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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Nov- 2020 -12 NovemberEconomy
UK GDP recovers 15.5% in Q3
The UK economy showed signs of recovery in Q3 as GDP grew a record 15.5% from July to September. The latest figures from the Office of National Statistics ( ONS) come after the UK suffered its largest ever decrease in GDP of 20.4% in Q2. This means that despite the…
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5 NovemberCoronavirus
Chancellor extends furlough scheme to March
Chancellor Rishi Sunak has announced that the furlough scheme will be extended until the end of March, amid increased measures for business support as the UK enters a four-week lockdown. Payments are set to remain at 80% of employee’s wages. It comes as the chancellor said that it was “right…
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Oct- 2020 -22 OctoberCoronavirus
Sunak extends Covid scheme to pay up to half of wages
Chancellor Rishi Sunak has announced increases to the Job Support Scheme, which will now see the government pay up to half of employees wages. As part of the updated scheme, employers will pay less and employees will work fewer hours to qualify, with the taxpayer subsidy now doubled. The increase…
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12 OctoberSupermarkets
Tesco criticised amid £315m six-month dividend
Tesco chairman John Allan said he will defend “to the death” the board’s decision to pay dividend after receiving a tax break. The comments, reported by the Mail on Sunday, came as it emerged that Tesco declared a £315m six-month dividend on Wednesday following a board meeting. Tesco reported an…
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9 OctoberCoronavirus
Gov to cover 67% of wages for firms forced to shut
Chancellor Rishi Sunak has announced that businesses forced to shut due to local restrictions will be eligible for a grant that pays two-thirds of staff salaries. The government will pay two-thirds, or 67%, of each employee’s salary, up to a maximum of £2,100 a month, if the business is forced…
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Sep- 2020 -24 SeptemberCoronavirus
Chancellor set to unveil furlough replacement after Budget cancellation
Chancellor Rishi Sunak has cancelled this year’s Budget but is set to unveil new measures aimed at protecting employment and the UK economy in parliament later today (24 September). It is thought the new measures will replace the current furlough scheme, which is set to expire at the end of…
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Aug- 2020 -7 AugustHigh Street
Usdaw warns business rates increase could risk more jobs
Retail trade union Usdaw has expressed “major concerns” over reports that the government is considering increasing business rates for premises with a rateable value over £51,000. The news comes as reports suggest Rishi Sunak is considering increasing business rates in an effort to boost the UK economy. Instead, Usdaw is…
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Jul- 2020 -8 JulyCoronavirus
Chancellor unveils new £9bn retention scheme
Chancellor Rishi Sunak has unveiled a new scheme to pay companies £1,000 bonus per employee for those they keep on until January on part pay. Sunak said if employers bring back all nine million people who have been furloughed, this will be a “£9bn policy to retain people in work”.…
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Jun- 2020 -30 JuneCoronavirus
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…
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22 JuneCoronavirus
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…
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