26 February 2021: The Chancellor needs to build a bridge to economic recovery in his first Budget on Wednesday, focusing on jobs, exports and investment. But with the OBR’s official projections showing public debt to be on an unsustainable path, what vision will he set out for the public finances in the long-term?
24 February 2021: Economies across the world are at a crossroads. ICAEW President David Matthews outlines the scale of the challenges we now face and comments on the investment that will support recovery and change.
22 February 2021: The UK reported an £8.8bn fiscal deficit in January, bringing the total shortfall over ten months to £270.6bn. Public sector net debt is up by £316.4bn and now exceeds £2.11tn.
Ahead of the 2021 Budget, ICAEW members believe that the Chancellor should avoid major tax changes, encourage job creation, help SMEs to keep exporting, accelerate digital infrastructure rollout and soften the business rates cliff edge to help businesses cope with the continued challenges of the pandemic, while positioning the country for recovery in the longer term.
18 February 2021
The Q1 Business Confidence Monitor (BCM) shows business confidence recovering back into positive territory, but still very weak, as companies are concerned over their future sales with continued high inflation and interest rates. There are also worries over how tight government fiscal policy will need to be, in the months and years ahead.
15 February 2021: Ahead of Budget 2021, three-quarters of chartered accountants have said they do not want to see major changes, according to new research from ICAEW. Instead, members have called for more focus on creating jobs and supporting trade relationships.
5 February 2021: This week's chart focuses on the Japanese economy as it seeks to return to relative fiscal normality in the year commencing 1 April 2021, following multiple supplementary budgets in its current financial year.