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2018 United Kingdom Budget
The 2018 United Kingdom budget was delivered by Philip Hammond, the Chancellor of the Exchequer, to the House of Commons on Monday, 29 October 2018. It was Hammond's third as Chancellor of the Exchequer since being appointed to the role in July 2016, and his last before being replaced by Sajid Javid by means of Boris Johnson's cabinet reshuffle upon becoming prime minister in July 2019. Following the budget in March 2017 the government moved the annual budget to the Autumn, with the following budget held on 22 November of the same year. On 26 September 2018, Hammond announced that the 2018 budget would be held earlier, in October, so as to avoid clashing with the final stage of Brexit negotiations. On 28 October he suggested that a second budget would be needed in the event of a failure to negotiate a Brexit deal, since the scenario would require a "different response", with a need for "fiscal buffers" to provide support for the economy. Delivering the budget, Hammond said t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of MPs Elected In The 2017 United Kingdom General Election
In the United Kingdom's 2017 general election, 650 Members of Parliament (MPs) were elected to the House of Commons – one for each parliamentary constituency. A record number of women (208) were elected as MPs. Parliament consists of the House of Lords and the elected House of Commons. The State Opening of Parliament at the Palace of Westminster by Queen Elizabeth II was on 21 June 2017. The subsequent parliamentary session was the longest since the formation of the United Kingdom in 1707, and the longest to sit at Westminster since the Long Parliament in the 17th century. The second and last parliamentary session however was the shortest since October 1948, lasting less than a month, from 14 October 2019 until Parliament dissolved at 00:01 on 6 November 2019. Notable newcomers to enter the House of Commons in this General Election included future Secretary of State for Scotland Alister Jack and future Scottish Conservative leader Douglas Ross. For the opposition, newcome ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Government Austerity Programme
The United Kingdom government austerity programme is a fiscal policy that was adopted for a period in the early 21st century following the Great Recession. The term was used by the Coalition and Conservative governments in office from 2010 to 2019, and again during the 2021–present United Kingdom cost of living crisis. The Conservative Party (UK), Conservative-led government claimed that austerity served as a deficit reduction programme consisting of sustained reductions in public spending and tax rises, intended to reduce the Government budget balance, government budget deficit and the role of the welfare state in the United Kingdom. Some commentators accepted this claim, but many scholars have observed that in fact its primary, largely unstated aim, like most austerity policies, was to restore the rate of profit. Successive Conservative governments claimed that the National Health Service and education have been "Ringfencing, ringfenced" and protected from direct spending c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Budgets
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
October 2018 Events In The United Kingdom
October is the tenth month of the year in the Julian and Gregorian calendars and the sixth of seven months to have a length of 31 days. The eighth month in the old calendar of Romulus , October retained its name (from Latin and Greek ''ôctō'' meaning "eight") after January and February were inserted into the calendar that had originally been created by the Romans. In Ancient Rome, one of three Mundus patet would take place on October 5, Meditrinalia October 11, Augustalia on October 12, October Horse on October 15, and Armilustrium on October 19. These dates do not correspond to the modern Gregorian calendar. Among the Anglo-Saxons, it was known as Winterfylleth (Ƿinterfylleþ), because at this full moon, winter was supposed to begin. October is commonly associated with the season of spring in parts of the Southern Hemisphere, and autumn in parts of the Northern Hemisphere, where it is the seasonal equivalent to April in the Southern Hemisphere and vice versa. October ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IR35
IR35 refers to the United Kingdom's anti-avoidance tax legislation, the intermediaries legislation contained in Chapter 8 of Income Tax (Earnings and Pensions) Act 2003. The legislation is designed to tax 'disguised' employment at a rate similar to employment. In this context, "disguised employees" means workers who receive payments from a client via an intermediary, i.e. their own limited company, and whose relationship with their client is such that had they been paid directly they would be employees of the client. Under Chapter 8, the worker of the limited company is responsible for assessing their IR35 status under the rules and paying the appropriate National Insurance and Income Tax to HMRC. New legislation was introduced on 6 April 2017 (Chapter 10 Income Tax (Earnings & Pensions) Act 2003) to make public sector organisations responsible for assessing whether an individual providing services for their organisation on a contract basis fell under IR35 rules, and for paying ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office For Budget Responsibility
The Office for Budget Responsibility (OBR) is a non-departmental public body funded by the UK Treasury, that the UK government established to provide independent economic forecasts and independent analysis of the public finances. It was formally created in May 2010 following the general election (although it had previously been constituted in shadow form by the Conservative party opposition in December 2009) and was placed on a statutory footing by the Budget Responsibility and National Audit Act 2011. It is one of a growing number of official independent fiscal watchdogs around the world. Richard Hughes, former Director of Fiscal Policy at HM Treasury, has been head since October 2020. Functions The UK government created the OBR in 2010 with the goal of offering independent and authoritative analysis of the UK's public finances. To that end it produces two 5-year-ahead forecasts for the economy and the public finances each year, alongside the Budget and Spring Statements. In it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Guardian
