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Rishi Sunak hints at a business-friendly budget

BRITAIN’S new finance minister Rishi Sunak is preparing the government’s first post-Brexit budget to be presented on March 11.

The Chancellor of the Exchequer was very pro-active on updating his activities related to budget on Twitter.


His latest tweet hints at a business-friendly budget. The businesses in the country are having an uncertain time owing to Brexit. It is anticipated that the budget will be in line with the expectations of the business fraternity.

“Great meeting this morning with business leaders to discuss our plans to unleash Britain’s potential. I promise I didn't look this serious the whole time,” Rishi Sunak tweeted.

On February 18, when he first tweeted about the preparations for budget, just a few days after assuming the office, he promised that the budget “will deliver on the promises we made to the British people”.

He further said “levelling up and unleashing the country’s potential” will be the priority.

Since then he tweeted often with #Budget2020. Once he landed into controversy with one of his budget tweet.

“Quick Budget prep break making tea for the team. Nothing like a good Yorkshire brew,” he tweeted on February 21.

The visual of a large bag of Yorkshire Tea and an endorsing line—“Nothing like a good Yorkshire brew”—that accompanied it has stirred a large controversy.

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UK pay rises

Research shows pay awards have stayed at the joint lowest level since December 2021.

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UK pay rises hold steady at lowest level in nearly four years, survey finds

Highlights

  • Median pay rises hold at 3 per cent the lowest level in nearly four years, IDR survey shows.
  • Public sector wages overtake private with 4 per cent median awards as workers catch up after years of lag.
  • Employers plan cautious settlements amid budget uncertainty and rising social security costs.

British workers are seeing pay settlements remain at their lowest level in nearly four years, with median pay rises holding steady at 3 per cent in the three months to September, according to new research.

The figures from Incomes Data Research (IDR), released ahead of the Bank of England's interest rate decision, show pay awards have stayed at the joint lowest level since December 2021. The survey covered 35 pay deals affecting nearly 800,000 employees between July and September.

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