Banks back in crosshairs as Labour eyes tax hikes July 31, 2025 George Osborne’s likely payday from the sale of Robey Warshaw to US giant Evercore won’t be the first time he’s extracted money from the banking sector. In his inaugural 2010 Budget he announced a UK bank levy of 0.05 per cent on certain bank liabilities. Conceived in the wake of the 2008 financial crisis, the [...]
It’s not the rich who fill the gaps when non-doms leave Britain – it’s you July 30, 2025 16,000 high-net-worth individuals are set to leave Britain this year, taking with them jobs, investment and growth. Here’s how we win them back… We talk a lot about wealth in Britain. We just don’t talk enough about what happens when it walks out the door. Because it’s happening. And faster than anyone wants to admit. [...]
IMF upgrades world economy’s growth forecast as Trump’s tariffs reduced July 29, 2025 The world economy will not suffer as badly from President Trump’s tariffs as previously thought, the International Monetary Fund (IMF) has predicted. Global growth is set to be three per cent this year, the IMF said, which is higher than its previous 2.8 per cent forecast made in April. The world economy will grow by [...]
JP Morgan: Rachel Reeves could slash headroom to avoid large tax rises July 29, 2025 Chancellor Rachel Reeves is poised to reduce her wafer-thin £9.9bn headroom even further at the Autumn Budget to avoid making sweeping tax rises, analysts at one of the world’s biggest banks have predicted. Leading think tanks and City analysts have warned that Rachel Reeves will look to raise as much as £30bn in taxes later [...]
Barclays joins FTSE 100 peers in warning against bank tax hike July 29, 2025 Barclays has become the latest banking giant to send a firm warning to Rachel Reeves to avoid bank tax hike as the Chancellor scrambles to maintain her wafer-thin fiscal headroom. The FTSE 100 giant’s boss CS Venkatakrishnan, known as Venkat, said the government’s mission for growth would not align with slapping a tax increase on [...]
Trump hails relationship with Starmer – but no steel exemptions yet July 28, 2025 In a Scottish golfing holiday that has swiftly given way to a multi-sided international summit, Keir Starmer has held a bilateral meeting with Donald Trump which has spanned from the UK-US trading relationship to immigration policy and international conflicts. Business secretary Jonathan Reynolds had tempered expectations of immediate steel tariff progress ahead of the meeting, [...]
Goods now make up just 40 per cent of UK exports July 28, 2025 The proportion of UK exports made up of goods has sunk to a record low, with the economy ever more dependent upon services. That’s according to analysis done by the Financial Times based on Office for National Statistics (ONS) data, which found that goods now account for just 40.8 per cent of exports. Back in [...]
Labour to introduce new licensing rules to boost high street venues July 26, 2025 The Labour government has pledged to simplify the opening process for new high street venues in a bid to ramp up British hospitality prospects. Chancellor Rachel Reeves has said new licensing framework, which comes as part of Labour’s overhaul on planning, plans to fast-track permissions for al fresco dining, helping to “protect pavement pints”. The [...]
Rachel Reeves urges cabinet to boost British jobs as employment slides July 26, 2025 Rachel Reeves has told cabinet ministers to ensure government contracts go to companies that will boost British workers as employment figures continue to struggle. The Chancellor, along with Chancellor to the Duchy of Lancaster Pat McFadden, told their colleagues that the billions in public spending on transport and infrastructure projects must be utilised as an [...]
Businesses to pay £1.1bn in new packaging fees to councils July 26, 2025 Councils in England are set to receive a share of £1.1 billion in recycling funding taken from money charged to companies for the packaging they produce. Under the current system, local councils have footed the bill for disposing of items such as milk bottles, cereal boxes and soup tins using taxpayers’ money. But the new [...]