v
UK government borrowing soared to £8.8bn in
last month
v Uber
Drivers are “NOT self-employed, Supreme Court Rules
v Free
Property Training For Money Tips Followers – Could 2021 Be Your Year?
UK government borrowing soared to £8.8bn in last month,
the highest January figure since records began in 1993, reflecting the cost of
pandemic support measures.
Annual borrowing for the financial year reached a whopping
£270.6bn, £222bn more than a year ago, said
the Office for National Statistics (ONS).
This is the first time in 10 years that more has been
borrowed in January than collected in taxes and other income. January is
usually a bumper revenue-raising month, as taxpayers submit their
self-assessment returns.
Tax income plummeted by less than £1bn, while the British government
splashed out £19.7bn more than last year on measures such as furlough.
The spending of taxpayer’s money, QE and borrowing will eventually
have to be repaid through higher taxes or increased economic activity if the
lockdown is lifted quickly. As retail sales fell through the floor last year, Conservative
backbench MPs are putting pressure on the government to ease lockdown
restrictions and open up the economy by Easter.
Uber Drivers are “NOT self-employed, Supreme Court Rules
Landmark ruling will have far reaching repercussions for the
GIG economy and taxation of businesses which “employ” staff on “self-employed”
basis.
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