Labour’s welfare U-turn spikes fears of tax hikes June 27, 2025 The Labour government has confirmed its latest U-turn with a significant retreat on welfare reform dealing a crushing blow to Rachel Reeves’ waning fiscal headroom. The bill initially targeted restrictions on personal independence payments (PIP) and limited the sickness-related element of universal credit in a bid to shed £5bn from the welfare budget by 2030. Under [...]
Reeves urged to unfreeze income tax or risk entrenched damage June 26, 2025 Rachel Reeves has been given another stark warning of the implications of extending the freeze on income tax thresholds. The Chancellor has vowed to not repeat the scale of tax rises in last year’s autumn Budget, but has not addressed whether she will stand by her promise to unfreeze income tax thresholds from 2028. Reeves [...]
Government accused of ignoring SMEs as firms fight for survival June 26, 2025 Three in five small business owners feel ignored by the government, according to a fresh survey, an increasing amount firms raise the alarm on their fight to stay afloat. Small and medium-sized enterprises (SMEs) are calling on Westminster to take further measures to support businesses after 57 per cent fear for their survival in the [...]
City sends an SOS to fix London markets ‘before it’s too late’ June 26, 2025 Fears over the health of the City’s stock market have been laid bare after trading platform IG became the latest firm to sound the alarm over the “crisis unfolding” on the London bourse. The FTSE 250 firm has launched a “Save our Stock market” initiative – aptly dubbed the SOS campaign – which serves as [...]
Top private school faces job cuts after Reeves’ tax grab June 21, 2025 A prestigious private school has said it may be forced to make job cuts due to the Labour government’s removal of VAT exemption on school fees. Edinburgh-based Fettes College – where former Prime Minister Tony Blair is among alumni – has said the introduction of VAT on school fees contributed to the “difficult” decision to [...]
AIM boss: Inheritance tax sums don’t add up June 19, 2025 As AIM celebrates its 30th anniversary the market’s boss is eying a crucial birthday present from the Treasury: tax clarity. AIM shareholders were thrust into the tax spotlight last month after a leaked memo revealed Angela Rayner proposed Chancellor Rachel Reeves slap a series of taxes savers. Scrapping the inheritance tax exemption for AIM shares [...]
Labour’s National Wealth Fund a misnomer, MPs told June 18, 2025 Labour’s National Wealth Fund faced renewed calls for clarity on Wednesday as the Treasury Committee continued its inquiry into the government’s new body. The government’s rebrand of the National Wealth Fund (NWF) from the UK Infrastructure Bank (UKIB) in October 2024 has raised questions amid confusion of the two bodies’ remits. Academics and think tank [...]
Thwaites ‘extremely nervous’ Rachel Reeves will raise taxes in Autumn Budget June 17, 2025 Beer brewer Thwaites is “extremely nervous” about the possibility of Chancellor Rachel Reeves raising taxes further in her Autumn Budget. The Lancashire-headquartered group, which also owns pubs and hotels, added its industry is “under tremendous pressure” from Reeves’ first Autumn Budget due to the increases in the National Minimum Wage and the employer’s National Insurance [...]
UK Science Minister calls for stronger US-UK health tech alliance June 17, 2025 UK science minister Lord Patrick Vallance has urged the US and UK to deepen ties across the health tech and life sciences sectors, calling the move a “unique opportunity” to unlock economic growth and medical innovation on both sides of the Atlantic. Speaking at the BIO 2025 global biotech conference in Boston, Vallance told delegates [...]
Reeves’ tax hikes lead to spike in pubs going bust June 16, 2025 The series of tax hikes introduced by Chancellor Rachel Reeves in her Autumn Budget last year has contributed to a spike in pubs going bust across the UK in April, according to new figures. A total of 67 pubs closed down during the month – the highest number since July 2024 when 75 entered insolvency [...]