Kiara Palmer starterd her candle company, Noure Essentials, out of her love for aromatherapy. Today, the Miami based artist hand pours each candle into its artistic vase before she ships it to her customers.
The "Orthobiologics Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029" report has been added to ResearchAndMarkets.com's offering.
Customers will be able to order and pay through the Wetherspoon app, but staff will be able to take orders and payment at the table from those who don’t have the app.
IMMUNOPRECISE ANTIBODIES LTD. (the "Company" or "IPA") (NASDAQ: IPA) (TSXV: IPA), a leader in full-service, therapeutic antibody discovery and development, today announced that it will be presenting at the H.C. Wainwright Global Life Sciences Conference being held virtually on March 9-10, 2021.
SAN DIEGO, March 04, 2021 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (Nasdaq: LPLA) today announced that its wholly owned subsidiary, LPL Holdings, Inc. (“LPL Holdings”), intends to refinance its existing $900 million senior unsecured notes due 2025, and increase the size of its revolving credit facility from $750 million to $1,000 million and extend its maturity date (the “credit agreement amendment”). In connection with these transactions, LPL Holdings announced that it intends to offer approximately $900 million in aggregate principal amount of senior unsecured notes (the “senior notes”) with maturities dependent on market conditions (the “senior notes offering”). The aggregate amount of LPL’s outstanding indebtedness would be substantially unchanged as a result of the transaction, as LPL Holdings intends to use the net proceeds from the senior notes offering, together with cash available for corporate use, to redeem its existing $900 million of senior unsecured notes due 2025 (the “2025 Notes”) and to pay fees and expenses related to the senior notes offering and the credit agreement amendment. LPL Holdings expects to complete the transaction by the middle of March. The launch and consummation of the credit agreement amendment and the senior notes offering are subject to market and other conditions. The issuance of the senior notes will not be conditioned on the closing of the credit agreement amendment or the redemption of the 2025 Notes. Nothing in this press release shall constitute a notice of redemption of the 2025 Notes and any such redemption of the 2025 Notes would be made in accordance with the terms of the applicable indenture. This press release does not constitute an offer to sell or the solicitation of an offer to buy the senior notes. The senior notes to be offered have not been, and will not be, registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933. The senior notes will be offered only to persons reasonably believed to be qualified institutional buyers in the United States in reliance on Rule 144A under the Securities Act of 1933 and outside the United States only to non-U.S. investors pursuant to Regulation S. Forward-Looking StatementsStatements in this press release regarding LPL Holdings’ plans to enter into a credit agreement amendment and offer senior notes, including the anticipated use of the proceeds therefrom and the anticipated sizes of the senior secured credit facilities and the senior notes offering, as well as any other statements that are not related to present facts or current conditions or that are not purely historical, constitute forward-looking statements. These forward-looking statements are based on the Company's historical performance and its plans, estimates, and expectations as of March 4, 2021. The words “expects”, “intends”, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are not guarantees that the future results, plans, intentions, or expectations expressed or implied will be achieved. Matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, legislative, regulatory, competitive, and other factors, which may cause actual results, or the timing of events, to be materially different from those expressed or implied by forward-looking statements. Important factors that could cause or contribute to such differences include: the market conditions, which will affect whether LPL Holdings will be able to enter into a credit agreement amendment and offer the senior notes on the anticipated terms, or at all; finalization of the terms of the credit agreement amendment and senior notes; and satisfaction of closing conditions related to the proposed transactions. LPL Financial Holdings Inc. can give no assurance that the credit agreement amendment or senior notes offering will be completed. Forward-looking statements in this press release should be evaluated together with the risks and uncertainties that affect the business of LPL Financial Holdings Inc. (together with its subsidiaries, the “Company”), including the risk factors set forth in Part I, “Item 1A. Risk Factors” in the Company's 2020 Annual Report on Form 10-K, as may be amended or updated in the Company’s Quarterly Reports on Form 10-Q or other filings with the SEC. Except as required by law, the Company specifically disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, even if its estimates change, and you should not rely on statements contained herein as representing the Company's views as of any date subsequent to the date of this press release. About LPL FinancialLPL Financial (https://www.lpl.com) is a leader in the retail financial advice market, the nation’s largest independent broker/dealer(+) and a leading custodian (or provider of custodial services) to RIAs. We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions. + Based on total revenues, Financial Planning magazine June 1996-2020. Securities and Advisory Services offered through LPL Financial LLC, a Registered Investment Advisor. Member FINRA/SIPC. Investor Relations - Chris Koegel, (617) 897-4574Media Relations – Lauren Hoyt-Williams, (980) 321-1232investor.lpl.com/contact-us
Data: FactSet; Chart: Axios VisualsInvestors holding the ultra-popular Nasdaq 100 and S&P 500 index funds have been hard hit over the last two weeks as tech shares have been roiled by rising U.S. Treasury yields.Why it matters: Even though the economy is growing and many U.S. stocks are performing well, most investors are seeing their wealth decline because major indexes no longer reflect the overall economy or even a broad swath of public companies — they reflect the performance of a few of the country's biggest companies.Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for freeThat was all fine and good when Big Tech shares were booming higher, pushing their valuations to absurd levels, but the sea change in markets since the beginning of February has reversed that trend.What we're hearing: “While the S&P 500 may be facing structural headwinds due to tech weakness, much of the rest of the market is actually doing quite well,” Tom Essaye, founder of Sevens Research, said in his daily Sevens Report. “Overall, most non-tech stocks are weathering the increase in bond yields quite well.”Essaye points out that while growth sectors like tech are barely positive for the year after a rough couple of weeks, value stocks and the S&P equal weight index (which gives all companies in the S&P 500 equal weighting rather than weighting them by their market capitalization) have delivered returns about double the S&P 500's.By the numbers: Five companies — Microsoft, Apple, Amazon, Alphabet and Facebook — make up almost 25% of the market cap for the S&P 500, the U.S. benchmark index, and as more investors move toward passive investing, a greater share of their money is following these companies.As of December 2019, $4.6 trillion was indexed to the S&P 500, according to data from S&P Global, and $6.6 trillion was benchmarked to the index. Passive investing accounted for more than 60% of equity assets in December 2019 — with the majority linked to the S&P — and passive investing has grown since then.The bottom line: Rising bond yields may not be bad for the economy or the stock market overall, but they have certainly been bad for the average Americans' stock holdings and retirement accounts.Like this article? Get more from Axios and subscribe to Axios Markets for free.
We'll take a look at the bank's dividend yield and the history of U.S. Bancorp's dividend to see if this is a great dividend stock.
The Nasdaq undercut lows while Amazon and stay-at-home winners like Zoom tumbled below 200-day lines. But the market rally isn't all dead yet.
With the promise of more pandemic relief and an improving vaccine rollout, business executives are taking a more optimistic view of the U.S. economy
Seasoned Clinical Leader Brings Deep Experience in Drug Development, Including Approval of an Oligonucleotide Therapy in Neuromuscular Disease WALTHAM, Mass., March 04, 2021 (GLOBE NEWSWIRE) -- Dyne Therapeutics, Inc. (Nasdaq: DYN), a muscle disease company focused on advancing innovative life-transforming therapeutics for people living with genetically driven diseases, today announced the appointment of Wildon Farwell, M.D., MPH, as chief medical officer. Dr. Farwell brings expertise in clinical development and medical affairs in neuromuscular diseases and oligonucleotide therapies. “Wildon brings tremendous clinical experience and has played a leading role in the development of multiple oligonucleotide therapies, including one approved for a rare neuromuscular disease,” said Joshua Brumm, president and chief executive officer of Dyne. “He will be instrumental in engaging with global regulatory agencies, key clinicians, investigators and patient communities. Wildon’s appointment further strengthens Dyne’s clinical and medical expertise as we advance our three programs toward the clinic and exemplifies our commitment to building the world’s leading muscle disease company.” Dr. Farwell joins Dyne from Biogen, Inc., where he was vice president, global head of neuromuscular diseases, medical affairs. During his 10 years at Biogen, Dr. Farwell led the development and life cycle management of SPINRAZA® (nusinersen), an oligonucleotide and the first therapy approved for the treatment of spinal muscular atrophy. He also led the late-stage development of tofersen, an investigational