-based visa to attract the best and most promising international talent in science, research and tech, new, improved visa processes for scale-ups and entrepreneurs, and radically simplified bureaucracy for high-skilled visa applications." To help firms access funds to grow, Mr Sunak...
    LOOSE Women has been cancelled and This Morning cut short today to make way for Rishi Sunak's budget. The chancellor's big news has wiped out the ITV daytime schedule, with Janet Street-Porter and co forced to make way. ???? Read our Budget 2021 live blog for the latest news & updates 3Loose Women's star have been given the day off as the Budget takes precedenceCredit: Rex Features This Morning had to end a quarter of an hour earlier than usual too, with viewers tuning into their regular shows disappointed. Phillip Schofield and Holly Willoughby revealed the bad news as the show ended abruptly and an ITV news special striking up. BBC Two has also been turned over to hours of coverage and analysis of the Budget today while Channel 4 is airing Steph's Packed Lunch as normal. Loose Women will return to the daytime line-up and This Morning will air...
    LONDON (AP) — Britain’s treasury chief is expected to extend job support programs and temporary tax cuts to help workers and businesses hit by the coronavirus pandemic when he delivers his budget to Parliament on Wednesday. Rishi Sunak said in a tweet he will announce a three-part plan to “protect the jobs and livelihoods of the British people” when he speaks to House of Commons at 12:30 p.m. London time. British media reports indicate Sunak will extend the furlough program, under which the government pays 80% of the wages for private employees unable to work during the pandemic. He also plans to expand grants for self-employed workers, while extending a temporary increase in welfare payments and tax relief for businesses. While the pandemic has pushed public borrowing to levels not seen since World War II, economists say the stimulus programs need to continue as large parts of the economy remain...
    LONDON (AP) — Britain’s treasury chief is expected to extend job support programs and temporary tax cuts to help workers and businesses hit by the coronavirus pandemic when he delivers his budget to Parliament on Wednesday. Rishi Sunak said in a tweet he will announce a three-part plan to “protect the jobs and livelihoods of the British people” when he speaks to House of Commons at 12:30 p.m. London time. British media reports indicate Sunak will extend the furlough program, under which the government pays 80% of the wages for private employees unable to work during the pandemic. He also plans to expand grants for self-employed workers, while extending a temporary increase in welfare payments and tax relief for businesses. While the pandemic has pushed public borrowing to levels not seen since World War II, economists say the stimulus programs need to continue as large parts of the economy remain...
    RISHI Sunak will deliver his Budget to the nation at lunchtime today. The Chancellor will stand up in the Commons and reveal the extra Covid help which will continue for millions of Brits. ???? Read our Budget 2021 live blog for the latest news & updates Budget 2021 - Chancellor Rishi Sunak WILL extend furlough scheme until end of September in boost for workers
    Chancellor of the Exchequer Rishi Sunak will present the United Kingdom’s first budget on Wednesday since leaving the single European market, with the priorities of relaunching after the pandemic and the start of a recovery in public finances. The United Kingdom, a European country with the worst health record with some 122,000 deaths attributed to the virus, is also the developed country to have suffered the worst economic shock with a GDP that plummeted 9.9% last year. Read also: Vaccination: the EU is at the level reached by the United Kingdom a month ago Following three lockdowns, the unemployment rate rose to 5.1% but would have skyrocketed much more without massive employment aid: the government has covered 80% of wages up to 2,500 pounds per month since March. The Minister of Finance is called by many economists or politicians to extend this aid beyond their current deadline in April,...
    BRITS need to brace for tax rises to get the nation's finances back in the pink, a top Tory has warned ahead of Rishi Sunak's budget tomorrow. William Hague, who is a close ally of the chancellor, said levies on businesses and individuals "have to go up" to pay off the pandemic debt pile. ???? Read our Budget 2021 live blog for the latest news & updates 3Rishi Sunak will deliver his budget tomorrowCredit: Reuters And he warned MPs who oppose tax rises because of the current economic climate are buying into "dangerous illusions". His intervention on the eve of the budget will be seen as a clear indication of Mr Sunak's determination to press ahead with new levies. This morning the business secretary Kwasi Kwarteng admitted the Treasury will need to start clawing back the cash spent on schemes like furlough. He warned the country can't "go on spending...
