Experts are preparing to dissect what will be one of the most pivotal monetary plans in UK history following Monday’s Budget presentation by Chancellor Jeremy Hunt.
In the wake of confirmation that former chancellor Rishi Sunak is taking over as Prime Minister, Herald readers will get the chance to discuss the implications of the new leadership’s economic policies at the Herald Budget Briefing. A panel of business professionals chaired by Herald columnist and political commentator Brian Taylor will provide a summary of the key issues raised by the latest plans for taxation and spending.
Financial markets were thrown into chaos after Mr Hunt’s predecessor, Kwasi Kwarteng delivered his mini-Budget on September 23. This included billions in unfunded tax cuts intended to spur economic growth.
Mr Kwarteng was sacked as Chancellor on October 14 and replaced by Mr Hunt, who swiftly reversed most of the tax cuts in the mini-Budget. Liz Truss then resigned as Prime Minister after just 44 days in office.
The breakfast briefing is sponsored by Azets UK, Rathbones, and Wright Johnston & Mackenzie LLP and will begin at 9am on November 1, the day after Mr Hunt is due to put forward his plans. Panellists include Azets tax partner Katy Thomson, Rathbones regional director Adam Drummond and Graeme Sands, head of business products and lending at Virgin Money UK.
“I am delighted to be joining with such an interesting panel to discuss the budget,” Mr Drummond said.
“It has been a period of huge upheaval over the last few months, with changes in interest rates and then several changes in budget plans, and I am very much looking forward to discussing how this will impact savers and investors going forward.”
Mr Sands said he and colleagues at Virgin Money were looking forward to hosting the breakfast briefing: “After the events of the last few weeks it seems likely to generate a really interesting discussion, not only about its implications for the domestic economy but also the reaction to it by global markets.”
Katy Thomson, tax partner at Azets, said: "With a new UK Prime Minister in place and a reversal on most of the 'Mini-Budget', Scottish businesses will be hoping for some certainty and firm plans on the economic outlook in the months ahead. There has never been a more crucial time for the Chancellor to clearly highlight what the future looks like for SMEs. The Herald Budget Briefing Breakfast will create a space for business leaders to come together to discuss the impact of the announcements on 31 October and how businesses can move forward with their strategic business plans."
The Herald Budget Briefing 2022 will take place in Glasgow, with tickets priced at £10 plus VAT. To reserve a place, email events@newsquestscotlandevents.com.
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