Investor confidence dropped on capital gains tax and pension Budget fears October 16, 2024 The Hargreaves Lansdown investor confidence index dropped more than 11 per cent over the last month as fears of the Budget spread throughout UK investors. Confidence among investors has been on a downward trend for some time, with a similar sized fall happening the month before. “The looming budget in the UK, due to be [...]
Support for innovation is needed in Budget warns pharmaceutical industry October 15, 2024 The Association of the British Pharmaceutical Industry (ABPI) has called on Rachel Reeves to prioritise research and development (R&D) investment in the coming Labour Budget to unlock the potential of the UK life sciences sector. The APBI’s pre-Budget submission stressed the importance of maintaining and increasing public R&D funding to increase the UK’s attractiveness as [...]
Employer National Insurance hike could risk jobs amid 95,0000 vacancies October 15, 2024 Increasing employers’ national insurance contributions (NICs) could pose a risk to jobs amid some 95,000 vacancies across pubs and restaurants, a hospitality lobby group has warned. Data released from the Office for National Statistics (ONS) today revealed there are a “stubbornly high” 95,000 openings across the sector, including in venues, cafes and eateries. Hospitality UK [...]
Robert Walters blames Budget uncertainty for slump in UK fees October 15, 2024 Recruiter Robert Walters has posted a slump in net fee income as economic and political uncertainty dragged on hiring in the UK and Europe.
Public backs online gambling tax raid as rumours of duty hike swirl October 15, 2024 Hiking taxes on online casino gambling would raise the government as much as £900m and has the support of over half of UK voters, according to a report from an influential think tank. The study by centrist think tank the Social Market Foundation (SMF), proposed a doubling of the rate of tax on online gambling, [...]
Is reckless Reeves about to open the door to the next financial crisis? October 15, 2024 Rachel Reeves’ plan to change the fiscal rules to redefine debt reveal a Chancellor dangerously out of her depth, says Andrew Griffith A flurry of briefings suggest that the Chancellor is rolling the pitch to change the fiscal rules or the definitions of debt within them. These are the same thing: the ‘golden rule’ of [...]
Raising capital gains tax would be a hammer blow for entrepreneurs October 15, 2024 If the Chancellor raises capital gains tax at the Budget, entrepreneurs will either decline to sell or move to a friendlier jurisdiction – either way Britain will lose out, says Andreas Adamides Many people debate whether John Lennon or Paul McCartney was the better songwriter. But for me, it’s George Harrison I’m thinking of right [...]
Ministers refuse to rule out hike to employer national insurance rate October 14, 2024 The Chancellor and business secretary have again refused to rule out a hike employers’ National Insurance (NI) contributions in the upcoming Budget when speaking on the sidelines of the government’s investment summit today. Speaking exclusively to City AM on the question of whether Labour would increase employers’ NI, Jonathan Reynolds stressed: “I think the manifesto [...]
Reeves hails £63bn boost for Britain at flagship investment summit October 14, 2024 Reeves welcomed the investment news, insisting her “ambition for Britain burns brighter than ever”, while the government said the deals will see some 38,000 new jobs created in the UK.
Tories hit out at government over £3bn gambling tax raid plan October 14, 2024 The Conservatives have launched a barrage of criticism at the government on mooted plans for a tax raid worth up to £3bn on the gambling industry, with the shadow sports minister demanding the government “take the blinkers off”. Shares in British gambling firms plummeted on Monday morning amid reports of the tax raid, which would [...]