oligonucleotide therapy for amyotrophic lateral sclerosis, oversaw clinical and biomarker development for Biogen’s neuromuscular disease portfolio, and began his tenure at the company leading pharmacovigilance for multiple product candidates. Previously, Dr. Farwell was an Assistant Professor in Medicine at Harvard Medical School and a physician at Brigham and Women’s Hospital and the VA Boston Healthcare System. He received his M.D. from the University of Missouri School of Medicine and an MPH in clinical effectiveness from Harvard University School of Public Health. “I’ve seen firsthand the profound impact that new therapies for diseases with few or no treatment options can have on patients, and Dyne has an exciting opportunity to make a difference for people living with rare muscle diseases,” said Dr. Farwell. “I’m thrilled to be a part of a company leading a differentiated approach to delivering therapeutics to muscle and to join at an important time when we are laser focused on progressing our DM1, DMD and FSHD programs to clinical trials.” About Dyne Therapeutics Dyne Therapeutics is building a leading muscle disease company dedicated to advancing innovative life-transforming therapeutics for people living with genetically driven diseases. With its proprietary FORCE™ platform, Dyne is developing modern oligonucleotide therapeutics that are designed to overcome limitations in delivery to muscle tissue seen with other approaches. Dyne’s broad portfolio of therapeutic candidates for serious muscle diseases includes programs for myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD) and facioscapulohumeral muscular dystrophy (FSHD). For more information, please visit https://www.dyne-tx.com/, and follow us on Twitter, LinkedIn and Facebook. Forward-Looking Statements This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this press release, including statements regarding Dyne’s strategy, future operations, prospects, plans and objectives constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “predict,” “project,” “potential,” “should,” or “would,” or the negative of these terms, or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Dyne may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various important factors, including: uncertainties inherent in the identification and development of product candidates, including the conduct of research activities and the initiation and completion of preclinical studies and clinical trials; uncertainties as to the availability and timing of results from preclinical studies and clinical trials; the timing of and Dyne’s ability to submit investigational new drug applications; whether results from preclinical studies will be predictive of the results of later preclinical studies and clinical trials; whether Dyne’s cash resources will be sufficient to fund the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements for the anticipated periods; the impact of the COVID-19 pandemic on Dyne’s business and operations; as well as the risks and uncertainties identified in Dyne’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and in subsequent filings Dyne may make with the SEC. In addition, the forward-looking statements included in this press release represent Dyne’s views as of the date of this press release. Dyne anticipates that subsequent events and developments will cause its views to change. However, while Dyne may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Dyne’s views as of any date subsequent to the date of this press release.Contact: Dyne TherapeuticsAmy Reillyareilly@dyne-tx.com 857-341-1203
Indian merchants have almost entirely stopped signing new export contracts with Iranian buyers for commodities such as rice, sugar and tea, due to caution about Tehran's dwindling rupee reserves with Indian banks, six industry officials told Reuters. "Exporters are avoiding dealing with Iran since payments are getting delayed for months," said a Mumbai-based dealer with a global trading house. Iran's rupee reserves in India's UCO and IDBI Bank, the two lenders authorised to facilitate rupee trade, have depleted significantly and exporters are not sure whether they would be paid on time for new shipments, the dealer said.
The supermarket chain, which also owns Argos, is looking to reduce its office space in Manchester, London and Milton Keynes.
2020 was an absolute boon for streaming service providers. Walt Disney's strategic shift to focus on its direct-to-consumer business has so far resulted in Disney+ amassing 95 million subscribers worldwide. Netflix, which pioneered streaming video, added 37 million users last year and finished its most recent quarter with 204 million paid memberships in over 190 countries.
LAS VEGAS – The Wild is still working its way through the West Division lineup, but a road trip that plants two new teams on its radar hasn't exactly gotten off to a smooth start. Despite beginning the week only one point behind the top seed in the division, the Wild is now four points back after Vegas held onto that No.1 position with a pair of wins over the Wild – including a 5-1 triumph ...
