Podcast 01 Oct 2021

68: VAT Increase & Supply Chain Chaos

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October 1st, 2021 is a date many businesses have been dreading. Today, the UK lifted the majority of pandemic measures that have staved off insolvency.

Lenders and creditors can once again legally seek to liquidate a company that they believe is unable to pay their debts from today. VAT rates have also increased from 5% to 12.5%, with plans to return to 20% in April. This rise has many in the hospitality and tourism sectors calling for a permanent cut to VAT to help their weakened industries. Furlough support has been withdrawn, meaning businesses will be under even more financial strain and jobs in both of these aforementioned sectors could very much be at risk… The supply chain chaos continues, with issues spreading deeper and snowballing into more industries.

Finally, there was an eye-opening article written in the Telegraph this week on China’s energy crisis – the country’s issues have grown so big that many regions in China have actually begun to ration power. Nick and Jo take a closer look at the crisis and discuss how it has the potential to rock the world…

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