The Chancellor announced the following additional support measures for business in his statement on 22nd October. Enhanced Job Support Scheme – For staff having to work part-time due to Coronavirus, the Government to pay up to 61.66% of wages for those hours not worked. Local authority administered grants for the hospitality and leisure sectors in
Winter Economy Plan On Thursday 24 September Chancellor Rishi Sunak provided some details of the government’s plan to protect jobs and support businesses over the coming months. We set out the main announcements below. Job Support Scheme The existing job support scheme – the furlough scheme – comes to an end on 31 October. The
Chancellor Rishi Sunak delivered his first Budget, and the first since the UK’s departure from the European Union, against the backdrop of the coronavirus outbreak. The Chancellor announced a £30 billion stimulus package to support the economy through coronavirus contagion and pledged to give the NHS whatever extra resources are needed to cope. Following the
Business groups have responded to the key announcements made in Chancellor Philip Hammond’s Autumn Budget speech. The Federation of Small Businesses (FSB) welcomed the reforms to the business rates system. Mike Cherry, its National Chairman, commented: FSB presented a series of reforms to the Chancellor to make the business rates system fit for the future,
Within his Autumn Budget speech, Chancellor Philip Hammond reported on an economy that continues to grow, continues to create more jobs than ever before and continues to confound those who seek to talk it down. However, in its report prepared for the Autumn Budget, the Office for Budget Responsibility (OBR) revised down its outlook for
Chancellor Philip Hammond’s first Autumn Budget was delivered against a backdrop of economic and political turmoil, fuelled partly by ongoing uncertainty in the Brexit process. Acknowledging that the UK has entered a critical phase of negotiations, the Chancellor set out his vision of a new relationship with the European Union – though he was
A study carried out by the Chartered Institute of Personnel and Development (CIPD) has suggested that wage growth is set to ‘remain weak’. Pay rises for 2018 have been forecast at just 1%. The study attributes the subdued forecast to an increase in labour supply over the past year. Meanwhile, 23% of private sector
The Federation of Small Businesses (FSB) has called on the government to consider whether forthcoming rises in the National Living Wage (NLW) rate may need to be delayed if the economy cannot bear the pace of change. By 2020, the NLW will have risen to £8.75 per hour. The business group has suggested that any
A lack of funding was cited by 40 per cent of Britons as the biggest barrier to starting a business A new study demonstrating the long-term potential of shoestring startups founded on tight budgets has challenged the expectation that a business needs significant financial backing to succeed. The research, undertaken by Yell Business ahead
high street shoppers Some 40 per cent of shoppers would choose to shop in a store with an imaginative name over a generic one What’s in a name? The long-term success of a high street store, according to a new study revealing the UK’s best small business names. As a new founder, key early decisions might
