Winter fuel payment U-turn not enough to win back support, Labour MPs say May 6, 2025 The government is under increasing pressure from its backbenchers to reverse winter fuel cuts amid warnings that even a U-turn would not go far enough to restore trust with voters. There is talk that senior government officials are reconsidering government’s earlier decision to restrict winter fuel payments to pensioners who qualify for income-related benefits, which [...]
How to shield your pension from Labour’s inheritance tax raid May 6, 2025 According to new analysis by Quilter, just two per cent of estates subject to inheritance tax (IHT) are currently taking advantage of surplus income gifting to reduce their tax liabilities. Based on freedom of information (FOI) requests carried out by the wealth management firm, just 1,490 estates are currently taking advantage of the rules, but Quilter expects [...]
UK services sent into decline amid ‘market turbulence’ May 6, 2025 UK output was sent into decline by “market turbulence” in April for the first time in one and a half years, prompting fears that Chancellor Reeves’ £40bn tax raid last autumn was damaging the country’s services economy. The services sector, which is seen as the engine behind UK growth, had been on a 17-month winning [...]
Non-dom exodus could cost the Treasury £12.2bn May 6, 2025 Chancellor Rachel Reeves’ decision to remove tax exemptions for non-doms could lead to “billions” in losses from the public purse, new research has suggested, in a blow to the Treasury’s fiscal plans. Reeves followed through with manifesto pledges by removing tax exemptions from mega-rich non-domiciled individuals at last year’s Autumn Budget, something the Office for [...]
Tories take note: Reform will come at Labour from the left May 6, 2025 As the dust settles on the local elections, party leaders will be busy trying to identify the right lessons. For the Conservatives, the picture is both clear and complicated. As Kemi Badenoch put it, her party faced a “bloodbath” in councils across the country. That’s the clear bit. The complicated bit concerns what she should [...]
When words matter more than numbers at the Bank of England May 5, 2025 City analysts have pencilled in their predictions for Thursday. Here’s how almost all of them likely read. Interest rates will be cut to 4.25 per cent, the Bank of England’s inflation forecast for this year will exceed its two per cent target and President Trump’s tariffs will be highlighted as a detriment to UK growth. [...]
Reform’s local election sweep puts Starmer and Badenoch in hot seat May 3, 2025 Sir Keir Starmer and Kemi Badenoch face pressure to reverse their parties’ fortunes after the local elections saw Reform UK make major gains across England. Nigel Farage hailed the results as “the end of two-party politics” and “the death of the Conservative Party” as Reform picked up 10 councils and more than 600 seats in [...]
Mercer: Pension funds need better pick of UK investments for key deal to work May 1, 2025 The government’s proposed pensions deal will not boost growth unless better UK investment opportunities are put on offer, the boss of one of Britain’s biggest funds has warned. In an interview with Morning Wire, Benoit Hudon suggested a stronger pipeline of UK assets was needed as current options did not deliver good enough returns for [...]
Ed Miliband’s reckless Net Zero ideology April 29, 2025 Rumours persist that Ed Miliband, the energy secretary, could be shunted out of his role when the Prime Minister conducts his first major reshuffle since last summer’s election victory. Keir Starmer has the perfect excuse; the world has changed. He’s fond of saying that, and of course it’s true; huge changes are afoot and the global economy [...]
Employment Rights Bill will ‘cut retail staff numbers’ April 29, 2025 Labour’s Employment Rights Bill will lead to job cuts and price hikes, a poll of 31 major retailers has found, in the latest sign the government’s legislative agenda risks harming economic growth. The legislation, which is nearing its final stages in Parliament, introduces sweeping changes to zero-hours contracts, sick pay, leave, flexible working and dismissal, [...]