Press Release

Our response to Budget 2021

Responding to the Chancellor’s Budget, Richard Brown, Interim Director, Centre for London said:

“London is at the forefront of self-employment in the UK, and many workers have been struggling during the pandemic. Extending and targeting coronavirus support will help them to survive the next few months, but we need more fundamental improvements in working conditions to offer a better deal for self-employed workers long term.

“New grants, and gradual tapering of furlough, VAT and business rate support should help London’s hospitality, culture and leisure businesses through this year, as tourism remains supressed and the trajectory of commuters’ return unclear. And while many of London’s larger businesses will be concerned at the rise in corporation tax, new tax allowances for investment could spark the boost in productivity that London and the UK need.

“Measures to boost the green economy are also welcome, but keeping fuel duty low is a signal that the government is still shrinking back from the tough measures that the net zero transition will require on our roads and in our homes.”