Kwasi Kwarteng
This coverage examines Kwasi Kwartengโs influence on UK retail policy during his tenure as Chancellor of the Exchequer and Secretary of State for Business, Energy and Industrial Strategy. It provides insights for retail professionals into his economic strategies, including the 2022 mini-budget that introduced significant tax cuts and the reinstatement of tax-free shopping for overseas visitors. Reporting also addresses industry responses to his policies, such as concerns over the lack of business rates reform and the impact on consumer confidence, offering context for strategic decision-making in the retail sector.
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Oct- 2022 -24 OctoberGovernment
Rishi Sunak to become next PM
Rishi Sunak is set to become the next leader of the Conservative party and the UK prime minister after becoming the sole candidate to surpass the threshold of 100 votes. Penny Mordaunt announced she was withdrawing from the race only minutes before the nominations deadline at 14:00 BST today (24…
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20 OctoberGovernment
Liz Truss steps down as prime minister
Liz Truss has announced that she is standing as prime minister after a turbulent week for the government, just six weeks after taking up the premiership. The statement of her resignation was made at 13:30pm today (20 October) following a meeting between Truss and Sir Graham Brady, chairman of the…
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17 OctoberEconomy
Chancellor reverses almost all mini-budget tax cuts
Newly appointed chancellor Jeremy Hunt has reversed almost all of the mini-budget commitments made by previous chancellor Kwasi Kwarteng last month, in a statement made at the Treasury today (17 October). He confirmed the basic rate of income tax will remain at 20% โindefinitelyโ until the economic situation stabilises, marking…
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Sep- 2022 -26 SeptemberEconomy
Pound plunges to historic low
The pound has plummeted to an all-time low against the dollar following the sweeping tax cuts announced by chancellor Kwasi Kwarteng in last weekโs mini-budget.ย At one point the pound plunged by nearly 5% to stand at $1.0327, its lowest point since Britain went decimal in 1971. It later recovered…
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23 SeptemberEconomy
Chancellor announces sweeping tax cuts in first mini-budget
Chancellor Kwasi Kwarteng has today (23 September) announced a ream of tax cuts alongside a ยฃ60bn energy support package as part of the new governmentโs first mini-budget. Setting out his aims for economic growth, Kwarteng said that he wants the economy to increase by 2.5% annually in the medium-term, through…
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21 SeptemberGovernment
Business energy bills to be capped under new gov scheme
The government has unveiled a new plan that is set to cap wholesale energy bills for businesses for an initial six-month period from 1 October.ย The Government Energy Bill Relief Scheme, unveiled today (21 September) by business secretary Jacob Rees-Mogg, will reportedly bring support for households, businesses and public sector…
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Feb- 2022 -2 FebruaryOnline & Digital
Amazon to create 1,500 UK apprenticeships in 2022
Amazon is set to create 1,500 new apprenticeship roles across the UK in 2022.ย The online giant will create 40 apprenticeship schemes that include areas such as publishing, retailing, marketing, environmental, social and corporate governance, engineering and health and safety.ย The schemes will also include more than 200 apprenticeships which…
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Jul- 2021 -22 JulyCoronavirus
Gov to announce list of workers exempt from isolation
Business secretary Kwasi Kwarteng has revealed that the government is set to announce the list of Uk workers who will be exempt from self-isolation rules later today (22 July). Kwarteng revealed the news while speaking to the BBCโs Radio 4 Today programme. Staff that work in the key sectors that…
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9 JulySupermarkets
Morrisons CEO to discuss takeover with business secretary
The CEO of Morrisons is to meet with business secretary Kwasi Kwarteng next week to discuss the potential takeover of the business by a consortium led by an US investment firm. According to The Times, Kwarteng has asked CEO David Potts to explain the reasoning behind the companyโs decision to…
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May- 2021 -17 MayOnline & Digital
Amazon to create more than 10,000 new jobs
Amazon has announced that it will create more than 10,000 new permanent jobs in 2021, taking its total UK workforce to more than 55,000 people by the end of year. The online retailer revealed that it will also invest ยฃ10m over the space of three years to train up to…
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