Spending Review: Whitehall faces axe to fund Reeves’ spending spree June 11, 2025 Dramatic real terms cuts to departments such as the Home Office and the Department for Transport are to fund Chancellor Rachel Reeves’ multi-billion pound spending packages on the NHS and AI technology. Reeves told MPs on Wednesday afternoon that the government would spend taxpayers’ money with “care” as she said the government had been “relentless” [...]
Spending Review: Reeves promises UK will become defence ‘superpower’ June 11, 2025 Chancellor Rachel Reeves has pledged the UK will become a “defence industrial superpower” as she confirmed military spending would rise to 2.6 per cent of GDP (gross domestic product) by April 2027. Unveiling the government’s much-anticipated Spending Review, Reeves told the House of Commons: “A new era in the threats we face demands a new [...]
A Wise storm has rocked the London Stock Exchange’s fintech dream June 6, 2025 Hopes of a fintech-powered City markets revival may have been crushed on Thursday after money transfer firm Wise ditched its primary listing. The embattled London Stock Exchange was dealt its latest blow as the UK fintech opted for a dual listing across the Atlantic but with the US acting as its primary base. It’s no [...]
Starmer’s defence spending will mean ‘chunky’ tax rises, warns IFS June 2, 2025 Sir Keir Starmer’s plans to boost defence spending will require “chunky” tax rises, according to the chief of the Institute for Fiscal Studies (IFS). Paul Johnson told Times Radio: “…if we’re really going to spend another £10-15 billion a year on defence, whilst inevitably we’re going to spend more and more on health and pensions [...]
Reeves’ tax raids and tariff woes strain UK manufacturers June 2, 2025 British manufacturers continued to struggle in May, despite a surprise minor uptick, as tax hikes and tariffs weighed on firms. S&P Global’s latest PMI survey, which asks around 600 industrial companies about their performance, revealed manufacturers were still battling a tirade of challenges. The latest figure edged up to 46.4 in May, compared to 45.4 [...]
What is ‘clearly missing’ from Rachel Reeves’ pension review May 29, 2025 A senior figure at investment bank Peel Hunt has set out what is “clearly missing” from Chancellor Rachel Reeves’ plans for reforming the UK pension industry. The government has provided more details on its proposals which include the creation of £25bn ‘megafunds’ to encourage fresh investment into UK infrastructure and businesses. The Treasury has also [...]
Pret A Manger: Why prices rises are ‘inevitable’ after surviving ‘near-death crisis’ May 19, 2025 The boss of Pret A Manger in the UK has revealed the tough economic reality the country is currently facing means it is “inevitable” that some prices will have to be increased. Clare Clough admitted recent years have been “challenging” for the high street staple but that the brand’s number one priority is to find [...]
Reform UK’s fiscal plans could spark ‘Sterling crisis’, economist warns May 16, 2025 Reform UK deputy leader Richard Tice has hinted at ambitions to become chancellor if his party wins the next general election. What does this mean for the UK’s finances? Simon French, an economist at Panmure Liberum who has advised the government, estimates that Reform UK’s plans would leave the UK with an “immediate” fiscal gap [...]
Lloyds’ finance boss slams ring-fencing amid waning growth forecast May 1, 2025 Lloyds‘ finance boss raised the alarm on lenders’ ability to help drive growth due to restrictions from the ring-fencing regime. The bank trimmed its UK GDP expectations and has projected a rise in unemployment in the latest warning sign for the health of the British economy. The FTSE 100 giant pencilled in 0.2 per cent [...]
High-tax Britain is losing the race for global talent April 29, 2025 High taxes, fiscal drag and the cost of living mean London is no longer the destination of choice for skilled employees – and competitors like the Basque Country are feeling the benefits, says Ivan Jimenez I’m a proud native of the Basque Country in northern Spain, but having spent a lot of time in the [...]