Founders should not be ‘put off’ by inheritance tax, says Treasury minister Politics A senior Treasury minister, while praising the state of the UK economy, has said entrepreneurs should not be “put off” by inheritance tax. Emma Reynolds, the chief secretary to the Treasury, on Thursday, at a visit to Numatic International, the makers of the Henry vacuum cleaner, said entrepreneurs should not be “put off” by the [...]
What does new City minister Rachel Blake have in store for the Square Mile? Politics The Westminster drama has hit the City in more ways than one. After Wes Streeting’s resignation triggered a mini-reshuffle, Felix Armstrong and Samuel Norman take a look at what the new City minister might have in store. In just under two years, the City has its fourth minister. Tulip Siddiq resigned in January 2025 after [...]
Rachel Reeves plots ‘growth push’ as Labour set for bruising elections Economics Rachel Reeves is plotting another “growth push” as the Labour party prepares itself for a potentially bruising defeat in the local elections. The Chancellor is set to unveil a new push for fiscal discipline, a closer relationship with the EU and planning reforms in a bid to ease the nerves of the party. The forthcoming [...]
Exclusive: Treasury and regulator to hold crunch talks with UK fintech unicorns April 16, 2026 Top fintech bosses will lock horns with Treasury and watchdog officials next week as the industry lobbies for key regulatory reforms, City AM can reveal. Several of the nation’s fastest-growing companies are set to meet City Minister Lucy Rigby on Tuesday as part of a flurry of key summits in UK fintech week. The City [...]
Treasury reforms to banks ombudsman threaten independence, MPs warn March 18, 2026 The Treasury’s reforms to the banks ombudsman threaten to upend the body’s independence, a group of influential MPs have warned. The government revealed its overhaul proposals for the financial ombudsman service (FOS) on Tuesday in a bid to curb concerns it had behaved as a “quasi-regulator”. But a fresh letter to City minister Lucy Rigby [...]
Lib Dems would scrap Treasury for ‘Department for Growth’ February 11, 2026 The Liberal Democrats have laid out plans to scrap the Treasury department if elected in favour of a ‘Department for Growth’. Daisy Cooper, the party’s deputy leader and Treasury spokeswoman, said on Wednesday took aim at failed government economic policy and said the Treasury “does too much”. “Fiscal policy, economic policy and controlling government spending. [...]
Hundreds of Treasury jobs at risk in civil servant cost-cutting shakeup February 2, 2026 Rachel Reeves wants to slash about 300 of her department’s roughly 2,100 staff by 2030, as HM Treasury plans to offer officials up to £100,000 to take voluntary leave.The proposed cuts to the Treasury are part of a wider drive to reduce Whitehall’s administrative costs by 16 per cent, according to the Financial Times. The [...]
Peers warn ‘passive’ Treasury not aware of private credit risks January 9, 2026 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 December 17, 2025 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 November 27, 2025 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 [...]