Sunak’s fiscal dilemma

By Gareth Jones The Budget is just under six weeks away. It is unclear how the country will be emerging from current lockdown restrictions by that point, but nevertheless, as we head towards 3rd March, the Treasury and Number 10 will be facing a series of very tough decisions about public spending.  The economic package that…

“Not anotheeeer one?” Rishi Sunak’s latest financial statement

By Tim Le Couilliard, Public Affairs When choosing the topic of the blog today, it was a tough one; between the US election, vaccine breakthroughs and yet another financial statement, it had the making to be a monster essay. I choose therefore to focus on the *small* news of the week, the Chancellor’s statement yesterday…

Chancellor unveils Winter Economic Plan – Part 3

By Gareth Jones Today the Chancellor Rishi Sunak announced a revised package of financial support for business and a more generous UK job support scheme for workers. Unveiling the plan at the House Commons this lunchtime, and later in the afternoon during the Downing Street briefing, Sunak acknowledged that with rising cases and new restrictions…

Viable support for viable jobs: why the Chancellor is shifting his stance

By Chris White and Christine Quigley, Newington Public Affairs The Chancellor had a difficult job today – support those affected by the second wave, whilst accepting that the immense burden on the exchequer is simply not sustainable.  He was clear that the Government’s priority is to support “viable jobs that provide genuine security,” accepting that…

Sunak preparing the ground for taxes rises ahead

By Gareth Jones, Newgate Public Affairs The return of Parliament this week has seen the issue of tax appear at the top of the political agenda. To many observers, it is not immediately obvious why this is the case. Firstly, it is not as if the government and politicians are short of other things to…

A humble Chancellor states the obvious

By Simon Gentry, Newgate Public Affairs The woeful economic figures from yesterday and the revelation that the economy shrank a staggering 20.4% between April and June compared with the first three months of the year prompted an unusually humble admission from the Chancellor today. Rishi Sunak admitted what we all know when he said that…

Eat Out to Help Out and Back to Work Monday

By Tim Le Couilliard, Newgate Public Affairs The economy has been a grave concern since the outbreak of Covid-19; even more so since lockdown measures were implemented. We are now beginning to see the unlocking of the UK, and whilst the restrictions were relatively easy to implement in the first place, returning to “normal” is…

Cut your tax bill… take up smoking

By Giles Croot, Managing Partner This week’s GDP figures were a reminder – if we needed one – about the economic mountain that the UK (and much of the rest of the developed world) is facing. A week ago, the Chancellor of the Exchequer unveiled his programme intended to get the nation spending and working…

Sunak’s Summer Economic Statement

Rishi rides to the rescue (Part 2 of 3) Fraser Raleigh writes about the Chancellor’s approach to the ‘mini budget’ The Chancellor, Rishi Sunak, today returned to the Commons to set out part two of his three part series to respond to the evolving challenge of COVID-19: protection, jobs and rebuilding. If part one – protection…

Key measures in today’s Summer Economic Update at a glance

Compiled by Newgate Public Affairs Employment and skills  The Chancellor announced that his plan is designed to support jobs by focussing on skills, create jobs with investment and protect jobs through tax cuts. The key initiatives on supporting jobs are as follows: End of furlough: Confirmation that the furlough scheme will end in October. Job Retention…