    RISHI Sunak is set to extend furlough in tomorrow's Budget as the minister confirms there will be a "raft of measures" made. The Chancellor is expected to include a fourth furlough scheme extension when he makes his public economic proposals tomorrow. ???? Read our Budget 2021 live blog for the latest news & updates 1Rishi Sunak is expected to extend the furlough scheme Business Secretary Kwasi Kwarteng has signalled that Chancellor will announce the extension during his public announcement of the Budget on Wednesday. Mr Kwarteng told BBC Breakfast: "I think the Chancellor has already indicated that we will be extending furlough. "I think that has been part of a public announcement. I think there will be other measures that we will see tomorrow." The Budget will be held this week on Wednesday March 3. The Chancellor takes centre-stage as he outlines the government's plans for tax hikes, cuts and things...
    3 RISHI Sunak must use tomorrow’s Budget to create 250,000 green apprenticeships, eco-campaigners have urged. Friends of the Earth said the Chancellor could tackle both climate change and soaring youth unemployment in one “double whammy”. ???? Read our Budget 2021 live blog for the latest news & updates 3Rishi Sunak must use tomorrow’s Budget to create 250,000 green apprenticeships, eco- campaigners have urgedCredit: Reuters The Chancellor is under pressure to use his last Budget before the COP26 climate change conference to push a raft of eco-changes through. The charity calls for a green apprenticeship programme to be run alongside other schemes from the DWP, Department for Education and Treasury. Denis Fernando, climate campaigner at Friends of the Earth, said it would "prevent a new wave of youth unemployment, while helping the UK towards a more climate-friendly future.” Most read in UK News'SURVIVED BY MAGIC'Man jailed after trying to murder...
    BRITS will get up to £1million to rescue their local pub or footie club from closure, Rishi Sunak will announce on Wednesday. The Chancellor will use the Budget to pledge a whopping £150 million to help neighbourhoods take over assets loved by the community. ???? Read our Budget 2021 live blog for the latest news & updates 3Brits will get up to £1million to rescue their local pub or footie club from closure, Rishi Sunak will announceCredit: EPA He hopes the jumbo fund will stop a generation of local boozers and sports grounds from closing for good in the Covid recession. He said: “Pubs and sports clubs are the heart and soul of our local towns and villages – they’re the glue that keeps us together. “This fund will help to ensure vital local institutions aren’t lost to those who treasure them most.” Under the plan, communities that want to...
    RISHI Sunak will give a £520million “shot in the arm” to Britain’s army of small businesses to help the nation recover from the Covid recession. The Chancellor wants to use the cash to help small firms act like City giants so they get a bigger slice of lucrative online sales. ???? Read our Budget 2021 live blog for the latest news & updates 3Rishi Sunak will give a £520million “shot in the arm” to Britain’s army of small businesses to help the nation recover from the Covid recessionCredit: PA:Press Association Under the ‘Help to Grow’ scheme, which will be unveiled in Wednesday's Budget, businesses will get up to £5,000 in vouchers to help improve their IT and become more productive. They will also be able to get management training from Britain’s world-beating business schools. Mr Sunak said: “Our brilliant SMEs are the backbone of our economy, creating jobs and generating...
    RISHI Sunak is reportedly plotting a tax raid on online deliveries and the self-employed to help pay for the spiralling £300bn Covid bill. He will use Wednesday's budget to unveil consultations on further tax hikes to pay for the mounting cost of the crippling pandemic, claims a new report. ???? Read our coronavirus live blog for the latest news & updates... 2Chancellor Rishi Sunak is reportedly plotting a tax raid on online deliveriesCredit: PA:Press Association The Sunday Telegraph says this will include options to further hit online retail - and could even include the possibility of a new "green tax" on every delivery. However the report claims it is now understood he is not looking at a suggested windfall tax on the “excess profits” of internet giants. The Chancellor is also said to be planning to use an autumn Budget to increase the National Insurance contributions of the self employed. It is...
