Chancellor Richi Sunak has unveiled his Autumn Budget. This is going to be the Budget for “A STRONGER ECONOMY FOR THE BRITISH PEOPLE “, the chancellor announced.
The new budget has laid out the economic recovery plan for the UK in the still uncertain, ravaged by the pandemic period.
Stressing that how we move forward will depend still on the continuation of the vaccination programme, the government will wind down the emergency pandemic support and invest in public services, infrastructure and innovation skills, which will all drive the economic growth and lead to the greener, eco-friendly future.
With the efficient vaccination programme that has led to unexpected growth and stronger recovery in employment across the country, the post- Brexit, post-pandemic aim is to level up the regional inequalities and give opportunities to everyone equally in the UK, no matter where they live. With the inflation still inevitable to rise (it currently sets at about 4%) many criticize the budget for taking away the £20 a week Universal Tax Credit uplift to the poorest introduced during the pandemic.
On a positive note, millions of public sector workers will receive a pay rise next year, as the “temporary pause” in salary progression was introduced last November in response to the pandemic.
The shake-up of the alcohol duty and the cut to the business rates to support the high street are the only announcements for the small business.
As the times are uncertain, amid the rise of food and petrol prices and issues with the trade with Europe, it may seem not enough for many.
Budget 2021′ -Investment in Infrastructure and Innovation Skills- Your Tax Assistant