Chamber UK’s Post

🔍 As not-for-profits brace for potential budget belt-tightening, our Executive Director, Angus Crowther, sheds light on the billions of dollars in unannounced government funding and offers insights into navigating the fiscal landscape. Speaking with Greg Thom, journalist at the Institute of Community Directors Australia, Angus explains: "Don’t believe this line that there’s no money in the budget for you. It’s about building political will and convincing these people [politicians] to invest in your programs." 💰 Learn more about the challenges and opportunities facing the sector in the lead up to the Federal Budget. #Budget #GovernmentFunding #NotForProfits #NFP #TanckInsights

Funding reductions for councils would be disastrous. 💰 This is why, ahead of the Autumn Budget and Local Government Finance Settlement, the DCN is among the full signatories of a letter to the Chancellor calling for measures to support and stabilise the sector’s finances in 2025-26. 🏚 The letter points out that spending on homelessness has surged by 77% since 2019-20, with the number of households in temporary accommodation being at its highest level since records began. 🌩 “Councils have faced a perfect financial storm: a 22.2 per cent real terms cut in core spending power since 2010/11, spiking inflation in recent years, unfunded increases in the National Living Wage, and growing demand for services,” the letter states. 💹 “We do not underestimate the difficult decisions you will have to take in your first Budget, but stabilising the local government sector financially will not only protect key services, it will also provide a return on investment to the tax-payer, while improving outcomes for the people and places councils serve. 📈 “From giving young people a good start in life and pursuing preventative strategies, to unlocking and enabling talents, skills, spaces and places, a robust and sustainable local government sector will be critical to the realisation of the Government’s growth, housing, planning and infrastructural ambitions for our country.” ✉ You can read the full text of the letter here: https://lnkd.in/ewPCtBvX

Children in the UK are going without every day, this budget was a missed opportunity to help vulnerable families. According to the Government’s own figures: 7.5 million families with children are trapped in poverty. While we recognise that the Government has had to, in their own words, make ‘difficult decisions’, this budget is a missed opportunity to ease huge financial pressures on struggling families. We do, however, welcome the introduction of Fair Rate Repayment, which will tackle levels of debt repayments for those in receipt of welfare support. This will be welcome news for people in debt navigating the social security system and will help people avoid a debt spiral – and is something we have been calling for. We are also pleased with the triple investment in English school breakfast clubs and the reduction of maximum Universal Credit debt payments from 25% of standard allowance to 15% of standard allowance, but we believe more can be done to help struggling families. While the changes will make a difference to low-income individuals and families, we are disappointed that the two-child benefit limit has not been scrapped as part of this budget. This will leave more children at risk of being forced into poverty. Every day, our officers, employees and volunteers serving on the frontline see families living hand to mouth and the #Budget2024 leaves them behind. We will stand beside them, no matter the economic climate, and continue to offer them practical assistance and campaign on their behalf for a fairer society for current and future generations. Join our campaign and write to your MP asking them to put families first: https://bit.ly/4bEOOAO Read more of our response to the budget: https://tsa.link/3UxEXa3

💰 An annual wealth tax on the super-rich would raise over £70 billion a year for public services like the NHS. While millions of us have struggled with sky high bills, soaring costs, stagnating wages and declining services, for the super wealthy things have never been better. According to University of Greenwich research a progressive tax on the top 1% of households would raise the funds needed to transform our public services, end child poverty for good, and tackle the climate emergency on the scale it requires. By asking those with the most to pay a little bit more we can build a fairer, greener Scotland that works for everyone. 🔎 Read more: https://lnkd.in/ebXamBwP

First what does non-dom mean? 🤨 A non-dom is a UK resident whose permanent home (domicile) for tax purposes is outside the UK. Whats the issue? 👇 There is concern that scrapping non-dom status could lead to wealthy individuals leaving the UK, undermining the expected revenue gains. While non-dom status is still set to be decided, the Treasury insists any further changes must demonstrate that they will raise funds. The current situation? 👇 For now, wealthy individuals may still have the opportunity to legally benefit by claiming domicile in lower-tax countries. Need advice with your finances? We are here to do just that! 😀 #nondomtax #taxadvice #ukfinances #brownandcoaccountancy #moneyadvice #wealthplanning

Right what did we get? Scotland's 2025/26 Budget: Key Points - The Scottish Government's latest budget focuses on public services, poverty reduction, and economic growth. Here are the highlights: Healthcare: £21 billion allocated to the NHS, including a £2 billion boost for frontline services. Child Poverty: The two-child benefit cap will be removed in 2026, lifting 15,000 children out of poverty at a cost of over £250 million. Tax Policy: Higher earners in Scotland will continue to pay more tax compared to the rest of the UK to fund key social programmes. Transport: Calls to eliminate peak rail fares follow a successful pilot scheme to make travel more affordable. Local Funding: £14 billion for local councils, including funds to freeze Council Tax at current levels. Business Support: Reduced regulation, business rate relief, and apprenticeship levy reforms aim to drive growth and create jobs. What do you think about these changes? #ScottishBudget

🔔 What's in the NSW Budget for You? The latest NSW budget focuses on social housing and easing cost-of-living pressures. With a record multibillion-dollar investment in social housing, the budget aims to support those who need it most. Despite facing a $3.6 billion deficit due to an $11.9 billion shortfall from this year's GST allocation, the budget strives to address crucial needs and support communities. Read more about the NSW budget and its impact: https://lnkd.in/gnmdpQFt #NSWBudget #SocialHousing #CostOfLiving #EconomicUpdate

Yesterday the Instittue for Fiscal Studies published the attached report. An important read for those listening to pledges and manifestos during the current campaigning. How has the size of the state changed over this parliament? Between 2019–20 and 2024–25, spending as a share of GDP was more volatile than at any point in the post-war period. The size of the state spiked during the pandemic, reaching a height in 2020–21 with spending equal to 53.1% of GDP. https://lnkd.in/e2EchTsB

New South Wales has followed Queensland by raising the rate of the foreign duty and land tax surcharges and mirrored South Australia by announcing payroll tax changes to incentivise GP bulk-billing. These changes once implemented mean that NSW will have the highest surcharge rates for foreign owners in the country . For example, a foreign owner acquiring residential land may be liable for stamp duty up to 16% where premium property duty applies.

Calls are being made for the introduction of a special tax in South Africa to fund a proposed R700 social grant aimed at supporting vulnerable citizens. Advocates argue that this grant is essential for alleviating poverty and providing financial relief amid rising living costs. The proposal suggests that the new tax could be levied on high-income earners and corporations, ensuring that those who can afford to contribute help support the most disadvantaged. Critics warn, however, that implementing additional taxes could further strain the economy and discourage investment. #Tax #Grant #Treasury