UK faces ‘make or break moment’ in Budget as Swinney calls for spending October 20, 2024 Scotland’s First Minister will use a speech on Monday to urge the Chancellor to increase spending, as he said the Budget presents a “make or break moment” for the UK. Rachel Reeves will present the new Labour Government’s tax and spending plans on October 30, as she seeks to close a £40bn gap in the [...]
Reeves to hike tax on UK founders looking to sell October 19, 2024 Chancellor Rachel Reeves is reportedly plotting to hike taxes for entrepreneurs selling their businesses as part of her strategy to plug a £40bn fiscal “black hole”. In her upcoming Budget, Reeves is considering cutting a policy known as the business asset disposal relief, according to Bloomberg. The tax relief currently allows entrepreneurs to pay a [...]
UK needs ‘more diplomacy’ with China, says Lammy October 19, 2024 The UK approach to China needs “more diplomacy, not less”, the Foreign Secretary has said on his first official visit to the country. David Lammy said the Government would bring “consistency” to relations with China, adding there had not been “sufficient contact” between London and Beijing under his predecessors, particularly on human rights issues. His [...]
St James’s Place: Analysts back UK’s largest wealth manager October 18, 2024 By the end of the quarter, funds under management had swelled to £184.4bn, up from £181.9bn the quarter before and also ahead of consensus.
Retail sales rise unexpectedly despite Budget tax fears October 18, 2024 Retail sales came in ahead of expectations.
Landlords urge Reeves to offer Budget tax breaks amid ‘market uncertainty’ October 17, 2024 Private landlords groups have written to Rachel Reeves to urge the government to offer tax breaks amid “market uncertainty” ahead of the Budget. In a letter to the Chancellor prior to the 30 October fiscal statement, representative bodies including the National Residential Landlords Association (NRLA) said their members face “uncertainty on a number of fronts” [...]
Ministers to speed up energy ‘skills passport’ amid worker shortages October 17, 2024 The energy secretary will speed up oil and gas workers being able to transition to jobs in the renewable energy industry via a “skills passport” as workforce shortages are “hindering” the sector. Energy security and net zero secretary Ed Miliband confirmed his department will “provide project management advice” to Offshore Energies UK (OEUK) and Renewable [...]
Let’s be honest… feel-good campaigns are ruining Britain October 17, 2024 Every government promises to cut red tape but ends up adding more. The only way to break the cycle is to stop listening to nice sounding arguments, says Matthew Lesh Google’s CEO Eric Schmidt did not mince words at this week’s International Investment Summit. “Maybe you need a minister of anti-regulation?” Schmidt said to Prime [...]
Tory leadership: I’ll return us to ‘party of sound money’, Robert Jenrick pledges October 16, 2024 Tory leadership contender Robert Jenrick has pledged to return the Conservatives to “being the party of sound money”, if elected. The former migration minister outlined his economic plans in a speech this morning in which he admitted the Conservatives “abandoned fiscal responsibility in the mini-Budget.” Jenrick told an audience of journalists and MPs at a [...]
Employer National Insurance hike could risk jobs amid 95,0000 vacancies October 15, 2024 Increasing employers’ national insurance contributions (NICs) could pose a risk to jobs amid some 95,000 vacancies across pubs and restaurants, a hospitality lobby group has warned. Data released from the Office for National Statistics (ONS) today revealed there are a “stubbornly high” 95,000 openings across the sector, including in venues, cafes and eateries. Hospitality UK [...]