Reeves is right to squeeze private equity – but a sweeping capital gains hike will hurt the City, says Cavendish chair September 5, 2024 The government is right to launch a raid on the profits made by private equity bosses but a sweeping hike in capital gains and inheritance tax could suck investment out of the City, the chair of investment bank Cavendish has warned. Lisa Gordon, who chairs the London-listed broking group, urged Rachel Reeves to be “more [...]
‘No plans’ to raise council tax but cut to discount not ruled out September 2, 2024 The government has no plans to increase English council taxes, Angela Rayner confirmed, but she declined to say whether she would scrap the single person discount to the bill. The deputy Prime Minister, who is also the secretary of state for housing, communities and local government, said her government “is about making sure working people [...]
How much could a UK bank windfall tax raise? August 29, 2024 The banking sector is considered an easy target for an energy-style windfall tax, with lenders enjoying record profits on the back of interest rate hikes from the Bank of England last year.
City sounds alarm over Starmer’s ‘painful’ Budget warning August 28, 2024 City figures have sounded the alarm over the Prime Minister’s warning of a “painful” Budget this autumn, urging him not to “punish risk takers” and warning against “taxing wealth creators”. Sir Keir Starmer delivered his first major address from the No10 Rose Garden on Tuesday as he cautioned that the state of the public finances [...]
Starmer pledges ‘wealth creation’ – but can his policies deliver it? August 27, 2024 Sir Keir Starmer has cautioned voters his government’s first fiscal statement would be “short-term pain for long-term good”.
‘Painful’ Budget ahead, Keir Starmer warns in gloomy No10 speech August 27, 2024 Sir Keir Starmer has warned Brits to expect a “painful” Budget this autumn as he insisted the state of the public finances is “worse than we ever imagined”. The Prime Minister addressed the nation from the No10 Rose Garden as he cautioned voters his government’s first fiscal statement would be “short-term pain for long-term good”. [...]
Social rent increases may not ‘move dial’ on housebuilding, Rachel Reeves warned August 21, 2024 Rachel Reeves’ plans to increase social rent may not “move the dial in a material way” on council housebuilding, a corporate finance firm is warning. The Chancellor will reportedly up social rent by bringing in a decade-long formula to raise housing costs in England boosted by the CPI inflation measure – currently 2.2 per cent [...]
Public wary of tax rises as economists warn on ‘disappointing’ fiscal progress August 21, 2024 Although the public are opposed to tax rises in general, there are a couple of taxes which could go up with popular support. Perhaps unsurprisingly, these are taxes which most people do not pay.
Rachel Reeves facing ‘tough choices’ after latest UK borrowing figures August 21, 2024 Already this financial year the government has borrowed £4.7bn more than predicted by the Office for Budget Responsibility (OBR) back in March.