Shadow Chancellor Anneliese Dodds warned the government's shift in focus to prioritising commercial property over flexibility for businesses to pay back loans could lead to a "high street sell off." She added the Chancellor's grants for business "recognised the problems" but isn't the right solution. Report by Odonovanc. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Anneliese Dodds has said she is "concerned" about the lack of clarity around economic support for businesses as lockdown restrictions ease. On Monday Prime Minister Boris Johnson set out the roadmap for getting England out of coronavirus lockdown, but the Shadow Chancellor is concerned that without proper economic support, more job losses could be seen. Ms Dodds raised concerns that hospitality venues will continue to remain closed but without the support of the furlough scheme or of business rates holiday.
Report by Thomasl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Anneliese Dodds has called on Chancellor Rishi Sunak to "act now" and learn from his past mistakes after the Office for National Statistics reported the UK's economy shrunk faster than at any point in 100 years in 2020. The Shadow Chancellor criticised Mr Sunak for taking "far too long" over extending the furlough scheme. "Leaving his policy around furlough until five hours before that scheme was due to end" she said; "We can't have that again". Ms Dodds said the Chancellor needs to extend the business rates holiday and VAT reduction. "He also needs to commit to a smarter furlough scheme" she added; "one that will be in place while we have those restrictions on economic activity". The Shadow Chancellor also said Mr Sunak "has to do far more to create new jobs".
Report by Thomasl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Shadow Chancellor Anneliese Dodds says the government needs to get a "stronger grip" on introducing a hotel quarantine for people arriving in the UK. She added: "This is a race against time, we need to protect ourselves against additional [Covid] variants." Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Shadow Chancellor Anneliese Dodds says it is "critically important" the government has a long-term prospective, while the country is in a "fragile economic state". Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Responding to today's budget, Laura Tenison MBE, founder of Jojo Maman Bebe, said that while her company would remain innovative, higher corporation tax means companies like hers will have less to reinvest in creating jobs.
Report by Odonovanc. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Mayor of London Sadiq Khan says the Budget lacked an increased investment for the NHS, social care and other workers who have been at the frontline of the Covid pandemic.
He added it lacked a long-term plan of how the capital and country was going to recover from the crisis. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chancellor Rishi Sunak has defended his Budget when asked why he has not made provisions for coronavirus related costs beyond 2022. During a Downing Street press conference Mr Sunak was asked if it was his "honest judgement that the pandemic will cost nothing from next year". The Chancellor admitted that he does not know exactly the future path of what is going to happen, adding: "I don't have a crystal ball". However he reassured the public the government is thinking about the next 12 months, and working to improve the UK's preparedness for future pandemics. Report by Thomasl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Stephen Barclay has praised Rishi Sunak's Budget for providing support beyond the Covid roadmap. The government aims to have the economy open by June 21, but the Chancellor's support "goes way beyond that", he said. He added: "He has already taken a cautious approach extending till the end of September to allow for the fact some businesses will come back at different paces." Report by Thomasl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The UK's economic recovery from coronavirus will be "swifter and more sustained" than previously thought, Chancellor Rishi Sunak told MPs as he set out his Budget.
But he warned it would take "a long time" to rebuild and pledged to do "whatever it takes" to support people.
In his Budget the Chancellor:
- Extended the stamp duty holiday from the end of March until the end of June.
- Confirmed the extension of the furlough scheme until the end of September.
- Extended the 5% reduced rate of VAT for the tourism and hospitality sector to the end of September.
- Continued the business rates holiday for the retail, hospitality and leisure sectors until the end of June.
- Announced the temporary £20-a-week increase in Universal Credit payments will continue.
- Set out a new Recovery Loan Scheme.
-Froze all alcohol duties and scrapped a planned increase in fuel duty. Report by Avagninag. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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