Latest news with #Parliament
Daily Mirror
9 minutes ago
- Business
- Daily Mirror
DWP scrapping popular benefit with all claimants moved to something different
The Department for Work and Pensions says it will close Employment and Support Allowance by next March 2026 - with ALL claimants moved onto another benefit The Department for Work and Pensions has announced it will shut down Employment and Support Allowance by March 2026 - shifting all recipients onto a different benefit. The DWP delivered this bombshell update to Parliament ahead of the summer break. Managed migration is the term used when the Department for Work and Pensions (DWP) transfers people from old-style benefits, such as Employment and Support Allowance (ESA), over to Universal Credit (UC). This shake-up forms part of the wider Universal Credit expansion, designed to merge several existing benefits into a single payment. So, what's going to happen now, and how is it going to affect people? Labour MP Amanda Martin, representing Portsmouth North, challenged ministers in the Commons "to ask the Secretary of State for Work and Pensions, whether claimants with disabilities who are in receipt of the Personal Independence Payment and legacy work-related benefits will be treated as new claimants for the purposes of the proposed changes to the health element of Universal Credit when they are migrated onto Universal Credit through managed migration; and whether such claimants will see a reduction in their income as a result of these proposed changes." Sir Stephen Timms responded: "The Department plans to complete migration of ESA claimants to UC by March 2026. As part of this ESA claimants will be migrated to the UC Health Element. To protect any claimants who have not migrated by April 2026 we intend to mirror as closely as possible the changes made in UC in the ESA rates. "Changes to the "support component" and the two disability premia (severe and enhanced disability premium rates) will reflect changes to UC LCWRA rates for existing claimants." He continued: "Including these commensurate measures aims to give fair treatment for all customers moving onto UC from income related ESA, regardless of their point of migration." You'll be alerted when it's time to switch to Universal Credit through a postal letter known as a migration notice. The correspondence will be unmistakably identified as a migration notice with "Universal Credit Migration notice" displayed prominently within the document, reports Birmingham Live. The letter will specify an exact deadline for your UC transition (typically mentioned on two occasions throughout the correspondence). At the document's base, a footnote will read: "This is a migration notice issued under Regulation 44 of the Universal Credit (Transitional Provisions) Regulations 2014". Without securing an extension to your deadline, you must submit your UC application by the date outlined in your migration notice. Failure to comply means your existing benefits will cease - the transition to UC doesn't happen automatically.
Time of India
26 minutes ago
- Business
- Time of India
I-T dept working to give shape to rules, procedures under new Income Tax Bill: CBDT chief
The Income Tax department is working to give shape to the rules, forms and procedures for the new Income Tax Bill, 2025, which aims to simplify the six-decade old direct tax law. Speaking at the 166th Income Tax Day event here, Central Board of Direct Taxes (CBDT) Chief Ravi Agarwal also said the department is following the principle of ' enforcement with empathy ', wherein it is enabling taxpayers to review and voluntarily update their finances. Explore courses from Top Institutes in Please select course: Select a Course Category healthcare Artificial Intelligence MCA Product Management Cybersecurity MBA Design Thinking Public Policy Finance Healthcare Project Management Data Science others PGDM CXO Technology Operations Management Digital Marketing Leadership Management Others Degree Data Science Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details Agarwal said "work is already underway to give shape to its rules, forms, and procedures, a critical next step... These will define how the law functions and practice. And I am confident that just like the bill, these too would reflect our shared commitment to clarity, simplicity, and taxpayer convenience ". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Unsold Container Homes in National Capital Region - Prices You Won't Believe! Shipping Container Homes | Search Ads Search Now Undo The new Income Tax Bill, 2025, was introduced in Parliament on February 13, 2025, and was referred to a parliamentary panel. The panel was submitted its report to Parliament on July 21 suggesting some changes to the I-T bill. Agarwal said the Income Tax department will continue to play its role in making India Viksit Bharat by collecting fair taxes, fostering voluntary compliance, and ensuring that are systems are worthy of trust citizens that put in place. Live Events Agarwal said the department has been using data analytics for voluntary compliance. "Our 'Nudge campaign', which is a short form for non-intrusive usage of data to guide and enable taxpayers, today uses behavioural insights and transactional level data to detect discrepancies. "Be it disclosed income, incorrect deductions, or high risk claims. Rather than launching compliance measures at once, we are now enabling taxpayers to review and voluntarily update their filings. This is enforcement with empathy and it reflects department's evolving mindset to trust persons," Agarwal added.
