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.”
Fans are preparing to pay tribute to Mani from The Stone Roses ahead of his funeral service
Danny Jones
Stone Roses fans and Greater Manchester locals alike are getting ready to pay their respects to the late, great, Gary ‘Mani’ Mounfield, following his tragic passing last month.
As well as details surrounding his funeral being announced earlier this week, the iconic Manc musician’s cause of death has also finally been revealed.
While Hatton’s service featured a high-profile cortège which started all the way from his hometown of Hyde, past multiple landmarks and ending at the Etihad Stadium, those local to Mani’s family home on the edge of Stockport are also being welcomed to help send him off.
It's the funeral of Mani of the Stone Roses on the 22nd. He lived locally. This poster is asking people to line the route of his funeral cortege to "show that he truly was adored". pic.twitter.com/X0DYHl10Hp
He had been struggling with emphysema for some time; he was declared dead at his home in the suburb of Heaton Moor, and is said to have died peacefully in his sleep.
As you can see from the posters put in various places around the area, residents wishing to pay their own tributes to Mani before his private funeral service at Manchester Cathedral are encouraged to line the long street leading down from St Paul’s and Heaton Moor United Church as he heads towards the city.
Departing Parsonage Road from 10am on Monday, 22 December, before turning right onto Heaton Moor Rd, then Wellington and eventually on to the Cathedral, you can expect plenty of people to show up.
One of those people will be his former bandmate and another influential guitarist, John Squire, who is one of many famous musical names to have honoured him in their own way over the last few weeks.
Other members of The Stone Roses, as well as Primal Scream (who he joined in 1996), are expected to join the close family and friends at the service itself.
Nevertheless, we have no doubt that plenty will be observing the funeral in their own way.
So, for those of you also looking to honour him, you know what to do; and to quote the poster itself, “together we can show this local legend and his family that he was truly adored.”
Plans to transform Chorlton’s old shopping centre have been green-lit
Danny Jones
Yes, after a prolonged period of uncertainty, the plans put together for redeveloping Chorlton Cross Shopping Centre are now moving forward.
Following an extensive consultation period back in 2023 and planning permission having now been approved by Manchester City Council, the transformation of the long-neglected retail complex has been green-lit, and the project will be moving forward even sooner than you think.
As confirmed earlier this week, Stretford-based construction company PJ Livesey will be working in tandem with the Greater Manchester Pension Fund to deliver the major regeneration, which will see even more living spaces and leisure facilities arrive in the already thriving suburb.
Following an official press release on Thursday, 18 December, we’ve now been given a latest glimpse at what the developers are hoping the new Chorlton Cross district will look like.
Credit: Font Communications (supplied)
Plans for the transformation of both the high street and the old Leisure Centre date back to 2023 and even further when taking into account the Council asking the public for their thoughts on what should happen with the area, but Chorlton Cross, specifically, has been the subject of debate for some time.
The bulk of units in and around the largely forgotten shopping centre are now empty, with just a few hold-outs still clinging on to their space.
Now, following extensive feedback from native Mancs and those who have flooded into the South Manchester town over the past decade, the approved plans have now been revealed.
They include:
A mix of 262 one, two and three-bed apartments, all with access to outdoor space through balconies and gardens
20% affordable homes available through a mix of tenures, with 18.5% of these being available for social rent
Around 3,500 sq metres of public open space, including a fully walkable route through Manchester Rd and outdoor seating areas to encourage people to stop and dwell
A mix of flexible retail spaces, such as a new ‘Makers Yard’ suitable for smaller, start-up businesses
Up to 60 new trees across the site with maximised retention of existing trees
Manc filmmaker, Bernard Leach – who has been making videos about the region since 2007 – shared a longer look at how the vision for this next chapter in Chorlton‘s residential and retail history is currently shaping up earlier this month.
As you can see, some sections of the old Lancashire village and ‘cum-Hardy’ parish could look rather unrecognisable sooner than you think.
Should everything go ahead as scheduled, those involved are hoping to get work underway in the New Year, with the ‘decommissioning’ of all existing buildings, including Graeme House, undergoing demolition by early 2026.
With the majority vacating their premises in recent years, it’s fair to say that it’s been vastly underutilised for far too long.
Posting on social media back in September last year, nearby resident Nigel Woodcock wrote: “Serious question, not just councillor-baiting, but can anyone explain why the retail businesses in Chorlton Precinct were booted out before any decisions were made about what’s going to happen to it?
“It makes no sense to me. No plans have even been submitted, so far as I’m aware, so why kick out those businesses and leave it derelict for so long? The land and buildings are actually owned by the combined GM Local Authorities, so one might expect a modicum of political and business nous to be applied.”
Similar to the new plans being put together for the stretch of land between Castlefield and Salford, most are just glad something is finally happening with the space.
Commenting on the plans progressing, PJ Livesey’s Managing Director, Georgina Lynch, said in an official statement: “This is a landmark moment for Chorlton, marking the transformation of the former shopping centre into a vibrant new hub for the community.
“Working closely with Manchester City Council, we’ve carefully balanced the delivery of much-needed new homes – including 20% affordable – with the creation of lively, welcoming spaces to shop, relax, and spend time.
“This site is at the heart of Chorlton, and we’re bringing it back to life, cementing the area’s reputation as a truly great place to live.”
What do you make of the Chorlton Cross Shopping Centre regeneration plans?
The Manc -
3rd March 2021 
