“Jeremy Hunt will on Wednesday announce billions of pounds to boost business investment and measures to bolster Britain’s workforce, including a big expansion in free childcare, in a “Budget for growth”. The chancellor has pledged that business will be the main beneficiary of any tax cuts in his Budget, but he is constrained by a tough fiscal backdrop and a vow to hold down spending to tame inflation. One big area of spending will be a £4bn expansion of free childcare for parents of one and two-year-olds in England, a move intended to help parents return to the workplace earlier, government officials said… One Tory official said Hunt’s statement would be deliberately cautious and regarded as “a Budget for wonks”…” – The Financial Times
>Editorial and Comment:
>Today:
“Jeremy Hunt will deliver his maiden Budget on Wednesday against a backdrop of falling global inflation and lower predicted borrowing costs as pressure grows for him to abandon a tax raid. The Chancellor will pledge to deliver “long term, sustainable growth” a day after official figures showed US inflation fell in February, in a boost for hopes that a downturn in developed economies can be avoided. Data showed price rises falling from an annual rate of 6.4pc in January to 6pc in February, cementing bets that the Federal Reserve will not have to step up the pace of rate increases to keep a lid on prices. Lower American borrowing costs are likely to bring down the peak for interest rates across the Western world.” – The Daily Telegraph
“The energy price guarantee will be extended for a further three months from April to June at its current level, capping average annual household bills at £2,500, the Treasury has confirmed. The three-month extension of the energy price guarantee (EPG) at its current level will save a typical household around £160, the Government said. Prime Minister Rishi Sunak said: ‘We know people are worried about their bills rising in April, so to give people some peace of mind, we’re keeping the energy price guarantee at its current level until the summer when gas prices are expected to fall. Continuing to hold down energy bills is part of our plan to help hardworking families with the cost of living and halve inflation this year.’ The EPG had been due to rise to £3,000 in April…” – The Daily Mail
“Jeremy Hunt will use his first budget to push for growth by extending free childcare provision to all children aged one and two and giving businesses a three-year multibillion-pound package of tax breaks. The chancellor will provide 30 hours of free childcare to parents of toddlers as he seeks to “break down the barriers” to work. He will also increase funding for the existing programme of free childcare for parents of those aged three and four. In addition, the government will increase the hourly rate paid to childcare providers and relax staff-to-child ratios to reduce costs. Schools will be given £400 million to provide wraparound childcare… Hunt claimed that the measures would incentivise growth after last year’s financial statement gave priority to “stability and sound money”.” – The Times
“A dozen pioneering high growth Investment Zones giving tax incentives for business are being set up across the UK. Proposals to ‘supercharge’ areas with £80 million of funding over five years to improve skills and local infrastructure will be announced in the Budget. Chancellor Jeremy Hunt plans to “unleash opportunity” in budding industries as part of the government’s ‘levelling-up’ plans. The zones, clustered around universities or research institutions, will aid sectors such as technology, artificial intelligence and the creative sector with cash used to improve the planning system and business support. Eight places in England including Greater Manchester and Tees Valley have been shortlisted to host the zones…” – The Sun
“Jeremy Hunt is set to trigger a Tory back-bench revolt over the Budget as he pushes ahead with a rise in corporation tax, despite warnings it will harm the economic recovery. The Chancellor will defend the 19 to 25 per cent rate rise, which will kick in next month, by arguing that major tax cuts at this time would risk destabilising public finances. Mr Hunt will also try to take the sting out of the rise by unveiling a multi-billion pound scheme allowing businesses to reduce their tax bills by investing in the UK. But there is already a growing backlash, as Conservative MPs warned that the tax increase would have a “chilling effect on the whole economy” if not abandoned. Mr Hunt will use his Budget speech to insist that he has a plan for securing economic growth…” – The Daily Telegraph
“Jeremy Hunt is expected to use his budget today to announce a multibillion-pound three-year package of business tax breaks in an attempt to encourage investment. The chancellor has been criticised by Tory MPs for his plan to increase corporation tax from 19 per cent to 25 per cent from April. Hunt and Rishi Sunak are adamant that the rise will go ahead. But in an effort to limit the impact of the increase, Hunt will allow businesses to offset 100 per cent of investments in infrastructure and factory and machinery assets against profits for tax purposes. The move will enable companies that invest in the UK to significantly reduce their tax bills. One government source said the concession would cost about £7 billion a year over three years.” – The Times
“The former home secretary criticised Rishi Sunak for an “incoherent” tax system, warning that the UK retail landscape is being “absolutely hammered”. Priti Patel has urged the Chancellor not to press ahead with a planned increase to corporation tax, expected to be unveiled in today’s budget. The former home secretary said post-Brexit Britain should be “maximising our freedoms” through cutting taxes and red tape. She warned the UK’s retail landscape is being “absolutely hammered” by “uncompetitive” levels of corporation tax. Chancellor Jeremy Hunt will unveil his budget today, in which he is expected to raise corporation tax … The former home secretary…criticised the Government for excessive “state interference” and “bureaucracy”.” – Daily Express
“Gillian Keegan has written to parents criticising the “disappointing” and “completely unnecessary” school strikes. Heads and teachers responded by accusing the education secretary of creating an impasse by refusing to hold formal talks unless strikes were postponed. Hundreds of thousands of teachers in England are expected to strike this week. Most schools will be at least partly affected. The government expects a similar number of schools to close as during the last teachers’ strike a fortnight ago. About one in 10 were shut, and many others told particular year groups to stay at home. Provision has depended on which unions teachers belong to, though secondary schools have prioritised exam year groups.” – The Times
