Labour must get Trump relationship right to avoid tariff chaos, Stride warns November 7, 2024 Shadow Chancellor Mel Stride has said that it is essential for the Labour government to develop a good relationship with Donald Trump in a bid to avoid the damaging impact of any potential trade tariffs. The incoming US president has said he may put tariffs of 10 to 20 per cent on countries such as [...]
UK farms could shrink ‘like Russian dolls’ amid tax row, government warned November 7, 2024 The UK’s farms could be set to shrink “like Russian dolls”, the government has been warned, thanks to Labour’s inheritance tax changes announced in the Budget. Shadow business secretary – and former City minister – Andrew Griffith has cautioned that the policy could mean “like Russian dolls, with each generation that passes, you end up [...]
Ministerial freebies rules tightened – but Starmer stops short of banning gifts November 6, 2024 Keir Starmer has tightened up the rules on ministers accepting freebies, according to new guidelines, but stopped short of banning gifts and hospitality. An update to the government’s ministerial code published today included new advice for ministers who accept freebies and hospitality, which took a tougher stance than the previous document. The new code states: [...]
Bank of England and Fed to cut interest rates despite fiscal fears November 6, 2024 The Bank held rates at its last meeting in September, but signalled that further cuts were on the way if there continued to be progress on inflation.
Analysis: What does Trump’s victory mean for the UK? November 6, 2024 Donald Trump’s political resurgence poses important questions for the UK and the wider world. After securing the requisite 270 electoral college votes, Trump is on course to return to the White House as the 47th President of the United States, in January. And from his dealings with global leaders, the UK-US special relationship, to military [...]
Wetherspoons boss Tim Martin fires fresh price rise warning following Budget November 6, 2024 The pub giant reported record sales in the most recent quarterm even as cost inflation and tax hikes continue to bite British boozers.
Stamp duty hike: a ‘bitter but manageable pill to swallow’ for UK landlords November 5, 2024 Last week’s Budget announcement raised Stamp Duty Land Tax (SDLT) to five per cent tax, yet household landlords seem unfazed. London-based estate agent Benham and Reeves carried a survey to find out how UK landlords reacted to this hike. Concerns about potential hikes in capital gains tax (CGT) on property investments weighed heavily on landlords [...]
Kemi Badenoch appoints top team with Andrew Griffith to shadow business November 5, 2024 Tory leader Kemi Badenoch has appointed her full top team, with former City minister Andrew Griffith taking on the role of shadow business and trade secretary. The Conservative leader appointed her former rival candidates Mel Stride and Dame Priti Patel as her shadow Chancellor and shadow foreign secretary last night, as well as making Laura [...]
Retail sales growth slumps in October as consumers remain cautious November 5, 2024 Retail sales growth dipped in October due to pre-election anxiety, the latest figures have shown. According to the British Retail Consortium (BRC)-KPMG sales monitor, retail sales in the UK increased by 0.6 per cent year over year in October, compared to 2.6 per cent growth in October 2023. Food sales nudged up 2.9 per cent [...]
UK resumes tech-focused trade talks with South Korea November 5, 2024 The UK is resuming trade talks with South Korea with discussions focused on boosting tech and digital services. British negotiators have flown to Seoul to meet South Korean counterparts today as talks restart in a bid to secure a modern, digital-focused trade agreement. It is the first time the discussions have recommenced under the Labour [...]