Goldman Sachs: Tax increases will not improve public finances September 10, 2025 Chancellor Rachel Reeves has been warned by a leading Wall Street bank that hiking taxes later this year will not improve the state of public finances. Reeves is widely expected to raise taxes by at least £20bn at this year’s Autumn Budget, with property owners, gambling companies and pension pots likely to be hit with [...]
Rachel Reeves defends Labour against bond market selloff September 9, 2025 Chancellor Rachel Reeves has launched a defence of Labour’s economic record and blamed her Tory predecessors for the mass selloff in the gilt market despite growing criticism of the government’s fiscal policies. In a parliamentary session before MPs, Reeves said the government had made “fully funded and fully costed” plans to support its £190bn splurge [...]
Race for Labour deputy reignites wealth tax debate September 9, 2025 Labour’s Islington South and Finsbury MP Emily Thornberry has thrown her hat in the ring for Labour deputy leader and proposed a new wealth tax as part of her campaign, prompting Chancellor Rachel Reeves to strike down calls by ruling out its introduction. Thornberry, the former shadow foreign secretary under Jeremy Corbyn’s leadership who now [...]
Tube strikes: Sadiq Khan urged to compensate hospitality sector September 9, 2025 Mayor of London Sadiq Khan has been told to ease the financial burden on the hospitality sector as firms face the crunch of tube strikes. Khan, who was criticised for his absence as the strikes got underway, has been urged to give the sector a “rent and rate holiday” so they can weather the strikes. [...]
UK economy dubbed ‘stagflation-lite’ as Starmer talks up ‘patriotic’ growth mission September 9, 2025 The UK economy is not expected to have recorded any growth in the month of July as leading analysts suggest that a lack of clarity over Labour’s future policies are hitting firms – despite a call from the prime minister for ministers to take on a “patriotic duty” to drive growth. Rachel Reeves and Keir [...]
Rachel Reeves’ tax raids drag UK to world’s worst hiring slump September 9, 2025 Chancellor Rachel Reeves’ tax raids on employers have continued to harm the economy with fresh figures showing the UK had the worst hiring slump across the globe. The UK suffered the biggest global drop in year-on-year planned hiring, contracting 17 percentage points. Singapore, Hungary and Finland, which followed, all contracted nine per cent, according to [...]
Starmer’s new team faces same old problem September 9, 2025 Good news from Downing Street as we’re told that economic growth is back on the agenda. Keir Starmer’s revamped cabinet meets for the first time today and the prime minister will apparently tell this bright new team to “step up a gear” and focus on the economy. The briefings that accompanied the wave of new [...]
Meet the new ministers driving Labour’s latest growth mission September 9, 2025 A £25bn fiscal black hole, fading housebuilding hopes and lacklustre productivity growth marked a troublesome end to the first year in office for the new occupants of Downing Street this summer. While the resignation of Angela Rayner – the popular Labour figure who had called for the Treasury to turn left and tax the wealthy – [...]
Brits resort to ‘job-hugging’ as tax hikes bite September 9, 2025 Workers are now resorting to ‘job-hugging’ after last year’s Labour tax raid had a chilling impact on the UK jobs market. The £40bn cash grab, unveiled by Rachel Reeves in last year’s Autumn Budget, has triggered a significant slowdown in hiring and has resulted in substantial job losses nationwide. As a result of these changes, [...]
No 10 backs ‘fed up’ Londoners in tube strikes row – as pressure grows on Khan September 8, 2025 No 10 has backed “fed up” Londoners hit by tube strikes on Monday as Mayor Sadiq Khan was urged to find a solution with the trade union RMT to end industrial action. People across the capital have been hit by strikes stopping services on the London Underground, with disruption to last until Friday. The prime [...]