BAE Systems raises guidance yet Burnham wavers on defence July 30, 2026 BAE Systems raised its guidance after a series of contract wins yet optimism over spending top-ups may have faded after Prime Minister Andy Burnham refused to commit to lifting expenditure. The aerospace and arms company said profit for the first half of the year amounted to more than £1bn while sales also improved on the [...]
Lloyds beats profit target as bank sets sights on more cost-cutting July 30, 2026 Lloyds Banking Group beat its profit forecast for the first half of the year as the bank’s top boss laid out plans to make further cost savings in the years ahead. The FTSE 100 lender – which owns the Bank of Scotland and Halifax – recorded a £4.3bn pre-tax profit in the first half of [...]
Andy Burnham pledges ‘cost £63bn’ – and tax ideas could backfire July 30, 2026 A series of tax cuts and spending pledges proposed by Andy Burnham and John Healey could cost the government up to £63bn by 2030, new analysis has shown. Promises on defence, social care and council housebuilding could leave the Chancellor facing a bill of between £46bn and £63bn by the end of the decade, which [...]
‘Difficult decisions’ – Burnham looks at new tax on workers to fund social care overhaul July 29, 2026 Andy Burnham has pleaded for opponents to engage in a cross-party discussion over sweeping adult social care reform as he warned that “difficult decisions” would have to be taken to fund the plans. In a press conference from a Jewish care centre in North London, Burnham indicated he wanted social care to be funded on [...]
How can wealthy Scots save £46,000 on income tax? Commute from England July 28, 2026 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 July 28, 2026 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 July 28, 2026 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 [...]