Banking battle for customers heats up as Nationwide introduces 5 per cent interest rate on current accounts June 23, 2022 The battle for customers is increasingly heating up in the UK banking scene with one major current account provider now offering 5 per cent interest on balances up to £1,500 for the first 12 months . Nationwide Building Society previously offered 2 per cent fixed for 12 months on balances up to £1,500 on its [...]
Brits paid billions more in taxes over the last year as HMRC ramped up tax collection June 23, 2022 The British population paid more in taxes in 2021-2022 as HM Revenue and Customs collected £718.2bn in taxes, a near 23 per cent rise from the year before. Total HMRC tax receipts for April 2022-May 2022 were £121.9bn, according to HMRC data released today. These were £14.8bn higher compared to the same period last year even as the [...]
UAE fund turns on top City lawyer in bid to exit Iranian-American airline tycoon’s hacked emails case June 23, 2022 Embattled City lawyer Neil Gerrard suffered another blow this week, after his former client, an Emirati sovereign fund, turned on the ex-Dechert partner, after offering to pay $1m to settle a case brought against it by a powerful Iranian-American business tycoon. The fund’s efforts to distance itself from Dechert’s former head of white-collar crime comes [...]
Govt’s union bill could break law, legal experts say June 23, 2022 Lawyers have said the government’s plans to overturn laws that prevent agency staff from filling in for striking workers could face legal challenges under both UK and international law. The comments come after the government set out plans to repeal the “burdensome legal restrictions” that block staffing agencies from sending in temporary workers during strikes. [...]
Khan lashes Shapps for refusing to meet over TfL funding as latest deal runs out June 23, 2022 Sadiq Khan has hit out at transport secretary Grant Shapps for refusing to meet with him over Transport for London (TfL) funding, despite the body’s latest deal running out tomorrow. The mayor of London told a group of journalists today that Shapps had not answered formal requests for a meeting that was made two weeks [...]
Positive results for PCR titan Randox as profits soar thanks to public contracts June 23, 2022 Covid testing giant Randox revealed it made pre-tax profits of £275m last year as the firm cashes in on PCRs.
Sunak struggles to appease North Sea oil and gas sector amid windfall tax fury June 23, 2022 Chancellor Rishi Sunak failed to appease the UK's oil and gas industry at a roundtable earlier today, with the sector still furious over the windfall tax.
Europe braces for winter of discontent as Germany moves one step closer to energy rationing June 23, 2022 Fears of supply shortages across Europe have escalated as Germany moved one step closer to energy rationing amid escalating tensions with the Kremlin.
Britons lose £5k a year during lost decade of productivity growth June 23, 2022 Workers have lost an average of £5,000 every year over the last decade due to the UK’s meagre productivity growth, reveals a new report published today. Britain’s productivity growth has lagged the rest of the G7 “throughout much of the post-war period, which seems to indicate a deep structural problem,” according to the National Institute [...]
Criminal attacks, non-payment and evasion result in £32bn gap between tax expected and tax paid June 23, 2022 The difference between the total amount of tax expected and that which is actually paid hit £32 billion in 2020/21 – according to HM Revenue and Customs (HMRC). At 5.1 per cent, there has been no change in the percentage tax gap compared to the previous year, although the monetary value has fallen by £2 [...]