Ciena stock slipped after the maker of optical communications network gear reported fiscal first quarter earnings and revenue that topped estimates.
Novartis AG and CureVac NV said Thursday they have reached an agreement for Novartis to help CureVac manufacture its COVID-19 vaccine, which is currently under review by the European Medicines Agency. Novartis expects to make up to 50 million doses of the vaccine by the end of 2021, and up to a further 200 million doses in 2022, at its manufacturing site in Kundl, Austria. CureVac has already reached agreements with other partners to develop, produce and commercialize its vaccine, including with Bayer AG and GlaxoSmithKline . CureVac shares were up 4% premarket and have gained 3% in the year through Wednesday, while the S&P 500 has also gained 3%.
The "Sea and Coastal Water Transport in Ghana 2020" report has been added to ResearchAndMarkets.com's offering.
Dublin, March 04, 2021 (GLOBE NEWSWIRE) -- The "Global Neurodiagnostics market (2020-2025) by Product Type, Condition, End user, Geography and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering. The Global Neurodiagnostics Market is estimated to be USD 6.8 Bn in 2020 and is expected to reach USD 9.5 Bn by 2025, growing at a CAGR of 7%. Neurological disorders are increasingly recognized as major causes of death and disability worldwide. Data estimated by the Global Burden of states that neurological disorders were the leading causes of Disability-Adjusted Life Years (DALY), with around 276 Mn deaths worldwide. This shows the need for early diagnosis of neurological disorders. Diagnostics testing procedures and tools are essential ways to diagnose a disorder or any other medical condition. In the case of neurosciences, neurodiagnostic has a wide application base.Neurodiagnostic tests are usually performed on patients who suffer from conditions related to the central nervous system (brain and the spinal cord). These tests monitor and record the electrical activity of the brain, spinal cord, and peripheral nerves to ensure the early and accurate diagnosis of the disease. The specialized imaging procedures can help in visualizing the changes in brain activity or the amounts of a particular brain chemical to provide more detailed diagnostic information. The most common neurodiagnostic procedures are Electroencephalogram (EEG), Magnetic Resonance Imaging (MRI), and Position Emission Tomography (PET) scan. Many companies related to neurodiagnostic are focusing on the development of innovative products to strengthen their product portfolio and product pipelines.Factors promoting the growth of the neurodiagnostic markets are the increasing number of neurological disorders, growing number of diagnostic centres, growing advancement in genomics and proteomics, the ability of the devices to monitor patients in ICUs, and rising patient emphasis on early diseases diagnosis.However, low amounts of regular diagnosis amongst the patients due to the high costs associated with the diagnosis and awareness hinders the growth of this market. Also, the lack of skilled expertise and limitations of EEGs in providing accurate diagnosis may impede the market growth. A surge in the prevalence of neurological disorders, technological developments, an increase in healthcare awareness among people, and an increase in healthcare expenditure may provide numerous opportunities for expansion of the Neurodiagnostics Market.Market DynamicsDrivers Increasing Incidence of Neurological DiseasesGrowing Adoption of Novel Diagnostic TechnologiesIncreasing Patient Emphasis on Effective and Early Disease DiagnosisIncreasing Number of Diagnostic Centres & Hospitals Restraints High Cost of DiagnosisGrowing Adoption of Refurbished Neurodiagnostic SystemsAbsense of Regular Diagnosis Activities Opportunities Increasing Application in Clinical TrialsTechnological Advancements and Emerging MarketsGrowing Advancement in Genomics and Proteomics for the Diagnosis of Neurodegenerative Disorders Trends Rise in the Demand for Neuroimaging, In-Vitro Diagnosis, and Neuro-Informatics.Increased Use of Cloud Computing Based EEG DevicesAdvances in Genomics and Proteomics for the Diagnosis of Neurodegenerative Disorders Segments CoveredThe Global Neurodiagnostics market is further segmented on the basis of Product Type, Condition, End user, and Geography.By Product, the Diagnostic Imaging Systems segment is estimated as the fastest growing market in the forecast period due to the