When it comes to national insurance, the government is pulling a fast one October 16, 2024 One of the many problems the government has got itself into over tax rises that may or may not appear in the upcoming Budget is an oversimplification of where the cost of a certain tax falls. Ministers and their supporters talk about Capital Gains Tax as if it only lands on rich people selling off [...]
Employer National Insurance hike could risk jobs amid 95,0000 vacancies October 15, 2024 Increasing employers’ national insurance contributions (NICs) could pose a risk to jobs amid some 95,000 vacancies across pubs and restaurants, a hospitality lobby group has warned. Data released from the Office for National Statistics (ONS) today revealed there are a “stubbornly high” 95,000 openings across the sector, including in venues, cafes and eateries. Hospitality UK [...]
Entrepreneurs ‘can’t be in doubt’ about our growth pledge, Reynolds argues October 15, 2024 Entrepreneurs who signed an open letter warning about the impact of hiking capital gains tax “can’t be in any doubt” about Labour’s commitment to economic growth, Jonathan Reynolds told Morning Wire. The business and trade secretary was responding to a letter signed by a group of 500 British entrepreneurs, including the founders of Signal AI, [...]
Ministers refuse to rule out hike to employer national insurance rate October 14, 2024 The Chancellor and business secretary have again refused to rule out a hike employers’ National Insurance (NI) contributions in the upcoming Budget when speaking on the sidelines of the government’s investment summit today. Speaking exclusively to Morning Wire on the question of whether Labour would increase employers’ NI, Jonathan Reynolds stressed: “I think the manifesto [...]
Reeves hails £63bn boost for Britain at flagship investment summit October 14, 2024 Reeves welcomed the investment news, insisting her “ambition for Britain burns brighter than ever”, while the government said the deals will see some 38,000 new jobs created in the UK.
Reeves shakes up state-owned banks in bid to unlock flood of start-up cash October 14, 2024 Chancellor Rachel Reeves has shaken up the mandate of two state-owned development banks today as part of efforts to divert billions of pounds of investment into high-growth British start-ups.
Let them tax cake! Top accountant gives alternatives to business-bashing tax hikes October 14, 2024 While rumours swirl of potential hikes to Capital Gains Tax and the employer National Insurance rate, one top tax accountant has said the government should look elsewhere instead of targeted business-related taxes. His suggestion: Cake.
Investment Summit: Industrial strategy is ‘not picking winners’, Starmer insists October 14, 2024 The UK is “not in the business of picking winners” but is focused on “building on our strengths”, Sir Keir Starmer has said, as he unveiled the government’s industrial strategy at its flagship investment summit in London. The Prime Minister told the conference in Canada today that the government’s focus was on [...]
Khan says London is open for business as tech firms confirm expansion plans October 14, 2024 Three tech firms Mphasis, Constant Contact and Moonpay, are set to expand, invest and launch in London in the coming months, mayor Sadiq Khan has announced. The Indian IT giant, US-based marketing firm and Miami-headquartered fintech have all unveiled upcoming plans to boost their presence in the UK capital. Mphasis opened a new London office [...]
Macquarie set to pledge £20bn new UK investment at Labour summit October 13, 2024 Australian infrastructure giant Macquarie is planning £20bn of new investment in the UK in a reprieve for Keir Starmer ahead of Labour's flagship investment summit.