Peel Hunt: There’s a ‘missing piece’ in Reeves’ City growth push November 20, 2024 The government has demonstrated a “fundamental shift” in its approach to growth but must address the key issue of pushing investment into the UK stock market, Peel Hunt has said. In an a note to investors today, Peel Hunt’s head of research, Charles Hall, stressed that while Rachel Reeves‘s Mansion House speech had been a [...]
Lidl boss warns retailers are ‘reeling’ after Budget tax raid November 20, 2024 The boss of budget supermarket Lidl has warned retailers are “reeling” following Labour’s tax raid in the Autumn Budget. The German supermarket’s UK boss Ryan McDonnell said the discount brand was staring down the barrel of “tens of millions of pounds” in extra costs. This comes after the Chancellor unveiled a £25.7bn tax-raising package, with [...]
Surging housing costs push inflation back above Bank of England target November 20, 2024 Inflation has risen back above the Bank of England’s two per cent target, the latest data has shown today. According to the latest figures from the Office for National Statistics (ONS) consumer price inflation (CPI) hit 2.3 per cent in October. The figure came in above economists projections. Economists had forecast CPI to come in [...]
Reeves must answer ‘incredibly serious’ questions over CV, Tory MP demands November 19, 2024 Rachel Reeves must answer “incredibly serious” questions over claims she “misrepresented” her CV, a Tory MP has demanded. Richard Holden wrote to the Chancellor following reports she had exaggerated her professional experience at the Bank of England (BoE) and Halifax Bank of Scotland (HBOS). Reeves told Stylist magazine in 2021 that she spent a decade [...]
Exclusive: Labour’s relationship with business ‘at a critical point’, retail boss warns November 19, 2024 If a week is a long time in politics, then four months in retail is a lifetime. When Helen Dickinson, the chief executive of the British Retail Consortium (BRC), last sat down with Morning Wire in late July, she could hardly have been more effusive in her praise for the incoming Chancellor and her business [...]
Tractors circle Westminster as farmers protest inheritance tax rise November 19, 2024 Thousands of farmers marched on Westminster today in protest against the government’s plans to impose inheritance tax on farms. The Chancellor Rachel Reeves has been urged to meet with representatives from the industry after she unveiled plans in the Budget to impose inheritance tax (IHT) on farms worth more than £1m from April 2026. The [...]
Retailers ‘right’ to warn of Budget job cuts, says Bank of England governor November 19, 2024 The governor of the Bank of England, Andrew Bailey, has said a group of retailers were “right” to warn of sweeping job cuts as a result of Labour’s punishing £40bn tax raid at the Budget. A group of Britain’s biggest supermarkets and retail chains, including Tesco, M&S, Boots and B&Q, wrote to the Chancellor Rachel [...]
Starmer risks resurrecting Cameron’s failed China script November 19, 2024 The Prime Minister has been mingling with world leaders in Brazil, and while his government continues to face an array of domestic challenges (from tractor protests to debates on assisted dying) he has managed to pick up a hefty endorsement from one of the world’s most powerful people. “The new UK government is working to [...]
Five things Rachel Reeves should do if she’s serious about growth November 19, 2024 Rachel Reeves’ pensions reforms are welcome, but they are treating the symptoms, not the causes of low growth. Here’s what she should do next…. In her Mansion House speech last week, Rachel Reeves announced the consolidation of the 86 Local Government Pensions Schemes (LGPS) into eight ‘megafunds’, unlocking deep reserves of investment finance. This is [...]
‘Vital the government hears directly from UK plc:’ Consultation on captive insurance reform launched November 18, 2024 UK government launched a consultation into a regime for a captive insurance industry, as CEO warns it is vital the government hears directly from UK plc