HSBC boss: Rachel Reeves hiking bank tax would dent growth July 30, 2025 The boss of FTSE 100 juggernaut HSBC has become the latest banking voice to warn Rachel Reeves against raising taxes on banks over fears it would harm economic growth. Georges Elhedery, HSBC’s chief executive, said on Wednesday any further financial pressures on lenders could spark trouble for the UK economy. “Additional taxation on banks runs [...]
UK SMEs paralysed by fear despite ‘sitting on piles of cash’ July 17, 2025 Small-to-medium sized companies in the UK (SMEs) are “paralysed by fear” because of geopolitical uncertainty and a lack of clear economic policy, according to new research. Accounting and advisory group Azets said a large number of SMEs are “sitting on significant piles of cash” but are nevertheless holding back on investment. The warning, issued by [...]
Rachel Reeves’ tax hikes are driving wealthy overseas investors to flee London July 14, 2025 Chancellor Rachel Reeves’ tax hikes have had the “feared impact” of driving wealthy overseas investors to flee London to escape double taxation of their worldwide income, the company behind The Shard has said. Real Estate Management (UK), which is ultimately owned by the State of Qatar, has revealed the exodus has resulted in it being [...]
Financial services brace for more job cuts as clouds gather July 7, 2025 Financial services firms are expecting a rapid increase in jobs losses over the coming months as investment plans and optimism levels sink to fresh lows. The sector’s activity fell at the fastest rate since December 2023 in the three months to June, according to the Confederation of British Industry (CBI). This marked the first time [...]
Rachel Reeves’ cash ISA plans would ‘choke mortgages’ July 3, 2025 Rachel Reeves’ plans to slash the tax-free cash ISA allowance “would be effectively choking mortgage availability” for those who need them the most, a building society’s CEO has said. Darlington Building Society was reacting to the news that the Chancellor is set to announce a lowering of the current £20,000 cap that savers are allowed [...]
Labour versus the bond markets, businesses and ballots July 3, 2025 Birthdays aren’t best celebrated on a hangover but Labour’s senior leaders will be waking up with a painful headache this morning after haemorrhaging support from both bond markets and backbenchers. As dozens of Labour MPs discovered the level of influence they held over whips in parliament, unsympathetic bond traders flexed their own powers as medium-term [...]
Rachel Reeves at risk of becoming shortest-serving Labour Chancellor July 2, 2025 Rachel Reeves is at risk of becoming the shortest-serving Labour Chancellor in history after Prime Minister Sir Keir Starmer declined to give her a public show of support. The PM was facing questions at Prime Minister’s Questions today over his handling of a welfare reform package which has been stripped of key elements to limit [...]
Superdrug shrugs off Rachel Reeves’ tax hikes to create over 600 jobs July 2, 2025 Superdrug has created more than 600 jobs despite tax hikes introduced by Chancellor Rachel Reeves putting “pressure” on its margins. The high street chain upped its headcount from 13,845 to 14,479 in 2024, new accounts filed with Companies House have revealed. The increase comes after Superdrug also created more than 400 jobs in 2023. The [...]
Will banks be able to escape a Reeves’ tax raid this Autumn? June 27, 2025 As Rachel Reeves watches her fiscal headroom crumble with every Labour U-turn, the Chancellor may return to her budget mantra that those with the “broadest shoulders should bear the heavier burden”. Lenders managed to skirt a tax raid in the 2024 budget after lobbyists warned it could damage the sector’s international competitiveness, but renewed fiscal [...]
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 [...]