    RISHI Sunak will unveil a £5billion rescue package for high streets this week. Pubs, restaurants, shops and hair salons will get up to £18,000 each from a pandemic revival fund. ???? Read our coronavirus live blog for the latest news & updates... 4Rishi Sunak will unveil a £5billion rescue package for high streets this weekCredit: Andrew Fox 4The Budget will be held on Wednesday March 3, 2021 The Chancellor hopes it will breathe new life into nearly 700,000 businesses stricken by a year of Covid. He will announce the “restart” grants in a bounce-back Budget. The funding for traders will take total government backing for businesses to £25billion since the first lockdown began last March. Mr Sunak said last night: “There’s now light at the end of the tunnel and this £5billion of extra cash grants will ensure our high streets can open their doors with optimism.” Tax hike pleaEX-CHANCELLOR Ken Clarke...
    BRITAIN'S public finances face "enormous strains" in the wake of the third national lockdown as data, the Chancellor has warned. Rishi Sunak said he wanted to "level with people" about the bill for the Government's £280bn Covid support which he said will eventually have to be paid. ???? Read our coronavirus live blog for the latest news & updates... 3Chancellor of the Exchequer Rishi Sunak has warned of the 'enormous strain' placed on the UK's finances by the pandemicCredit: Reuters Low-interest rates, which have allowed the Government to borrow to pay for the Covid support costs, have left the nation's finances "exposed", Mr Sunak. He told the Financial Times: "We now have far more debt than we used to and because interest rates... at least a month or two ago were exceptionally low, that means we remain exposed to changes in those rates. "That's why I talk about levelling with people about...
    BOSSES will get £3,000 for every new apprentice they take on, Rishi Sunak will announce in next week’s Budget. It is part of a multi-million-pound jobs bonanza intended to help the Covid-ravaged economy bounce back. 1Rishi Sunak is set to announce bosses will get £3,000 for every new apprentice they take on in next week's BudgetCredit: PA:Press Association The Chancellor will put £126million into providing more traineeships. Firms get £1,000 to take on a trainee, who gets work experience and English and maths lessons. And under a separate scheme, the bonus given to those that take on an apprentice will be raised from £2,000 to £3,000 from April 1. Mr Sunak vowed to do everything he could to retrain Brits and keep them away from the dole queue. He said: “Our Plan for Jobs has spread opportunity and hope throughout the crisis — helping people back into work and harnessing...
    RISHI Sunak must place the nation’s army of plumbers, sparkies and construction workers at the heart of plans to repair the economy in next week’s Budget, the Lib Dems say. They are urging the Chancellor to create a £50billion rescue package of tax cuts and bailouts to help small businesses get back up and running after the pandemic. 2Construction workers should be at the heart of plans to repair the economy, Lib Dems sayCredit: Alamy Lib Dems say the Government has left small businesses hanging by a thread during the pandemic, with one in seven small firms – a massive 906,000 businesses – at risk of going bankrupt by April unless they receive additional support according to the Federation of Small Businesses. It would leave 2.5 million people without a job. Christine Jardine MP, Treasury Spokesperson for The Liberal Democrats, launched calls for the Chancellor to put small businesses first...
    The Telegraph Raising taxes before pandemic is over ‘makes no sense’, David Cameron warns Rishi Sunak It would not make “any sense at all” to raise taxes in next week’s Budget while the UK is still in the grip of the coronavirus pandemic, David Cameron has warned Rishi Sunak. Mr Cameron said any tax rises must wait until the UK has emerged from all lockdown measures and urged ministers to consider the pandemic a “wartime situation”. Speaking to CNN, the former Prime Minister defended his own austerity measures while in Government after the 2008 financial crisis, but said the same policy would be damaging now. “Today we do face very different circumstances,” he said. “So piling, say, tax increases on top of that before you’ve even opened up the economy wouldn’t make any sense at all. “I think it’s been right for the government here in the UK and governments...
