Rachel Reeves’ tax hikes will cost me £1m – Hooch tycoon March 31, 2025 The founder of the alcoholic drinks empire behind the likes of Hooch and VK has warned the tax hikes announced by Rachel Reeves will cost him an extra £1m. Steve Perez, the boss of Derbyshire-headquartered Global Brands, added that the Chancellor has “stacked the odds” against businesses like his and that he has “no choice” [...]
Employers still nervous as £20bn tax rise ‘hangs over like a fog’, survey says March 28, 2025 Employers remain pessimistic about hiring new staff as businesses “hoped for more” from the Spring Statement, according to the Recruitment and Employment Confederation (REC). Chancellor Rachel Reeves‘ Spring Statement saw multi-billion pound spending commitments on defence and construction as she vowed to “kickstart economic growth”. But a new survey of more than 700 UK employers [...]
Some UK visa and passport fees set to double from April March 26, 2025 The above-inflation increases in visa and passport fees announced in the Spring Budget have been described as “deeply disappointing.” Visitors to the UK will face a seven per cent increase for immigration and passport fees, the government has revealed. Companies also face a more than doubling in the cost of bringing in skilled overseas workers, [...]
Spring Statement 2025: Markets and bonds tread water ahead of ‘testing day’ March 26, 2025 Markets and bonds were relatively flat on Wednesday morning as analysts predicted Rachel Reeves’ Spring Statement would mark a “testing day”. The FTSE 100 had minor gains following market open, with Marks and Spencer leading the index’s biggest risers. The mid-cap FTSE 250 had a slight uptick, led by a surge in retailer Ocado after [...]
Government approves Lower Thames Crossing March 25, 2025 Ministers have given the go-ahead to the £10bn Lower Thames Crossing road tunnel, one of the most expensive infrastructure projects in UK history. Transport Secretary Heidi Alexander approved the development consent order (DCO) for the scheme on Tuesday. It will be funded primarily by the private sector, according to the Financial Times, confirming speculation after [...]
Bank of England holds interest rates amid low growth and trade tensions March 20, 2025 The Bank of England has held interest rates at 4.5 per cent as worries over a global trade war flare up. Rate-setter Swati Dhingra, an external member on the Monetary Policy Committee (MPC), was the lone wolf who voted for a 25 basis point cut. The decision saw Catherine Mann split from Dhingra after the [...]
Reeves needs to make ‘long overdue’ changes to spending, CBI says March 19, 2025 Chancellor Rachel Reeves has been urged to make “long overdue” changes to government spending as the Confederation of British Industry (CBI) demanded greater investment in innovation. The Chancellor has previously said she is willing to “fight” for growth but leading economists have raised the alarm about an incoming recession. The CBI suggested that an economic [...]
UK markets being ‘gradually undermined’ by tax regime – Interactive Investor boss March 10, 2025 The current tax regime is making UK markets “just about tradable” and are leading to their “gradual undermining”, according to the chief executive of Interactive Investor*. Speaking in the latest episode of City AM‘s Boardroom Uncovered podcast, Richard Wilson said his company has seen an increase in more investors trading in foreign markets instead of [...]
Spring Statement 2025: Rachel Reeves should be courageous and favour economics over ideology, says Interactive Investor boss March 3, 2025 Chancellor Rachel Reeves needs to be “quite courageous” and not “allow ideology to get in the way of economics” when she delivers her Spring Statement on 26 March, the chief executive of Interactive Investor has said. Richard Wilson, speaking on an up-coming episode of City AM‘s Boardroom Uncovered podcast, added that the government’s growth agenda [...]
Rich people’s problems: Confidence in economy hits record low among wealthy Brits February 13, 2025 Confidence in the economy among high net worth Brits has tanked since the election of a Labour government last summer, according to data from the Saltus Wealth Index. The study, which questioned 2,000 people in the UK with assets of £250,000 or more, revealed just under half – 48 per cent – of these so-called [...]