UK may need £20bn tax hike to stop spending cuts, think tank says October 12, 2024 Britain’s new Labour government may need to increase taxes by £20bn in its first budget to avoid real-term cuts across public services, the Resolution Foundation said on Saturday. The think tank also said revising budget rules to use an alternative definition of public debt could allow finance minister Rachel Reeves to finance long-term investment while [...]
Budget will boost living standards, revive NHS and ‘rebuild Britain’ – Starmer October 12, 2024 The Budget will focus on boosting living standards, reviving the NHS and “rebuilding Britain”, Keir Starmer said as he signalled investment in schools, housing and transport. Chancellor Rachel Reeves will deliver her first Budget on October 30 following gloomy warnings about the tough decisions and tax rises needed to deal with the economic legacy left [...]
Brewdog founder James Watt on Britain’s ‘existential’ debt crisis October 11, 2024 Founder of beer chain Brewdog has warned Britain’s political system faces an “existential crisis”, and has offered a solution to get on top of it. James Watt took to LinkedIn to vent his frustration at the levels of debt being serviced in the UK economy at the moment, which makes it “impossible for us to [...]
Fears over capital gains tax hike push business owners to sell up October 11, 2024 The survey showed that 23 per cent of business owners who had fast-tracked their exists did so because they were worried about a capital gains hike.
Capital gains tax could be hiked to almost 40 per cent October 10, 2024 Capital gains tax could be hiked by Chancellor Rachel Reeves to almost 40 per cent in the Budget, according to reports. The Guardian has reported that the Treasury is modelling a range of between 33 per cent to 39 per cent. Around 350,000 people pay the wealth tax with is levied on the sale of [...]
Tory leadership: End race early so victor can respond to Budget, says Jenrick October 10, 2024 Robert Jenrick has called for the Tory leadership race to end early so that the winner can be in place to respond to Rachel Reeves’ first Budget. The Chancellor will deliver Labour’s first fiscal statement on 30 October, and the leadership hopeful has argued for a speedier end to the race ahead of the major [...]
Mark Kleinman: Will Reeves step back from a Hallowe’en nightmare? October 10, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the City talking in his weekly City AM column.
Taxes might have to go up by £25bn in Budget, IFS says October 10, 2024 Rachel Reeves may have to raise taxes by £25bn in the Budget if she wants to improve the delivery of public services, the influential Institute for Fiscal Studies (IFS) said today. Although the Chancellor looks set to reform the fiscal rules to enable more borrowing for investment, Reeves has committed to meet day-to-day spending out [...]
Top UK bankers warn prospect of windfall tax is spooking investors October 9, 2024 Top bankers have warned that tough regulation and high taxes are denting investment in Britain’s financial services sector ahead of Labour's much-anticipated Budget on 30 October.
This is how much sixty of the UK’s wealthiest people paid in income tax October 9, 2024 The figures, which were revealed thanks to a freedom of information request, demonstrate the large contribution made by the UK's richest individuals.