Autumn Statement: This ‘pragmatism’ looks like a recipe for flat growth November 17, 2022 After the Autumn Statement, what does the Tory party stand for? Taxes on aspiration. Taxes on entrepreneurs and small investors. And stealth raids on businesses.
Market reaction to autumn statement a far cry from Truss and Kwarteng’s mini-budget November 17, 2022 Financial markets largely glossed over chancellor Jeremy Hunt’s £55bn worth of tax hikes and spending cuts today, a marked change from them spitting out his predecessor Kwasi Kwarteng’s mini-budget. London’s FTSE 100 closed broadly flat, edging 0.06 per cent lower, while the domestically-focused mid-cap FTSE 250 index bumped 0.05 per cent high. Most of the [...]
Hunt targets highest earners in tax grab as chancellor raises £55bn November 17, 2022 The UK’s highest earners have been targeted as a part of Jeremy Hunt’s tax grab, with the top 45p threshold of Income Tax slashed. The top tax bracket has been reduced from £150,000 to £125,140, while he has also frozen the Income Tax thresholds for the two lower brackets in a stealth hike. Hunt announced [...]
OBR: UK is already in recession and taxes on course for post World War II high November 17, 2022 The UK is already in a recession that will burn a huge hole in the public finances, forcing the government to hike taxes to their highest level since just after the Second World War in the 1940s, the country’s fiscal watchdog warned today in forecasts published alongside Jeremy Hunt’s autumn statement. The Office for Budget [...]
Police cordon off Houndsditch over report of person ‘falling from height’ November 17, 2022 Police were called to an emergency in the heart of the Square Mile today amid reports a person was “falling from height”. The incident unfolded at around 2pm in Houndsditch, with police putting up a cordon and urging the public to stay away. In a tweet sent this afternoon, the force said: “Officers from the [...]
Reeves says UK in ‘doom loop’ and being ‘held back’ as Hunt hikes taxes November 17, 2022 Rachel Reeves has described the UK as being in an economic “doom loop” as she hits out at the government’s newly announced tax hikes. Labour’s shadow chancellor said the “mess we are in is the result of 12 weeks of Conservative chaos, but also 12 years of Conservaitve economic failure”. Chancellor Jeremy Hunt announced public [...]
Sunak says he ‘supported’ landmark Biden and Xi meeting at G20 November 17, 2022 Rishi Sunak has said he supported a landmark meeting between Joe Biden and Xi Jinping at the G20 summit as he signals his intention for a more collaborative relationship with Beijing. The Prime Minister said “China poses significant challenges to our values and to our interests and indeed our economic security”, but that “it is [...]
As it happened and live reaction: Jeremy Hunt’s Autumn Budget 2022: UK is now in recession November 17, 2022 Welcome to City A.M.’s live updates as the Chancellor of the Exchequer, Jeremy Hunt, delivers the government’s Autumn Budget for 2022. Here the news team will bring you all the key points, policy changes, opinion, analysis, responses from experts, industry reaction and more. Get in touch and let us know your views via news@cityam.com or [...]
All eyes on UK Autumn Budget as Sunak’s government goes Hunt-ing for cash November 17, 2022 Markets’ main focus today will be on Westminster and Chancellor of the Exchequer Jeremy Hunt as he delivers the long-anticipated Autumn Statement. Over the past few weeks, Brits heard an array of estimates of the size of the fiscal black hole at the heart of the public finances, ranging from £40bn to £55bn. “However, this [...]
The taxman cometh: Hunt to deliver toughest Budget in years today November 17, 2022 Jeremy Hunt will launch a vicious round of tax hikes and spending cuts today as he vows to “deliver strong public finances”. The chancellor tonight said “families across Britain make sacrifices every day to live within their means” and that “so too must governments” as he prepared to lay the ground for a second round [...]