Wes Streeting’s capital gains tax plan risks ‘disrupting’ growth May 26, 2026 Wes Streeting’s plans to align capital gains taxes while introducing an investment allowance could be “disruptive” for growth as City advisers have become divided over the benefits of sweeping reforms. Streeting told the BBC last week that he backed a plan, first proposed by the Centre for the Analysis of Taxation (Centax) and later adopted [...]
London makes up more than a third of UK corporation tax receipts May 26, 2026 London accounts for more than a third of total corporation tax receipts across the UK, new data analysed by Morning Wire has shown. Data shared by the Office for National Statistics (ONS) has shown that London makes up around 36 per cent of total corporation tax income generated each year, highlighting the capital city’s dominance [...]
David Lammy rejects higher pay rise for judges amid recruitment crisis May 26, 2026 David Lammy turned down an independent recommendation for a higher judicial pay increase, instead approving a 3.5 per cent rise amid government efforts to tackle recruitment challenges for senior judges. The Senior Salaries Review Body (SSRB) report, published last week, recommended a 3.8 per cent pay increase across the judiciary, estimated to cost taxpayers around [...]
As it happened: Petrol prices surge to Iran war record as Kingfisher helps lift stocks higher May 26, 2026 Good morning and welcome back to the Morning Wire liveblog. The City is returning from the Bank Holiday break to find the tensions in the Middle East continuing in a stalemate – or perhaps a further escalation than last week. After days of threats President Donald Trump has issued a strike on Iran, which he [...]
Labour has become the party of welfare, not work May 26, 2026 A generous interpretation of events would be to concede that Labour has avoided any attempt at welfare reform because it’s been waiting for the conclusions of Alan Milburn’s review into the crisis of youth unemployment. Milburn, who served as health secretary under Tony Blair, will publish the first part of his government-commissioned report this week, [...]
End quantitative tightening now May 26, 2026 Ending active quantitative tightening is not monetary loosening. The Bank must stop adding avoidable pressure to the gilt market.
James Reed: UK needs entrepreneurs desperately. So I’m gonna fund them May 26, 2026 My father founded Reed in 1960 with just £75. My new fund will help create the next generation of entrepreneurs, says James Reed.
Former SNP chief admits embezzling £400K of party funds to ‘bankroll lavish lifestyle’ May 25, 2026 The former chief executive of the Scottish National Party, Peter Murrell, who is also Nicola Sturgeon’s estranged husband, has been remanded in custody after pleading guilty to embezzling hundreds of thousands of pounds from the party. Murrell pleaded guilty on Monday morning when he appeared at the High Court in Edinburgh. Murrell admitted using “false [...]
UK should learn from Australia’s pension funds May 25, 2026 Australia's pension funds have a long-term, globally minded investment approach that many countries, including the UK, admire.
Reform UK tax cut pledge raises doubts May 24, 2026 Reform UK’s tax cut pledge for workers doing overtime hours is facing criticism from economists across the political spectrum amid doubts it would boost productivity. The party said it would scrap income tax above a 40-hour week for workers on less than £75,000, costing around £5bn a year and paid for through cuts to welfare [...]