UK won’t be ‘pressured’ to scrap digital services tax, says Reeves March 27, 2025 Chancellor Rachel Reeves has insisted that Britain “won’t be pressured” into scrapping its digital services tax (DST), despite mounting pressure from the US. Despite her strong stance, Reeves did not make any formal announcements about the future of the DST in her Spring Statement. Yet, hot on the heels of her speech, she told The [...]
Analysis: Why Reeves faces political pressure over the Spring Statement March 25, 2025 Over the next 24 hours, Rachel Reeves will be putting the finishing touches to Wednesday’s Spring Statement. It marks her second fiscal event as Chancellor, and – despite the promised manifesto commitment of “one major fiscal event a year” – the economic backdrop, and wider political pressure, makes it hard to see the contents of [...]
Spring Statement won’t ‘alter basics’, Starmer insists, amid tax cuts reports March 24, 2025 The Spring Statement this week will not “alter the basics” of public spending plans, Sir Keir Starmer has insisted.
Treasury on the hunt for new National Wealth Fund boss March 19, 2025 The Treasury announced on Wednesday that it had begun searching for a new chief executive to lead the recently established National Wealth Fund. The policy bank’s current boss John Flint will exit the role this summer after overseeing the institution’s rebrand from the UK Infrastructure Bank (UKIB). Flint, who is a former HSBC group chief [...]
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 [...]
UK growth outlook slashed amid tax and trade ‘double whammy’ March 5, 2025 The Chancellor’s growth agenda was dealt a fresh blow on Thursday after the British Chambers of Commerce slashed its forecast for the UK economy due to the tax and trade “double whammy” afflicting UK businesses. The business group now expects the UK economy to grow by just 0.9 per cent in 2025, a hefty downgrade [...]
Rachel Reeves must act now to save pubs, City broker warns February 20, 2025 Peel Hunt has become the latest broker to issue a warning that British pub culture is at risk due to structural pressures and tax hikes. Hospitality was the biggest driver of economic growth in both November and December, according to the latest government figures. But tax rises in the October budget “halted and reversed a [...]
‘Rachel Reeves, you must do better’: Chancellor urged to act before hospitality’s collapse February 4, 2025 Chancellor Rachel Reeves has been told to take urgent action to prevent the collapse of thousands of hospitality businesses across the UK. In an open letter Sacha Lord, who was until recently Andy Burnham’s night time economy adviser for Greater Manchester, said he no longer considers Labour to be the party of “business and growth”. [...]
FCA looks to ease consumer duty burden as Reeves pushes regulators for growth January 17, 2025 The Financial Conduct Authority (FCA) will look to ease the burden of complying with its stringent consumer duty rules as part of a push to cut red tape in the City and unlock growth. In a letter to the Chancellor Rachel Reeves this week, FCA boss Nikhil Rathi said the regulator would drop a requirement [...]
‘Budget hasn’t worked’: Reeves defends China trip as Stride says Brits ‘deserve better’ January 14, 2025 Rachel Reeves has defended her trip to China amid economic turmoil in the UK as MPs argued her Budget “hasn’t worked” and insisted: “The British people deserve better.” The Chancellor appeared in the House of Commons for the first time since last week’s bond market shock threw her public spending plans and fiscal rules into [...]