Reeves urged to cut bank tax as UK competitiveness lags February 25, 2026 Rachel Reeves is facing renewed calls to cut tax on the banking sector after new bombshell research laid bare the competitive disadvantage UK lenders are battling against. The Chancellor spared banks from a highly-anticipated fresh tax raid in the Autumn Budget but a new report – penned by the Association for Financial Markets (AFME) and [...]
UK unemployment will surpass pandemic high, says JP Morgan February 24, 2026 UK unemployment will brush past its peak in the Covid-19 pandemic, Wall Street’s biggest bank has predicted, as employer’s still feel the brunt of Rachel Reeves’ cash grabs. The rate of unemployed Brits is tipped to reach 5.5 per cent by the late spring, according to a forecast by JP Morgan, which would mark an [...]
Louise Haigh doubles down on demand for OBR overhaul February 24, 2026 Former transport secretary and vocal soft-left backbencher Louise Haigh has issued another plea for Chancellor Rachel Reeves to overhaul the Office for Budget Responsibility a week before the Spring Statement. In a swipe at the Chancellor’s management of the UK economy, Haigh argued that mandating the watchdog to produce five-year forecast windows “risks entrenching decline”. [...]
FTSE 100 Live: Stocks take a dip amid tariff turmoil; Oil price soars February 24, 2026 Good morning and welcome back to the City AM liveblog. The good old safety net of London’s blue-chip index strikes again. The week kicked off with more tariff drama after Saturday’s announcement from President Donald Trump of a sweeping 15 per cent levy across the US’ trading partners. As cool heads prevailed in government – [...]
Police arrest Lord Mandelson February 23, 2026 Peter Mandelson has been arrested on suspicion of misconduct in public office, weeks after the police launched an investigation into the former Labour peer over his relations with Jeffrey Epstein. The Met police said in a statement they had arrested a 72-year-old man in Camden. Mandelson was pictured being taken out of his house. A [...]
Admiral pubs boss: business rates will ‘kill off the high street’ February 23, 2026 The boss of a northern-based pubs company has claimed business rates will “kill off” the high street as well as pubs unless the levy is fundamentally reformed. Chris Jowsey, chief executive of Admiral Taverns, told City AM the government must deliver on its pledge to overhaul the business rates system, which he said “penalises bricks [...]
UK and Trump in new tariff discussions as businesses sound alarm February 22, 2026 The UK is in discussions with the US over President Trump’s latest tariff salvo, a cabinet minister has confirmed, as businesses sound the alarm about the increased rate. President Donald Trump raised his base global tariff rate to 15 per cent on Saturday after the US Supreme Court struck down the authority he used to [...]
Davey challenges Starmer on Trump tariffs February 21, 2026 The UK Government should sue US President Donald Trump for 100 billion dollars for the damage caused to the UK by trade tariffs, Liberal Democrats leader Sir Ed Davey has insisted. The Lib Dem branded Mr Trump the “most dangerous, damaging US president of modern times” as he welcomed a “brilliant” decision by the US [...]
Thousands of entrepreneurs quit the UK in the past two years, says wealth manager February 21, 2026 Nearly 6,000 owners of high-growth businesses left the UK over the past two years, following changes to the UK’s tax regime and growing concerns over economic competitiveness. According to research from wealth manager Rathbones, who analysed Companies House filings from between January 2024 and 2026, of the business owners who have left the UK, the [...]
US Supreme Court rules Trump’s ‘Liberation Day’ tariffs were illegal February 20, 2026 The US Supreme Court has handed down a landmark ruling that the sweeping tariffs President Donald Trump imposed on trading partners last year were illegal. Justices were weighing up a case centred around the Emergency Economic Powers Act that allows a President to regulate imports during a national emergency. The White House had argued the [...]