Chancellor

Usdaw urges chancellor to announce retail recovery plan

Retail trade union Usdaw is calling on the chancellor to announce in Wednesday’s (8 June) economic statement an “urgent recovery plan” for the “struggling retail industry”, which is developed with trade unions and retail employers. Some of the factors, Usdaw is urging the government to cover fundamental business rates, an…

Read More »

Government confirms changes to ‘flexible’ furlough scheme

The UK government has confirmed the latest set of changes to its “flexible” furlough scheme – dubbed CJRS V2 – ahead of its launch of the 1 July. HM Revenue and Customs has set out the new guidance as the current version of the Coronavirus Job retention Scheme (CJRS) ends…

Read More »

Chancellor mulls VAT cut and could follow up with autumn tax rises

Chancellor Rishi Sunak is reportedly considering cutting VAT in order to help stimulate the economy but could follow the move up with a set of Autumn tax rises.  According to the Financial Times, Sunak is planning deferred tax rises and cuts to public spending in his autumn Budget as a follow up to further stimulus…

Read More »

Majority of SMEs believe UK is headed for deep recession post-pandemic

Almost seven in 10 (69%) small business owners believe the UK is heading for a deep recession following the coronavirus pandemic and resulting lockdown, according to new research from FreeAgent. In addition, almost three quarters (73%) believe many small businesses will struggle to make enough money to survive and two…

Read More »

Government-backed loans to UK businesses reveals horrible truth

Due to the rapid spread of Coronavirus Disease (COVID-19) and the toll that it took, the world has been pushed towards fear—halting life as we know it entirely. The blow on the economy was felt all across the world, with governments all over rushing to stem the pandemic to urge…

Read More »

Co-op expands robot service in Milton Keynes

The Co-operative has expanded its same-day autonomous robot deliveries in the UK across Milton Keynes and surrounding towns and villages amid the Covid-19 pandemic. The convenience retailer became the first to trial same-day autonomous robot deliveries in the UK when it teamed-up with Starship Technologies in April 2018 to offer…

Read More »

Chancellor extends furlough scheme until October

Chancellor of the Exchequer Rishi Sunak has extended the Government’s furlough scheme until the end of October. Announcing the decision in the house of commons today (12 May) Sunak revealed that “no changes whatsoever” will be made to the current scheme until the end of July. However he noted that…

Read More »

Chancellor expected to extend furlough scheme to September

Chancellor of the Exchequer Rishi Sunak is expected to extend the Government’s coronavirus furlough scheme to September, but reduce the amount people can claim to 60% of their earnings. According to Sky News, the move aims to prevent some 1.2 million redundancies, and comes after Sunak promised there would not…

Read More »

Chancellor promises no ‘cliff-edge’ end to furlough scheme

Chancellor Rishi Sunak has promised there will not be a “cliff-edge” end to the Government’s  furlough scheme.  Speaking to ITV News, Sunak attempted to reassure a number of business groups who warned of the potential of mass redundancies if the scheme was to suddenly end and not be extended in…

Read More »

Job support to be wound down, M&S dividend suspended, ventilator production slows, property market halts

Chancellor Rishi Sunack says he will wean the economy off his support schemes in a “gradual” wind-down, to help prevent soaring unemployment on ‘expiration day’. His announcement, made to MPs, came in response to concerns that a definite cut-off date would produce an explosion in redundancies and layoffs. Currently, the…

Read More »