Convenience stores issued £634m warning ahead of Budget October 29, 2024 A lobby group has warned convenience stores could be set for a huge bill next year as tax hikes are expected to be included in the Autumn Budget. The Association of Convenience Stores has said the sector will face a potential bill of £634m due to wage increases, plus changes to National Insurance contributions and [...]
Autumn Budget 2024: Minimum wage set for above inflation hike October 29, 2024 Firms could be set to face higher payroll costs as the minimum wage is reportedly set to increase by more than six per cent at Wednesday’s Budget. Chancellor Rachel Reeves is expected to announce an above inflation raise that is higher than was predicted last month, according to the Times newspaper. It will result in [...]
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 [...]
Budget tax grab will put hospitality jobs at risk, trade groups warn October 28, 2024 UK business leaders have threatened to scale back on jobs growth and investment if business rates relief is not extended in the upcoming Budget.
Rocco Forte: Labour’s ‘ideological approach’ risks hammering private sector investment October 27, 2024 Luxury hotelier Sir Rocco Forte has said Labour’s rumoured tax raid at the Budget this week will discourage investment from the private sector and unnerve businesses looking to come into the country. Speaking on the BBC’s Sunday with Laura Kuenssberg, the English businessman said Rachel Reeves and Keir Starmer are taking an “ideological approach” and [...]
A Budget for stability must mean less is more October 27, 2024 As it prepares for its first Budget, it’s critical the government considers something important but quite dull: practicality If you’d attended the government’s International Investment Summit last week and your bingo card had the words ‘regulation’, ‘stability’ and ‘growth’ on it, you’d have been over the moon. Yes, both the Prime Minister and Chancellor were [...]
Starmer denies misleading the public over tax rises in Labour manifesto October 26, 2024 Sir Keir Starmer has denied misleading the public at the general election over tax plans after he suggested people who make money from shares and property could face greater levies. The Prime Minister rejected claims he was waging a “war on middle Britain” amid pre-Budget speculation he could increase the burden for those who have [...]
Inside UK non-doms’ battle for survival October 26, 2024 Had a passer-by inadvertently walked into Foreign Investors for Britain’s inaugural press conference earlier this month, they would have been forgiven for thinking they’d encountered an incongruous group therapy session. At one stage, an eastern European property tycoon asked the room: “Why am I suddenly being treated like a tax cheater? I’m being painted out [...]
Starmer: People who receive income from shares aren’t working people October 25, 2024 Sir Keir Starmer has said that people who get additional income from shares or other assets do not count as 'working people'.
Budget 2024: Warning pubs and breweries could face extra £310m bill October 25, 2024 Pubs and breweries could face an extra £310m bill after the Budget, an industry lobby group has warned. The British Beer and Pub Association (BBPA) has warned Chancellor Rachel Reeves that a hike in business rates and beer duty could leave Britain’s drinking spots struggling. Additional costs could stifle growth and threaten jobs, with some [...]