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13 Dec 2023

A bike shop that was created to provide jobs for ex-offenders leaving prison has now become a safe space for people to park their bikes.

11 Dec 2023

ACT member On The Brakes in Leigh on Sea, Essex is celebrating after being named independent business of the year in a local competition set up by a local MP to celebrate the “incredible...

11 Dec 2023

A controversial ban on e-bikes in certain pedestrianised parts of Coventry city centre has come into force, with the deputy leader of the council warning that riders can expect strict...

11 Dec 2023

Bike Europe has reported that “serious concerns” remain about the enforcement of a ban on the sale of e-bike chargers and conversion kits by one of the largest online sellers,...

11 Dec 2023

It has been reported that The Cycle Show, the major industry event held at London's Alexandra Palace and which this year celebrated its 20th anniversary, has fallen victim to the challenging...

30 Nov 2023

New research from Lime entitled “Tackling the Gender Pedal Gap” has most women facing barriers to cycling, including poorly lit streets and isolated routes. The report claims...

27 Nov 2023

Torq Zone Academy, a leading institution of vocational training in South Africa, has been re-accredited by the Quality Council for Trades and Occupations (QCTO), for another five years, to offer...

27 Nov 2023

Cycling UK has released its annual 100 Women in Cycling list for 2023, the seventh such initiative to celebrate women across the British cycling community and those who inspire others to cycle.

27 Nov 2023

The former commissioner of the Metropolitan Police, Lord Hogan-Howe, has said number plates should be introduced on the back of bikes to stop so many cyclists being a danger on...

23 Nov 2023

Retail sector leaders have expressed a range of concerns, from taxation to business rates, following the Chancellor’s Autumn Statement this week.

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Energy Bill Relief Scheme for businesses to continue to end of March 2023, Chancellor confirms

Posted on in Business News , Cycles News

The new Chancellor of the Exchequer, Jeremy Hunt, has confirmed in a statement that the Energy Bill Relief Scheme for businesses will continue to the end of March 2023 as planned.

Jeremy HuntHowever, the Chancellor has ordered a Treasury-led review into how to provide energy support to individuals and businesses from April 2023. The Chancellor stated that support should be targeted to businesses that need help most. Businesses are being urged to complete the government’s survey here.

Mr Hunt’s statement included several other announcements regarding last month’s mini-budget.

The Chancellor also announced that:

  • The basic rate of income tax, which was due to be cut to 19%, will now remain at 20%
  • The scrapping of the rise to corporation tax has been abandoned. Corporation tax will rise to 25% in April 2023
  • Reforms to IR35, off-payroll employee pay, and dividend tax reforms have been dropped
  • The introduction of VAT-free shopping for tourists visiting the UK has been scrapped
  • The freezing of alcohol duty rates has been scrapped
  • The 1.25% rise to National Insurance Contributions, to fund the Health and Social Care Levy, will be dropped as planned
  • The Annual Investment Allowance, Seed Enterprise Investment Scheme and Company Share Options Plan will go ahead as planned

The Chancellor will publish the government’s fiscal rules with an OBR forecast, and further economic measures on 31st October 2022.

In his statement, the Chancellor said:

"Any support for businesses will be targeted to those most affected and the new approach will better incentivise energy efficiency."

"The most important objective for our country right now is stability. Governments cannot eliminate volatility in markets, but they can play their part, and we will do so because instability affects the prices of things in shops, the cost of mortgages, and the values of pensions."

"There will be more difficult decisions, I'm afraid, on both tax and spending as we deliver our commitment to get debt falling as a share of the economy over the medium term."

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