Defence spending to rise to 2.5 per cent by 2027 via aid cuts, Starmer confirms February 25, 2025 Sir Keir Starmer has announced the “biggest sustained increase in defence spending since the end of the Cold War” as he confirmed the UK would spend 2.5 per cent of GDP [gross domestic product] by 2027. The Prime Minister unveiled the policy in a statement to the House of Commons after reports he was set [...]
Reynolds sorry for calling himself solicitor but denies ‘misrepresentating’ February 25, 2025 Jonathan Reynolds has apologised for describing himself as a solicitor in Parliament, but has insisted he was not “misrepresenting myself professionally”. The business secretary has been accused of claiming to have been a solicitor, despite only ever being a trainee, before becoming an MP, including in a 2014 speech in the House of Commons, on [...]
Inheritance tax: Ministers urged to ‘do right thing’ ahead of farming summit February 25, 2025 The government is being urged to “do the right thing” over its plan to bring in inheritance tax for farm businesses worth more than £1m, following months of protests by farmers. Ministers are being encouraged to “reset” their relationship with Britain’s farmers, ahead of the National Farmers’ Union (NFU) conference on Tuesday. President Tom Bradshaw [...]
Defence spending: 2.5 per cent of GDP is ‘ambitious,’ minister says February 23, 2025 Raising UK defence spending to 2.5 per cent of national income is “ambitious”, a cabinet minister has insisted as the government faces pressure to increase investment. It comes amid uncertainty over the future of the war in Ukraine, as the US began negotiations with Russia, excluding Kyiv from talks. Education secretary Bridget Phillipson sought to [...]
Payments regulator reportedly could be scrapped as No10 slashes red tape February 23, 2025 The UK’s payments regulator could be scrapped and folded into another regulator as part of efforts by No10 to slash red tape, according to Sky News. Ministers are mulling whether to abolish the Payment Systems Regulator (PSR) and amalgamate it into the Financial Conduct Authority (FCA), the broadcaster has reported. A decision could come within [...]
Starmer to set date to increase defence spending during Trump visit – report February 23, 2025 Sir Keir Starmer is expected to confirm a timeline to raise defence spending and give Donald Trump an invitation for a state visit when he visits Washington next week, per a report. The Prime Minister will have to walk a tricky line when he meets President Trump, balancing the UK’s support for Ukraine with the [...]
Are Londoners losing their jobs thanks to Rachel Reeves’ tax hikes? February 21, 2025 Morning Wire’s opinion and features editor, Alys Denby, discusses the ongoing negative impact of Rachel Reeves’ jobs tax and whether rumours of the death of DEI have been exaggerated – plus more.
Pressure on Rachel Reeves grows as tax receipts disappoint February 21, 2025 Tax receipts rose at a slower pace than expected in January, new figures show, in a sign that the poor performance of the economy could have damaging fiscal consequences. According to figures from the Office for National Statistics (ONS), the government recorded a monthly surplus of £15.4bn, meaning it received more in taxes than it [...]
Instead of allowing SMEs to thrive, Labour is punishing them February 21, 2025 From day one, this Labour government has prioritised the interests of unions and the public sector over the businesses that actually generate jobs and growth, says Danielle Dunfield-Prayero Labour’s true colours are now on full display. Despite years of warm words to business in the run-up to the General Election, their instincts remain unchanged: the [...]
Rachel Reeves urges financial services to back emerging markets February 20, 2025 Rachel Reeves has met with top financial services firms to urge them to work with development institutions and within “emerging markets”. The Chancellor met with firms including Aviva, HSBC and Schroders in Canary Wharf today, as she called on industry leaders to seize on growth opportunities and shore up London as a leader in development [...]