Unpacking the latest developments in tax and regulation policy, from the cancelled Budget to the Winter Economy Plan.
Autumn is always an incredibly busy period in Westminster. With MPs returning to Parliament and an impending Budget, it usually makes for lots of work. With the pandemic looming large, it’s clear that 2020 will be a fundamentally different year. The fiscal events calendar itself has not been left untouched with news at the end of September that the Budget has been cancelled.
Business welcomes the introduction of a new Job Support Scheme
But there have been some positive developments, mainly in form of the Chancellor’s Winter Economy Plan. The CBI had been using the summer to build a strong evidence base for why additional business support would be needed in the final two quarters of the year, in particular to avoid a cliff edge when the Coronavirus Job Retention Scheme ends at the end of October. The CBI and its members were clear: a wage support scheme is critical in preventing job losses and supporting firms with sluggish demand. So it was a relief to see the Chancellor adopt the CBI’s
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