UK government borrowing since April hits £60bn August 21, 2025 The UK government borrowed a total of £1.1bn last month, according to the Office for National Statistics (ONS), compared to £2.3bn last year and below the fiscal watchdog’s £2.6bn forecast. The total deficit hit £60bn in the months since April, which is £6.7bn more than in the same four-month period of 2024 and the third-highest [...]
Reeves warned tax reform would be ‘rushed’ and lead to snags August 20, 2025 Chancellor Rachel Reeves’ efforts to fast-track tax reforms in the three months leading to this year’s Autumn Budget risk being “rushed” and putting Britons at a disadvantage, senior tax advisers have warned. Treasury officials are reportedly “racing” to find tax reforms to ease the burden on businesses and individuals while improving productivity forecasts from the [...]
One in five hospitality firms have no cash reserves after tax raid August 20, 2025 A fifth of British hospitality businesses have no cash reserves left and nearly eight in 10 have raised prices as they battle to shoulder the succession of cost hikes placed on them at last year’s autumn Budget. Fresh data from four of the sector’s trade bodies showed that 69 per cent of members have less [...]
Reeves’ punitive property tax will hurt London the most August 19, 2025 Labour’s mulled property tax could stall the housing market - and it's Londoners who will suffer most, writes Steven Mulholland.
Tax hikes and Employment Rights Bill driving firms to contractors August 19, 2025 Business pressures from increased costs are prompting leaders to seek alternatives to stay afloat, including going off-payroll by drafting in contractors.
Most millionaires envisage better life away from the UK August 19, 2025 Nearly two thirds of millionaires envisage a better quality of life outside the UK, according to a new poll that suggests a growing pessimism among the better-off. The poll of over 1,000 UK residents with a net worth of at least £1m has suggested that Brits are less positive about life at home as 60 [...]
Stephen Kinnock quizzed on his dad’s calls to ditch two-child benefit cap August 18, 2025 Stephen Kinnock said that discussions in government around scrapping the two-child benefit cap are “ongoing”, when asked about his father Lord Kinnock’s calls to ditch the policy. In an interview with BBC Breakfast, the health minister said: “Decisions about the Budget, decisions like that have major financial implications, they are a matter for the Chancellor.” [...]
‘Weak fiscal position’ pushes UK borrowing costs to 27-year high August 18, 2025 Government borrowing costs have jumped over the past two weeks, flashing warning signs for Chancellor Rachel Reeves. The 30-year gilt yield hit 5.57 per cent on Friday before falling back to stick around 5.54 per cent when trading began on Monday. Gilt yields are higher than levels seen in April after President Trump announced sweeping [...]
Rachel Reeves to slash environmental protections to boost builders August 18, 2025 Rachel Reeves is looking to take the axe to environmental protections blocking infrastructure projects in a bid to boost Labour’s building pledges. The Chancellor is considering reforms to prevent nature concerns from inhibiting new developments as she desperately looks to supercharge her growth agenda. Labour’s Planning and Infrastructure bill is in the committee stage at [...]
Banks ombudsman fights for relevance amid Treasury crackdown August 18, 2025 The Financial Ombudsman Service is battling against a litany of obstacles as the government looks to “fundamentally” change its regulatory makeup. The organisation was rocked earlier this year by a leadership crisis following the abrupt departure of chief executive Abby Thomas in February. A Treasury Committee report, published in July, revealed Thomas had been dismissed [...]