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First Post
39 minutes ago
- Politics
- First Post
What is 'Russian influence' in Ukraine's corruption that Zelensky is talking about?
Ukrainian President Zelenskyy pledged a new anti-corruption bill amid EU criticism and protests over a controversial law weakening watchdogs. The move comes as Russia intensifies attacks and Kyiv faces mounting pressure on reforms and foreign aid read more Thousands of people protest against a law targeting anti-corruption institutions near the President's Office in Kyiv, Ukraine. AP President Volodymyr Zelenskyy declared on Thursday that he will present a new anti-corruption bill to Ukraine's Parliament, in an additional effort to soothe tensions after approving modifications to graft legislation that sparked a public uproar and severe condemnation from the European Union. Opponents of the contentious law enacted by the lawmakers and signed by Zelenskyy earlier this week said that it deprived Ukraine's anti-corruption watchdogs of their independence by giving the government more control over their work. STORY CONTINUES BELOW THIS AD Zelenskyy stated that it was necessary to speed up investigations, assure more convictions, and remove 'Russian influence' from the battle against corruption, although he did not cite specific examples of Russian intervention. On Thursday, Zelenskyy abruptly announced that he had drafted a new anti-corruption measure that 'guarantees the real strengthening of the law and order system in Ukraine.' In a Telegram post, Zelenskyy said, 'The most important thing is real tools, no Russian connections, and the independence of the (watchdogs).' After almost three years of fending off Russia's full-scale invasion, the declaration seemed to give in to recent pressure that threatened to erode public confidence in Ukraine's leaders. The protests have not demanded Zelenskyy's removal, but they are the first significant anti-government demonstrations since the conflict began. 'It is important that we maintain unity,' Zelenskyy stated in his Telegram post. The announcement also left some questions unanswered. Zelenskyy had said Wednesday that he met with the heads of Ukraine's key anti-corruption and security agencies and gave them two weeks to make recommendations on how the graft law could be improved before he presented another bill to Parliament. Despite that assurance, further street protests were scheduled for Thursday evening. The new pronouncement also left unclear whether Zelenskyy intended to revoke the law that he approved earlier in the week after Parliament had passed it. He didn't publicize details about the proposed new law. The unrest has come at a difficult time in the all-out war, which began on Feb. 24, 2022. Russia's bigger army is accelerating its efforts to pierce Ukraine's front-line defenses and is escalating its bombardment of Ukrainian cities. STORY CONTINUES BELOW THIS AD Ukraine is also facing a question mark over whether the United States will provide more military aid and whether European commitments can take up the slack, with no end in sight to the war. Delegations from Russia and Ukraine met in Istanbul for a third round of talks in as many months Wednesday. But once again, the talks were brief and delivered no major breakthrough. Fighting entrenched corruption is crucial for Ukraine's aspirations to join the EU and maintain access to billions of dollars in Western aid in the war. It's also an effort that enjoys broad public support. EU Enlargement Commissioner Marta Kos expressed concern Wednesday over the new law, calling it 'a serious step back.' The Ukrainian branch of Transparency International criticized parliament's decision, saying it undermines one of the most significant reforms since what Ukraine calls its Revolution of Dignity in 2014 and damages trust with international partners. Meanwhile, Russian planes dropped two powerful glide bombs on the center of Kharkiv, Ukraine's second-largest city, on Thursday morning, regional Gov. Oleh Syniehubov said. At least 37 people were wounded, including a 28-day-old baby, a 10-year-old girl and two 17 year olds, authorities said. STORY CONTINUES BELOW THIS AD The southern city of Odesa, and Cherkasy in central Ukraine, were also hit overnight, authorities said. The drone and missile strikes on the cities wounded 11 people, including a 9-year-old, and damaged historic landmarks and residential buildings, officials said. Ukraine has sought to step up its own long-range drone attacks on Russia, using domestic technology and manufacturing. An overnight Ukrainian drone attack on the Russian Black Sea resort of Sochi killed two women and wounded 11 other people, local authorities said Thursday. An oil depot was hit, officials said, without offering details.
