British people want Rishi Sunak's Budget to fund social care and greener homes, research says

Asia's Tech News Daily

Several firms conducted research among their customer bases to discover what the nation’s priorities are ahead of the Government’s spending review and autumn Budget, both set to be unveiled in the House of Commons later today by Chancellor Rishi Sunak. Investment platform interactive investor found 14 per cent of its customers want to see extra funding for the long-suffering care sector, while 12 per cent want to see more “green initiatives”.

A survey carried out by Close Brothers Motor Finance found a third of Britons would like to see space in the Chancellor’s Budget for more electric car charging points to be installed across the country, while 31 per cent would like to see Government funding or grants to help with the outlay for installing charging points at homes.

A further 29 per cent said they would like to see funding for all new-build homes to have electric car charging points installed as standard and 38 per cent said they wanted the Government to help make electric vehicles more affordable.

Meanwhile, 47 per cent of Energy Helpline customers said they expect to adopt more sustainable behaviours at home in the next 12 months as a direct result of the energy crisis, with nearly half saying cutting down on the amount of energy used around the home is now a priority. Two in five said the Government has a responsibility to foot the entire bill for helping people make their homes more energy efficient.

“We all have our reasons for preferring particular fiscal policies, but what stands out is that over 40 per cent of respondents in our survey want to do some social good,” says interactive investor’s Lee Wild. “This selfless and altruistic bunch would like to see more money for either the care sector, greater incentives for green initiatives or higher taxes to pay off the UK’s pandemic debt.”

Higher taxes are already slated across the board, with Treasury announcing several measures ahead of this afternoon’s Budget statement, including plans to increase class IV and employer national insurance contributions as well as dividend taxation by 1.25 percentage points in the spring.

A new health and social care levy was announced in September, next year taking the form of a rise in national insurance rates by 1.25 per cent, while in March 2021 Mr Sunak upped the tax burden on business shoulders with a hike in corporation tax from 19 per cent to 25 per cent due from April 2023. Yesterday saw Treasury knock rumours of a VAT cut on energy bills on the head, something many households and businesses were hoping for amid sharply rising energy costs.

British people want Rishi Sunak’s Budget to fund social care and greener homes, research says
© Provided by The i Read More – Featured Image

In a bid to deliver some good news, yesterday Mr Sunak confirmed an end to the public sector pay freeze – although nurses, teachers and police officers remain in the dark about their pay until next year. A rise in the national living wage from £8.91 per hour to £9.50 and a £5,000 grant for homeowners to replace gas boilers with low-carbon heat pumps have also been promised already.

Yet people are anxious. Fidelity International research found three fifths of the UK’s voters expect to be worried about their finances after today’s Budget statement. Three quarters of those with concerns are worried about the cost of living increasing, while 53 per cent are concerned over inflation and 50 per cent about the outlook for the UK economy as a whole.

Consumer price inflation rose 2.9 per cent in September and economists expect that to rise by more than 4 per cent by the end of the year, eating into their purchasing power. While higher minimum wages were cautiously welcomed, economists were quick to point out the rise would be swiftly countered by rising prices and would do little to make up for the loss of the Government’s emergency £20 a week uplift in universal credit payments.

Nye Cominetti, senior economist at the Resolution Foundation, warned: “The high headline increase would in fact be a smaller real rise than some recent years, given that inflation is likely to be over 4 per cent by April 2022. Importantly, it will not remotely compensate for the £20 a week cut to universal credit.”

Resolution’s analysis suggests most national living wage workers receiving universal credit will lose over 60 per cent of any rise in wages to the taper in the benefit. Mr Cominetti added: “More importantly, there are 4.4 million families who have lost from the cut to universal credit, compared to 2 million workers on the national living wage. With the universal credit cut having already hit incomes hard, and the national living wage rise over five months away, there will be little protection for low income families from the cost of living crisis facing them this winter.”

