British icon in the red after Rachel Reeves’ tax hikes costs jobs October 10, 2025 John Smedley, the historic family-owned luxury knitwear brand, has been forced to raise prices and make redundancies as it battles Chancellor Rachel Reeves’ tax hikes as it fell into the red. The Derbyshire-headquartered business can trace its roots back to 1784 and is currently run by the eighth generation of the Smedley family. Executive chairman [...]
Autumn Budget: Why are banks in Rachel Reeves’ tax crosshairs? October 7, 2025 The “pass the parcel” of Budget speculation has fallen back into the lap of the banking industry with the nation’s top lenders finding themselves as a potential subject of a November cash grab. Fresh reports have indicated Rachel Reeves is actively considering a raid on Britain’s banking giants – even as she continues to make [...]
Goldman warns Japan fiscal plans could spark UK bond sell-off October 7, 2025 The fiscal plans touted by the woman poised to become Japan’s first female Prime Minister will trigger a sharp jump the country’s borrowing costs that could spill over into the price of UK and US government bonds, Goldman Sachs has said. Sanae Takaichi, an admirer of Margaret Thatcher, was swept to victory in her Liberal [...]
Construction sector hit by waning activity ahead of Budget October 6, 2025 Business activity expectations in the construction industry have fallen to the lowest since the end of 2022 as companies remained glum on future outlook ahead of the Autumn Budget. The latest Purchasing Managers Index (PMI) from S&P Global showed construction output showed the industry hit its highest level for three months at 46.2 – though [...]
Rachel Reeves mulls bank tax amid scramble to fill fiscal hole October 6, 2025 Rachel Reeves is reported to be weighing up a tax on Britain’s banking giants as the Treasury looks to strum up cash in the forthcoming Autumn Budget. The Chancellor is expected to be staring down a fiscal blackhole of over £20bn come November 26 and banks have been viewed as an easy – and politically [...]
‘Subdued’ services sector suffers steep drop as tax hikes bite October 3, 2025 Business activity expansion fell to a five-month low after a “subdued” services sector experienced a dull end to the third quarter. S&P’s UK Services Purchasing Managers Index Business Activity tumbled to 50.8 in September, falling steeply from the 16-month high of 54.2 secured in August. “This summer’s acceleration in output growth is now looking like [...]
We need more retail investors to get Britain growing, Rachel Reeves told September 29, 2025 Chancellor Rachel Reeves has been told to introduce measures in the Autumn Budget which will encourage more people in the UK to become retail investors. Speaking on an up-coming episode of City AM‘s Boardroom Uncovered show, ClearScore CEO Justin Basini said that more people needed to be persuaded to start investing as a key way [...]
UK fintechs send rallying cry as industry slips in global ranking September 25, 2025 UK fintech leaders have sent a rallying call to policymakers after the sector slipped in global rankings. A host of industry bigwigs have told City AM the government must be bolder in growth-orientated reforms to bolster the sector’s standing against rivals. It comes after Z/Yen’s 38th Global Financial Centres Index showed the UK’s fintech sector [...]
Barclays, Citi, JP Morgan bosses sound alarm on bank tax September 25, 2025 Rachel Reeves has been handed a warning by top banking chiefs to prioritise stability for the financial services industry amid speculation of looming tax hikes. The bosses of UK banking giants have cautioned the Chancellor on potential tax rises and stressed the sector must remain competitive. Barclays’ boss CS Venkatakrishnan – known as the Venkat [...]
High net worths rejig estates as inheritance tax overhaul looms September 24, 2025 The high-net-worth clients of a leading wealth manager are rearranging their estate planning to get ahead of potential changes in the Budget, fearing the Chancellor will mount another inheritance tax grab to help plug the Treasury’s £30bn fiscal hole. Rathbones said that interest from its customers in inheritance-related advice has “risen sharply” since the start [...]