News That Matters

Tag: Sunak

Spending Review: Sunak pledges to make jobs ‘number one priority’

Spending Review: Sunak pledges to make jobs ‘number one priority’

Business
.css-94m6rd-HeadingWrapper{border-bottom:solid 1px #BABABA;padding-bottom:1.5rem;}.css-94m6rd-HeadingWrapper > *:not([hidden]):not(style) ~ *:not([hidden]):not(style){margin-top:1rem;}.css-vk3nhx-ComponentWrapper{margin:1.5rem 0;}.css-1759m9z-StyledFigure{font-family:ReithSans,Helvetica,Arial,freesans,sans-serif;font-weight:400;font-size:0.875rem;line-height:1.125rem;}.css-kwaqyc-StyledFigureContainer{position:relative;}.css-1xtcmof-Placeholder{position:relative;display:block;padding-bottom:56.25%;background-color:#EEEEEE;}.css-1xtcmof-Placeholder img{overflow:hidden;position:absolute;top:0;right:0;bottom:0;left:0;display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-box-pack:center;-webkit-justify-content:center;-ms-flex-pack:center;justify-content:center;-webk...
Sunak plots listings reform to aid City’s quest to lure tech giants

Sunak plots listings reform to aid City’s quest to lure tech giants

Business
Rishi Sunak, the chancellor, is plotting an overhaul of the UK's public company listings regime in a bid to lure more technology "unicorns" to London.Sky News has learnt that Mr Sunak is preparing to announce a review aimed at helping the City compete more robustly with New York's vast capital markets in a post-Brexit era. City sources said that Lord Hill, Britain's former commissioner to the EU and a non-executive director of the Treasury, was this weekend being lined up to lead the review. Image: Lord Hill, the UK's former commissioner to the EU, is being lined up to lead the review One banker suggested that the chancellor could announce the plan as soon as next week, with the Financial Services Bill scheduled to have its second rea...
Borrowing records smashed as Sunak prepares to splash more cash

Borrowing records smashed as Sunak prepares to splash more cash

Business
The Treasury borrowed the third-highest sum for any month on record in August, according to official figures - as the chancellor prepares to unleash his latest support for the coronavirus-hit economy.The Office for National Statistics (ONS) reported that public sector net borrowing, excluding the effects of bank bailouts, was estimated to have hit £35.9bn last month - the highest sum ever recorded for an August. That was £30.5bn more than in the same month last year and explained by the government's efforts to fund its COVID-19 medicine for jobs and efforts to tackle the disease.Live updates on coronavirus from UK and around world
Rishi Sunak defends emergency jobs scheme

Rishi Sunak defends emergency jobs scheme

Business
Media playback is unsupported on your device Chancellor Rishi Sunak has said it is "impossible" to predict how many jobs the government's new wage subsidy scheme will save. The scheme, set to replace furlough, will see the government top up the pay of people unable to work full time.It aims to stop mass job cuts after the government introduced new measures to tackle a rise in coronavirus cases.Mr Sunak said he hoped the plan would "benefit large numbers", but he could not say what job is "viable or not".Under the Job Support Scheme, if bosses bring back workers part time, the government will help top up their wages with employers to at least three-quarters of their full-time pay. It will begin on 1 November and last for six months. How will th...
Covid-19: Sunak set to unveil emergency jobs scheme

Covid-19: Sunak set to unveil emergency jobs scheme

Business
Chancellor Rishi Sunak will later unveil a plan aimed at minimising further unemployment as stricter Covid-19 restrictions come into force.The new measures are expected to replace the furlough scheme, which is set to expire next month.In July, around five million workers were still receiving some or all of their income through the scheme, many in the hospitality sector.Pubs and restaurants have warned they will be hit hard by new restrictions.From Thursday, hospitality venues in England will have to shut at 22:00 BST as the government tries to control the spread of the coronavirus. Scotland is introducing similar measures, with pubs and restaurants having to close at 22:00 BST from Friday, while in Wales restrictions are limited to stopping alcohol sales ...