Quick Poll results: 33% confirm that the delayed Budget will have a substantial impact
01 December 2020
As it was confirmed that a Budget would not be delivered until March 2021, the CIPP’s Policy and research team wanted to assess what effect this would have on anybody working within the payroll sphere, and so posted a Quick Poll on the CIPP’s News Online page.
The question asked:
Now that we have confirmation that a Budget will be delivered in March 2021, how significantly will the delay impact you and your company?
The most popular response was for those that stated that the delayed Budget will have a substantial impact on them, with 33% selecting this option. This was followed by 28% who confirmed that they expected to see information normally provided at Budget presented at the Spending Review, which Rishi Sunak delivered on 25 November 2020. We did receive details relating to the National Living Wage (NLW) and National Minimum Wage (NMW) rates for April 2021, information regarding public sector pay and confirmation about an increase to tax thresholds for next tax year from the Chancellor.
23% of respondents revealed that the later date of the Budget would have a marginal impact on them, with the remaining 16% confirming that this would have no impact whatsoever.
The previous Budget was also held later and delivered in March 2020. The team posted the exact same question back in February 2020, and it appears that views have changed dramatically since then, as 42% felt that the delay would have a moderate impact on their payroll department, and 32% expressed that they couldn’t see that it would have an impact at all. Only 26% of respondents were concerned about there being a significant impact on their payroll department.
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