Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Mini-budget 2022 highlights: a summary of the key points

by September 23, 2022
September 23, 2022
Mini-budget 2022 highlights: a summary of the key points

Here are the main points of Kwasi Kwarteng’s fiscal statement on the government’s economic plan to drive down inflation and cut taxes to bolster growth.

Energy bills

Energy bills for households have been capped at an average of £2,500 a year for two years, a £1,000 saving at current energy prices.

Bills have also been capped for six months for businesses, charities and public sector organisations such as schools and hospitals from October.

An energy markets financing scheme will allow banks to be funded to provide emergency liquidity to energy traders. The cost of the energy measures will be £60 billion for the six months from October.

Taxes

The planned rise in corporation tax from 19 per cent to 25 per cent from next April has been scrapped to support business investment. At 19 per cent it is the lowest in the G20. It is an attempt to help to stop Britain from appearing unattractive to businesses that might otherwise set up operations in the European Union or the United States.

Growth

The government is aiming to achieve a trend growth rate of 2.5 per cent for the UK economy.

Legislation is to be introduced to accelerate the delivery of around 100 major infrastructure projects, including transport, energy and digital schemes, to reduce unnecessary bureaucracy in the system and help drive growth.

The government is in talks with 38 local and mayoral combined authority areas in England to set up new investment zones. The zones will offer targeted and time-limited tax cuts for businesses in a bid to increase productivity and create jobs. Work will also begin with Scotland, Wales and Northern Ireland to agree zones in these locations.

The annual investment allowance for businesses will be permanently set at its highest level of £1 million from April 1 nest year. This will give 100 per cent tax relief to businesses on their plant and machinery investments up to the level of £1 million.

Read more:
Mini-budget 2022 highlights: a summary of the key points

0
FacebookTwitterGoogle +Pinterest
previous post
Chancellor scraps 45p top rate of income tax
next post
Racecourse takings jump post-Covid

You may also like

KFC announces £1.5bn UK investment to upgrade restaurants...

May 27, 2025

This is Milk hires fresh talent with 15...

May 26, 2023

M&S reopens online orders after cyberattack disruption

June 10, 2025

Time is running out for firms to grasp...

September 20, 2022

The Best High RTP Slots: Maximize Your Winning...

December 7, 2024

IG Group becomes first UK-listed firm to offer...

June 2, 2025

Why More Businesses Are Choosing a Fractional CMO...

July 19, 2025

7 Hidden Corners of Thailand Worth Adding to...

June 21, 2025

Three Viable Alternative Business Financing Methods

September 24, 2024

Scrapping VAT-free shopping for tourists costs UK £11bn

January 31, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump’s Blast of Hot Air on Flag Burning

      August 25, 2025
    • The AI Action Plan: The Risks of Federal Ideological Bias Action

      August 25, 2025
    • Bolton unleashes on Trump Ukraine policy days after FBI raid

      August 25, 2025
    • Trump threatens lawsuit over century-old Senate tradition delaying his nominees

      August 25, 2025
    • Trump threatens lawsuit over ‘blue slips’ as top GOP senator bucks demand to bend Senate rules for nominees

      August 25, 2025
    • Trump touts Kim Jong Un relationship amid South Korea summit

      August 25, 2025

    Categories

    • Business (8,876)
    • Investing (2,239)
    • Politics (16,485)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved