Rishi Sunak announced his Budget to the House of Commons this afternoon – revealing the government’s financial blueprint for recovery after one of the most tumultuous economic years on record.
Whilst the image of the Chancellor holding aloft the iconic red briefcase always attracts interest, the build-up to ‘Budget 2021’ had been accompanied by considerable buzz.
Many businesses have only been permitted to trade for a few months since COVID-19 first forced Britain into lockdown last March, whereas some sectors have remained closed entirely.
With an ‘irreversible’ roadmap to reopen the economy now published, millions have been speculating as to whether financial support will remain available – and how the country will get back on its feet.
Here’s a breakdown of everything Sunak had to say in his address to MPs on March 3.
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What was in the 2021 Budget?
Sunak’s debut Budget in March 2020 was an anomaly; including a series of policies designed to manage the economic impact of a deadly virus which was, back then, only in its infancy.
But the pandemic quickly spiralled out of control in the aftermath of that address, and the Chancellor has been forced to make regular interventions ever since to keep the economy afloat.
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On Wednesday, Sunak announced how the country planned to recover from its £355 billion debt incurred during the past 365 days, as well the financial support that will be accessible.
Sunak unveiled a three-part plan to “protect the jobs and livelihoods of the British people”, predicting a “swifter and more sustained recovery” to pre-COVID levels by the middle of 2022.
The furlough scheme will be extended
To protect the jobs and livelihoods of the British people through the remaining phase of this crisis, the furlough scheme will be extended until the end of September. #Budget2021pic.twitter.com/q48eo1ppqI
The Coronavirus Job Retention Scheme has resulted in millions of employees being furloughed since March – with the government covering 80% of wages for hours staff cannot work.
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Around 11 million jobs have been protected as a result.
The Chancellor confirmed on Wednesday that this furlough scheme is set to be extended until September 2021.
However, as the economy reopens again, employers will be expected to make contributions.
From July, companies will need to pay 10% towards furlough payments. This will increase to 20% in August and September.
The National Living Wage will be increased to £8.91 from April.
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Self-employed support will continue
Support for the self-employed will continue with a 4th grant covering February to April, and a 5th grant from May.
As the tax return deadline has now passed, 600,000 more people, many of whom became self-employed last year, can now claim the 4th and 5th grants. #Budget2021pic.twitter.com/1nJO2ZmPqn
The Chancellor also confirmed further support for the self-employed in the weeks ahead.
This includes a fourth grant covering February to April, and a fifth grant from May.
Sunak added: “As the tax return deadline has now passed, 600,000 more people, many of whom became self-employed last year, can now claim the 4th and 5th grants.”
Grants are being made available for retail, hospitality and personal care companies
‘Restart Grants’ worth £5 billion are being introduced to support businesses before reopening.
This includes grants of up £18,000 for pubs, hairdressers and gyms.
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Non-essential retail premises will be able to claim up to £6,000.
The 5% reduced rate of VAT will also be extended for six months to September 30 – with an interim rate of 12.5% for six months.
Business rates relief will continue until the end of June.
Apprentice incentive payments are being increased
We’re taking what works to get people into jobs and making it better.
Today we’re doubling the apprentice incentive payments we give businesses to £3,000 – that’s for all new hires, of any age. #Budget2021pic.twitter.com/1ld67CRfNr
To help get young people into jobs, the Chancellor has also announced that apprentice incentive payments for businesses will be increased.
“Today we’re doubling the apprentice incentive payments we give businesses to £3,000 – that’s for all new hires, of any age,” he stated.
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The Stamp Duty cut is being extended
The new £500,000 nil rate band for #StampDuty won't end on 31st March, it will end on the 30th June.
Then, to smooth the transition back to normal, the nil rate band will be £250,000, double its standard level, until the end of September. #Budget2021pic.twitter.com/jq7APWRP5M
Sunak also confirmed that the Stamp Duty cut will be extended by three months.
The Chancellor stated: “The new £500,000 nil rate band for Stamp Duty won’t end on March 31, it will end on the June 30.
“Then, to smooth the transition back to normal, the nil rate band will be £250,000, double its standard level, until the end of September.”
Planned duty increases for alcohol and fuel are being cancelled
Planned increases in duties for spirits have been cancelled / Image: Adam Wilson via Unsplash
Elsewhere in the Budget, the Chancellor announced that planned increases in duties for spirits like Scotch whisky, wine, cider and beer will all be cancelled.
The planned increase in fuel duty is also being cancelled.
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Paying back the debt…
We're not going to raise the rates of income tax, national insurance, or VAT.
Instead, we are freezing personal tax thresholds. Nobody’s take home pay will be less than it is now, as a result of this.
In an attempt to pay back the money borrowed to fund the government’s COVID economic recovery packages – which has led to the highest rate of UK borrowing since World War II – Sunak said that he would be freezing personal tax thresholds.
Corporation tax will increase to 25% from April 2023.
The Chancellor pledged not to raise the rates of income tax, national insurance, or VAT.
