Wealth tax ‘could cost the UK £100bn in 10 years’ October 29, 2024 The UK is especially vulnerable to the ill effects of a wealth tax and could suffer a near £100bn hit to its GDP in a decade were one introduced, a paper out today has argued. A two per cent tax applied to those with a net wealth of £10m would incur a 0.4 per cent [...]
Labour’s national insurance hike could cost workers hundreds October 28, 2024 HMRC's projections suggest that a two percentage point hike to employers' national insurance would raise £18bn.
Jeremy Hunt accuses OBR of making a ‘political intervention’ over Labour’s blackhole review October 28, 2024 Chancellor Rachel Reeves has used the supposed existence of the £22bn blackhole as a justification to hike taxes in Wednesday's Budget.
House prices rising slowly but 2024 still a ‘bumper year’ October 28, 2024 2024 is set to be a “bumper year” for house sales thanks to rising real incomes and lower mortgage rates, according to Zoopla’s latest house price index. The level of new sales has increased to its highest level since late 2020, the survey showed. There are 306,000 homes currently working through the buying process, 26 [...]
Why businesses are nervous ahead of the Budget October 28, 2024 Businesses are wary as Chancellor Rachel Reeves puts the final touches to her first Budget.
Reeves fiscal rule change puts economy in danger of ‘crumbling’, City analyst warns October 28, 2024 "Tinkering with the definition of borrowing could be a big, if temporary, win," Nick Winters, a partner at Blick Rothenburg said.
Labour’s pro-business boasts ring hollow October 28, 2024 Rachel Reeves once vowed that if Labour won they “would be the most pro-business government this country has ever seen”. With just two days to go until the Budget, that pre-election pledge appears to be in the gutter. Reassuring the business community was an essential part of Labour’s pitch for power, but almost everything they’ve [...]
US and European interest rate cuts hang in the balance ahead of crunch week October 27, 2024 Key economic figures in the US and Europe are set to give investors clues on how much further both regions' central banks could go in cutting interest rates this year.
Digital pound: Bank of England supports Britcoin to boost innovation October 27, 2024 Speaking at 39th Annual International Banking Seminar in Washington, Andrew Bailey said that there was a "strong need" to modernise payments practices in areas like cross-border transfers.
Autumn Budget 2024: Working people debate a ‘terrible illusion’, former Bank of England governor says October 27, 2024 Chancellor Rachel Reeves is set to increase taxes significantly in Wednesday's Budget, with reports indicating that she will raise £20bn by hiking employers' national insurance.