Rishi Sunak

General election called for 4 July

Prime minister Rishi Sunak has confirmed that a general election will take place on Thursday 4 July. The prime minister informed the cabinet of his plans in a meeting held this afternoon (22 May). As a result the parliament will be dissolved next week. Sunak had previously confirmed that an…

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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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Energy bills to be capped at £2,500 a year from October

Prime minister Liz Truss has announced today that energy bills for typical households will be capped at £2,500 annually for their gas and electricity bills from the start of this coming October.   The news comes as her first major policy announcement, and according to Sky News, the new price guarantee…

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Retail responds to ‘underwhelming’ Spring Statement

Both Bira and CBI have expressed disappointment in the chancellor’s Spring Statement, with Bira having declared it is “underwhelmed with the offerings for independent businesses”. In his speech yesterday, Rishi Sunak outlined a series of measures to help combat the rising cost of living in his latest spring statement, including…

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Spring Statement: Chancellor raises NI threshold to £12,570

The chancellor has outlined a series of measures to help combat the rising cost of living in his latest spring statement, including increasing the national insurance threshold by £3,000.  Speaking in parliament today (23 March), Rishi Sunak began his speech by warning it is yet unclear what the impact of…

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13 Spring Statement predictions

With both the global and UK economies coming under pressure from the rising cost of living crisis, which has only been exacerbated by Russia’s invasion of Ukraine, all eyes will be on the chancellor when he makes his Spring Statement speech on 23 March 2022. Here, Christy Wilson, tax associate…

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Energy price cap to rise 54% from April

Retail bosses are braced for a spending squeeze after it was revealed the energy price cap is set to increase by 54% from 1 April amid a “record” increase in global gas prices, in a move that is set to affect approximately 22 million customers. Energy regulator Ofgem announced that…

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Chancellor unveils 50% rates discount for Retail, Hospitality and Leisure

Chancellor Rishi Sunak has unveiled a 50% discount on business rates for the hospitality, retail and leisure sectors (up to £110,000), equating to a business tax cut worth £1.7bn, the biggest single-year rates cut for firms in over 30 years. Unveiling his latest Budget in the Commons today (27 October),…

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Over 40 employee groups pen letter urging Sunak to cut business rates

The CBI, along with 41 trade associations spanning the UK economy, have issued a joint statement urging the chancellor Rishi Sunak to reform the business rates system and “unleash a wave of business investment across key government priorities, including net zero and levelling up”. The joint statement from businesses is…

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Contactless limit to hit £100 in October

The Government is set to raise the contactless card spending limit from £45 to £100 from 15 October 2021. Initial plans for the change were first announced in March’s budget announcement, and follow the increase from £30 to its current level at the start of the pandemic. The decision has…

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