US drops tariffs on whisky, cashmere and Stilton as trade deal with Britain inches closer – two months after Liz Truss axed fees on American imports US said millions worth of tariffs on Scotch and other goods would be suspended Cashmere and cheese are also set to benefit from the American relaxation Comes a month … Read more
Rishi Sunak’s ‘super deduction’ could let Amazon wipe out its bill: Online giant’s corporation tax could be cut to zero, campaigners warn The online retail giant’s British sales soared 51 per cent to £19.4billion last year Its warehousing arm paid £6.3mil in tax in 2019 despite raking in £3bn in sales But campaign groups say … Read more
The five-year freeze on income tax in yesterday’s Budget has been blasted as a ‘stealth and wealth tax’ which will drag 2.3 million workers into higher tax brackets. Rishi Sunak’s decision not to raise income tax and National Insurance thresholds will amount to a pay cut in real terms for millions of hard-working, middle-class families. … Read more
The number of sick days taken by Britons fell to a record low last year, as millions were asked to work from home during the pandemic. Office for National Statistics (ONS) figures estimated sickness absence – the number of working hours lost due to illness or injury – hit 1.8 per cent in 2020, the … Read more
Budget 2021 at a glance Here are the main points of Rishi Sunak’s Budget: Office for Budget Responsibility (OBR) predicts economy will return to pre-Covid levels by the middle of 2022, six months earlier than previously thought. OBR forecast economy will grow this year by 4 per cent, by 7.3 per cent in 2022, then … Read more
Rishi Sunak unveiled a raft of measures aimed at helping small businesses today. The Chancellor targeted high street firms with a business rate holiday extension until June, followed by a two-thirds reduced rate for the rest of the financial year. He also confirmed a freeze of VAT at 5 per cent for hospitality firms until … Read more
Rishi Sunak today unveiled the eight sites for the first freeports to be created in England. The Chancellor used the Budget to confirm the locations of the ‘special economic zones’ that were first announced in the Tories’ 2019 election manifesto. East Midlands Airport, the Suffolk ports of Felixstowe and Harwich, the Humber region in Yorkshire, … Read more
Fears of lockdown THREE as Rishi extends furlough AGAIN: Workers will carry on getting 80% of wages until end of September – with businesses expected to contribute from July – and self-employed grants will continue Chancellor Rishi Sunak today confirmed that furlough will continue to October Scheme will not change for employees but employers will … Read more
Cheers to that! Rishi Sunak freezes booze tax for a second year in a row in a boost for Covid-weary Brits and also keeps fuel duty frozen for the tenth successive year Increases in duty on beer, cider, wine and spirits axed for second year in a row Tax on a tankful of fuel will … Read more
London markets cheer on Chancellor’s budget: FTSE rises 0.8% or 53 to 6,667 points as Rishi Sunak unveils more big spending to boost Covid-hit economy FTSE 100 index of UK’s leading companies up 0.8% or 53 points at 6,667 today However it had been up further in early trading in London at 6,703 this morning … Read more