    RICH pensioners are being targeted with a "stealth tax" in the budget to try and repair Britain’s post-pandemic finances. Chancellor Rishi Sunak is reportedly drawing up plans to freeze the lifetime allowance people can have in their pension pot at just over £1million. ???? Read our coronavirus live blog for the latest news & updates... 3Pensioners are being targeted with a "stealth tax" in the budget (stock image)Credit: Getty - Contributor 3The Chancellor is also expected to freeze the £50k threshold for higher rate of income taxCredit: Getty Images - Getty Those who go over face a 25 per cent tax on any extra savings which rises to 55 per cent if they draw a lump sum. Instead of the threshold rising with inflation by almost £90,000 over the course of the parliament the figure would be frozen at just over £1million. It would mean around 10,000 people would end up paying...
    A GROUP of 68 Tory MPs have broken cover to demand Rishi Sunak slash beer duty at next week’s Budget. They say pubs are already on their knees and the Chancellor should throw them a lifeline to save the local boozer. ???? Read our coronavirus live blog for the latest news & updates... 5Tory MPs are urging Rishi Sunak to slash beer duty in next week's BudgetCredit: PA:Press Association 5Currently, £1 in every £3 spent in a pub goes to the taxmanCredit: AFP or licensors Meanwhile, telly star Kate Thornton has blasted the ‘sexist’ higher booze duty on wine and urged the Chancellor to act. The Sun understands that the Treasury boss is currently weighing up whether to cut or freeze the cocktail of alcohol duties when he unveils his economic blueprint. Tory MP Richard Holden begged the Chancellor to give Brits something to toast after a tough year in lockdown. He...
    NHS staff fighting Covid on the frontline are reportedly set to miss out on pay rises when Rishi Sunak reveals his Budget next week. The Chancellor will not make a decision on salaries for health workers after after he receives a report from the NHS Pay Review Body in May, the i reported. 2NHS staff fighting Covid on the frontline are reportedly set to miss out on pay rises in the Budget (stock image)Credit: AFP and licensors 2Rishi Sunak will unveil the Budget next weekCredit: Reuters Union bosses said it could take months for decisions on pay rises to be made. Unison head of health Sara Gorton said: "The Government has had ample opportunity to line up the early and significant pay rise that hard-working, exhausted health staff deserve. “Money must be found to deliver it in the Budget on Wednesday. This can’t be allowed to drag on endlessly into...
    A FUEL duty hike would hammer drivers whose vehicles are “critical” to them in the pandemic, Chancellor Rishi Sunak was warned yesterday. Many drivers are nervous of returning to public transport because of Covid. ???? Read our coronavirus live blog for the latest news & updates... 2Rishi Sunak has been warned a fuel duty hike would hit motorists whose vehicles are 'critical' to them during CovidCredit: Reuters Britain’s White Van Man legion and car users told campaigners FairFuelUK that big firms and tech giants should be hit at next week’s Budget. Amid a growing rebellion, Boris Johnson yesterday warned any Tory voting against the Budget risked being booted out of the party. But ex-Cabinet Minister David Davis hit back, saying: “I’m afraid if the tax burden is increasing, they’re going to have a very hard job persuading me.” He told Times Radio: “If they want to lose all the northern constituencies,...
