The budget doesn't just have ramifications on the Treasury - other parts of the economy will feel the effects of the announcements for months and years to come. Taking a look at specific policies, Sky's specialist correspondents have broken down what Rishi Sunak 's headline speech means in their areas. Please use Chrome browser for a more accessible video player Budget 2021: What did Rishi Sunak announce? Get more live budget updates here Sunak wants to stave off unemployment and give confidence to businesses By Paul Kelso, business correspondent Advertisement Like the rest of us, Rishi Sunak probably wanted to look forward to life after COVID , but the continued grip of the virus on the UK did not give him, or us, that luxury. So this Budget was most significant for being yet another emergency statement, committing £65bn to broadly extend state support to business and individuals for another seven months to … [Read more...] about Budget 2021: Climate, health and culture – what are the wider impacts of the budget?
Rishi Sunak today presented yet another £65billion of Covid support in his annual Budget. The Chancellor extended most schemes until September and gave businesses another shot in the arm as they wait for a vaccine. But all that help comes at a cost, and we're not just talking about a hike in Corporation Tax. A stealth tax hike on working Brits will raise £8bn a year and schemes could run out in September while 2million are still furloughed. The Budget speech is always a triumphant affair, burying the awkward details to a few lines or none at all. To get a real feel for what's going on, you must read the hundreds of pages of documents slipped out when the Chancellor sits down. We're still trawling through the mammoth pile of Budget documents, including analysis from the Office for Budget Responsibility watchdog (OBR). But here are the biggest surprises in the small print that have leaped out at us so far. 1. NHS spending overall looks set to be cut Rishi Sunak said … [Read more...] about Budget 2021: 11 surprises hidden in the small print from ‘NHS cut’ to Brexit
The chancellor has vowed to build a "fairer" country in memory of those who have died during the coronavirus pandemic. In an unprecedented Downing Street news conference following his 2021 Budget , Rishi Sunak acknowledged the victims and said financial support will continue long after COVID-19 restrictions end. Follow live coverage in the wake of Rishi Sunak's budget Budget 2021: All the key points He said: "To the family and friends left behind, your loss - felt most acutely in the quietest of moments - must be overwhelming. "But I promise you we will meet this moment with the passion and energy it demands, and we will build a fairer and more just country in their memory. Our recovery begins today." Advertisement He added: "It is going to take us a long time to fully recover from the damage coronavirus has done to our economy." Subscribe to the Daily podcast on Apple Podcasts , Google Podcasts , Spotify … [Read more...] about Budget 2021: Corporation tax rise and threshold freeze as Sunak vows to build ‘fairer’ UK in COVID victims’ memory
The budget was chock full of announcements - including on the furlough scheme, Universal Credit and stamp duty. But there were some things missing from Rishi Sunak's big economic statement to MPs on Wednesday. Sky News takes a look at what was not in the 2021 Budget . Budget 2021: All the key points NHS The health service has never been far from the headlines over the last year as Britain battles coronavirus. Advertisement But there were just two mentions of the NHS in Mr Sunak's budget speech: the chancellor said it was "deserving of immense praise" for the vaccine rollout and cited the government's previous promise to "keep our NHS strong". There was no mention of funding for the health service, although Mr Sunak said in his autumn statement in November that the NHS's core budget would increase by £6.6bn in the next year and a further £3bn would be provided to support its recovery. More from Budget 2021 … [Read more...] about Budget 2021: What wasn’t in Chancellor Rishi Sunak’s economic statement
A huge plunge in oxygen levels will wipe out most life on Earth in around a billion years' time, scientists warn. It means the planet would return to an inhospitable methane-rich environment comparable to that of the early Earth. US and Japanese researchers predicted how our planet's atmosphere will change in light of several processes related to biology, geology and climate. They found rising solar brightness will affect surface temperatures and photosynthesis and cause rapid atmospheric deoxygenation. In their paper, published in the journal Nature Geoscience, the researchers wrote: " We find that future deoxygenation is an inevitable consequence of increasing solar fluxes." As the sun brightens, surface temperatures will rise and photosynthesis will fall, the scientists say. This will happen before so-called moist greenhouse conditions appear, where water will irreversibly leak from the Earth's atmosphere, the research shows. In addition, the findings suggest that … [Read more...] about Most life on Earth will be ‘gone in a billion years after oxygen levels plummet’