Tag: Sunak

Coronavirus: Rishi Sunak praises support for NI businesses

Image copyright PA Media Image caption The chancellor said almost 26,000 NI firms benefited from more than £1bn of government loan schemes Northern Ireland businesses have received an unprecedented package of support to help them through the coronavirus crisis, the chancellor of the exchequer has said. Rishi Sunak said almost 26,000 NI firms benefited from more than £1bn of government… Read more →

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Rishi Sunak defends furlough bonus scheme

Image copyright AFP Chancellor Rishi Sunak has defended his job retention bonus scheme after MPs questioned its value for money. The policy – which was announced last week – will see the government pay employers £1,000 for every furloughed worker they retain past January. MPs on the Treasury Committee described the scheme as “badly-timed and poorly-targeted”. But Mr Sunak said… Read more →

Rishi Sunak: The ‘whatever it takes’ chancellor

Image caption Rishi Sunak rolled up his sleeves to encourage the British public to eat out again He’s been dubbed “Dishy Rishi”, “Britain’s economic Jedi” and “Santa Claus in hazmat” in recent months, but most often he is referred to as a “possible future prime minister”. Rishi Sunak’s star has been rising steadily since he became chancellor in February. Within… Read more →

Coronavirus: Chancellor Rishi Sunak sorry for not being able to protect all jobs

The chancellor has said he is “sorry” for not helping “everyone in exactly the way they would have wanted”. Rishi Sunak said the government was “throwing everything” at stemming job losses with a £30bn stimulus package. But he told the BBC he will not be able to protect “every single job” as the UK enters a “severe recession”. He also… Read more →

Coronavirus: Rishi Sunak to unveil ‘kickstart jobs scheme’ for young people

Image copyright PA Media Image caption The chancellor will present the plans to Parliament on Wednesday Chancellor Rishi Sunak will announce a £2bn “kickstart scheme” on Wednesday to create more jobs for young people. The fund will subsidise six-month work placements for people on Universal Credit aged between 16 and 24, who are at risk of long-term unemployment. Labour welcomed… Read more →

Can Rishi Sunak save your job? Five things he may do

Image copyright AFP Strawberries and cream, maybe even a glass of rosé: the “summer update” has an whiff of end-of term festivities. But the Chancellor’s summer statement on Wednesday will may impact millions of livelihoods – and his own reputation. The grants, subsidies and loans deployed to shield the British economy from the shock of lockdown didn’t manage to preserve… Read more →

Will Rishi Sunak cut shop prices to boost the High Street?

Image copyright Reuters “Timely, temporary and targeted” was the advice given to the Treasury Select Committee on stimulating the economy by the former US Treasury Secretary Larry Summers in the depths of the 2008 financial crisis. These words found their way into the pre-Budget documents to describe the immediate 13-month VAT cut from 17.5% to 15% announced by then Chancellor… Read more →

Sunak urges US to back digital services tax

Image copyright PA Media The coronavirus crisis has made tech firms “more powerful and more profitable”, the chancellor said in a letter signed by European counterparts. The letter from Rishi Sunak and finance ministers in France, Italy and Spain says tech giants, like Google, Amazon and Facebook, need “to pay their fair share of tax”. International talks are taking place… Read more →

Rishi Sunak wants firms to pay more, but also survive

Image copyright Getty Images Image caption Chancellor Rishi Sunak will start to remove the government furlough scheme The Chancellor is attempting a delicate balancing act. Slowly withdrawing very expensive government support programmes without crashing the economy. The government is currently paying 80% of the wages of nearly 8.5 million employees and 80% of 2.3 million self employed worker’s take home… Read more →