The Chancellor of the Exchequer, Kwasi Kwarteng, has delivered his 2022 mini-budget in an attempt to address concerns surrounding the ongoing cost of living crisis.
While significant tax cuts were already predicted ahead of the crucial economic update, many people across the country may have been surprised by the sheer extent of measures announced by the chancellor across the board.
Energy
Addressing the subjects on everyone’s mind early on, Kwarteng stated that the annual price of energy for UK households will now be limited to £2,500, resulting in savings of around £1,000 against the projected figures following the most recent energy cap.
He also confirmed that the £400 energy discount is still in place, with the most vulnerable homes receiving even more in government support. Some are less than convinced that any real ‘savings’ will be made.
Earlier this week, the government announced that they would be halving energy bills for businesses over the next six months. Today he confirmed that a relief scheme will be put in place, as well as an “energy market finance scheme” which will offer liquidity to traders.
Similar relief will be afforded to schools and charities.
Lending and inflation
The hope is that this overall energy plan will reduce inflation, which currently sits at 9.9% based on August’s figures, to 5% and see the trending rate of annual financial growth to 2.5%.
Not only does the government believes this will lower the wider cost of living pressures but also free up finances to help better fund public services.
The overall energy relief package is said to be costing approximately £60 billion, meaning a significant amount will have to be borrowed from the Bank of England.
Bankers’ bonuses cap and corporation tax hike scrapped
On the subject of banks, one of the most controversial parts of the Kwasi Kwarteng’s update was the announcement that the cap on bankers’ bonuses will be scrapped entirely, arguing that previous measures only led to higher wages and people paying tax in other countries outside of the UK.
Next year’s scheduled corporation tax increase from 19% to 25% is also going to be scrapped, the rationale being that “low tax encourages investment” both domestically and from overseas.
Once again, people are less than impressed that the nation’s highest-earners appear to be the ones benefiting the most from government policy.
The chancellor also said that the government are committed to removing further enterprise barriers caused by EU regulation, hoping to streamline “planning restrictions” across childcare, immigration, agricultural productivity, and digital infrastructure.
He sighted energy, telecoms and travel as key problem areas hamstrung by red tape.
However, he conversely criticised the ongoing strike action across the country and said that they plan to imitate other countries by introducing legislation to ensure minimum level service resumes.
Tax cuts
Elsewhere, businesses in nearly 40 different ‘designated zones’ have been promised tax cuts for the next 10 years and no stamp duty on new premises. Speaking of which, as of today, no payment will be required on the first £250,000 of a property’s value, with first-time buyers paying zero on the first £425,000.
In fact, it looks as though the overall tax system is set to be reviewed once again. Not only are previous corporation tax and stamp duty plans being scrapped but income tax, alcohol duty and more are all being reexamined as part of the not-so mini-budget.
Alcohol duty is set to be frozen in February, meaning that Brits can expect to save around 7p per pint, 38p per bottle of wine and £1.35 on spirits. VAT-free shopping is also due to be introduced for overseas visitors, with aim of increasing revenue from tourism.
Kwarteng also confirmed that the basic rate of income tax will be cut by 1p to 19p from April 2023, with the 45p tax rate for those earning over £150,000 will be abolished from the same time next year.
This is said to be the biggest series of tax cuts in 50 years.
Despite the ‘real’ living wage being increased by 10% in an attempt to try and curb rising costs in almost every other walk of life, it goes without saying that the UK faces an extremely difficult period ahead as energy costs continue to rise, post-Brexit prices keep rising and we approach the ever expensive winter months.
The shadow chancellor Rachel Reeves told the Financial Times that regardless of the measures announced today, both the mini-budget and Liz Truss’ appointment as Prime Minister represents “another zigzag on a path of policy failure” rather than any real sign of change.
Rochdale has been named Greater Manchester’s ‘Town of Culture’ for 2025
Emily Sergeant
Rochdale has officially been named Greater Manchester’s Town of Culture for 2025.
Taking over the reins from Bolton – which held the title in 2024 – and following in the footsteps of Stockport before that, which held the title in 2023, and even hosted a massive ‘Town of Culture Weekender’ festival with 50+ free events to celebrate and bring its title year to a close, it’s now the turn of the north-eastern Greater Manchester borough of Rochdale.
Rochdale’s year will build on the town’s already-rich cultural history and international reputation as the home of the co-operative movement.
More than 35 arts organisations will be bringing together an ambitious programme of festivals, exhibitions, events, and performances throughout the year.
