23 Sep NEWS
HEYBURN BENNETT NEWS AND VIEWS – SEPTEMBER 2022
Hi there and welcome to autumn!
Well since last month’s blog we not only have a new Prime Minister, but we have also moved from the Elizabethan era to the Carolean age. What an inspiration Queen Elizabeth II has been, and the early signs are that King Charles III will be a worthy successor.
It was encouraging to have the nation come together over the last 2 weeks and it is clear that whilst we are by no means perfect, we did display to the world that we remain a united people.
It is a shame that we’re now back to normal, with the next round of scaremongering by the divisive media.
At the time of writing, a mini-budget is imminent. The content is not known to us, but it is clear that there will be tax cuts across the board. This will be welcome of course, but the books do need to balance and it is feared that these cuts will breach the fiscal rule that requires national debt to fall as a share of national income between 2024 and 2025.
It is hoped however, that these tax cuts will kick-start the economy, thus raising more taxes naturally. After all, 19% of something is better than 25% of nothing!
Of course, tax cuts are not the panacea, just part of a series of problems that need to be addressed in order to avoid a winter of discontent. Inflation, cost of living, strikes, energy prices and the Ukraine war are all issues with varying ideas on how to resolve them, depending on your political viewpoint. Let’s hope that sensible progress can be made and that the people that matter actually talk to each other in a constructive matter, instead of what seems to have been up to now provocative rhetoric via the media.
The full Budget is expected to be in November and we’ll then make available our normal Budget booklet. In the meantime, stay safe and well.
Mark, Dave & the team