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Rishi Sunak

UK offers tax relief to more companies with 1.5bn-pound plan
World

UK offers tax relief to more companies with 1.5bn-pound plan

  • The move comes on top of the 16 billion pounds in business rates relief already paid to or earmarked for retail, hospitality and leisure businesses.
  • By providing more targeted support than the business rates appeals system, our approach will help protect and support jobs in businesses across the country.
Updated 25 Mar, 2021 07:31pm
UK's Sunak says he does not favour a debt-to-GDP target
World

UK's Sunak says he does not favour a debt-to-GDP target

  • "It's probably right to think more about trajectories of debt levels, building resilience for future shocks and the affordability of that debt," Sunak told parliament's Treasury Committee.
  • Sunak's budget plan included no new budget rules which previous governments have set to show investors how they plan to bring down debt.
Updated 11 Mar, 2021 10:04pm
UK shares up ahead of budget
Markets

UK shares up ahead of budget

LONDON: British shares rose on Wednesday, buoyed by gains in commodity and banking stocks, while investors awaited...
Published 04 Mar, 2021 04:58am
European stocks rally
Markets

European stocks rally

MILAN/LONDON: European stocks rose for a third straight session on Wednesday on hopes of a rebound in economic ...
Published 04 Mar, 2021 04:58am
Britain to review surcharge on bank profits
World

Britain to review surcharge on bank profits

  • Leaving surcharge unchanged would damage industry – government.
  • Surcharge raised 1.5 bln stg in 2019-20 fiscal year.
  • Proposed changes will be laid out in the autumn.
Updated 03 Mar, 2021 08:43pm
Moody's sees no fast improvement to UK budget position
World

Moody's sees no fast improvement to UK budget position

  • "As expected at this stage of the crisis, the budget statement provides only limited visibility on the government's medium-term fiscal strategy," Moody's lead sovereign analyst for the UK, Evan Wohlmann, said.
  • "That said, the statement confirms our view that the broad deterioration in the UK's fiscal position stemming from the pandemic will not be rapidly reversed," he added.
Published 03 Mar, 2021 07:38pm
Tax hikes blur UK's Sunak ‘whatever it takes’ budget
World

Tax hikes blur UK's Sunak ‘whatever it takes’ budget

  • The corporate tax increase in 2023 will derail some of those expectations. The UK economy is expected to have explosive growth in 2022, but then quickly return to trend in 2023 at 1.7%, which is when the economy will face higher taxes."
  • "The positive impact the spending pledges has on growth has been somewhat offset by concerns of fiscal consolidation later down the line.
Published 03 Mar, 2021 07:34pm
Sunak to give UK Infrastructure Bank 12bn stg of capital in budget
World

Sunak to give UK Infrastructure Bank 12bn stg of capital in budget

  • It said this will help the bank, which will launch in the spring and operate UK-wide, unlock billions in private finance to support 40 billion pounds of infrastructure investment.
  • "We are backing this bank with the finance it needs to deliver modern infrastructure fit for the 21st century and create jobs," said Sunak.
Updated 27 Feb, 2021 09:10pm