Unfamiliar with what the ‘Greater Manchester Town of Culture’ title is all about? It’s an accolade that’s handed out every year to different boroughs across the region.
Bury was the inaugural title-holder 2020 and held onto it in 2021 too due to the COVID pandemic, before being followed by Stalybridge in 2022, Stockport in 2023, and of course, Bolton in the year just gone.
The title celebrates Greater Manchester’s culture and heritage.
As well as getting a new title to shout about, it also sees the towns given a grant from the Greater Manchester Combined Authority (GMCA) culture fund to help develop a programme of cultural events and activities throughout the year.
Rochdale has been named Greater Manchester’s ‘Town of Culture’ for 2025 / Credit: The Manc Group | Rochdale Council
In Rochdale’s case, you can expect the ‘very best local talent’, as this year is promising to put ‘people power’ centre stage, with residents helping to plan, develop, and deliver a lineup of creative activities, alongside a number of major events.
This includes the popular free days out for families, an exciting new urban arts festival, two different food and drink festivals, a lantern parade, the Ignite Fire Festival, a Pride parade, and so much more.
You can also expect live music performances, a new people’s gallery, and even some major international collaborations that are yet to be announced.
Rochdale is taking over the reins from Bolton, which held the title in 2024 / Credit: Rochdale Council
“Rochdale is a place with a rich cultural history, so it is great to name it Greater Manchester’s town of culture as it’s town hall and town centre enter a new era,” commented Greater Manchester Mayor Andy Burnham as the borough was crowned this week.
“Rochdale submitted a fantastic bid for this which, was incredibly exciting and ambitious, while being firmly rooted in its local talent and deep history.
“We are definitely going to see the very best of what Rochdale has to offer over the next 12 months and people will come from far and wide to see it.”
Featured Image – Rochdale Council
News
The Lowry Theatre undergoes revamp following Biffa Award grant
Danny Jones
The Lowry in Salford Quays has had a bit of TLC with one of its biggest theatre spaces undergoing a pretty significant refurb this past month.
Following a well-deserved grant distributed via the Biffa Award, a multi-million-pound fund that helps to build communities and transform lives through community and environmental projects across the UK, the legendary local theatre received nearly £75k last year.
As a result, all 440 seats and various other aspects of The Lowry‘s Quays Theatre have now been renovated and refurbished.
The short story is, she looks more gorgeous than ever – see for yourself:
Being initially handed over in March 2024, The Lowry was awarded a total of £74,816 to reupholster seating in the venue’s Quays Theatre with new padding and fabric.
After almost 25 years of constant use as one of the most popular theatres in the North, the seats in the Quays Theatre were much in need of a refurb, and with work completed in December, Lowry visitors can now enjoy watching the venue’s wide range of theatre, dance, comedy and drama in comfort.
The work was actually carried out between July and December, with seats being carefully removed in batches and reupholstered off-site.
This was made possible due to the Biffa Award’s most recent ‘Cultural Facilities’ theme, which aims to improve recreation, interest and education, drawing funds from the UK government’s wider Landfill Communities Fund.
The old fabric and padding were disposed of sustainably, with lots of it being repurposed where possible to minimise waste and all the new materials used meet current guidance for safety and quality.
The Lowry’s Deputy Chief Executive and Director of Development, Gwen Oakden, said of the long overdue update:“It is so important that our audiences are able to enjoy our world-class performing arts programme in a comfortable and welcoming space.
“For many visitors to the Quays Theatre, this is their first experience of live performance – often to see a family show or as part of a school trip. We really want it to be the best experience possible, and for them to begin a lifelong relationship with Lowry.
“As a registered charity, without the generous support of this Biffa Award, for which we’re hugely grateful, we couldn’t have carried out this important work for our audiences.
As we head into our 25th Anniversary year, we are delighted to be able to welcome audiences and visitors can enjoy the beautiful and revived Quays Theatre.”
As for the Biffa side of things, Grants Manager Rachel Maidment added: “We are delighted to have supported The Lowry in refurbishing the Quays Theatre seating, ensuring audiences can continue to enjoy performances in comfort.
“Through Biffa’s Cultural Facilities theme, we fund projects that provide engaging and inspiring spaces for communities. The Lowry is a key cultural venue, and we’re proud that our funding, made possible through the government Fund, has helped enhance the experience for visitors for years to come.”
Like most Mancs, we love The Lowry, so here’s to hosting countless more theatregoers in the most comfortable seats possible for generations to come.
We’ve been to some brilliant performances around here of late.
Danny Jones -
23rd September 2022 