''The Guardian'' is a British daily newspaper. It was founded in 1821 as ''The Manchester Guardian'', and changed its name in 1959. Along with its sister papers ''The Observer'' and ''The Guardian Weekly'', ''The Guardian'' is part of the Guardian Media Group, owned by the Scott Trust. The trust was created in 1936 to "secure the financial and editorial independence of ''The Guardian'' in perpetuity and to safeguard the journalistic freedom and liberal values of ''The Guardian'' free from commercial or political interference". The trust was converted into a limited company in 2008, with a constitution written so as to maintain for ''The Guardian'' the same protections as were built into the structure of the Scott Trust by its creators. Profits are reinvested in journalism rather than distributed to owners or shareholders. It is considered a newspaper of record in the UK. The editor-in-chief Katharine Viner succeeded Alan Rusbridger in 2015. Since 2018, the paper's main news ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resolution Foundation
The Resolution Foundation is an independent British think tank established in 2005. Its stated aim is to improve the standard of living of low- and middle-income families. Appointments In June 2015, the former Conservative Party (UK), Conservative MP David Willetts took over as executive chairman. At the same time, Torsten Bell, a former senior advisor to Ed Miliband, was appointed as the organisation's director to lead what the Foundation described as "an expanded programme of work". , Willetts is president of the Foundation's Advisory Council and Intergenerational Centre, and Bell is chief executive. Prior to the appointment of Willetts and Bell, the organisation was led by a chief executive: Sue Regan from 2005 to 2010; Gavin Kelly from 2010 to 2015. Kelly then became the CEO of the Resolution Trust, which is the think tank's primary funder. Publications The Foundation has hosted a number of major reviews. The Commission on Living Standards, chaired by Clive Cowdery, ran f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institute For Fiscal Studies
The Institute for Fiscal Studies (IFS) is an economic research institute based in London, United Kingdom, which specialises in UK taxation and public policy. It produces both academic and policy-related findings. The institute's aim is to "advance education for the benefit of the public by promoting on a non-political basis the study and discussion of and the exchange and dissemination of information and knowledge concerning national economic and social effects and influences of existing taxes and proposed changes in fiscal systems." It is located in the Bloomsbury area of Central London close to the British Museum and University College London (UCL). History The institute was founded in response to the passing of the Finance Act 1965, by four financial professionals: a banker and later Conservative Party politician ( Will Hopper), an investment trust manager (Bob Buist), a stockbroker (Nils Taube), and a tax consultant (John Chown). In 1964, the then Chancellor of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Johnson (economist)
Paul Gavin Johnson CBE (born 5 January 1967) is a British economist and civil servant, currently serving as Director of the Institute for Fiscal Studies, a member of the Committee on Climate Change, and a visiting professor in Economics at the Department of Economics, University College London. Life The son of Robert and Joy Johnson, he was educated at Kings Manor School, Shoreham-by-Sea, then at Keble College, Oxford, where he held a college scholarship and gained a First in Politics, Philosophy, and Economics, and finally at Birkbeck College, London, where he graduated with an MSc in Economics.Curriculum Vitae Paul Gavin JOHNSON at ifs.org.uk, accessed 18 April 2015'Johnson, Paul Gavin', in ''Who's Who 2015'' (London: A. & C. Black, 2015) His first job was at the Institute for Fiscal Studies, wher ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fifty Pence (British Coin)
The United Kingdom, British decimal fifty pence coin (often shortened to 50p in writing and speech) is a denomination of Coins of the United Kingdom, sterling coinage worth one half of a pound sterling, pound. Its Obverse and reverse, obverse features the profile of the current Monarchy of the United Kingdom, Monarch since the coin's introduction in 1969. , five different royal portraits have been used. there were an estimated 920 million 50p coins in circulation. The coin has proved popular with coin collectors leading to numerous differing designs for both commemorative and circulating coins. Fifty pence coins are legal tender for amounts up to the sum of £10 when offered in repayment of a debt; however, the coin's legal tender status is not normally relevant for everyday transactions. History In 1967 the Deputy Master of the Royal Mint approached the Decimal Currency Board to ask for their advice on the introduction of a new coin. The 10-shilling note then in use was lastin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Universal Credit
Universal Credit is a United Kingdom social security payment. It is means-tested and is replacing and combining six benefits for working-age households with a low income: income-related Employment and Support Allowance, income-based Jobseeker's Allowance, and Income Support; Child Tax Credit and Working Tax Credit; and Housing Benefit. An award of UC is made up of different elements, which become payable to the claimant if relevant criteria apply: a standard allowance for singles or couples, child elements and disabled child elements for children in the household, housing cost element, childcare costs element, as well as elements for being a carer or having an illness or disability and therefore having limited capability to work. The new policy was announced in 2010 at the Conservative Party annual conference by the Work and Pensions Secretary, Iain Duncan Smith, who said it would make the social security system fairer to claimants and taxpayers. At the same venue the Welfare R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
