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What is an Autumn Statement? 

An Autumn Statement is an update from the Chancellor to MPs on the government’s taxation and spending plans.
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What is fiscal drag?

Fiscal drag occurs when inflation and earnings rise, but tax thresholds or tax bands do not increase with inflation.
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Is there a right to strike in the UK?

There is no right to strike under UK law. However, under Article 11 of the European Convention on Human Rights, everyone has…

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What is the energy price cap?

The ‘default tariff cap’ – widely called the energy price cap – determines the maximum price per unit customers can pay for…

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What is a windfall tax?

A windfall tax is levied against companies deemed to have made excessively high profits, or a ‘windfall’, from circumstances they themselves did not engineer. Learn more here.
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What are financial services?

Financial services are the economic services provided by the finance sector to individuals, households and firms in order to facilitate various kinds…

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What is the Confederation of British Industry?

The Confederation of British Industry (CBI) is a non-profit organisation which represents the interests of 190,000 business, making it the largest such…

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What is the “Northern Powerhouse”?

In June 2014, then-Chancellor of the Exchequer George Osborne stated that England’s northern cities were ‘collectively not strong enough’ and argued that…

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What is HS2?

HS2 (High Speed 2) is a planned new high-speed railway line between London and the midlands and north of England, comprised of…

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What is Nord Stream 2?

Nord Stream 2 is a system of two offshore natural gas pipelines running from Ust-Luga in Russia to Lubmin in Germany. This…

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What is the Multiannual Financial Framework (MFF)?

The MFF – or Multiannual Financial Framework – is the overall EU budget for every seven-year period, setting out funding for the…

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What is cabotage?

Cabotage refers to the transportation of goods between two places within the same country, by a company from another country. Under EU…

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