The Government Actuary’s Department (GAD) has analysed the announcements in this week’s Budget. We’ve focused on topics on which we advise our clients, such as reforms relating to investment, insurance and pensions.
In our Budget 2021 technical bulletin we look at areas which have particular resonance for GAD’s work. These include:
- government’s plans for growth via its Build Back Better programme
- launch of a UK Infrastructure Bank
- environmental objectives in monetary policy and the launch of a ‘green gilt’
- tax allowances and thresholds, such as the pensions’ Lifetime Allowance
The government also announced new and extended aspects of its COVID-19 recovery plan such as the Mortgage Guarantee Scheme and the Recovery Loan Scheme.
GAD has supported the government’s response to the pandemic. We’ve advised on various schemes set up to support different areas of the economy. These included the Trade Credit Reinsurance scheme, and the Film and TV Production Restart Scheme both of which are considered in the Budget.
More details are available in the Budget 2021 technical bulletin.