The Chancellor of the Exchequer, Kwasi Kwarteng, has delivered his 2022 mini-budget in an attempt to address concerns surrounding the ongoing cost of living crisis.
While significant tax cuts were already predicted ahead of the crucial economic update, many people across the country may have been surprised by the sheer extent of measures announced by the chancellor across the board.
Energy
Addressing the subjects on everyone’s mind early on, Kwarteng stated that the annual price of energy for UK households will now be limited to £2,500, resulting in savings of around £1,000 against the projected figures following the most recent energy cap.
He also confirmed that the £400 energy discount is still in place, with the most vulnerable homes receiving even more in government support. Some are less than convinced that any real ‘savings’ will be made.
Kwarteng says a typical energy bill of 2,500 this year is a SAVING of £1,000.
Earlier this week, the government announced that they would be halving energy bills for businesses over the next six months. Today he confirmed that a relief scheme will be put in place, as well as an “energy market finance scheme” which will offer liquidity to traders.
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Similar relief will be afforded to schools and charities.
Lending and inflation
The hope is that this overall energy plan will reduce inflation, which currently sits at 9.9% based on August’s figures, to 5% and see the trending rate of annual financial growth to 2.5%.
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Not only does the government believes this will lower the wider cost of living pressures but also free up finances to help better fund public services.
The overall energy relief package is said to be costing approximately £60 billion, meaning a significant amount will have to be borrowed from the Bank of England.
Bankers’ bonuses cap and corporation tax hike scrapped
On the subject of banks, one of the most controversial parts of the Kwasi Kwarteng’s update was the announcement that the cap on bankers’ bonuses will be scrapped entirely, arguing that previous measures only led to higher wages and people paying tax in other countries outside of the UK.
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Next year’s scheduled corporation tax increase from 19% to 25% is also going to be scrapped, the rationale being that “low tax encourages investment” both domestically and from overseas.
Once again, people are less than impressed that the nation’s highest-earners appear to be the ones benefiting the most from government policy.
This is a Bankers’ Budget:
– Scrapping the cap on bonuses – Slashing tax for the top 1% of earners – Cutting tax on big businesses' profits
When millions urgently need help with the cost-of-living crisis, the Tories are helping out their super-rich mates.#EnoughIsEnough
The chancellor also said that the government are committed to removing further enterprise barriers caused by EU regulation, hoping to streamline “planning restrictions” across childcare, immigration, agricultural productivity, and digital infrastructure.
He sighted energy, telecoms and travel as key problem areas hamstrung by red tape.
However, he conversely criticised the ongoing strike action across the country and said that they plan to imitate other countries by introducing legislation to ensure minimum level service resumes.
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Tax cuts
Elsewhere, businesses in nearly 40 different ‘designated zones’ have been promised tax cuts for the next 10 years and no stamp duty on new premises. Speaking of which, as of today, no payment will be required on the first £250,000 of a property’s value, with first-time buyers paying zero on the first £425,000.
In fact, it looks as though the overall tax system is set to be reviewed once again. Not only are previous corporation tax and stamp duty plans being scrapped but income tax, alcohol duty and more are all being reexamined as part of the not-so mini-budget.
Alcohol duty is set to be frozen in February, meaning that Brits can expect to save around 7p per pint, 38p per bottle of wine and £1.35 on spirits. VAT-free shopping is also due to be introduced for overseas visitors, with aim of increasing revenue from tourism.
Kwarteng also confirmed that the basic rate of income tax will be cut by 1p to 19p from April 2023, with the 45p tax rate for those earning over £150,000 will be abolished from the same time next year.
This is said to be the biggest series of tax cuts in 50 years.
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£45 billion of tax cuts. This is biggest tax cutting event since 1972. Barber's "dash for growth" then ended in disaster. That Budget is now known as the worst of modern times. Genuinely, I hope this one works very much better.
Despite the ‘real’ living wage being increased by 10% in an attempt to try and curb rising costs in almost every other walk of life, it goes without saying that the UK faces an extremely difficult period ahead as energy costs continue to rise, post-Brexit prices keep rising and we approach the ever expensive winter months.
The shadow chancellor Rachel Reeves told the Financial Times that regardless of the measures announced today, both the mini-budget and Liz Truss’ appointment as Prime Minister represents “another zigzag on a path of policy failure” rather than any real sign of change.
Manchester United’s latest Stadium Sleep Out raises £30k for the homeless and vulnerable young people
Danny Jones
Man United once again held their latest ‘Stadium Sleep Out’ this past weekend and managed to raise more than £30,000 to combat homelessness and help vulnerable young people across Greater Manchester.
Truly touching stuff at such a tough time of year.
Held at Old Trafford for the last couple of years, the club’s Sleep Out initiative sees hundreds of Reds, charitable volunteers and just well-meaning Mancs, in general, descend upon the Theatre of Dreams for a magical night under the stars and the floodlights of one of the most famous stadiums in world football.
