Government Announcements

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.

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.

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.

The emergency Budget will be delivered at 12.30pm on Tuesday 22 June.

The Conservative-Liberal Democrat government’s emergency Budget, set for 22 June, is likely to herald several tax changes.

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.

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

Plans by the government to reduce the higher rate of corporation tax may well be phased in over a period of years.

In his first major speech as Business Secretary, Vince Cable committed the government to taking a tougher line on parts of the banking system that have “not served enterprise in this country as well as they could”.

The government has outlined the first phase of its plans to reduce the level of regulation affecting businesses.