Tag: Jeremy Hunt

Monday, October 2nd 2023 - 09:07 UTC
British national living wage is set to increase to £11 an hour from next April, Chancellor Hunt

The British national living wage is set to increase to at least £11 an hour from next April, Chancellor of the Exchequer Jeremy Hunt is expected to confirm this Monday in a speech to the Conservative Party conference. The move will benefit two million of the lowest-paid workers, according to an advance of the speech shown to BBC.
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Friday, August 4th 2023 - 08:17 UTC
Bank of England rate up to 5,25%, highest in fifteen years; no prospects of abating

The Bank of England raised on Thursday its main interest rate to 5.25%, the highest in 15 years, as the country strives to control persistently high inflation. The quarter percentage point hike was the bank's 14th in a row.
Friday, June 23rd 2023 - 10:40 UTC
Upheaval in UK mortgage market: banks and building societies to meet Chancellor Hunt

Following on Thursday interest rate hike by the Bank of England, BBC is reporting that banks and building societies are to meet Chancellor Jeremy Hunt to discuss the upheaval in the mortgage market.
Thursday, March 16th 2023 - 07:35 UTC
Chancellor Hunt, “British ale may be warm, but the duty on a pint is frozen”

The price of a packet of cigarettes rose hours after the UK Budget was delivered in Parliament, while drinkers will see tax on alcohol go up by 10.1% in August, in line with inflation. According to London media, the only alcohol not to see a rise was draught beer where duty will be frozen. Chancellor Jeremy Hunt said this was to help “the great British pub”.
Thursday, March 16th 2023 - 06:40 UTC
UK Corporation Tax rate will increase from 19% to 25%; investments deductable

Corporation Tax, paid on UK company profits, will rise next month, chancellor Jeremy Hunt has confirmed to Parliament. It will go up from 19% to 25% for companies with over £250,000 in profits, Mr. Hunt told the Commons.
Tuesday, January 31st 2023 - 08:37 UTC
The UK economy forecasted to contract 0,6% this year, IMF report

The UK economy this year is forecasted to perform worse than similar advanced economies, and is estimated to contract by 0,6%, according to the latest report from the IMF. The new forecast reflects UK's high energy prices and strong inflation.
Friday, November 18th 2022 - 09:23 UTC
UK in recession; Autumn plan anticipates £30 billion in spending cuts and £25 billion in tax hikes.

Chancellor of the Exchequer Jeremy Hunt announced on Thursday a £55 billion fiscal plan with £30 billion in spending cuts and £25 billion in tax hikes. The measures which anticipate a cold winter and long recession in the UK, included an extra two-year freeze on income tax thresholds and a lowering of the top rate of income tax to £125,140
Thursday, November 17th 2022 - 10:00 UTC
UK's double shock, highest inflation in 41 years and a draconian Autumn budget

Chancellor of the Exchequer Jeremy Hunt will unveil this Thursday before Parliament his long-awaited Autumn budget statement, having anticipated to the UK population that “we will be asking everyone for sacrifices.”
Saturday, November 5th 2022 - 10:25 UTC
Strong lobbying to boost defense spending from Secretary Wallace and Speaker of the House

UK Defense Secretary Ben Wallace will urge Jeremy Hunt to boost defense spending during a crunch meeting with the Chancellor. Speaking to Forces News, Ben Wallace says he will “make sure that, in this difficult economic time, defense gets its fair share” at their meeting on Thursday.
Thursday, October 27th 2022 - 10:16 UTC
UK's Autumn's budget delay to Nov 17, leaves BoE on the dark as to interest rate increase next week

Since British Chancellor of the Exchequer Jeremy Hunt pushed back this year's autumn statement (expected “mini budget”) --from Halloween to 17 November--. Bank of England who are meeting on 3 November have been left without guidance as to the government's tax and spending policies.