“Nobody’s take home pay will be less than it is now, as a result of this,” Sunak stated.
“It is a tax policy that is progressive and fair.”
Four rare African ducklings have been hatched at Chester Zoo for the very first time
Danny Jones
More conversation celebration down the road at Chester Zoo, as the award-winning wildlife park has welcomed four African ducklings who belong to a rare breed.
As is so often the case with the work they do all year-round, their arrival could help signal the species’ survival in the long run, whose status was sadly upgraded from vulnerable to endangered on the official IUCN Red List.
The particular type of fowl we’re referring to is the Maccao duck, a stiff-tailed bird that typically belongs to the fresh and brackish inland waters of Eastern and Southern Africa.
Medium-sized, chunky, with big bills and subtle striping around their heads, they’re gorgeous creatures as is, but especially so as ducklings…
If you didn’t say ‘awww’ out loud, then you’re just lying.
As the Zoo itself put it, they are “rare, fluffy and VERY cute.” Celebrating what is “a breeding breakthrough for one of Africa’s rarest ducks […] so these little guys are kind of a big deal.”
These little delightful little duckies are known for diving down to the bottom of lakes and riverbeds to forage for aquatic invertebrates and plants; in fact, given the choice, they tend to prefer going underwater over flying pretty much full-stop.
As a resident species that doesn’t migrate like many other birds, they are native to nations like Namibia, Zimbabwe and Ethiopia. They’re identifiable by their dark black heads, blue bills (among the males, at least) and presence within the wetlands.
However, their estimated numbers continue to drop, and unfortunately, just 14 of their kind currently remain in Kenya and only 100 in Tanzania, with fewer than 5,000 believed to be left across the entire African continent.
Not only is this the first time the species has ever been successfully bred by bird experts at Chester Zoo, but conservationists hope ducklings will put a spotlight on the threatened species.
Their scientific name is ‘Oxyura maccoa’.Just like human babies, they prone to stuff all over their face.As far as ducklings go, these adorable little African variants are pretty special. (Credit: Supplied)
The zoo’s Head of Birds, Andrew Owen, said of their birth: “As one of just seven zoos in Europe – and 12 zoos globally – that care for Maccoa ducks, these ducklings are very special as they’re the first of their kind to ever hatch here at the zoo – making it a really historic moment for our team,
“This success gives a real boost to the future of the species, and these vital new additions will contribute to the safety-net population in zoos. These birds are facing rapid decline in the wild, so every hatchling really does count.
“To see them now out on the water inside our new Heart of Africa habitat, which is dedicated to helping Africa’s most threatened species thrive, makes this milestone even more special.”
Nothing short of brilliant news, we’re sure you’ll agree; better still, in addition to the crucially charitable and conversation-based tourist attraction being named one of England’s most popular destinations once again, but these are the only rare birds welcome by the zookeepers this month.
Vogue’s immersive ‘Inventing the Runway’ show is coming to Manchester
Thomas Melia
A Vogue immersive show titled ‘Inventing the Runway’ is coming to Manchester, and it’s even co-created by Anna Wintour herself.
Ever fancied learning more about the fashion world? Well, now’s your chance to hear everything you need to know from global fashion leaders and lifestyle magazine Vogue.
The Anna Wintour-approved immersive experience comes alongside the announcement of Factory International‘s Winter lineup, which features another new event all about voyaging to the moon.
This Vogue-fronted experience will incorporate interviews, visual media and more to help attendees visualise fashion shows of the past, present and future.
As well as understanding how fashion shows became the pinnacle of a designer’s vision, this runway-themed display also includes looking back at iconic moments of fashion and pop culture.
‘Inventing the Runway’ by Vogue is focusing on outfits worn by models and A-listers alike, with narration from the one and only Cate Blanchett.
You can expect to see curated pieces by significant creative minds in fashion history like Alexander McQueen, Balenciaga, Stella McCartney, Vivienne Westwood and lots more.
Throughout the Vogue experience, as well as coming visually face to face with fashion, you will also hear a soundscape that perfectly reflects this innovative industry with a fusion of classical and pop music.
This fashion exhibition uses the same Lightroom technology behind the impressive David Hockney experience that opened back in December.
Vogue is using this show to honour anyone who has made an impact in the fashion world.The Met Gala has become a staple in everyone’s calendar year in and year out.First Northern Quarter’s Chanel show, now this… Très chic. (Credit: Wikimedia Commons/GoodFon)
Anna Wintour, Chief Content Officer, Condé Nast, and Global Editorial Director, Vogue said: “At Vogue, we’ve been lucky enough over the decades to see many incredible runway shows, which have often told the story of fashion as much as the clothes themselves.”
“This Lightroom experience is a wonderful opportunity for a lot more people to experience first-hand the thrill of watching the history of fashion unfold right in front of them.”
You can experience Vogue’s ‘Inventing the Runway’ immersive show from 18 December to 10 January when it visits Aviva Studios this winter.
Find out more information and grab your tickets HERE.
The Manc -
3rd March 2021 
