Rachel Reeves told ‘copy Margaret Thatcher’ with bank tax raid August 29, 2025 Britain’s banking titans are back in the hot seat as Rachel Reeves faces renewed calls to hike taxes on lenders. The self-described “iron Chancellor” has been advised to take a leaf out of Margaret Thatcher’s book with a fresh levy on banks that would hand the Treasury up to £8bn a year. The levy – [...]
Bunzl: FTSE 100 giant hit by Rachel Reeves’ tax grab August 26, 2025 Profit at distribution titan Bunzl took a hit in the first six months of 2025 as challenging economic conditions weighed on the firm’s books. The FTSE 100 giant’s adjusted operating profit came in at £404.5m for the half, an 11.2 per cent drop from £455.5m for the same period the year prior. Despite this shares [...]
Bar boss quits Labour’s hospitality group after tax concerns August 23, 2025 A top boss of a British bar chain has quit a government hospitality taskforce after facing pressure over his criticism of Rachel Reeves’ tax agenda. Alex Reilley, the chairman of Loungers, has exited the Hospitality Sector Council (HSC) after receiving backlash from civil servants for publicly criticising Labour’s economic policies, The Telegraph reported. “I was [...]
Rachel Reeves’ stealth tax raid to slap extra £7,000 on high earners August 21, 2025 Rachel Reeves would force Britain’s high earners to face a mounting tax burden if she opts to extend the freeze on income tax thresholds in the autumn Budget. The Chancellor would slap an extra £7,000 in income tax on Brits earning over £100,000 if the freeze is maintained, analysis from wealth manager Rathbones reveals. An [...]
Zempler Bank grows profit on the back of high interest rates August 6, 2025 Zempler Bank has recorded its third consecutive year of profitability after a cheering jump in customer deposits and a strong performance in interest income. The UK fintech – formerly known as Cashplus – recorded a 58 per cent leap in pre-tax profit to £5.2m for the year ending March 31 2025. It comes as deposits [...]
Rachel Reeves could use bank windfall tax to plug Labour’s U-turns July 31, 2025 Rachel Reeves could launch a fresh tax grab on banks to plug the spending holes left by Labour’s recent U-turns, new analysis has found. The Chancellor is poised to hike taxes in the Autumn Budget after a series of government policy switches eroded her already wafer-thin fiscal headroom of £9.9bn. This comes as fresh research [...]
HSBC boss: Rachel Reeves hiking bank tax would dent growth July 30, 2025 The boss of FTSE 100 juggernaut HSBC has become the latest banking voice to warn Rachel Reeves against raising taxes on banks over fears it would harm economic growth. Georges Elhedery, HSBC’s chief executive, said on Wednesday any further financial pressures on lenders could spark trouble for the UK economy. “Additional taxation on banks runs [...]
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 [...]
Rachel Reeves’ tax hikes are driving wealthy overseas investors to flee London July 14, 2025 Chancellor Rachel Reeves’ tax hikes have had the “feared impact” of driving wealthy overseas investors to flee London to escape double taxation of their worldwide income, the company behind The Shard has said. Real Estate Management (UK), which is ultimately owned by the State of Qatar, has revealed the exodus has resulted in it being [...]
London hiring plunges as Rachel Reeves’ tax grab weighs July 14, 2025 London hiring has suffered a steep drop as rising costs weigh on employers following Rachel Reeves’ tax grab. Permanent staff places in the capital – hires with no fixed end date – fell at the sharpest rate in 22 months in June. Meanwhile, temporary bills, which track the total income recruitment agencies earn from placing [...]