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Rishi Sunak bragged that he had started changing public funding formulas (File pic)

Sunak brags of diverting funds from 'deprived areas'

Tory party leadership contender Rishi Sunak proudly told party members he had been working to divert funding from "deprived urban areas" towards prosperous towns.

UK • 05 Aug 22

Rishi Sunak has struggled in the race, partly due to his role in Mr Johnson's resignation and over his record in government

'It's still early days' - UK leadership underdog Sunak

Liz Truss's bid for the leadership of the UK's Conservative Pary was boosted by two surveys giving her massive leads and the backing of former rival Sajid Javid as he attacked Rishi Sunak's more cautious plans for tax cuts.

World • 03 Aug 22

Rishi Sunak and Liz Truss will tour the UK to take part in 12 hustings

Truss and Sunak clash over tax plans in Tory race

The final two politicians vying to be the next British prime minister have come to blows over their fiscal proposals, with Rishi Sunak warning against a "huge borrowing spree" as Liz Truss defended tax-cutting plans worth at least £30 billion a year.

UK • 22 Jul 22

Rishi Sunak's resignation last week helped trigger the fall of Boris Johnson's government

Sunak says inflation, not tax cuts, are his priority

British former finance minister Rishi Sunak said his first economic priority if he becomes prime minister will be tackling high inflation, not the tax cuts pledged by some of his rivals in the race to replace Boris Johnson.

Business • 14 Jul 22

New UK finance minister says economy needs to grow

Britain's new finance minister Nadhim Zahawi said today that the government needed to rebuild and grow the country's struggling economy, and he would look at all options to do that including the possibility of tax cuts.

Business • 06 Jul 22

Rishi Sunak said the new tax would raise £5 billion in the next 12 months and be phased out as oil and gas prices return to normal

UK imposes 25% energy windfall tax to help with bills

Britain has today announced a 25% windfall tax on oil and gas producers' profits, alongside a £15 billion package of support for households struggling to meet soaring energy bills.

Business • 26 May 22

British Finance Minister Rishi Sunak and his wife Akshata Murthy are worth £730m

Sunak and wife make latest Rich List with £730m fortune

Rishi Sunak and wife Akshata Murty have entered The Sunday Times Rich List for the first time with their joint £730m, as the British Chancellor holds out on fresh support to alleviate the cost-of-living crisis for millions of Britons.

Business • 20 May 22

British public-sector net borrowing, excluding state-owned banks, totalled £151.8 billion in the 2021/22 financial year

UK public borrowing above government forecasts

British government borrowing in the recently ended 2021/22 financial year was almost 20% higher than forecast by its own budget office last month, according to figures published today.

Business • 26 Apr 22

British finance minister Rishi Sunak has delivered his Spring Statement today

UK's Sunak cuts taxes to soften cost-of-living hit

British finance minister Rishi Sunak has today cut taxes for workers and reduced a duty on fuel as he sought to soften a severe cost-of-living squeeze against the backdrop of fast-rising inflation and slowing economic growth.

Business • 23 Mar 22

UK finance minister Rishi Sunak will have more cash than he expected a few months ago to soften the impact of a surge in energy costs

UK public borrowing on track to undershoot forecast

British public borrowing with just one month left in the current financial year was less than half its level from a year earlier, official data showed today.

Business • 22 Mar 22

Rishi Sunak addressed the UN COP26 climate conference in Glasgow today

UK sets out how finance can help meet net-zero goals

British finance minister Rishi Sunak told companies today to set out plans by 2023 for a transition to a low-carbon economy, as part of steps to make Britain the world's first net-zero financial centre.

Business • 03 Nov 21

UK finance minister Rishi Sunak today announced forecasts drawn up by the Office for Budgetary Responsibility (OBR)

UK economy on course to grow by 6.5% in 2021 - Sunak

Britain's economy is on course to grow much more quickly in 2021 than predicted earlier this year, finance minister Rishi Sunak said as he began a budget speech today.

