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The Latest Breaking News from Budget

Pension pot boost could be instrumental in retaining workforce, say experts

Chancellor Jeremy Hunt is understood to be looking at increasing pension allowances in Wednesday’s Budget.

The Independent UK

Budget 2023: Millions set for pensions boost to get over-50s back into work

The lifetime allowance is currently set at £1.07million but could be increased to as much as £1.8million, in what is being seen as plans to get people working longer and to encourage over-50s back into work

Daily Mirror

Budget 2023: Pensions boost as Jeremy Hunt set to raise tax-free cap

Chancellor considering increase in lifetime allowance to reverse early retirement trend

The Independent UK

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Warning as DWP PIP claimants could be impacted by Jeremy Hunt's 'back to work' Budget

The Chancellor has said he makes "absolutely no apology" for being responsible with the public finances

Liverpool Echo

Jeremy Hunt considering Budget pension changes in drive to bolster workforce

The Chancellor is looking at increasing the lifetime and the annual pension allowance as part of his fiscal package on Wednesday.

Evening Standard

Pension pot boost being considered by Jeremy Hunt in Budget

The Chancellor is reportedly considering increasing the lifetime pension allowance (LTA) in hopes to reduce early retirement trends

Wales Online

Hunt considering pension changes in the Budget in drive to bolster workforce

The Chancellor is looking at increasing the lifetime and the annual pension allowance as part of his fiscal package on Wednesday.

The Independent UK

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Jeremy Hunt confirms investment zones plan for Scotland - and boost to innovation and R&D in Glasgow

Budget speech will include announcement of £100m for 26 projects in Glasgow and two English cities

Insider UK

Accelerated depreciation key to boosting manufacturing: EMA

The Government should introduce accelerated depreciation for manufacturing technology in this year’s Budget, if it wants to kick-start manufacturing businesses’ investment in advanced equipment and boost productivity. That’s the message from Employers and Manufacturers Association boss Brett O’Riley.

Newsroom.co.nz

MPs urge Chancellor to ‘safeguard’ London’s transport system in budget

The cross-party group of MPs called for the reintroduction of tax-free shopping for tourists to make London more attractive to overseas shoppers

Evening Standard

New measures to boost workforce participation for benefit claimants, over-50s and long-term sick or disabled on way

The Treasury has announced new steps to boost workforce participation ahead of this week’s Budget.

Daily Record

Future of 30 West Yorkshire bus services hangs in balance

Decision likely to hinge on outcome of this week's Budget.

Leeds Live

Budget to encourage over-50s, disabled and benefits claimants back into work

Chancellor Jeremy Hunt will use his first Budget to address the drop in the UK’s labour force participation.

The Independent UK

Give parents more free childcare in next week's Budget, voters demand in poll

Around six in 10 believe the Tories should massively expand free childcare to one and two-year-olds in England, according to the Redfield & Wilton poll for the Sunday Mirror

Daily Mirror

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Daily Mirror

Gin distillers accuse Jeremy Hunt of failing to back England's national tipple

Ahead of the Budget, analysis from the UK Spirits Alliance found the cost of duty on a bottle of gin in the UK is 77% higher than the EU average

Tribune News Service

Yellen, House Republicans spar over tax increases, debt limit

WASHINGTON — House Republicans slammed the Biden administration’s tax proposals in a hearing with Treasury Secretary Janet L. Yellen on Friday, giving the president’s latest budget request an icy reception.

Birmingham Post

Carbon capture Budget pledge could put the fizz in Humber Net Zero industrial ambitions

Chancellor to back technology to store emissions and clean up carbon-intensive operations like power generation, steelmaking and refining

The Independent UK

Davey: SNP now engulfed in poisonous divisions due to leadership race

The Liberal Democrat leader has addressed his party’s Scottish conference in Dundee.

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Evening Standard

Dark clouds over construction sector despite GDP growth, as building work slips to 11-month low

The UK building sector had its worst month in almost a year, but there may be signs of greater resilience in the London housing market

The Independent UK

Government urged to use upcoming Budget to fund Scottish carbon capture project

MPs from the Scottish Affairs Committee made the plea in a new report.

The Independent UK

Councils say pothole funding is 31 times below budget per mile for major roads

The Local Government Association urged the Treasury to use next week’s Budget to provide more money to councils to fix pothole-plagued local roads.

Insider UK

MPs call on Chancellor to approve Acorn carbon capture project

Scottish Affairs Committee warns that net zero targets are at risk if Scottish cluster is not utilised

Axios

Biden proposes $6.8 trillion budget to make rich pay "fair share"

“My 2024 Budget is a blue-collar blueprint to rebuild America," Biden said.

Tribune News Service

Debt limit clouds outlook as Biden budget set to hit Thursday

WASHINGTON — President Joe Biden’s delayed budget for the upcoming fiscal year due Thursday will kick off what’s expected to be a lengthy battle over spending levels and priorities, with the debt ceiling deadline looming this summer casting a pall over the entire process.

Roll Call

Debt limit clouds outlook as Biden budget set to hit Thursday - Roll Call

President Joe Biden’s delayed budget due Thursday will kick off what’s expected to be a lengthy battle over spending levels and priorities.

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