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3 days ago · Chancellor protects public services as departments’ day-to-day spending set to grow by an average of 3.3% in real terms between 2023-24 and 2025-26, including increase of more than £22 billion ...
- Reversal of Tax Cuts
- Shortening of Universal Support For Household Energy Bills
- Economic Advisory Council
- More Difficult Decisions to Come
The new Chancellor’s statement cancels most of the tax changes that were announced in the mini budget. The Government had already cancelled measures contained in the mini-budget to abolish the 45% additional rate of income tax and freeze the main rate of corporation tax at 19%. Of the tax changes announced in the mini-budget, all that remain are: 1...
Announced in September 2022, the Energy Price Guarantee(EPG) caps the unit cost of energy for households. All households were due to benefit from the EGP for two years, until the Chancellor’s 17 October announcement. In his statement, the Chancellor said that universal household support for energy bills will now run until April 2023. A Treasury-led...
An economic advisory council is being established. The council will “act as a consultative forum for the government to be advised on UK and international economics and financial markets.” The council will include Rupert Harrison (Blackrock and former Chief of Staff to Chancellor George Osborne), Karen Ward (JP Morgan), Sushil Wadwhani and Gertjan V...
The Chancellor said that there would be “more difficult decisions to take on both tax and spending”. Departments are being asked to find ways to cut their spending. More announcements are to come on 31 October, when the medium-term fiscal plan is published.
Sep 23, 2022 · Chancellor unveils new growth plan, tackling energy costs to bring down inflation, backing business and helping households. Corporation tax rise cancelled, keeping it at 19% as government sets ...
- HM Treasury
Mar 23, 2022 · Surging prices, National Insurance changes and fuel duty cuts - the impact on your finances explained.
Oct 3, 2022 · The Treasury estimates that the Energy Price Guarantee will cost round £31 billion during 2022/23, while the Energy Bill Relief Scheme will cost around £29 billion.
May 12, 2022 · Following spikes in global wholesale gas prices, the recent failure of 29 energy suppliers, Ofgem’s price cap rise and the Russian invasion of Ukraine, the future of the UK’s energy supply is uncertain. There is growing concern over security, affordability, and sustainability of supply.
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Oct 21, 2022 · Those most familiar with L&SCM research can provide insights that pass a rigorous review process, which makes them unique. Stepping into the realm of policy is crucially important today, as governments are rapidly enacting new laws coming out of the pandemic that may produce unintended consequences.
