By John Walker on June 22, 2010
Chancellor George Osborne announced today that the standard rate of VAT will rise to 20% from 4th January next year (2011).
This is one of his measures for accelerating the reduction of the nation’s deficit.
Other measures included:
2 year pay freeze for public sector workers earning over £21,000.
reducing tax credits for families earning over £40,000.
and what he [...]
Posted in Forecasts, Taxation, UK, UK Budget |
By John Walker on March 25, 2010
The UK Treasury has released further information following the Chancellor’s Budget Statement (Wednesday March 24th 2010). The following is an excerpt from the notice that outlines the particular measures for supporting business and growth.
The Government took decisive action to support the economy during the financial crisis and its aftermath. As the UK emerges from [...]
Posted in Agriculture, Farming and Farming Support Services, Arts and entertainment, Bars, Critical Infrastructure, Education, Energy and Utilities, Environmental Issues, Financial Resources, Food, Drink and Tobacco Manufacturing, Food, Drink and Tobacco Retail, Food, Drink and Tobacco Wholesale, Forecasts, Grants and Funding Pronouncements, Lending and Borrowing, Loans and Finance, Media and Creative Services, Monetary Policy, Petroleum and Fuel Products Wholesale, Political and Economic Philosophies, Public Spending and State Aid, Real Estate Services, Regulation, Regulatory Compliance, Sales, Mergers & Acquisitions, Skills and Training, Taxation, UK, UK Budget, Waste Management and Environmental Services | Tagged Accelerated Development Zones, Annual Investment Allowance, Better Regulation measures, Energy Market Assessment, Entrepreneurs’ Relief, Green Investment Bank, Higher Education Modernisation Fund, small business rates relief, The Treasury, Time to Pay arrangements, UK Finance for Growth, University Enterprise Capital Fund |
By John Walker on March 10, 2010
The UK Chancellor of the Exchequer confirmed today that his Budget Report Statement to the House of Commons will occur on Wednesday the 24th March 2010 at 12.30 pm.
news source: http://www.hm-treasury.gov.uk/budget2010.htm
Posted in UK Budget |
By John Walker on December 9, 2009
The UK Chancellor of the Exchequer, Alistair Darling, introduced a temporary lower rate of VAT in last year’s pre budget report.
There was some speculation that he might have extended this reduction beyond the original term. However, in today’s pre-budget report statement to the House of Commons, he said:
I can confirm that VAT will return to [...]
Posted in Procurement, Professional and Business Services, Sales, Taxation, UK, UK Budget | Tagged Alistair Darling, Chancellor of the Exchequer |
By John Walker on December 6, 2009
British Chambers of Commerce (BCC) Economic Forecast - December 2009
Ahead of the Chancellor’s Pre-Budget Report, the British Chambers of Commerce (BCC) has today published its latest Economic Forecast. The business group, which calls itself “the National Voice of Local Business”, has made downward revisions to its GDP expectations for 2009 and 2010, but is more [...]
Posted in Economic Cycles, Employment Levels, England, Forecasts, Lending and Borrowing, Political and Economic Philosophies, Public Spending and State Aid, Scotland, Taxation, UK Budget, Wales | Tagged British Chambers of Commerce (BCC), capital investment, double-dip recession, GDP, international credit rating, labour market, public spending cuts |
By John Walker on April 22, 2009
The UK Chancellor of the Exchequer, today, announced the government’s mid-term economic forecasts and their tax and spending plans.
Amongst the measures, he announced a 50% rate of tax on incomes above £150,000.
…However, as the economy recovers and wages start to grow again, it is right that we take additional steps.
I believe that it is fair [...]
Posted in UK, UK Budget |
By John Walker on March 31, 2009
From tomorrow, 1 April, UK families will start to pay on average an additional £54 a year in tax on car fuels, the AA warns. In just over 12 months, that could rise to more than £150 extra. Millions of motorists may think this increase is being sneaked through before the Budget.
The Chancellor had postponed [...]
Posted in UK, UK Budget |
By John Walker on July 16, 2008
The Chancellor of the Exchequer, Alistair Darling MP, today announced that he is postponing the 2 pence per litre increase in fuel duty that was expected to take place on 1 October 2008.
As a result of this decision, main road fuel duty rates will remain at 50.35 pence per litre after 1 October this year. [...]
Posted in UK, UK Budget |
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