Site icon Daily Business

Week ahead: Budget and employment data

Jeremy Hunt
Jeremy Hunt presents his Budget

Chancellor Jeremy Hunt is expected to unveil a package of “Back to Work’ measures in Wednesday’s Budget to encourage economically inactive people into the workforce to help fill more than a million vacancies.

The programme will require hundreds of thousands of benefits claimants to attend more regular meetings with work coaches.

The government will start paying childcare costs on Universal Credit up front, rather than in arrears.

Mr Hunt will also unveil a new tax allowance to replace the super deduction, and is expected to freeze fuel duty, raise the annual and lifetime pension allowances and confirm investment in carbon capture and nuclear expansion.

There will also be a crackdown on those promoting tax avoidance, with tougher penalties for offenders. The UK loses around £400 million a year to marketed tax avoidance, and it is the users of schemes, including agency workers, contractors and freelancers, who can end up with big tax bills, rather than the promoters who sold it to them.

There will be reforms to energy bills, bringing the bills of families on prepayment meters in line with average direct debit energy bill under the Energy Price Guarantee.

UK employment data is due on Tuesday, while the European Central Bank is expected to hike interest rates by 50 basis points on Thursday and indicate that it will continue to hike aggressively to press down on inflation.

Prudential’s shares are up by almost a quarter over the past year, helped by the end of lockdowns in China and Hong Kong, as well as more buoyant financial markets in Asia and indeed worldwide. It reports full-year results on Wednesday.

Monday 13 March

Tuesday 14 March

Wednesday 15 March

Thursday 16 March

Friday 17 March

Exit mobile version