How can wealthy Scots save £46,000 on income tax? Commute from England Tax Higher earners in Scotland could save more than £46,000 in income tax over five years by moving south of the border and commuting to work, according to a new analysis by Rathbones. The wealth management firm found that a resident earning £250,000 could pay £8,900 less income tax in the first year alone by relocating [...]
Students urged to rethink idea of a ‘safe job’ as Labour pledges major education reform Politics A Cabinet minister has warned young people against depending on “safe and secure jobs” as Andy Burnham announced that children as young as 14 will get access to technical education. Pat McFadden, the work and pensions secretary, has said that changes to the education system were “more urgent” given disruption to the jobs market from [...]
Number of British millionaires sinks to lowest level since financial crisis Wealth The number of millionaires in Britain has sunk to its lowest level since the 2008 financial crisis as rich residents flee the country due to punishingly high levels of tax and the removal of non-dom status, a fresh study has claimed. Some 442,000 millionaires were listed as residents in Britain in 2025, a seven per [...]
‘Moron premium’ – Westminster turmoil has ‘cost taxpayers £35bn’ since 2022 July 28, 2026 Secretive plotters and vengeful strategists in Westminster have cost taxpayers around £35bn since 2020, new research by one of the world’s top insurance companies has found. In a study into the costs of political fragility facing European governments, researchers at Allianz Trade found that the UK government continued to pay a “distinct political premium” due [...]
Burnham and Healey face investor fury over summer of tax speculation July 27, 2026 Andy Burnham and John Healey are contending with a growing backlash from investors after another summer of tax speculation looks set to leave financial managers on edge. The chief executive of one of the UK’s biggest investment platforms, AJ Bell, urged Chancellor Healey to take a more emphatic approach on ruling out tax hikes across [...]
Exclusive: Jobs lost across Labour’s ‘growth potential’ sectors in blow to Burnham July 27, 2026 In a blow to the government’s plans to boost employment, eight sectors previously identified as having high growth potential in Labour’s industrial strategy have suffered job losses, according to a report seen by City AM. The so-called ‘IS-8’ sectors, which include life sciences, financial services and defence, were singled out by the UK government last [...]
Burnham backs plan to pump £1bn pension funds into start-ups July 27, 2026 Andy Burnham’s government is set to spearhead a new £1bn fund that will channel cash from some of the country’s biggest pension schemes into start-ups. Pension funds including Nest, the workplace scheme set up by the government, Railpen, Border to Coast and the Local Pensions Partnership Investments (LPPI) are set to back the new government-led [...]
Scotland’s tax hike may have backfired as receipt falls July 26, 2026 The Scottish government’s decision to raise the top rate of income tax may have backfired, according to analysis by the lawyer Dan Neidle. Neidle’s research on tax data suggested that a decision to increase the top income tax rate to 48 per cent led to lower receipts. HMRC data from 2024-25 suggested that the Scottish [...]
Burnham ‘aware’ of Healey’s extra £9bn spending demands July 26, 2026 Andy Burnham has said he was “very aware” of John Healey’s demand to spend at least £9bn more a year on defence when he appointed him as Chancellor. The Prime Minister has said he would ensure Sir Keir Starmer’s Defence Investment Plan (Dip) was “fully funded” in an interview with the BBC as his “first [...]
Healey: Squeezed businesses also need ‘breathing space’ July 23, 2026 Chancellor John Healey has said he is “just as concerned” by costs facing businesses as those facing households, adding that bosses also required “breathing space” to manage burdens from energy, labour and supply chains. Echoing Andy Burnham’s pledge to provide “breathing space” on the cost of living, Healey said he would aim to ease cost [...]