The Federation of Small Businesses warned the cocktail of tax rises already on the table will add to inflationary pressure and cause firms to put the brakes on hiring and discourage investment.

A third of employers told the FSB they will be forced to increase prices due to these changes, with a quarter adding they will also cut their own compensation, 17 per cent saying they will recruit less and 16 per cent planning to scale back investment. The Confederation of British Industry meanwhile, warned government against new business tax rises “or face dampening the economic recovery and undermining its broader strategy”.

The CBI director general Tony Danker said the Government is “betting the shop” on private sector investment but not doing what it takes to attract it.

“There is a fundamental inconsistency where the Government wants to unlock business investment, but its tax policies do the opposite. You cannot will the ends and ignore the means to turbocharge the economy. Every economist and business leader knows it. This is the Government’s first Spending Review since the pandemic hit and Brexit kicked in. It must choose: are we going for growth? Or going back to tax and spend?”

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

A 'mystery hut' on far side of moon? Chinese rover sends new pictures

A Chinese rover has spotted a mystery object on the far side of the Moon, according to a report published in Space.com. The Yutu 2 rover is working in the ... Read more »

Will Omicron Tally Rise In Karnataka? State Awaits Genome Report of 5 Persons

© Priyanka | India.com News Desk A minimum of 30 samples are sent everyday for genome sequencing to keep a tab on the spread of the Omicron variant in Karnataka. ... Read more »

Banking Central | Omicron emerges as new cause for concern for MPC

© Dinesh Unnikrishnan Banking Central | Omicron emerges as new cause for concern for MPC The bi-monthly review of the Monetary Policy Committee (MPC), the outcome of which will be ... Read more »

Anand Rathi IPO sees 4.81 times subscription on day 3, QIB portion booked 18%

© Shweta Mungre Anand Rathi IPO sees 4.81 times subscription on day 3, QIB portion booked 18% The initial public offering of Anand Rathi Wealth, one of the leading non-bank ... Read more »

59 Students, 10 School Staff Covid-19 Positive in Karnataka's Chikkamagaluru

© Rajashree Seal | India.com News Desk Bengaluru: At least 59 students and 10 staff members of Jawahar Navodaya School in Karnataka’s Chikkamagaluru have tested positive for COVID-19, said a ... Read more »

Covid-19: To test vaccine efficacy, ICMR isolating Omicron strain

© Provided by The Times of India PUNE: Scientists at the Indian Council of Medical Research-National Institute of Virology (ICMR-NIV) have initiated efforts to isolate and grow the Omicron strain ... Read more »

Ashes fifth Test to be moved from Perth

There will be no Ashes Test in Perth after Cricket Australia (CA) finally bowed to the inevitable and accepted that border controls in the region meant a new venue would ... Read more »

ICICI Bank up 1%; Here's why brokerages are positive on the stock

© Provided by CNBCTV18 Despite an upbeat commentary from analysts, ICICI Bank shares traded weak earlier on Monday. However, the stock managed to stage a recovery and was now trading ... Read more »

Allahabad HC recruitment 2021: Details about examination cities released, check details at recruitment.nta.nic.in

© Provided by Firstpost Allahabad HC recruitment 2021: Details about examination cities released, check details at recruitment.nta.nic.in The High Court of Judicature at Allahabad has issued the advanced intimation for ... Read more »

Omar calls McCarthy 'a liar and a coward' for reaction to Boebert comments

Rep. Ilhan Omar (D-Minn.) holds up her phone to play a hate-filled voice mail during a press conference on Tuesday, November 30, 2021 to call out Rep. Lauren Boebert’s (R-Colo.) ... Read more »

Americans in these states could receive extra stimulus checks of $2,000 if they return to work

States including Arizona and Kentucky will begin paying residents to return to work next year. Alamy Stock Photo Americans in some states could be in line to receive an extra ... Read more »

