Thin end of the wedge? LLPs brace for major tax overhaul July 2, 2026 The maths genius behind trading firm XTX, Alex Gerko, stands high in the rankings of Britain’s top taxpayers, having paid more than £330m to HMRC last year. For good measure, he also handed out more than £150m to charities and good causes in 2025, focusing on education and supporting talented math graduates to pursue PhDs [...]
Starmer claims fiscal headroom can fill £5bn defence funding gap July 1, 2026 Sir Keir Starmer has suggested the existing fiscal headroom can be used to fill a defence funding gap of around £1bn a year. During Prime Minister’s Questions, Starmer accused the Conservatives of a “faux outrage” over complaints about £4.7bn out of £15bn being left for funding at the Budget this year. Starmer said that a [...]
Exclusive: Reynolds never met Thames Water investors before rejecting rescue deal July 1, 2026 Environment secretary Emma Reynolds never met the investors behind a proposed Thames Water rescue package before slapping down their deal out of hand last month, City AM can reveal. Reynolds, who is the minister responsible for water policy, has left officials in her department to meet representatives of a large creditors’ group, which includes investment [...]
Starmer stumps up half the amount demanded by defence chiefs June 30, 2026 Sir Keir Starmer has coughed up just half of the amount of funding military officials requested in the long-awaited Defence Investment Plan. During a speech led by defence secretary Dan Jarvis, Chancellor Rachel Reeves and the outgoing Prime Minister, ministers said they made the “right choices” and defended plans to back investment on drones and [...]
Starmer to unveil hotly debated Defence Investment Plan in final act June 29, 2026 Sir Keir Starmer will unveil the highly-anticipated Defence Investment Plan in one of his final acts as Prime Minister. Starmer will publish full funding plans for the Defence Investment Plan (Dip), the government’s 10-year blueprint for armed forces, on Tuesday. He will say that more than £5bn over four years will be invested into drones, [...]
Trump blocked from sacking Fed official in landmark Supreme Court ruling June 29, 2026 A landmark ruling from the US Supreme Court has underlined the independence of the country’s central bank by blocking President Donald Trump from dismissing a Federal Reserve official. The knife edge five-to-four decision was handed down on Monday. It ruled that Trump cannot fire Lisa Cook as a Fed governor, a post she has held since 2022. [...]
Streeting tax policies could cost the Treasury nearly £8bn June 29, 2026 Adopting Wes Streeting’s plans to hike capital gains tax could cost the Treasury billions of pounds and lead to a reduction in retail investment, new analysis suggests. Last month, Streeting, who is reportedly in the running to succeed Rachel Reeves as Chancellor should Andy Burnham enter No 10, proposed that capital gains tax (CGT) should [...]
‘Anti-growth’: Labour blocks City of London skyscraper plans June 29, 2026 The government has been branded “anti-growth” by the City of London Corporation after a minister blocked plans to build tall buildings near the Tower of London. In a letter to planning chiefs, the housing minister Matthew Pennycock said the authority for the Square Mile should not be able to go ahead with its skyscraper plans [...]
Is Andy Burnham a left-wing Liz Truss? June 29, 2026 Say what you like about Andy Burnham (and I intend to say a lot) but he’s not short on ambition. Armed with a single by election victory he now intends to oversee “the biggest change in our lifetime to the way Britain is run.” The PM-in-waiting had popped down to London for some selfies before [...]
‘Biggest change in our lifetime’ – Burnham vows ‘greater public control’ over utilities June 29, 2026 Andy Burnham has vowed to empower local government to take “greater public control” over energy, housing, water and transport as councils are set to be handed greater powers as part of sweeping economic and political reform. In a speech on Monday setting out his 10-year vision to raise living standards, the likely next Prime Minister [...]