Legislation News – Page 6
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NewsHunt scraps tax cuts from £45bn to £12bn
London’s stock markets reacted positively to the U-turn, but families could face energy bills of up to £5,000 from April
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NewsLandmark rulings on Covid insurance cases
Insurers won key parts of a dispute with Stonegate, while separately Greggs won a battle in its £150m insurance claim
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News‘Alcohol duty freeze would have saved £300m’
The announcement by new Chancellor Jeremy Hunt is a “huge blow” for the sector which is facing “out of control” costs, according to BBPA chief executive Emma McClarkin
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NewsSecond major mini-budget U-turn as government raises corporation tax
Kwasi Kwarteng, who was on Friday sacked as chancellor, had promised in the mini-budget last month to keep corporation tax at 19% instead of increasing it to 25% as planned in April
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NewsGovernment expands Energy Bill Relief Scheme
The government has expanded its energy support package for business to include those on existing fixed price contacts that were agreed on or after 1 December 2021.
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NewsOnly my growth plan will reverse Britain’s managed decline, says Truss
PM unveils cut to red tape for small businesses and vows to stick with her economic plans, in an exclusive interview in The Telegraph
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NewsTrade bodies call for further support following mini-budget
Trade associations have written to the Chancellor following the mini-budget, renewing calls to cancel business rates and reduce VAT
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NewsJames Watt: Mini-budget could cost millions of jobs
The comments come as the Bank of England said it would “not hesitate to change interest rates” to rein in inflation
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NewsTruss to review visa scheme
The PM is to launch a major review into Britain’s visa systems in a bid to try and alleviate the acute labour shortages in industries such as hospitality, it has been reported.
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NewsLiz Truss plans to cut taxes further in the new year
The Government is preparing to end a sugar tax on soft drinks, The Telegraph reports
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NewsHospitality sector: mini-budget judged a missed opportunity to help
Freeze on alcohol duty welcomed, but lack of new measures to support struggling businesses disappoints, The Guardian reports
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NewsBusiness chiefs hail ‘first Conservative budget in 20 years’
JD Wetherspoon founder Tim Martin said the Chancellor has been “very pro-business” in the mini-Budget but called on him to go further, The Telegraph reports
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NewsNI reversal to save businesses £10k a year
The announcement was described as “excellent news” for the hospitality sector - though UKH warned the rise in interest rates would have a “two-pronged negative impact”
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NewsEnergy Bill Relief Scheme for business announced
Savings will first be seen in October bills, with the scheme to offer an equivalent discount to the Energy Price Guarantee for households
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NewsChancellor considers blanket discount on energy bills
Businesses could get a fixed reduction to the rate they currently pay per kilowatt hour on their bills
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NewsMini-budget to take place next week
The timing of the fiscal event has been constrained due to Parliament being suspended while the country is in a 10-day period of national mourning
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NewsCalories on menus could be scrapped
Larger hospitality businesses in England may no longer be required to display calorie counts on menus after government ministers ordered an official review of its anti-obesity strategy.
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NewsClarity urgently needed over energy plan
Business leaders have called for more detail over the extent of support they will receive to pay soaring energy bills
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NewsPM preps energy bailout package
Liz Truss has described the hospitality industry as “vital” and pledged to support the sector through the energy crisis. She is expected to unveil a £150bn package of support today, including an estimated £40bn-£60bn for businesses
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NewsTruss plans ‘bold’ energy freeze for business and consumers
The new PM is expected to announce a cap to the cost of gas used for electricity and heating, which would commit the government to paying the country’s energy bills above a certain point to stop widespread insolvencies and hardship