Government Announcements

Spotlight - Government Announcements

Emergency Budget 2010: VAT to rise

As had been expected, the Chancellor has chosen to raise the basic rate of VAT, from 17.5 per cent to 20 per cent.

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Emergency Budget 2010: Speech headlines

The Chancellor has concluded his emergency Budget speech. We are now in the process of updating our Budget Report and putting together a series of news articles. However, the headline news from the Chancellor’s statement is:

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Emergency Budget 2010: Speech begins

The Chancellor, George Osborne has risen to his feet in the House of Commons at 12.30 pm and has embarked on what is regarded as one of the most important and far-reaching Budget speeches in a generation.

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Government confirms minimum wage increase

The Government has confirmed that the recommended rises in the national minimum wage made by the Low Pay Commission will come into effect in October.

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Chancellor to offer one-year employer NIC holiday

The emergency Budget is to give new businesses a one-year break from paying employers’ national insurance contributions on the first ten staff they employ.

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Economic growth forecast is cut

The Office for Budget Responsibility (OBR), set up by the coalition government to provide independent economic forecasts, has predicted that rate at which the UK economy is likely to expand will be lower than previously estimated.

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Health and safety regulations to be reviewed

The government is to subject the current health and safety legislative system to a review.

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