increased research and development activities in the field of neuro-generative disorders. It leads to a high number of product launches by major manufacturers in the market. The high investments in healthcare infrastructure have also additionally boosted the growth of this segment.By Condition, the Neurogenerative Diseases segment is estimated as the fastest-growing segment. The factors underlying the growth of this segment is the high amount of brain injuries due to dementia, and Parkinson's disease coupled with the neurological examinations for further prognosis.By End User, the Hospitals are estimated as the fastest-growing segment. It is mainly the hospitals that hold the highest financial capabilities to own neuro-diagnostic devices required for the neurosurgeries. Hospitals have an arrangement for a team of trained professionals to perform complex diagnostic procedures using neurodiagnostic tools and hence expected to grow more than any other end-user segment.By Geography, North America is expected to lead the market. The growth is attributed to the presence of a robust healthcare system, device manufacturing companies, and accessibility to high-end innovative neurodiagnostic tools amongst medical professionals. Europe is the second-largest market owing to the increasing geriatric population. The increasing geriatric population and the increasing prevalence of age-related diseases like stroke, dementia, and Parkinson's diseases are expected to propel the growth of the market.Company ProfilesSome of the companies covered in this report are Fujifilm, Advanced Brain Monitoring, Inc. Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, QIAGEN N.V. and F. Hoffmann-La Roche AG.IGR Competitive QuadrantThe report includes IGR Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share etc. Lions: Represents companies with a strong foothold in the market, with the highest market share, large investments in technologies, new products.Bulls: Companies that are medium in size competing with their USPs, growing companies with proven market share.Rabbits: Small companies but growing rapidly, constantly improving their offerings in the marketTortoise: Companies which are slow in growth, having a long legacy and stable or negative in performance Why buy this report? The report offers a comprehensive evaluation of the Global Neurodiagnostics Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources and projections about market size. The projections are calculated using proven research methodologies.The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys and observation of renowned personnel in the industry.The report includes an in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of COVID-19 on the market is also featured in the report.The report also contains the competitive analysis using IGR Competitive Quadrant, the analyst's proprietary competitive positioning tool. Report Highlights: A complete analysis of the market including parent industryImportant market dynamics and trendsMarket segmentationHistorical, current, and projected size of the market based on value and volumeMarket shares and strategies of key playersRecommendations to companies for strengthening their foothold in the market Key Topics Covered: 1 Report Description1.1 Study Objectives 1.2 Market Definition1.3 Currency1.4 Years Considered1.5 Language1.6 Key Shareholders2 Research Methodology2.1 Research Process2.2 Data Collection and Validation2.2.1 Secondary Research2.2.2 Primary Research2.3 Market Size Estimation2.4 Assumptions of the Study2.5 Limitations of the Study3 Executive Summary4 Market Overview4.1 Introduction 4.2 Market Dynamics4.2.1 Drivers4.2.2 Restraints4.2.3 Opportunities4.3 Trends5 Market Analysis5.1 Porter's Five Forces Analysis5.2 Impact of COVID-195.3 Ansoff Matrix Analysis6 Global Neurodiagnostics Market, By Product Type6.1 Diagnostic Imaging Systems6.1.1 Magnetic Resonance Imaging (MRI) Systems6.1.2 Electroencephalogram (EEG)6.1.3 Computed Tomography (CT) Scanner6.1.4 Position emission tomography (PET) System6.1.5 Electromyography (EMG)6.1.6 Ultrasound Imaging Systems6.2 Clinical Diagnosis Instruments6.3 Reagents and Consumables7 Global Neurodiagnostics Market, By Condition7.1 Neuro Degenerative Diseases7.2 Epilepsy7.3 Stroke7.4 Headache Disorders7.5 Sleep Disorders7.6 Other Diseases8 Global Neurodiagnostics Market, By End User8.1 Operation Theatres8.2 Hospitals8.3 Clinics8.4 Neurophysiological Laboratories9 Global Neurodiagnostics