Taking place last Friday, 15 November, the third-ever stadium sleepout saw more than 120 people – including Man United players and staff, both past and present – pull out their sleeping bags and spend the night up in the stands for this crucial cause.
Raising vital funds for Centrepoint, the UK-based charity that specialises in helping vulnerable young people who are either currently or at risk of sleeping rough, as well as the local homeless community at large, those taking part amassed another £30k through generous donations.
Having raised £40k in 2023 and matched the same target amount since for their debut event back in 2021, which was instead held inside the Munich Tunnel, that’s now £100,000 raised for the non-profit – a total figure which could prove to be life-saving for many across the 10 boroughs.
Centrepoint also shared real-life experiences of hardship faced by some young people with the group huddled up inside Man United‘s home ground, as well as inviting those taking part to offer their own messages of support to those struggling, especially during the colder months.
The Manchester United Foundation’s CEO, John Shiels, also gave a reading of a poem about the fabled Busby Babes (in whose honour the organisation was created in 2007) as a commitment to the young people across Greater Manchester.
“Once again, I am humbled by the amount of support the Sleep Out has received. It’s been great to see faces old and new supporting our work, and the work of Centrepoint, as we head into the harsh winter months”, said Shiels.
“There are many young people out there currently living in dire conditions and it is our duty as a community to come together and help them. I’m delighted to see that so many people feel the same and have collectively raised a fantastic amount of money that will make a huge difference to the lives of vulnerable young people in our area.”
As you can see, former players turned club ambassadors, David May and Danny Simpson, were both in attendance to sleep over during the night and chat with fans.
Simpson, an ex-United academy graduate who retired earlier this year, said of the evening: “It’s been a pleasure to be here this evening. I feel like homelessness is a problem that is getting worse, and you see it all over the city.
“I’m a local boy, so it means something to me to try and help my community in any way I can. I’ve seen first-hand the positive impact the Foundation has and it’s been great to hear about the work Centrepoint is doing – it’s been a really positive night.”
Other club partners and sponsors such as DXC Technology, DHL, WOW HYDRATE, Cadbury also helped out on the night, either by sending members in sleeping bags to represent their companies or by gifting snacks and supplies for the long night in the cold.
It goes without saying that it warms our hearts to see Mancs pulling together for such an important issue. Better yet, the fundraising page is still open so if you want to help, you can donate HERE. Here’s hoping United smash their previous fundraising feats at the next Stadium Sleepout in 2025.
Festive Grinch-themed cafes to pop up inside Greater Manchester Primark stores
Emily Sergeant
Festive Grinch-themed cafes are popping up inside two of Primark’s biggest Greater Manchester stores in the run-up to Christmas.
As the temperatures turn colder by the day, the nights draw in, and the most wonderful time of the year nears closer and closer, it won’t be long before it’s time to snuggle up in our comfies and pop on the first Christmas film of the year – and for some of us, there’s a good chance that first film of choice will be The Grinch.
Whether you prefer the 2000 fantasy comedy starring Jim Carey, or the 2018 animated reboot with Benedict Cumberbatch, it’s undoubtedly a real family favourite.
To celebrate everyone’s favourite grumpy green grouch, Primark has teamed up with Dr. Seuss once again on a Grinch-tastic collaboration.
Festive Grinch-themed cafes have popped up inside Greater Manchester Primark stores / Credit: Supplied
Shoppers can now head to their nearest Primark store to find the largest-ever Grinch collection, with something for the whole family, as well as great gifting options said to be “ideal for getting into the anti-Christmas spirit”.
There’s Grinch pyjamas and slippers for both adults and kids, a Grinch ‘Onesie’ that’s sure to make people green with envy, Grinch drinks cups and mugs, a selection of loungewear and Christmas jumpers for festive dressing, and so much more, as well as whole host of Grinch-inspired outfits and toys for your four-legged friends too.
As part of Primark’s aim to offer affordable choices for everyone, prices for the Grinch collection start at just £1 for accessories, and go up to £24 for adult clothing.
If the return of the Grinch collection wasn’t exciting enough as it is, the all-new Grinch cafes – which are popping up in Primark on Market Street in Manchester city centre, as well as Primark in Trafford Palazzo – are bound to be hit with fans of the furry character.
There’s everything from green waffles and themed milkshakes, to festive toasties, hot drinks, and more on the menu.
With Greater Manchester Grinch cafes set to be open until the end of December, Sarah Jackson – who is the Director of Licensing at Primark, said: “We’re so excited to roll out our amazing cafe experience across a number of our UK locations, bringing a sprinkle of mischief to our customers this festive season.
“Whether you’re stopping in for a sweet treat or stocking up on pyjamas and gifts for the whole family, we have everything you need to make it a truly unforgettable Grinch-mas.”
Danny Jones -
23rd September 2022 