>Today:
“Michael Gove is preparing to ban three of the UK’s most prominent developers from building projects after they refused to sign a legally binding pledge to fix unsafe cladding. Gove told 11 housing developers that the government would strip them of the right to construct properties unless they undertook to pay for work needed to make buildings they had previously developed or refurbished safe. The companies include Lendlease, an Australian firm redeveloping Euston station; Galliard Homes, London’s biggest privately owned residential property developer; and Telford Homes. The ban is Gove’s latest salvo against an industry he has accused of being too slow to take responsibility for rectifying problems identified in the wake of the Grenfell Tower fire.” – The Times
“Conservative MPs are demanding to see the legal advice for Rishi Sunak’s controversial Channel asylum laws as the threat of rebellion grows. The calls are being led by moderate Tories who have voiced deep concerns about the Illegal Migration Bill potentially breaching international laws, warning it would be a “major problem”. But a senior MP suggested to i that dozens of backbenchers on the Tory right would welcome seeing the legal advice as it would bolster their calls to derogate from European Convention on Human Rights (ECHR), believing it is the only way to make the plan work. Moderate Tories are also likely to try and amend the Bill to expand safe and legal routes and to strengthens the rights of trafficking victims…” – The I
“Boris Johnson is to submit written evidence to the Commons inquiry into whether he misled parliament over partygate within days. The former prime minister will appear before MPs on the Privileges Committee next week to defend himself over the partygate probe. Ahead of that hearing on Wednesday 22 March, Mr Johnson’s legal team will hand over a dossier of written evidence to support his case that he did not mislead MPs over what he knew about lockdown-breaking parties in Downing Street, i understands. Mr Johnson will be grilled by the committee…with questions led by Labour chairman Harriet Harman. The eagerly awaited session is likely to make or break his chances of returning to the political frontline after being ousted by his own MPs last year.” – The I
“BBC editors asked their journalists to avoid using the word “lockdown” in reporting at the start of the pandemic and to be more critical of Labour after pressure from Downing Street, leaked email and WhatsApp messages show. Emails and messages were shown to the Guardian amid concern among some BBC insiders that the corporation has been too cowed by the government in recent years. The messages seen by the Guardian date from 2020 to 2022…One email shows a senior editor informing correspondents that Downing Street was requesting them not to use the word “lockdown” in relation to the shutdown ordered by Boris Johnson on 23 March 2020 – the day the first lockdown was announced.” – The Guardian
“Ron DeSantis said that becoming “further entangled in a territorial dispute between Ukraine and Russia” was not a vital US national interest, in a sign that he would scale back support if he became president. DeSantis, 44, who is believed to be preparing a White House run, criticised President Biden for a “blank cheque” commitment to Ukraine. The Florida governor’s remarks came as Donald Trump, the leading candidate for the Republican nomination, said he was the only politician who could prevent a third world war erupting from the Russian invasion. Trump, 76, said he would end the conflict in less than 24 hours. He did not explain how. Trump and DeSantis are…both…committed to reducing the support Biden has given Kyiv…” – The Times
“Unionists are demanding more changes to Northern Ireland’s post-Brexit deal. DUP leader Jeffrey Donaldson says the Windsor Framework doesn’t deal with some “fundamental problems” prompting new fears over the resumption of power-sharing in the region. His comments come despite saying “significant progress” had been made on problems caused by the Protocol which govern trade rules since Brexit. The new framework replaces the protocol by creating a new system for the flow of goods into Northern Ireland. He led calls for “greater clarity” on how EU rules would affect firms in the province and called for the so-called Stormont brake giving politicians the opportunity to object to new Brussels’ laws to be “effective in law”.” – The Sun
“Can you imagine the joy of never being wrong?…All of us make mistakes. Not so for one illustrious tribe in British politics whose galaxy-brain thinking enables them not just to avoid being wrong at the moment, but also ever to have been wrong at all. I refer to the Centrist Dads – a group of men of a certain age who repeat the worn platitudes of the middle ground of politics again and again until somebody tells them they were right all along. Smug and intellectually lazy, they assume that the middle position must automatically be correct; a sort of compromise between Left and Right. In fact, they suffer from the same logical fallacies as everyone else, albeit with less introspection owing to constantly assuming the moral high ground.” – The Daily Telegraph
“Labour is under fire after one of its front benchers likened the Government to Vladimir Putin’s Russia over the Gary Lineker row. Lucy Powell, the Shadow Culture Secretary, made the remarks as she forced a debate over the controversy, which saw the presenter briefly “step back” from presenting Match of the Day. Lineker last week drew parallels between the language used by Suella Braverman, the Home Secretary, around the new Illegal Migration Bill and Nazi Germany. Downing Street had said his tweet was “not acceptable” but that any disciplinary action was a matter for the BBC, Mrs Braverman deemed the comments “personally offensive” as her husband is Jewish. Marco Longhi…accused Ms Powell of “ignorance and pound-shop politics” in the wake of her tirade.” – The Daily Telegraph
>Today:
“SNP frontrunner Humza Yousaf says that transgender double rapist Isla Bryson is ‘not a genuine trans woman’ and ‘is trying to play the system’. Bryson caused controversy earlier this year after being sent to Scotland’s only female-only prisoner after being convicted of two rapes. The prisoner – who transitioned to a woman after charges were brought – was eventually moved after public outcry. Mr Yousaf’s remarks come after questions of gender identity haunted the final weeks of Nicola Sturgeon’s leadership as she repeatedly stumbled over questions about the double rapist’s sex… Seen as the continuity candidate to succeed Ms Sturgeon, Mr Yousaf last month backed her decision to defend the plan to allow people to ‘self-identify’ as the opposite sex.” – The Daily Mail