The Chancellor’s £3.9 billion tax on renewable energy generators “is a punitive measure for the clean energy sector…another example of this Government’s unfair, illogical and obsessive attacks on renewables.” Renewable electricity will no longer be exempt from the Climate Change Levy…Read more…
Where were the measures to address the continuing housing shortage?
Today the Chancellor made a number of announcements in relation to housing, primarily in relation to people claiming benefits for social housing. Young people in particular will suffer as the government are abolishing the automatic entitlement for youn…Read more…
Not a workers’ budget
Massive and unfair cuts in tax credits and benefits are going to hit low-paid workers. Can the Chancellor hope to justify his claim that this is a “one nation Budget”? The key to any Budget is how it answers the question who gains and who loses? The big picture is explained well in the…Read more…
Born in the 90s? Then this Budget is not for you
“This is a one nation Budget,” announced the Chancellor in his introduction to today’s Budget, before announcing reforms that exclude under 25s from higher pay and 18-21 year olds from housing benefit, scrapping maintenance grants for students, and permitting elite (“high-quality teaching”)…Read more…
Annuity resales – at last someone in government has found the brake pedal
After a headlong rush into so-called pensions freedom, someone responsible for pensions policy in government appears to have found the brake pedal. Tucked away in the Budget announcements was the news that attempts to launch a secondary annuity market …Read more…
Northern Puzzlehouse: how exactly will it drive up productivity?
Although the Chancellor said today, “We will be bold in delivering the Northern Powerhouse,” he had little to add on his big, unifying idea of “connectivity.” The theory (that I’ve not been able to track down to its evidence base) is that “a transformation in connections between the great cities of…Read more…
National Living Wage – good news, but some important questions
George Osborne announced today that the government would introduce a new National Living Wage of £7.20 per hour for workers aged 25 and above, to apply from April 2016 onwards (Budget Report, p32, Para 1.121). This will take the form of an initial 50p supplement to the existing adult rate National…Read more…
Summer Budget 2015 has little to say on industrial policy
The headlines from today’s Budget are pretty clear to see: the National Living Wage, an apprenticeship levy for large employers, a further squeeze on benefits. There is little to say on industrial policy and whilst today’s Budget can be viewed as a statement about big themes, concerns that the…Read more…
Osborne’s “ugly political debate” on green subsidies spooks investors
Another unhappy budget for the green economy, confirming the sale of the Green Investment Bank, a sovereign wealth fund for communities that host shale gas development, more roads investment, and expanding the North Sea allowances to include additional…Read more…
#Budget2015 gives with one hand but takes with the other
George Osborne is giving with one hand and taking away with the other in today’s Budget. The Chancellor has finally woken up to the fact that Britain needs a pay rise. The TUC has long campaigned for the minimum wage to rise faster and it’s good to see that the Chancellor has listened…Read more…