    RISHI Sunak has been urged to give Brits free high street vouchers in next week's budget as part of a 'Shop Out to Help Out' scheme. Influential think-tank The Resolution Foundation says the Chancellor must pump £30billion into business bailouts, furlough and a Shop Out to Help Out voucher scheme to aid the high street. 2Chancellor Rishi Sunak could launch 'Shop Out to Help Out'Credit: Getty Images - Getty 2It is claimed that the Chancellor risks choking off any bounce back unless he echoes President Joe Biden’s mega rescue packageCredit: AP:Associated Press The Chancellor is set to unveil a string of dramatic policies in a bid to get Britain's economy growing again. Treasury sources last night pointed out that the Government has already spent hundreds of billions of pounds on business Covid bailouts. It is not expected that any consumer voucher scheme would be announced while most shops and...
    RISHI Sunak must go on a £100billion Joe Biden-style spree in next week’s Budget to boost the economy, a think tank says. He needs to pump £30billion into business bailouts, furlough and a Shop Out to Help Out voucher scheme to aid the high street, says the Resolution Foundation. 2Chancellor Rishi Sunak must go on a £100billion Joe Biden-style spree in next week’s Budget, a think tank saysCredit: Getty Images - Getty 2It is claimed that the Chancellor risks choking off any bounce back unless he echoes President Joe Biden’s mega rescue packageCredit: AP:Associated Press The Chancellor risks choking off any bounce back unless he echoes the US President’s mega rescue package, it adds. Research director James Smith said a £70billion stimulus plan was needed following the biggest downturn in 300 years. He added Mr Sunak should not be talking of withdrawing support. Mr Smith said: “The Chancellor is approaching...
    RISHI Sunak’s Budget next week will be an expensive and painful sandwich of giveaways and tax hikes. Insiders are calling it “two big slices of bread with very thin jam”. ???? Read our coronavirus live blog for the latest news & updates... 5Rishi Sunak will announce his Budget next weekCredit: Reuters 5Insiders are calling it 'two big slices of bread with very thin jam' Slice one is a £30billion Covid support bundle that will see furlough, business relief, the Universal Credit uplift and stamp duty holiday all extended to June. Doing this for three months more, to bring those measures in line with the Government’s programme for coming out of lockdown, leaves “thin jam” — or little to spend elsewhere. Slice two is a painful package of tax hikes to start raising billions to...
    RISHI Sunak could slash tax on pints in next week's budget, Boris Johnson hinted yesterday. The PM was urged by MPs to consider giving pubs a boost by slicing their tax and slapping them on supermarket drinks instead. 2Rishi Sunak may slash the tax on pub pints in next week’s Budget, Boris Johnson hintedCredit: Getty Images - Getty Brits have flocked to supermarket giants to get their hands on booze throughout the pandemic, but boozers have been closed for several months. The Treasury undertook a review on alcohol duty last year, and is mulling over the findings. Changes to alcohol duty could boost pub sales by 100 million pints a year and stop thousands of pubs closing their doors for good this year, the Social Market Foundation said last week. They urged him to add 14p to a supermarket can and slash 36p off the price of a pint down...
    RISHI Sunak is preparing to extend the stamp duty holiday by three months until the end of June. The Chancellor is set to delay the cut off point for buyers to save thousands on purchasing homes with the move. 2Rishi Sunak is preparing to extend the stamp duty holiday by three months until the end of JuneCredit: Getty Images - Getty The Treasury announced last year that it would temporarily raise the stamp duty threshold from £125,000 to £500,000 for property sales in England and Northern Ireland. But many people have been left scrambling to complete their transactions before the deadline of March 31, worried that if they do not, they could be left with a £15,000 tax bill. The deadline will now likely roll on until the summer. The Times reported that Mr Sunak - who has been urged not to end the stamp duty holiday - will use...
    MORE than two dozen Tory MPs have written to Rishi Sunak urging him not to raise fuel tax in his Budget. They say Boris Johnson made a pledge in 2019 not to increase the hated levy and breaking the vow would betray voters. 2The letter shows Downing Street faces a major rebellion on Mr Sunak’s Budget if drivers are targetedCredit: PA:Press Association The 26 Conservatives - including former ministers Tracey Crouch, Esther McVey, David Davis and Iain Duncan Smith said Brits pay more at the pumps than anywhere in the EU. The 58p-a-litre levy is in the Chancellor’s sights - with as much as a 5p rise being considered - to help plug the Covid black-hole next week. But the letter shows Downing Street faces a major rebellion on Mr Sunak’s Budget if drivers are targeted. The warning shot was organised by Rob Halfon MP and Howard Cox, of Fair...
