Dr Gordon Fletcher, retail and business expert at the University of Salford Business School, said the challenges being faced in the UK economy now were being felt before the war in Ukraine began. He said: "Reductions in the fuel duty and possibly in income tax as well as an increase in the NIC threshold appear to give some relief to workers.
Alister Jack welcomes measures to ease the rising cost of living, cut tax for lower earners and reduce fuel duty. Commenting on today's Spring Statement, Scottish Secretary Alister Jack said: Measures announced by the Chancellor will help address the big issues facing people in Scotland and right across the UK.
Spring Statement 2022 - An initial response from IFS researchers Weds 23 March 2022. IFS Director Paul Johnson form the Institute for fiscal Studies said: "There are two paradoxes at the heart of today's statement.
Commenting on the latest ONS Prices data, which showed that CPI inflation increased by 6.2 per cent in February. Thisis up from 5.5 per cent in January, while CPIH increased by 5.5 per cent, Jack Leslie, Senior Economist at the Resolution Foundation, said:"Another sharp rise in inflation last month offers a foretaste of the huge income squeeze coming this year, with inflation likely to hit at least 8 per cent this spring - which could be the highest it's been in 40 years – along with a second spike this autumn.
There continues to be high levels of COVID-19 across the Highlands and Argyll and Bute and we are therefore continuing to experience significant system pressures across the Board area. There are also extremely high numbers of inpatients with COVD-19 being cared for in our hospitals and there are a number of outbreaks within some of our hospitals and across care home settings.
Applications will open at 12pm on 24 March 2022 and close at 5pm on 31 March 2022. What does this involve? The application form will be available from Thursday 24 March, with guidance available now.
The Office for Budget Responsibility (OBR) casts its beady eye over the Spring Statement by the Chancellor Rishi Sunak. Two years since the start of the pandemic, this Economic and fiscal outlook (EFO) is presented against the backdrop of another unfolding global shock.
In his Spring Statement, the Chancellor promised to support families through the cost of living crisis today, and to cut their taxes in the future. But his failure to deliver on both of these means that absolute poverty is expected to rise by 1.3 million people next year, while only one-in-eight workers will see actually see their tax bills fall by the end of the parliament, according to the Resolution Foundation's overnight analysis of Spring Statement 2022 today (Thursday 24 March 2022).
The Office for Budget Responsibility (OBR). The rise in inflation to a 40-year high this year is expected to reduce real household disposable incomes (RHDI) on a per-person basis by 2.2 per cent in 2022-23, the biggest fall in living standards in any single financial year since ONS records began in 1956-57 (Chart F).a The underlying source of the reduction in disposable incomes comes from several sources.
This was not the set of measures that many people had expected or hoped for. 2022 is set to see the biggest single-year fall in real household disposable income since records began in the late 1950s, according to the OBR.
What does this involve? The fund is now open. This fund supports businesses which were not eligible to receive previous COVID-19 recovery funding through the 6 original tourism funds available in 2021.
The Chancellor made his annual Spring Statement speech on23 March where he set out the Government's tax plan to support the UK economy, businesses and families in both the short and the medium term. Key measures the Chancellor announced as part of the plan include a range things.
The latest ONS report shows inflation affecting producers. Main points The headline rate of output prices showed positive growth of 10.1% on the year to February 2022, up from 9.9% in January 2022.
Audit Scotland today reports on the huge problems and failures by Scottish Government to get to grips with the two ferries being built. It is still unknown what the final cost will be or indeed if and when the ferries will be delivered.
Highlands and Islands Labour MSP Rhoda Grant said:"The Audit Scotland Report evidences not just a catalogue of mistakes, but that the wrong choice was actively made time and time again with no ability to foresee consequences or listen to the risks even when they were presented by the Government's own quangos on a silver platter. "From taking gold standard international contracts and removing the meaningful safeguards to refusing to listen to industry experts, the arrogance of this Government is astounding and the ones suffering are the communities affected.
DINGWALL, Dingwall & Highland Marts Ltd, (March, 23rd) sold 12 Young Farmers over-wintered cattle at their annual sale, kindly sponsored by McKenzie Craiglands Ltd, J M Munro Ltd, Animal Health Highland & Highland Leisure Sport. Bullocks (6) averaged 262.0p and sold to 280.9p per kg for the 1st Prize Bought in Bullock and 1st Prize Haltered Bullock a 445kg British Blue cross from Duncan Munro, Invercharron Mains, Ardgay and £1,350 gross for the Overall Unhaltered Champion and 1st Prize Homebred Unhaltered Bullock a 510kg Limousin cross from Mac Campbell Drumderfit Farm, Munlochy.
In recent years, conflicts in Ethiopia, Syria, Afghanistan and Yemen have caused huge suffering. They have devastated the health and wellbeing of local populations and led to countless unnecessary deaths.
Reuters report on 17 March 2022 highlights the problems for Russian airlines as sanctions take their toll. An update on 22 March 2022.
International Trade Secretary Anne-Marie Trevelyan has today secured a resolution with the US to end the ongoing issue around steel and aluminium tariffs. Following two months of talks, the Trade Secretary met with Commerce Secretary Raimondo in Washington DC this evening and the US announced an expansive removal of section 232 tariffs*, re-opening tariff free access for UK steel and aluminium exporters to the US.
From the Office for National Statistics today. Prices for food and non-alcoholic beverages have increased recently.