Unvaccinated Italians face new restrictions as holidays near

1 / 4Virus Outbreak ItalyFILE – A man receives a dose of the Pfizer COVID-19 vaccine, at a vaccination center set at Rome’s Cinecitta’ film studios, on April 20, 2021. ... Read more »

PAF gets 5 more Black Hawk helicopters

Five more Black Hawk helicopters have been turned over to the Philippine Air Force, Defense Secretary Delfin Lorenzana said. The delivery of the last batch completed the 16 S-70i Black ... Read more »

Travis Head determined not to let latest chance pass him by

Familiar faces and a well-known opponent are making Travis Head‘s return to Australia’s Test team a comfortable, relaxed experience. Rather than feeling the pressure to perform after his axing midway ... Read more »

Video: He's toxic! Texas substitute teacher is 'relieved of duty' after turning up to high school with karaoke machine and lights before belting out Britney Spears' hit from his desk 

Read more »

From Jet Li in The One to Jackie Chan in Police Story, eight favourite martial arts movies

From Cheng Pei-pei and Gordon Liu to Sammo Hung, Jackie Chan, Michelle Yeoh and Jet Li, a galaxy of stars have appeared in Hong Kong martial arts movies Wong Kar-wai ... Read more »

Jurulatih renang, Cikgu Abdul Latif akan terus berbakti selagi diperlukan

Melahirkan ramai perenang muda yang berbakat antara kenangan manis bagi jurulatih renang, Cikgu Abdul Latif Ismail. Apatah lagi, perenang-perenang tersebut tersenarai antara atlet kebangsaan seperti Tern Jian Han dan Hollymax ... Read more »

Pelajar UniMAP raih naib johan Cabaran Niaga Francais 2021

PUTRAJAYA – Inisiatif pelajar Universiti Malaysia Perlis (UniMAP) menubuhkan syarikat penghantaran bagi memudahkan urusan mahasiswa yang menginap di kolej kediaman berjaya dinobatkan sebagai Naib Johan Cabaran Niaga Francais 2021. Syarikat ... Read more »

London records almost 40,000 Covid cases in one week

Nearly 40,000 Covid cases have been confirmed in London in just a week, official figures have revealed. © REUTERS People walk past a Selfridge’s store on Oxford Street, amid the ... Read more »

Steven Gerrard underestimated Rangers and Celtic 10 In A Row obsession until service station encounter

Steven Gerrard didn’t quite know what all the fuss was at first when it came to Rangers, Celtic and something called ’10 In A Row’. But he quickly found out ... Read more »

Charlie Austin sends message to QPR fans after penalty miss v Stoke

© Provided by Football League World Carabao Cup – Third Round – Queens Park Rangers v Everton QPR striker Charlie Austin has sent a message to fans after his penalty ... Read more »

I was bombarded with creepy texts by We Buy Any Car worker who offered ‘better deal' if I ‘made it worth his while'

A STUNNED We Buy Any Car customer was bombarded with “creepy” texts and calls after she tried selling her motor – including being offered a discount for sexual favours. Harley ... Read more »

Bank digesa tangguh tindakan terhadap PKS gagal bayar pinjaman

© Provided by Sinar Harian KUALA LUMPUR – Persatuan PKS Malaysia menggesa bank komersial agar tidak mengenakan tindakan undang-undang terhadap Perusahaan Kecil dan Sederhana (PKS) yang gagal membayar balik pinjaman ... Read more »

Irish truckers set to cause more traffic disruption over soaring fuel prices

Irish truckers are set to cause more traffic havoc in Dublin during another protest over skyrocketing fuel prices. The Irish Truckers and Haulage Association Against Fuel Prices took to their ... Read more »

'It's such a tricky format' - Leinster prepare to launch latest European assault

© Ben Brady INPHO Leinster head coach Leo Cullen. AFTER A RARE slip up at home, it was back to business as usual at the RDS on Friday night as ... Read more »

