From education to siding scandal to family finances – the winners (and losers) of the budget
The biggest home builders will be hit with a £ 200million a year tax to help tackle the siding scandal.
The government will charge property developers for profits above £ 25million at a rate of 4%.
This will help create a fund that can be used to remove cladding from high rise buildings across the UK, but which proved dangerous after the Grenfell Tower disaster in June 2017.
Mr Sunak said: “We are confirming £ 5bn to remove hazardous coatings from most risky buildings, funded in part by the tax on residential property developers.”
Many homeowners have faced potentially ruinous bills after discovering that siding their home can be unsafe.
The McGovern family live on the third floor of a building which has been rated as “less risky” because it is less than 18 meters in height
A general view showing the Grenfell Tower, in London. Government to charge property developers over £ 25million in profits at 4% rate to help tackle coatings scandal
Last night the government said it wanted to ‘turn Generation Rent into Generation Buy’ by spending £ 24bn on housing over several years.
This includes up to 180,000 affordable housing units.
Ministers said it was the biggest cash investment in a decade, with 65% of the money spent outside London.
However, some locals said it still fails to help many people caught up in the scandal.
Teacher Emma McGovern says she is “past the point of frustration” after finding out she would not be eligible for funding.
Ms McGovern, 34, her husband Neil and their children Tabitha, eight, Phoebe, seven, Jonah, five, and Titus, two, live on the third floor of a building deemed ‘less risky’ because it is less of 18 meters.
But that would still require repairs totaling £ 85,000 each for all residents of the four-story Oyster Court building in Elephant and Castle, south London.
Ms McGovern said: “Our block is so small I can’t believe it. Do not leave anything in the budget because it shows that they do not understand it.
Schools have been pledged an additional £ 1.8bn to help children recover from wasted classroom time during the Covid pandemic. However, unions said this was not enough and could ‘damage’ the lives of young people.
Unions have received additional £ 1.8bn in funding pledged to help children recover learning lost during the pandemic – calling it ‘inadequate’.
The extra money is on top of the £ 3.1 billion already pledged. But the National Education Union (NEU) said that was not enough and could “hurt” life chances.
Sir Kevan Collins, the former Catch-up Schools Czar, initially said a £ 15bn stimulus package was needed over three years.
He resigned when it became clear that this would not come to pass.
The extra money is intended to help students who missed part of their lessons when schools closed, either because online lessons were poor or because they did not have internet access.
NEU’s Kevin Courtney accused the government of clawing back education “on the cheap” and added: “It’s just not good enough”.
Geoff Barton, of the Association of School and College Leaders, added that it was “disappointing” and “far from what is needed.”
Schools will also receive additional general funding of £ 4.7bn by 2024/2025, bringing it down to 2010 levels in real terms.
Mr Sunak insisted it equated to a cash increase for every pupil of over £ 1,500.
Family has been placed at the top of the budget, with Start for Life services receiving £ 500million over the next three years.
Ministers will invest in family centers, Start for Life and family support services, perinatal mental health support, breastfeeding services and parenting programs.
The money will also help expand the Supporting Families program, which helps 300,000 families.
Mr Sunak said he would address issues related to child care services.
The chancellor also said there would be funding for a newborn genome screening program to detect 200 rare diseases – potentially saving 3,000 babies each year.
Prime Minister Boris Johnson (right) with Chancellor of the Exchequer Rishi Sunak during a visit to Fourpure Brewery in Bermondsey, London, Wednesday
Genomics England will receive funding to support a national pilot project that uses sequencing to detect rare diseases in 100,000 babies.
The Daily Mail reported that thousands of babies are at risk of disability or death because they are not screened for these diseases.
Right now, every baby in the UK is offered a heel prick test for conditions like sickle cell anemia and cystic fibrosis. However, they are only tested for nine diseases – significantly fewer than in other developed countries.
… AND LOSERS
Social care providers said they were “left out” after Mr. Sunak failed to announce additional funding.
The Chancellor said the councils would receive an additional £ 4.8bn to fund a range of services – but did not say none should be earmarked for social care.
The industry will have to rely on the £ 5.4bn raised by next year’s National Insurance premium hike – as well as the £ 162.5m fund to help the industry recruit and to retain staff.
Charities and care groups said this was “far from enough” and that it would “have serious and far-reaching consequences.”
Mr Sunak, flanked by Prime Minister Boris Johnson, details his budget in the House of Commons
The Ministry of Defense is also the loser, spending to be cut by 0.4% in real terms.
The Chancellor’s decision brings defense spending below what the Defense Ministry announced just four months ago.
Tory MP Tobias Ellwood, former defense minister, said: ‘It is not in Britain’s mind to be a nation that solves problems and shares the burden as our world gradually grows larger. unstable.”
Meanwhile, the rail industry yesterday criticized for not mentioning HS2 in the budget.
It comes amid growing doubts that the high-speed train project will be completed in its entirety, with the Treasury wanting its east branch connecting Birmingham and Leeds to be scaled back.