Market, By Geography9.1 Introduction9.2 North America9.2.1 US9.2.2 Canada9.2.3 Mexico9.3 South America9.3.1 Brazil9.3.2 Argentina9.4 Europe9.4.1 UK9.4.2 France9.4.3 Germany9.4.4 Italy9.4.5 Rest of Europe9.5 Asia-Pacific9.5.1 China9.5.2 Japan9.5.3 India9.5.4 Australia9.5.5 Rest of APAC9.6 Middle East and Africa10 Competitive Landscape10.1 IGR Competitive Quadrants10.2 Market Share Analysis10.3 Competitive Scenario10.3.1 Mergers & Acquisitions10.3.2 Agreements, Collaborations, & Partnerships10.3.3 New Product Launches & Enhancements10.3.4 Investments & Fundings11 Company Profiles11.1 GE Healthcare11.2 Philips Healthcare11.3 Siemens Healthineers11.4 Hitachi, Ltd.11.5 Canon, Inc.11.6 Lifelines Neuro Company, LLC11.7 Natus Medical Incorporated11.8 F. Hoffmann-La Roche AG11.9 FUJIFILM Holdings Corporation11.10 Mitsar Co., Ltd.11.11 Advanced Brain Monitoring, Inc.11.12 Thermo Fisher Scientific, Inc.11.13 Bio-Rad Laboratories11.14 QIAGEN N.V.11.15 Nihon Kohden Corporation11.16 Roche NimbleGen, Inc.11.17 Agilent Technologies11.18 BGI11.19 Eurofins Genomics, Inc.11.20 GENEWIZ, Inc.11.21 Macrogen, Inc.11.22 Ambry Genetics11.23 Pacific Biosciences Of California, Inc11.24 Koninklijke Philips N.V.11.25 ANT Neuro11.26 FONAR11.27 Fujirebio 11.28 DRG INSTRUMENTS GMBH 11.29 Tecan Trading AG11.30 Alpha Omega11.31 Bruker12 Appendix12.1 QuestionnaireFor more information about this report visit https://www.researchandmarkets.com/r/6g0lxo CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
(Bloomberg) -- Prime Minister Boris Johnson’s government is being accused of dropping its pledge to end austerity after cutting a further 4 billion pounds ($5.8 billion) a year for departments in the budget.The reductions in day-to-day spending plans unveiled on Wednesday by Chancellor of the Exchequer Rishi Sunak set the stage for a challenging review of resources for government ministries later this year. It adds to savings of over 12 billion pounds announced just four months ago and suggests a squeeze for everything except health, defense and education.Johnson swept to power in 2019 on a pledge to “level up” poorer regions and end years of cuts introduced by then finance minister George Osborne to tackle what was at the time a record budget deficit following the financial crisis. But his plans have been made more difficult by the even bigger levels of borrowing to get the country through the coronavirus pandemic.“It’s not going to feel like the end of austerity if you run a prison or bits of local government,” Torsten Bell, chief executive officer of the Resolution Foundation research group, said in briefing Thursday. “On public services, it’s going to feel like George Osborne is still around.”Sunak combined stimulus this year with plans for spending cuts and billions of pounds of tax increases on companies and individuals in the biggest revenue-raising budget since 1993. The overall tax burden is on course to reach the highest since the late 1960s, according to the Office for Budget Responsibility.In an analysis of the budget, the Institute for Fiscal Studies said so-called unprotected areas will see their budgets fall by around 1% in real terms in 2022-23, adding to the plight of departments such as the Home Office and the Ministry of Justice that bore the brunt of Osborne’s austerity drive.“It’s going to be something that feels a bit like austerity for at least some public services if we are going to keep to these public spending plans,” said Deputy Director Carl Emmerson. “It will be cuts coming on top of that very tight period of spending restraint for those areas.”Some questioned whether the current spending plans can be delivered, given the pressure to increase resources for the National Health Service and education in light of the pandemic. That could mean that even larger tax rises are required in the future to put the debt burden on a downward path.In broadcast interviews on Thursday, Sunak defended his budget, saying the Conservative government has increased day-to-day and capital spending by almost 70 billion pounds since being elected.“That’s a huge increase, delivering on our promises for more nurses, more police officers, more hospitals, leveling up across the country,” Sunak told BBC Radio. “Over the course of this parliament you will see public spending grow at what are historically high levels as we deliver on all of those commitments.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
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