The reluctance of both the Chancellor and the Prime Minister to confirm that non-pensioner benefits (notably Universal Credit) will be uprated next year in line with inflation has fed speculation that the Government is considering a real-terms cut. My advice would be to squash this idea as soon as possible – mainly because it is … Continue reading The case for a real-terms benefit cut is weak – and it would be political madness
Category: Taxation
‘Morning after’ reflections on the mini-Budget…
It may well take some time for the dust to settle on Kwasi Kwarteng’s first Budget (yes, ‘Budget’: if it looks like a duck, walks like a duck and quacks like a duck, then it’s fair to call it a duck). The initial reaction from most economic commentators and in the financial markets has been … Continue reading ‘Morning after’ reflections on the mini-Budget…
Why the bankers’ bonus cap should be scrapped
The new Chancellor, Kwasi Kwarteng, is said to be considering scrapping the EU’s cap on bonuses in the financial sector. This would be hard to sell to the public, but is still the right thing to do. The ‘bankers bonus cap’ is part of the Capital Requirements Directive IV that was first applied to credit … Continue reading Why the bankers’ bonus cap should be scrapped
Businesses must not be given a blank cheque for energy bills
Many businesses are rightly worried about the soaring cost of energy and the likely delay before they will be able to access the rescue package being put together by the government. Unfortunately, there are good reasons why they will have to be patient. The new ‘Energy Price Guarantee’ will cap the unit price of energy … Continue reading Businesses must not be given a blank cheque for energy bills