Wanita hadapi tekanan perasaan memandu secara melulu

© Provided by Sinar Harian TAMPIN – Seorang wanita yang dipercayai mengalami tekanan perasaan bertindak memandu kereta jenis Perodua Myvi secara melulu di Taman Indah di sini pada Ahad. Rakaman ... Read more »

MOBO Awards 2021: Leigh-Anne Pinnock stuns in a slashed leather dress as she presents the returning show three days after confirming Little Mix split

Leigh-Anne Pinnock made her second style statement of the evening as she took to the stage at the 2021 MOBO Awards on Sunday, three days after confirming the disbandment of ... Read more »

Pizza mal anders: Dieses Rezept mit Hackfleisch wird Sie überraschen – es ist soooo lecker

© Bereitgestellt von Berliner Kurier Womit machen Sie Kinder und Erwachsene gleichermaßen satt und glücklich? Mit Pizza bestimmt und mit dieser erst recht. Denn auch wenn unser heutiges Rezept so ... Read more »

SC to consider listing NIA's plea against Bombay HC order granting default bail to Sudha Bharadwaj

The Supreme Court Monday said it would consider submissions seeking urgent hearing of NIA’s plea challenging the Bombay High Court order granting default bail to lawyer-activist Sudha Bharadwaj who was ... Read more »

Novak Djokovic fails in Davis Cup quest as WTA cuts ties with China over Peng Shuai

The Davis Cup Finals came to a conclusion on Sunday (December 5), as world No 2 Daniil Medvedev and world No 5 Andrey Rublev led the Russian team to a ... Read more »

What Manchester United fans did for Fred after Crystal Palace win

Manchester United fans showed their appreciation for Fred after Sunday’s win over Crystal Palace. Ralf Rangnick took charge of his first game as interim manager at the weekend and the ... Read more »

London Stock Exchange acquires Quantile

(Reuters) – London Stock Exchange Group plc said on Monday it had acquired Quantile Group Limited to expand its range of Post Trade risk management solutions. © Reuters/Neil Hall FILE ... Read more »

Police launch murder probe after man in his 30s is stabbed to death in Birmingham

Police have launched a murder investigation after a man in his 30s was stabbed to death at a Christmas party in Birmingham. The victim was assaulted in a house in ... Read more »

Ian Evatt makes Bolton Wanderers transfer claim

© Provided by Football League World FA Cup – First Round – Bolton Wanderers v Stockport County Bolton Wanderers boss Ian Evatt has claimed to The Bolton News that the ... Read more »

Omicron variant found in nearly one-third of US states

© Provided by BusinessWorld WASHINGTON — The Omicron variant of the coronavirus has spread to about one-third of US states, but the Delta version remains the majority of coronavirus disease ... Read more »

Solon calls for investigation into increased text scams

Batasang Pambansa Complex Batasan Bayan Muna party-list Representative Carlos Zarate on Monday filed a resolution seeking an investigation into the reported spike in text scams in the country. House Resolution ... Read more »

Pope calls migrant crisis ‘shipwreck of civilization'

© Provided by BusinessWorld LESBOS, Greece — Pope Francis condemned the exploitation of migrants for political purposes on Sunday during a visit to the Greek island of Lesbos, branding the ... Read more »

UAE: Statue dating back to first century discovered in Sharjah

An artefact dating back to the first century (AD) has been discovered in Sharjah’s Mleiha. The Sharjah Archaeology Authority (SAA) said the artefact is a bronze statue of a mythical ... Read more »

Rare all-black chicken breed could find big market in UAE, says Indian minister

© Provided by Khaleej Times Kadaknath A nutrition-packed all-black chicken from the Indian state of Madhya Pradesh could soon stimulate the taste buds of residents in the UAE. A government ... Read more »

349 calon rebut 82 kerusi di Sarawak

© Provided by Free Malaysia Today Pengerusi SPR Abdul Ghani Salleh berkata, sebanyak 10 parti dan 30 calon Bebas bertanding dalam PRN Sarawak membabitkan 304 calon lelaki dan 45 wanita. ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic