Terry Smith: Reeves must drop tax hikes to attract UK investment May 6, 2025 Star fund manager Terry Smith has called on Chancellor Rachel Reeves to cancel her tax hikes to make investment in the UK more attractive. Smith, who runs the £20bn Fundsmith Equity fund, argued that to boost the quality of UK companies the government should “reverse a lot of the policies that are in place with [...]
Rachel Reeves’ tax hikes will cost me £1m – Hooch tycoon March 31, 2025 The founder of the alcoholic drinks empire behind the likes of Hooch and VK has warned the tax hikes announced by Rachel Reeves will cost him an extra £1m. Steve Perez, the boss of Derbyshire-headquartered Global Brands, added that the Chancellor has “stacked the odds” against businesses like his and that he has “no choice” [...]
Chancellor defends budget choices ahead of Spring statement March 23, 2025 Chancellor Rachel Reeves has defended the government’s recent budget decisions, claiming they were necessary for economic stability amid uncertain global conditions. In an interview with BBC’s Laura Kuenssberg on Sunday, Reeves emphasised the importance of making difficult choices to ensure long term fiscal responsibility. “There are always going to be costs for every choice you [...]
Week in Business: Will more defence spending mean higher taxes? February 27, 2025 Cutting the international aid budget to boost defence spending – sounds like a fair exchange in a time of war and hazard – but there’s more to this announcement than meets the eye. The Prime Minister was deadly serious when he stood up in the Commons this week to declare that the country faces a [...]
Andy Burnham slammed for Manchester tourist tax plans February 21, 2025 Andy Burnham has been slammed by the chief executive of UKHospitality after backing plans for a new tourist tax to be introduced in Manchester. The mayor of Greater Manchester said earlier this week that tourists visiting the city region should pay a “proper” mandatory “tourist levy”. He added that he wanted to see Manchester city [...]
‘This is Keir Starmer’s Poll Tax’: Labour warned inheritance tax protests won’t stop February 17, 2025 The Labour government’s reforms to farmers’ inheritance tax announced in the Autumn Budget has been branded as “Keir Starmer’s Poll Tax”. William Lees-Jones, who owns and runs Manchester-based JW Lees, which has produced real ale since 1828, added that the Prime Minister is “losing the argument and feeling rattled”. The pubs boss has liked the policy, which [...]
‘Reason for cautious optimism’: UK consumer confidence rebound on cards January 20, 2025 Consumer confidence is set for a pick-up this year as the economy starts to improve and the UK adjusts to higher costs, according to a new survey. While the end of last year was gloomy for both businesses and consumers, analysts at Deloitte have said there is “reason for cautious optimism” going into the summer. [...]
Change in business rates could cost firms millions, research finds December 10, 2024 A number of sectors could be hit with hundreds of millions of pounds in extra business rates due to “poorly thought-out legislation”, according to new research. The analysis, conducted by property consultancy Colliers, highlighted the impact that the new business rates legislation proposed by the Labour government could have on larger retailers and hospitality businesses. [...]
Playtime’s over? Reeves’s tax raid threatens children’s play centres November 17, 2024 The UK’s indoor play industry has warned it faces a “severe financial crisis” following the Chancellor’s multi-billion pound Budget tax raid. The Association of Indoor Play, which represents 1,100 firms including laser parks, leisure centres and “baby sensory” companies, said Rachel Reeves’s fiscal plans threatened “the very core of our industry” and placed many indoor [...]
Collapse in SME employment growth serves as ‘wake up’ call to government November 12, 2024 Employment growth within Britain’s small and medium sized enterprises (SMEs) fell drastically last month in the run-up to the Autumn Budget’s tax hike on employers. The rolling six-month average for annual employment growth in full-time jobs dropped to 2.6 per cent at the end October, down from 12.8 per cent in October of last year, [...]