Rishi Sunak
This coverage explores Rishi Sunak’s policies and initiatives that affect the UK retail sector, with a focus on taxation, government support schemes, regulatory reforms, and economic measures. Reporting assesses how Sunak’s decisions influence consumer confidence, business investment, and supply chain dynamics, offering insight for retail executives, financial managers, and industry professionals responding to policy shifts and economic strategy under his government.
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Mar- 2021 -8 MarchHigh Street
February footfall falls by 73.5%
UK retail footfall for February reportedly fell 73.5% year-on-year, the second largest decline seen since May 2020. According to the British Retail Consortium, the drop represented a 3.4% improvement from January’s levels. The data stems from the latest ShopperTrak analysis, which has joined Sensormatic Solutions in turn changing the footfall…
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3 MarchCoronavirus
Budget 2021: Chancellor unveils new £65bn support package
Chancellor Rishi Sunak has outlined a new £65bn support package in his March budget, confirming the decision to extend the furlough scheme until the end of September as well as new loan schemes of up to £10m for businesses. In what is Sunak’s second budget since he joined office in…
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3 MarchGovernment
Sunak to extend furlough scheme until September
Chancellor Rishi Sunak is expected to extend the furlough scheme until September as part of his March Budget which will be announced today (3 March). According to The Times, Sunak will state that the country is in a “moment of crisis” as he extends furlough for another five months, taking…
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1 MarchCoronavirus
Chancellor to unveil £5bn high-street support package
Chancellor Rishi Sunak is expected to offer over 700,000 retail, hospitality and other businesses grants of up to £18,000 as part of a £5bn rescue package to be included in his Budget speech on Wednesday (3 March). The new ‘Restart Grants’ will be directly distributed from local authorities from April…
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Feb- 2021 -24 FebruaryCoronavirus
Chancellor expected to extend furlough until May
Chancellor Rishi Sunak is expected to announce a further extension to the government’s furlough scheme until May in his Budget speech next week. According to The Times, the move is expected after Boris Johnson promised not to “pull the rug out” from businesses when restrictions eventually begin to ease under…
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19 FebruaryGovernment
Sunak to delay review of business rates until autumn
Chancellor Rishi Sunak is set to reveal that he will delay a final report on the review of business rates until later this year. According to The Financial Times, the delay of the report, which was set to consider the introduction of an online sales tax, comes as the chancellor…
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8 February
Sunak mulls ‘Amazon Tax’ to help with UK debts
Chancellor Rishi Sunak is allegedly considering a double tax raid on online retailers such as Amazon who profited during the pandemic. According to The Sunday Times, leaked emails show that Treasury officials have already called for tech firms and retailers to meet this month ahead of the March budget to…
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Jan- 2021 -19 JanuaryGovernment
Sunak looks to raise corporation tax in March budget
Chancellor Rishi Sunak is reportedly looking to raise corporation tax in the upcoming March budget to pay off the estimated £400bn borrowed by the UK throughout the pandemic. According to The Financial Times, the alleged move has sparked uproar among business owners who claim they are still struggling with the…
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5 JanuaryCoronavirus
Chancellor unveils £4.6bn in new lockdown grants
Businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to £9,000, the chancellor has announced. The news comes after the prime minister’s announcement that businesses will be closed until at least February half-term in order to help control the spread of Covid-19. Alongside…
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Dec- 2020 -17 DecemberCoronavirus
Furlough scheme extended until April 2021
The furlough scheme has been extended until the end of April 2021 with the government continuing to contribute 80% towards wages to employee’s pay, Chancellor Rishi Sunak has confirmed today (17 December). The government will also extend current government-guaranteed Covid-19 business loan schemes until the end of March. This includes…
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