Peers warn ‘passive’ Treasury not aware of private credit risks Regulation The Treasury is being too passive about the risks posed to the economy by the rapid growth of private credit in the UK, according to an influential group of peers who accused ministers of “handing out the donkey work” of overseeing the sector to regulators. In fresh report examining the systemic risk posed by private [...]
Treasury mocked for £100k financial services ‘leadership’ role Politics The Treasury is searching for a Director for Financial Services to take on an “exciting and challenging leadership role” within the heart of the British economy, for a £100k salary. According to the job posting, the successful candidate would be tasked with “advising the Chancellor and Economic Secretary on financial services policy, taking account of [...]
Leak and Let Die: OBR calls in former spook to investigate early Budget release Politics The embattled Office for Budget Responsibility (OBR) has brought in a former top spook to investigate how its entire forecast was published early before Rachel Reeves stood up to deliver the Budget. Alongside the watchdog’s oversight board, Ciaran Martin, former chief of the National Cyber Security Centre – part of the security services – will [...]
What does the Budget mean for you? November 26, 2025 Rachel Reeves’ second Budget has been the most closely watched in recent memory, with media briefings and soundings on all sides. Rachel Reeves has raised taxes by £26bn in her second Budget, which follows on from last year’s £40bn. They will go up to well over 38 per cent of GDP by 2030, the OBR [...]
Here’s what to expect on Budget day November 24, 2025 An unusually late and extraordinarily widely briefed Budget has attracted more nerves and anticipation than any in recent memory. So when Rachel Reeves takes to the dispatch box just after midday on Wednesday, she is set to do so with the knowledge that her fate – and the Prime Minister’s – rest on placating at [...]
Andy Haldane: Budget speculation is hitting growth November 17, 2025 Former Bank of England chief economist Andy Haldane has said there is “without a shadow of a doubt” a direct link between feverish Budget speculation and sluggish growth in the UK economy. In an interview on Sky News on Monday morning, the incoming president of the British Chamber of Commerce (BCC) told Sophy Ridge that [...]
Motor finance: Where do the banks, regulator and Treasury stand? October 24, 2025 The UK banking sector had hoped the Supreme Court’s motor finance ruling would finally switch off the hazard lights and allow lenders to return to business as usual. The industry was handed a lukewarm win by the highest court in the land, who ruled in favour of the banks on two out of three cases. [...]
Reeves seeks to boost UK share ownership in ISA overhaul October 18, 2025 Chancellor Rachel Reeves is looking to boost UK share ownership as part of her plans to overhaul ISAs, with potential measures including a minimum holding of British companies and a stamp duty tax break. The move is an evolution of the previously scrapped Conservative plan to create a ‘Brit ISA’ and comes as Reeves searches [...]
Industry figures urge Reeves to go further with cash ISA reforms October 15, 2025 Financial industry figures have urged Rachel Reeves to go further on reforming the cash ISA, following speculation the Chancellor is looking to overhaul the system in the looming Autumn Budget. Reeves is understood to be reviving a plan to cut the tax-free limit on cash ISAs, in a bid to get people to move cash [...]
Treasury invests £63m in cloud services amid public sector overhaul October 1, 2025 HM Treasury has spent more than £63.6m on cloud services over the past three years, showing a decisive shift toward fully cloud-based IT infrastructure. The department has eliminated on-premise systems entirely, reflecting a broader digital transformation agenda across public spending and tax policy. According to the State of Digital Government Review, around 60 per cent [...]