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How Has the Budget Gone Down with Cumbria Businesses?
The budget includes £150 average energy bill cuts, a 30-year rail fare freeze, and a minimum wage increase while property taxes remain unchanged, drawing mixed political and business views.
- In Parliament, Rachel Reeves unveiled the Budget 2025, ending 12 weeks of speculation with measures to raise and spend billions through new taxes and projects.
- Rising energy costs and last year's National Insurance rise have pressured small and family-run businesses, with Chancellor Rachel Reeves framing measures to promote fairness by expecting wealthier groups to contribute more.
- The Budget raises wages: the National Living Wage starts April 1 next year, up 4.1% to £12.71 per hour, helping about 250,000 East Midlands workers.
- Business leaders called the Budget a `mixed bag` and warned some measures will increase costs for SMEs while estate agents criticised the lack of Stamp Duty reform, according to industry voices.
- The Budget also lifted the two-child benefit cap, and only £5,000,000 will be reinvested into maintenance grants, prompting criticism from universities and students.
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The fresh commitments to their businesses in the UK come a day after the autumn Budget statement. Global banking giant JP Morgan Chase has unveiled plans to build a new tower in London’s Canary Wharf in an estimated £10 billion boost to the City. The plans come as rival US investment bank Goldman Sachs announced it was going to double the number of staff employed at its Birmingham office. The fresh commitments to their businesses in the UK come…
Coverage Details
Total News Sources24
Leaning Left3Leaning Right0Center7Last UpdatedBias Distribution70% Center
Bias Distribution
- 70% of the sources are Center
70% Center
L 30%
C 70%
Factuality
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