    RISHI SUNAK is set to extend furlough until at least July, The Sun can reveal. The Chancellor will cough up mega bucks at next week’s Budget to throw a lifeline to workers whose businesses are forced to stay closed. ???? Read our coronavirus live blog for the latest news & updates... 2Rishi Sunak is set to extend furlough until at least July, as businesses remain shutCredit: PA:Press Association Boris Johnson has today vowed to do whatever is necessary to make sure Brits are kept away from the dole queue. Announcing his roadmap to free England from lockdown, he said: “We will not pull the rug. “For the duration of the pandemic the government will continue to do whatever it takes to protect jobs and livelihoods.” Senior Government insiders told The Sun that coronavirus business bailouts will continue into the summer. A source said: “Obviously Rishi will be making a big announcement about this next week....
    (Adds quotes, details of ‘recovery bond’) By William James LONDON, Feb 18 (Reuters) – The British state must take abigger role in supporting businesses and the public, just as itdid in the aftermath of World War Two, Labour Party leader KeirStarmer said on Thursday. Starmer, who took over as leader of the main oppositionparty to Prime Minister Boris Johnson’s Conservatives in 2020,set out his alternative vision for the country’s post-Brexit andpost-COVID future. “I believe there’s a mood in the air which we don’t detectoften in Britain. It was there in 1945 after the sacrifice ofwar, and it’s there again now,” he said. “It’s the determinationthat our collective sacrifice must lead to a better future.” He proposed the creation of a “recovery bond” to allow thepublic to put their household savings into directly fundingprojects via the state-run National Infrastructure Bank. His speech came amid criticism from some quarters that hisleadership has...
    HIKING fuel duty would be a hammer blow to “not just motorists but their families” a Treasury minister once declared. As Chancellor Rishi Sunak eyes the first rise in a decade of the hated levy at next month’s Budget, The Sun can reveal his closest lieutenants used to be the most vocal critics of the tax. UK Parliament 3 Kemi Badenoch said in 2018 that ‘continuing the freeze will help keep bills and the overall cost of living low’ Alamy 3 Jesse Norman said rises in fuel duty would have a direct impact on the well-being of his constituents Exchequer Secretary to the Treasury Kemi Badenoch said in 2018 that “continuing the freeze will help keep bills and the overall cost of living low.” While a backbencher, Ms Badenoch also signed a letter organised by Fair Fuel UK urging the Treasury not to unfreeze fuel duty as part...
    RISHI Sunak wants to coax bosses into a hiring spree with his Budget next month. He is considering cutting the jobs tax and bringing back a £1,000 bonus for those that unfurlough staff. ???? Read our coronavirus live blog for the latest news & updates 1Chancellor Rishi Sunak wants to encourage bosses into a hiring spree with next month's BudgetCredit: Reuters The Chancellor hopes he can wean employers off state support as shops, pubs and other businesses gradually reopen. A source said: “The Treasury is keen to support jobs rather than businesses.” One idea being looked at for the March 3 Budget is cutting the national insurance contributions employers pay for staff. Businesses have long warned that the punishing jobs tax puts them off hiring. Another idea being considered is bringing back the £1,000 bung to bosses for every worker they bring back from furlough. The job retention bonus scheme...
    The British government must avoid abruptly withdrawing measures to support the economy once restrictions are relaxed in the face of the pandemic and before considering any tax hike to reduce the huge deficit, the IFS research center said on Tuesday. The Institute for Fiscal Studies (IFS), much listened to on public finance issues, unveils in a press release a series of recommendations for Finance Minister Rishi Sunak before the budget presentation on March 3. Since taking office just a year ago, this will be the second budget for the minister but the 15th time he will make announcements, a sign of the challenge of responding to the health crisis. Extended support to households and employers The next budget must “understand targeted extensions of support to households and employers over the coming months“and “establish a plan for their withdrawal” progressive, according to the IFS. He mentions for example the extension...
    RISHI Sunak risks killing off Britain’s Covid recovery if he raises taxes too fast, a think tank warns. The Chancellor is also advised to extend bailout schemes in his Budget — but not for too long. ???? Read our coronavirus live blog for the latest news & updates PA:Press Association 3 Rishi Sunak risks killing off Britain’s Covid recovery if he raises taxes too fast, a think tank has warned The silver-lining to the lockdowns is that Brits are sitting on £125billion in savings, the respected Institute for Fiscal Studies added. And if families spend this cash, they will help the country claw out of recession. The IFS said “sizeable tax rises” are looming as the Treasury has to beef up public spending to start balancing the books. But they told Mr Sunak “substantial tax rises should not be part of the Budget”. IFS’s Paul Johnson said: “He must...
    A BUDGET rise in fuel duty would be a hammer blow to the North, Rishi Sunak has been warned. Drivers outside the South East spend a third more of their incomes on fuel, campaigners say. 1Rishi Sunak is warned to hike the fuel dutyCredit: Reuters And if the Chancellor raises the hated 57.95p a litre tax on fuel, it will hit new Tory voters in the former Red Wall areas the hardest, their data shows. Campaigning Tory MP Robert Halfon said: “Coronavirus has hurt the low-paid and increased the cost of living. “A fuel duty increase would be a hammer blow to workers and our public services.” Analysis by CEBR for FairFuelUK reveals motorists in London and the Home Counties spend between 2.2 per cent and 3.5 per cent of their household income filling up. But that figure is 4.5 per cent in the North East — and even more...
    BRITS are set to be walloped with tax rises to pay for the Covid-shaped hole in the accounts, a top economist warned last night. Paul Johnson, head of the Institute for Fiscal Studies, said the economy will be smaller for years to come but public spending will carry on growing. ???? Read our coronavirus live blog for the latest news & updates 3Mr Sunak is expected to raise Corporation tax in next month’s BudgetCredit: Reuters He said Chancellor Rishi Sunak will have to whack up taxes to plug the shortfall and pay for the ballooning health and social care budgets. But Mr Johnson said he does not expect big tax rises in next month’s Budget, but later in the year. He told the Treasury Committee: “I think it is pretty unlikely that taxes won’t rise as a fraction of national income. “There are three reasons for that. One is...
    RED WALL Tory MPs have accused the Treasury of trying to “bully” them into accepting a rise in fuel duty. The new MPs - mainly across the North - have been told they need to “stick together” and that “things are going to change” in the Budget next month. 4The Chancellor has previously spoken about a fuel duty hike of 5p per litreCredit: Getty 4Rishi Sunak has been accused of trying to 'bully' Tory MPs into accepting the riseCredit: Reuters Chancellor Rishi Sunak has held meetings with around 100 MPs to warn of stringent measures next month. One MP said: “He’s been saying in meetings, ‘times are going to be tough, things are going to change, but we need unity, and we’ll be better off together’.” When MPs quiz him about a backlash from voters, they’re told: “Stick in there and we will look after you.” One MP said: ”We...
    Britain’s Chancellor of the Exchequer Rishi Sunak – REUTERS Rishi Sunak has told Tory MPs that implementing tax rises soon will hand the Government greater leverage to slash them ahead of the next election in 2024. The Chancellor made his pre-budget appearance at the powerful 1922 committee of backbench Conservatives on Wednesday evening to take soundings before the fiscal event on March 3. He told MPs that honesty and fairness were his guiding principles, as he signalled that difficult decisions lie ahead on raising revenue and reducing the deficit, according to several sources present on the call. Laying the groundwork for potential tax rises in the coming budget and the next one, Mr Sunak argued that the public would respect candour about what is to come. Such moves will also burnish the Conservatives’ reputation for responsible management of the public finances, and are essential to differentiate the party from...
    RISHI Sunak is laying the ground for tax rises in March after warning Tory MPs it's time to wean the country off the "magic money tree". The Chancellor is preparing to hike levies on businesses to raise up to an extra £14bn to repair Britain's battered public finances. ???? Read our coronavirus live blog for the latest news & updates 1The Chancellor is considering tax rises in the March budgetto plug the Covid blackholeCredit: Simon Walker HM Treasury His planned move comes after new figures showed UK borrowing hit its highest December level on record last month. Mr Sunak said today: "Since the start of the pandemic we've invested over £280 billion to protect jobs and livelihoods across the UK and support our economy and public services. "This has clearly been the fiscally responsible thing to do. But as I've said before, once our economy begins to recover, we...
    MILLIONS Brits will be forced to wait more than six weeks to find out if they will lose the £20-per-week boost to their benefits in April. Government sources said Rishi Sunak will hold off on announcing the decision on whether to extend the £1,040 a year benefits uplift until the Budget on March 3. 1Rishi Sunak will wait until the March Budget to decide on keeping the £20 week Universal Credit upliftCredit: EPA The decision will be among a range of key decisions on Covid spending to be addressed at the Budget. In a sign the uplift will be scrapped, Treasury insiders have highlighted the cost of keeping in place for another year would be the equivalent of adding an extra 1p on income tax for all Brits. The decision to increase weekly Universal Credit payments by £20 for the current year has cost taxpayers around £6 billion. But the...
    RISHI Sunak has been urged to extend the furlough scheme before the March budget to stop millions more job losses. The Confederation of British Industry (CBI) has issued a fresh plea to the Chancellor to keep the job retention scheme in place until June. ⚠️ Read our coronavirus live blog for the latest news & updates 2Rishi Sunak has been urged to extend furlough before his March budgetCredit: Simon Walker HM Treasury Mr Sunak is set to lay out his budget on March 3, but the economists have said he can't wait until then to extend support for workers and businesses. The CBI, which represents 190,000 firms in the UK, has also demanded business rates relief schemes should be kept in place for businesses which can't trade. It comes amid fears the lockdown could stretch past Easter, after Northern Ireland Secretary Brandon Lewis warned it was...
    National Review Seattle to Slash Police Budget as Homicides Hit Highest Level in over a Decade Seattles is preparing to slash the city’s police budget just as homicides in the city climb to their highest level in more than a decade.Seattle Mayor Jenny Durkan is set to sign a city budget that includes an 18 percent cut to the Seattle Police Department, a move that comes after police reform activists demanded the police budget be reduced by half. Calls for police reform have abounded in cities across the country since May, when George Floyd died at the hands of police in Minneapolis.The city council voted last week to slash about $69 million in funding for officer training, salaries and overtime, and get rid of vacant positions in the police department as well as transfer parking officers, mental health workers, and 911 dispatchers out of the department. The goal is to ultimately reinvest...
    RISHI Sunak’s latest rescue is a staggering £30billion package of giveaways which will go down a treat with Sun readers. A six-month 15 per cent cut in VAT on food from restaurants and takeaways, on hotels and caravan sites, on theme parks and cinemas. 3Rishi Sunak's £30billion spree to rescue the economy will go down a treat with Sun readersCredit: EPA 3The Chancellor unveiled a £500 million meal deal scheme to get Brits back into restaurantsCredit: Simon Walker HM Treasury Even more incredibly, Eat Out to Help Out vouchers for half-price restaurant meals in August. These aren’t just good news for families’ finances, and employees who need their firms to stay afloat. They are an attempt to encourage Britain to venture back out, to convince a public still alarmingly content to hide at home from even the tiniest risk of Covid. We desperately hope the Chancellor succeeds, though discount dinners...
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