Britain faces another tax hike due to a £4billion black hole in Rishi Sunak’s Budget spending plans, an influential think tank warned today. The Institute for Fiscal Studies said the shortfall for the 2022−23 financial year went ‘entirely unmentioned’ in the Chancellor’s speech to the Commons on March 3. If the spending plan is followed … Read more
US economy set to roar back to life this year, declares Federal Reserve… but central bank chief insists that interest rates will not rise until 2024 By Mark Shapland For The Daily Mail Published: 22:00 GMT, 17 March 2021 | Updated: 22:33 GMT, 17 March 2021 The US economy is set to roar back to … Read more
BOOK OF THE WEEK LIFE AFTER GRAVITY: ISAAC NEWTON’S LONDON CAREER by Patricia Fara (OUP £25, 288pp) So who exactly was Sir Isaac Newton? Legend has it that he invented the catflap, although this is much argued over by historians. In his year as an MP, he spoke only once in the House of Commons, … Read more
Greensill collapse sends shockwaves through the economy: 3,000 steel jobs at risk as Gupta defaults and is left facing a funding crisis By Lucy White For The Daily Mail Published: 22:15 GMT, 8 March 2021 | Updated: 22:15 GMT, 8 March 2021 A specialist lender advised by David Cameron has crashed into administration. Lawyers for … Read more
Budget 2021 at a glance Here are the main points of Rishi Sunak’s Budget today: Office for Budget Responsibility (OBR) predicts economy will return to pre-Covid levels by the middle of 2022, six months earlier than previously though. OBR forecast economy will grow this year by 4 per cent, by 7.3 per cent in 2022, … Read more
Rishi Sunak will vow unleash his ‘fiscal firepower’ to rescue Britain’s coronavirus-ravaged economy when he delivers his Budget tomorrow. The Chancellor is set to launch a three-pronged economic plan to breathe new life into UK plc after one of the most disastrous years in history. But his bid to protect jobs and livelihoods while putting … Read more
China created more than 200 billionaires last year as a booming stock market and a slew of new company listings offset the damage caused by the Covid pandemic. The Hurun Global Rich List showed that 259 Chinese broke into the billion-dollar club in 2020, more than the rest of the world combined and taking the … Read more
The economy has endured its worst peacetime shock in living memory. And almost a year on from the first lockdown, Chancellor Rishi Sunak will tomorrow unveil a Budget that attempts to wean the country off emergency support measures and set a course towards recovery. He will also want to reassure voters – and financial markets … Read more
Builders claim cutting VAT on home repairs could give economy a £51bn boost By Daily Mail City & Finance Reporter Published: 21:52 GMT, 28 February 2021 | Updated: 21:52 GMT, 28 February 2021 Cutting VAT on home repairs could give the economy a £51billion boost, builders have claimed. The Federation of Master Builders (FMB) and … Read more
Boris Johnson has been warned that failing to reopen international travel for the summer would blow an £18billion hole in the economy. The prime minister has been facing growing pressure to include international travel in his roadmap for easing lockdown, due to be published today, Monday. On Thursday, the bosses of some of Britain’s biggest … Read more