UK Budget 2021: Cabinet ministers arrive at 10 Downing Street ahead of the Budget

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Daily Mail published this video item, entitled “UK Budget 2021: Cabinet ministers arrive at 10 Downing Street ahead of the Budget” – below is their description.

Rishi Sunak has a bit more money to deploy due to the strong bounceback from the pandemic – with the independent Office for Budget Responsibility expected to say UK plc will grow by 7 per cent this year instead of the 4 per cent it pencilled in in March. The incredibly resilient labour market means borrowing so far this year is well over £30billion below previous estimates. Rumours are swirling that Mr Sunak will deploy some of the headroom to ease the pressures on families and businesses from raging inflation and supply chain chaos. He has already declared that the minimum wage will be hiked, and the public sector pay freeze is being axed. There is speculation of a boost to universal credit when he unveils the full fiscal package this afternoon, while alcohol duty could be cut to help pubs. However, the Chancellor has also stressed the need to balance the books after the £400billion cost of the pandemic, with Tories raising alarm about the massive £2.2trillion debt and the looming threat of inflation driving up interest rates.

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