All eyes on UK Autumn Budget as Sunak’s government goes Hunt-ing for cash November 17, 2022 Markets’ main focus today will be on Westminster and Chancellor of the Exchequer Jeremy Hunt as he delivers the long-anticipated Autumn Statement. Over the past few weeks, Brits heard an array of estimates of the size of the fiscal black hole at the heart of the public finances, ranging from £40bn to £55bn. “However, this [...]
The taxman cometh: Hunt to deliver toughest Budget in years today November 17, 2022 Jeremy Hunt will launch a vicious round of tax hikes and spending cuts today as he vows to “deliver strong public finances”. The chancellor tonight said “families across Britain make sacrifices every day to live within their means” and that “so too must governments” as he prepared to lay the ground for a second round [...]
Autumn Statement: Jeremy Hunt’s bitter medicine may be too harsh November 16, 2022 The City is not worried about a low-tax mujahideen - but economists are concerned this grim budget could choke off much-needed growth
Hunt to stare down Tory backlash as he hikes taxes across the board November 16, 2022 Jeremy Hunt will have to stare down a potential Tory backbench rebellion as he delivers his tax-hiking fiscal statement tomorrow. The chancellor has warned that the mixture of spending cuts and tax rises is necessary to restore economic credibility, however they may well dent his own credibility in the Tory party. There are already rumblings [...]
Appease the markets and his own party? Jeremy Hunt has a frightful task November 16, 2022 Tomorrow, Jeremy Hunt needs to deliver a plan that both wins the confidence of the city – and the financial markets – and is politically palatable. This comes off the back of a narrative which has converged around terms like “black holes” and “difficult decisions”. The emerging theme is that there is a gap in [...]
Hunt readies for biggest budget since Cameron and Osborne’s first outing November 15, 2022 Thursday’s budget (okay, Autumn Statement) is the biggest since David Cameron and George Osborne’s first statement in 2010, just after they seized the keys to number 10 (with a little help from the Liberal Democrats) from Gordon Brown’s Labour. Chancellor Jeremy Hunt faces a daunting task. Weaker than expected economic growth, high inflation and a [...]
Hunt warns of tax hikes for everyone in fiscal statement November 13, 2022 Jeremy Hunt has warned that tax will rise for everyone in his autumn statement next week, while promising the most vulnerable will be protected. The chancellor said the government “will be asking everyone for sacrifices” but that there is “only so much we can ask” from low income workers. Hunt is expected to raise between [...]
Labour calls for business rates relief in Hunt’s autumn statement November 10, 2022 Labour has called for Jeremy Hunt to provide tax relief for small businesses in his autumn fiscal statement as firms stare down rates hikes in April. Labour deputy leader Angela Rayner told City A.M. today that the chancellor “must” next week axe the planned inflation-linked increase to business rates, while calling for a complete tax [...]
Budget: Millions of Brits to face ‘real pain’ as rising cost of living and taxes will bite October 28, 2021 Rising costs and tax increases will leave tens of millions of Brits worse off, economists said today. Their warning comes as experts are ploughing through yesterday’s Budget. Rishi Sunak had claimed his Budget is a strategy to “usher in a new age of optimism”, but a leading economic think tank warned the public “may not [...]
Second home buyers dodge bullet of stamp duty rise for now October 28, 2021 Chancellor Rishi Sunak may have taken a last minute decision not to increase the stamp duty surcharge paid by landlords and second home buyers. The government had planned to hike the three percentage point surcharge on additional property purchases to four percentage points, first reported by the Daily Telegraph. In the economic and fiscal outlook, [...]