Budget 2021: Pubs, restaurants and retailers toast Sunak’s announcement but warn of gaps in support March 3, 2021 The hospitality and retail sectors have welcomed the Chancellor’s extended support for pubs, restaurants, shops and salons, but said more could be done to encourage consumers back to the high street after lockdown. Rishi Sunak this afternoon announced measures including a business rates holiday extension, new “restart” grants, a VAT cut extension and a beer [...]
Budget 2021: As it happened March 3, 2021 Live updates and links to all our coverage, reactions and analyses as the Chancellor of the Exchequer delivers the government’s Budget later today – at 12.30pm. Please also visit our dedicated Budget 2021 Hub. Wrap-up of the main Budget announcements Here’s a wrap-up of the main announcements made by the chancellor in his spring Budget: [...]
Budget 2021: UK tech sector ‘delighted’ with spending plans March 3, 2021 The UK’s thriving tech sector has hailed Rishi Sunak’s spending plans in the Budget today, saying the chancellor was “backing tech in a big way”. Announcing the Budget this afternoon, Sunak unveiled a raft of new measures aimed at boosting both startups and established tech firms. “This government should be applauded for committing heavily to [...]
Budget 2021: Pensions lifetime allowance frozen for five years March 3, 2021 The pensions lifetime allowance will be frozen at its existing level until April 2026, in a move that effectively decreases its value when inflation is taken into account. The Chancellor today said the lifetime allowance would remain at its current £1,073,100 for the next five years, rather than increasing in line with inflation. The move [...]
FTSE 100 pares gains as investors split on Sunak’s Budget March 3, 2021 The FTSE 100 pared some of its gains after today’s Budget, as investors reacted to a combination of further business support and future tax hikes. Having been up 1.2 per cent by the mid-morning, London’s blue chip bourse fell back to 6,639 points, up 0.4 per cent. Read more: Budget 2021: Live news and updates [...]
Stamp duty holiday: Property industry welcomes extension but calls for long-term reform March 3, 2021 Developers and property industry experts have welcomed the Chancellor’s extension of the stamp duty holiday but urged the government to fully reform the tax in the future. Rishi Sunak this afternoon confirmed that the higher stamp duty threshold of £500,000 will remain in place until 30 June – an extension of the original 30 March [...]
Budget 2021: Bank surcharge to be reviewed in light of corporate tax hike March 3, 2021 The surcharge levied on bank profits will come under review later in the year, in light of planned changes to corporation tax. Chancellor Rishi Sunak today said the additional bank surcharge of eight per cent on profits would be reviewed because the increase in the main corporate tax to 25 per cent would make UK [...]
Budget 2021: Thames Estuary one of eight new freeports March 3, 2021 The Chancellor has today used the Budget to announce the locations of England’s eight new “freeports”, including one on the Thames Estuary. The new economic zones, which offer tax advantages and customs relief to businesses, will provide an “unprecedented economic boost across the UK”, Rishi Sunak said. In addition to the Thames port, the other [...]
Spac revolution set to unlock Big Bang 2.0 for the City of London March 3, 2021 The UK is set to spark a second Big Bang for the City post-Brexit, with a landmark government report calling for regulators to allow Spacs to list in London and ease a range of share listing restrictions. Lord Jonathan Hill’s report into future financial services regulation, released today, calls for a range of deregulatory measures [...]
Budget 2021: Fuel duty freeze to continue for another year March 3, 2021 Chancellor Rishi Sunak has extended the freeze on fuel duty for another year, he announced at this afternoon’s Budget. It is the 11th straight year in which taxes on fuels have stayed the same price – 57.95p a litre. Motorists had feared that the decade-long freeze, which dates back to the days of the coalition [...]