Labour leadership turmoil to cost Reeves up to £12bn Economics Labour’s political infighting could cost Chancellor Rachel Reeves up to £12bn, analysis by a Wall Street bank has suggested. Hot-tempered bond markets and stunted growth – a consequence of further political instability – would knock around £12bn off the Chancellor’s fiscal headroom, Goldman Sachs warned. While the £12bn hit to public finances would not erase [...]
UK businesses struggle with triple threat of costs, cyber risks and stagnant growth Prof Services The UK consulting sector is expected to grow by nearly 6 per cent this year, amid businesses facing ‘intensifying pressure’ from cost management, cyber security risks, and budget constraints. The Management Consultancies Association (MCA), which represents the consulting sector, has released a new report stating that heightened costs and strapped budgets are “the single biggest concern” for [...]
A bank tax hangs in the balance at the local election ballot Banking As speculation of a leadership challenge – or sweeping reshuffle – surrounds the forthcoming local elections, in this week’s column Samuel Norman looks at what a change in Chancellor would mean for the banking sector. It is no secret that Thursday’s local elections carry a weight far heavier than the fate of a few neighbourhood [...]
Lloyds fires bank tax warning shot as industry ‘ripe for cash grab’ April 29, 2026 Lloyds Banking Group has warned the Treasury not to look at the banks for a tax raid as the industry sets its sights on booming profits in 2026. The FTSE 100 giant beat profit expectations by a cool £200m in the first-quarter after booking £2bn. This was also followed up by an upgrade to its [...]
UK workers suffer bigger tax hikes than any leading economy after Reeves’ raid April 22, 2026 Taxes on wages in the UK rose at a faster pace than any country tracked by the OECD as Chancellor Rachel Reeves’ measures have squeezed people’s incomes. A new report by the OECD – the Organisation for Economic Co-operation and Development – has found that taxes in the UK for single workers jumped higher than [...]
Shoe Zone shares plummet as retailer kicks out at budget tax raids April 22, 2026 Shoe Zone shares plummeted after the retailer hit out at Rachel Reeves’ budgets for stifling consumer confidence, saying the chancellor’s policy and the Iran war will kick it into a loss this year. The firm’s share price slumped by more than 32 per cent on Wednesday’s market open, leaving the stock down more than 48 [...]
Reeves says diplomacy is ‘best economy policy’ as UK tax burden to mount April 15, 2026 Chancellor Rachel Reeves has said that de-escalating the war in the Middle East is the “best economic policy” to protect growth as the International Monetary Fund showed the UK tax burden was set to deepen at a faster pace than any country. Speaking at a CNBC event in Washington, Reeves doubled down on her attacks [...]
JP Morgan to build Canary Wharf’s tallest tower – if there is a tax incentive April 7, 2026 JP Morgan has been given the green light to build Canary Wharf’s largest tower but questions still remain over controversial tax incentives to lure the Wall Street titan in. The US banking behemoth has been in talks with officials from London City Airport regarding height restrictions for the tower. The bank is understood to have [...]
One in five founders expect to leave UK in next 12 months March 19, 2026 A fifth of British entrepreneurs expect to leave the country in the next 12 months as confidence in the government sinks to a new low. Fresh data from the Entrepreneurs Network has revealed the growing fears of a ‘brain drain’ could be set to escalate with just over one in five founders pencilling in plans [...]
‘More needs to be done’ to help pension savers after salary sacrifice, says Standard life boss March 16, 2026 The boss of one of the UK’s largest pension providers has warned “more needs to be done” to help those saving for retirement after the government introduced a cap on salary sacrifice in the latest Budget. Andy Briggs, the chief executive of Standard Life, told City AM: “Obviously, we weren’t supportive of [salary sacrifice changes] [...]