Home » Legal developments » National legislation » Great Britain: key takeaways from the ‘mini-budget’ fiscal event Great Britain: key takeaways from the ‘mini-budget’ fiscal event On 23 September UK Chancellor of the Exchequer Minister Kwasi Kwarteng unveiled a mini-budget that outlines new Prime Minister Liz Truss’ new look economic policy. Among the measures presented to boost growth and counter inflation, employers will in particular note that the cap on banking sector bonus is to be removed and that IR35 reform (tax reform on disguised employment) will be repealed. Trade unions however are worried about the proposed stricter regulations over strike action. Through . Published on 27 September 2022 à 12h11 - Update on 27 September 2022 à 12h11 Resources During his mini-budget presentation and as announced mid-September in the press (c.f. article No. 13210), the Chancellor of the Exchequer confirmed that the cap on bankers’ bonuses would be scrapped. This ceiling had capped bonuses to 200% of annual salary and had been in place since 2014, following an EU decision as a result of the 2008 financial crisis (c.f. article No. 7485). “A strong UK economy has always depended on a strong financial services sector.… Need more info ? Contact mind's on-demand study service Which service do you want to contact :WritingCommercial serviceTechnical SupportFirst name Last name Organization Function email* Object of the message Your messageRGPD J’accepte la politique de confidentialité.EmailThis field is for validation purposes and should be left unchanged. Essentials Les dernières publications Supporting parenthood in the workplace: a win-win strategy Supporting employee carers: a CSR challenge Analyzes Les dernières publications Paternity leave: data observations from 41 countries EU: during H1 2022 five EU Member States have raised their minimum salary levels