Business • 27 Oct 21

UK economic output rose just 0.1% in July, the Office for National Statistics said today

Spread of Delta Covid variant slows UK economy to crawl

The UK economy barely grew in July, rising by just 0.1% from June, the weakest expansion since January when the country went back into strict lockdown rules, official data showed today.

Business • 10 Sep 21

UK public sector net borrowing fell to £22.8 billion in June - the second-highest June figure on record

UK's huge public borrowing falls in June, debt costs up

UK public borrowing last month was almost a fifth lower than a year earlier, when the economy was feeling the full force of the coronavirus pandemic, but rising inflation put upward pressure on debt costs.

Business • 21 Jul 21

Rishi Sunak said Brexit was a unique opportunity to tailor rules while maintaining high regulatory standards and open markets

UK sets out vision for post-Brexit financial services

Britain's finance minister has pledged to "sharpen" the competitive advantage of the UK financial services sector as he set out his vision for its future after the City of London lost business to the bloc after Brexit.

Business • 02 Jul 21

Nationwide said that UK house prices look set to accelerate further as people seek new homes after the pandemic

UK house prices jump by 10.9% in May - Nationwide

UK house prices jumped by an annual 10.9% in May, the most in nearly seven years, and they look set to accelerate further as people seek new homes after the pandemic, mortgage lender Nationwide said.

Business • 01 Jun 21

UK jobless rate unexpectedly falls again

The UK unemployment rate unexpectedly fell for a second month in a row to 4.9% in the months from December to February, most of which the country spent under a tight Covid lockdown, official figures showed today.

Business • 20 Apr 21

The Bank of England said it and the UK government had not yet made a decision on whether to introduce a central bank digital currency in the UK

Bank of England digital currency taskforce launched

Britain stepped up efforts today to look at the case for a digital pound in response to the challenge posed by cryptocurrencies such as bitcoin, and outlined plans to make its financial market more attractive after Brexit.

Business • 19 Apr 21

Frasers Group was earlier known as Sports Direct

Frasers flags possible store closures

Mike Ashely-owned Frasers Group has today warned of possible store closures after it reviews its estate, as the company said government aid for the coronavirus-battered retail sector was not good enough.

Business • 05 Mar 21

UK finance minister Rishi Sunak has announced a tax hike for many businesses as he began to focus on fixing the public finances

UK companies to pay more tax from 2023 - Sunak

British Finance Minister Rishi Sunak has today announced a costly extension of his emergency aid programmes to see the UK economy through its current coronavirus lockdown.

Business • 03 Mar 21

UK house prices rose 6.9% in annual terms in February from 6.4% in January, Nationwide said

UK house price growth picks up unexpectedly

British house price growth picked up unexpectedly last month, mortgage lender Nationwide said today, defying expectations of a slowdown as finance minister Rishi Sunak readies new budget measures to boost the market.

Business • 02 Mar 21

UK finance minister Rishi Sunak is set to extend the huge Covid-19 jobs support scheme next week

UK jobless rate hits 5.1% as Sunak readies more support

Britain's jobless rate rose to 5.1% in the last three months of 2020, its highest in nearly five years.

Business • 23 Feb 21

Rishi Sunak said the new UK health restrictions were necessary but would have a significant economic impact

Sunak says UK economy will worsen before it gets better

Finance minister Rishi Sunak has warned that Britain's economy would get worse before it got better, with the country now in its third national lockdown and struggling to contain the spread of Covid-19.

Business • 12 Jan 21

UK offers lockdown-hit firms extra £4.6 billion of help

Britain has today offered a £4.6 billion support package for businesses struggling to cope with a third national lockdown, imposed this week to stem a new wave of Covid-19 cases sweeping the country.

Business • 05 Jan 21

The unemployment rate rose to 4.9% in the three months to October from 4.8% in the three months to September

UK jobless rate rises by less than expected to 4.9%

The UK jobless rate rose again in the three months to October and the number of redundancies hit a record high as companies prepared for the end of the government's coronavirus job subsidies programme which was eventually extended into 2021.

Business • 15 Dec 20