Barclays and Lloyds join banking sector plan for digital ID June 25, 2026 Barclays and Lloyds are among a group of top UK lenders working on a plan that would see customers able to use digital identification tools in their banking app. The collective of banks – which also includes HSBC, Nationwide, Natwest and Santander – are working with industry body UK Finance on a process where users’ [...]
‘I have more to do’: Reeves campaigns for Chancellor role under Burnham June 25, 2026 Rachel Reeves said she has “more to do” as Chancellor as she pitched staying in her job to business leaders despite speculation she will be dumped from the role by Andy Burnham. Reeves said she had brought “stability” to the UK economy and added she was “proud” of her record on inflation and growth. The [...]
Revealed: Secret Treasury plan to tax State Pension before it is paid out June 25, 2026 The Treasury is drawing up plans to automatically withhold income tax from the State Pension before it is paid out to recipients, City AM can reveal, in a move which flies in the face of previous assurances by Chancellor Rachel Reeves that she would not “go after” elderly Brits with fresh tax demands. The proposal, [...]
Zack Polanski: I have a ‘serious vision’ for UK businesses June 25, 2026 Green Party leader Zack Polanski will tell business leaders at a conference on Thursday that he will deliver “clarity, stability and serious vision” for the UK economy. In what will be his most significant address to bosses since becoming leader, Polanski is expected to recognise that private sector executives “might have some preconceptions” yet he’ll [...]
Burnham refuses to rule out ‘exit tax’ as founders warn of wealth exodus June 25, 2026 Entrepreneurs are calling for Andy Burnham to rule out an exit tax or risk another wave of Britain’s wealth creators quitting the UK. Speculation around a so-called ‘settling up’ charge, which would be levied on business owners if they leave the country, is already causing some founders to consider moving overseas, several executives told City [...]
Starmer defends ‘treacherous’ Reeves and Miliband despite Badenoch jibes June 24, 2026 Sir Keir Starmer jumped to the defence of senior Cabinet ministers Ed Miliband and Rachel Reeves despite brutal attacks by the Tory leader Kemi Badenoch. In one of his last Prime Minister’s Questions, Starmer defiantly stood by the Chancellor, who sat on the front bench alongside him, and praised her for “breaking from austerity” and [...]
Burnham coronation closer yet Starmer ally raises alarm on borrowing June 24, 2026 Andy Burnham’s path to Downing Street has been all but cleared after Darren Jones ruled out entering a leadership race, spilling over to further speculation over the look of the next government’s Cabinet. Jones, a close ally of Sir Keir Starmer, was rumoured as a potential challenger to Burnham but the chief secretary to the [...]
Markets would take Miliband chancellor appointment ‘worse’ than Streeting, predicts Cavendish chief June 24, 2026 The boss of a London-listed investment bank has warned that markets would react “worse” to Ed Miliband as Chancellor than Wes Streeting, as speculation grows over who will take over the Treasury Starmer’s resignation and Andy Burnham’s widely expected coronation have caused investors to swing their gaze to his future neighbour in No 11. Burnham, [...]
What if Andy Burnham had become Labour leader in 2015? June 24, 2026 On his third try, Andy Burnham looks all but certain to become Labour leader. But what if he had taken the reins of the party eleven years earlier? Matt Kenyon imagines an alternative timeline… 2015 It’s a world that looks a lot like our own. There’s just one, seemingly minor, difference: A cluster of well-meaning [...]
Former Bank of England rate-setter to become next OBR chair June 23, 2026 A former rate-setter at the Bank of England and member of City AM’s Shadow Monetary Policy Committee is set to become the chair of the Office for Budget Responsibility, the fiscal watchdog which has come under pressure from MPs and inadvertently leaked last year’s Budget. Jonathan Haskel, professor of economics at Imperial College London, will [...]