Time of India
an hour ago
- Business
- Time of India
India-UK trade deal sealed, but scotch prices to come down only by next year
NEW DELHI : Scotch prices — including brands like Glenlivet, Black Label, Glenmorangie, and Chivas Regal — won't drop just yet, despite the India-UK trade deal halving the steep 150% import duty. The agreement still awaits ratification by the UK Parliament before the changes come into effect. Even when they come down, the reduction in prices will be in the range of only 8-10% as the share of customs duty to cumulative retail price of scotch is only around 15-20%, industry officials told TOI. The reduction in duty on scotch had been a major ask of the UK govt during the negotiations for the Comprehensive Economic and Trade Agreement. The UK Parliament is likely to ratify the deal only by the middle of next year. Once approved, the customs duty will come down to 75%, and thereafter reduce to 40% over the next decade. Top international spirits makers such as Diageo welcomed the move, and even Indian makers – who source Scottish spirits for blending in their local brands – are upbeat. 'We laud the Indian and British govts for formalising this historic treaty which will boost bilateral trade and positively impact the accessibility of premium Scotch whisky in India, reigniting growth and increased choice for Indian consumers,' Praveen Someshwar, MD & CEO of Diageo India said. Sanjit Padhi, CEO ofInternational Spirits and Wines Association of India (ISWAI) said the agreement paves the way for a more balanced and equitable trade environment, particularly as Indian alcohol exports to the UK have zero import duties. However, industry officials say that despite halving of import duty, the actual reduction of consumer prices will not be more than 10%. 'The share of customs duty to the overall structure of MRP is hardly 15-20%, depending on the category. The rest comprises state govt taxes, and distribution margins. So actual consumer prices will come down by only 8-10%,' an official said. The reduction in import tariffs will also be a benefit for manufacturers of Indian Made Foreign Liquor (IMFL). Around 80% of the imported scotch is in bulk form, which is used for bottling in India and for blending by local whisky brands. Abhishek Khaitan, MD of Radico Khaitan, said the company sees significant 'strategic and cost advantages' due to the trade deal. 'We have estimated our scotch requirements valued at over Rs 250 crore in FY26, and this treaty represents a substantial opportunity for value creation… this agreement is a win-win; empowering Indian enterprises to elevate their global competitiveness while showcasing India's excellence and innovation on the world stage. ' Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Barnama
an hour ago
- Business
- Barnama
BNPL Service Providers Urged To Practise Self-regulation
SHAH ALAM, July 24 (Bernama) -- Online shopping platforms offering 'Buy Now Pay Later' (BNPL) services have been urged to self-regulate to ensure consumer rights remain protected. Deputy Minister of Domestic Trade and Cost of Living Datuk Dr Fuziah Salleh said the approach was needed pending the introduction of a more comprehensive law. 'My advice to platform owners is to ensure their platforms are used responsibly and with integrity, as the e-commerce law has yet to be tabled in Parliament. 'For now, let us self-regulate, protect consumers, and foster a positive culture,' she said after the Closing Ceremony of the TikTok Shop Summit and the 2025 Buy Malaysian Goods Campaign here today. Deputy Finance Minister Lim Hui Ying was previously reported to have said that BNPL transactions increased to 102.6 million in the first half of this year, compared with 83.8 million in the second half of 2024. According to Lim, the surge in BNPL transactions had exposed consumers, particularly low-income earners and those with low financial literacy, to the risk of unmanageable debts. Meanwhile, commenting on the one-off RM100 cash aid for citizens aged 18 and above, Fuziah said it can only be used at designated outlets under the Sumbangan Asas Rahmah (SARA) programme to prevent misuse. She said enforcement would be carried out continuously to prevent price hikes at the outlets involved. 'Aid recipients must use their identity card to make purchases at any of the 4,100 designated outlets nationwide and are only allowed to buy listed items to prevent misuse of the funds.
