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.
The Greater Manchester high street that now has THREE great wine bars in a 200m stretch
Daisy Jackson
A popular suburb of Greater Manchester seems to be having a bit of a wine bar moment – and for once, we’re not talking about Stockport.
Prestwich has a buzzing little food and drink scene, and just this week has welcomed a brand-new wine bar.
That brings the total number of wine bars in the village to three – and they’re all in just a 200m stretch of the high street.
The latest addition is Cellar Door, headed up by siblings Ben and Sarah and sitting side-by-side with acclaimed neighbourhood restaurant The Pearl.
Cellar Door joins long-standing favourite Whole Bunch Wines (formerly known as Grape to Grain) and the new-ish Chin Chin, which comes from the same team behind Elnecot in Ancoats.
And beyond that, The Pearl has a ‘wine window’ where they’ll pass your drink out to you to drink on their pavement bistro tables.
If you much prefer a decent glass of wine instead of a pint, Prestwich is becoming the new hotspot for a bar crawl.
Read on for more on each of these brilliant independent businesses.
Cellar Door
Cellar Door is the newest wine bar to open in Prestwich. Credit: The Manc Group
The newest wine bar on the Prestwich high street is Cellar Door, opened just this month by brother and sister Ben and Sarah.
It’s their first project together and is stocked with more than 200 different wines, plus plenty of beers (including some local names), selected batched cocktails served ice-cold, and a menu of nibbles too.
Spanning two floors, there’s a sunny balcony upstairs for sunnier days, but in the meantime, get cosy in a booth with a glass of something from their VAST vino collection.
Whole Bunch Wines (formerly Grape to Grain) wine shop in Prestwich. Credit: The Manc GroupWhole Bunch Wines (formerly Grape to Grain) wine shop in Prestwich. Credit: The Manc Group
An ‘off licence with a difference’, Whole Bunch Wines (which used to be known as Grape to Grain) is Prestwich’s original spot for a wine.
Almost a decade old now, Whole Bunch Wines has a proper enomatic wine machine which means you can have a glass of their chosen bottles each week (without committing to a full bottle – though no judgement if you do want to do that too).
They also have a counter stuffed with cheese, meat and fresh bread so you can customise yourself a deli board.
There’s not much better than grabbing a bottle to take away from Whole Bunch, then changing your mind and cracking it open sat on one of the barrel tables outside instead.
Last but definitely not least on this mini wine crawl around Prestwich is Chin Chin.
This lovely spot comes from the team behind Elnecot, who initially opened it as Dokes Pizzeria (but then Rudy’s opened up opposite and honestly, who can be arsed) before pivoting it to be a wine bar.
There’s jazz vinyls playing, an enormous selection of rotating wines, a smart interior of tiled tabletops and moody red paint, and – a weekly highlight for locals – Sunday Sessions with roast dinner-inspired sandwiches and £4 pints.
Manchester City hit with backlash from season ticket holders after ‘divisive’ North Stand update
Danny Jones
Manchester City have shared a new update on the impending North Stand expansion and concourse upgrade, but the most recent reveal has been met with plenty of backlash from supporters set to suffer the consequences.
The Etihad is currently undergoing a major transformation that will see numerous new facilities added to the wider campus experience – most notably the increased capacity of the North Stand, which will make room for a further 7,000 or so fans.
Back in March, the club revealed the official brand partners for their upcoming on-site hotel, which will also accompany a new sky bar and rooftop stadium walk experience as part of the wider plans, but while adding more seats and things for matchgoers to do sounds good on paper, it’s come at a cost for many.
Reacting to the news of social media, many regular fans are now set to be forced out of their seats to make way for more hospitality sections at the end of the stadium, meaning the post has proved ‘divisive’ to say the least.
Are you joking? I’ve sat in the same seat for almost 20 years and this is how I find out I’m ‘relocating’. It’s an absolute disgrace the way you’re treating loyal fans in favour of tourists. I was there when we were shit, do you think they will be here if we go to shit again?
As you can see, both Blues, neutrals, and even rivals alike are expressing their shock and disappointment in not only the decision but the manner in which the announcement was made.
One person said on X: “You turfed me and hundreds of others out of our seats four seasons ago when you dug them up for digital signage. We were all split up and had to scrape around for new seats. Had enough of all the new rules and digital tickets/transfers. I sit on my sofa now and save £3k.
Reply in the comments underneath the response, a Manchester United fan added: “I don’t like City, but this is something I can stand with [fans] on.”
Even well-known online commentators like ‘HLTCO’ (Hopkin Looking To Curl One), a.k.a. Dan Cook – a notable Crystal Palace die-hard – shared his two cents online.
“Man City season ticket holders are being told that they’re being permanently moved from the seats they’ve had for years to accommodate a new corporate seating area”, he wrote, adding: “This is the sort of thing that fans everywhere have to push back against; these clubs see us as a nuisance.”
In terms of what the stadium overhaul looks like, the latest CGIs show the first proper glimpse of the new ‘Cross Bar’ that will “offer a relaxed, social atmosphere” for around 300 fans, as well as the new ‘City Hall’ concourse area, which will cater to around 500 punters both on game-days and beyond.
As detailed in the full statement on the club website, they have insisted that they will be supporting those “may need to move seats ahead of the commencement of the 2026/27”, clarifying that no one will need to be relocated to accommodate the Cross Bar, specifically.
They go on to add: “We understand that relocating seats may be unsettling, and we are here to support these fans”. They have promised things like a “priority relocation window” and, most crucially, a guarantee that they won’t have to pay more to sit in what is typically a more expensive stadium block.
However, while they have also assured that people will be able to move groups of seats so as to stay around their friends, as explained by a user above, this is easier said than done and ticket uncertainty remains a big concern among the fan base.
What do you make of the latest Etihad Stadium news, City fans?
Danny Jones -
23rd September 2022 
