Reeves seeks to spark retail investor revolution July 15, 2025 High street banks Barclays and Lloyds will lead an advertising campaign to encourage more Brits into retail investing as part of a wider effort to get savers to boost the UK economy. In rallying calls to financial services, Chancellor Rachel Reeves has unveiled a campaign to encourage savers to invest in stocks and bonds, drawing [...]
Minister says only ‘average incomes’ up to £39k safe from Reeves’ tax hikes July 15, 2025 A government minister has said that Labour will stick to its manifesto commitment not to raise personal taxes, at least for those on “average incomes” – earning up to £39,000. Successive ministers over multiple days of media rounds have been caught in an increasingly tangled mess of definitions of what it means to be “wealthy”, [...]
In Starmer’s Labour, it’s backbenchers that hold the power July 15, 2025 Labour needs backbenchers who fight for growth, not just block spending cuts, writes Michael Martins in today's Notebook.
Sajid Javid joins calls to replace ‘unfit’ NHS with insurance model July 14, 2025 Former health secretary Sajid Javid has joined calls for a major overhaul of the National Health Service (NHS) that would see it replaced by a universal social insurance-based model. Javid said a “serious conversation with taxpayers” about how to fund the institution was “long overdue,” throwing his weight behind a paper by Policy Exchange which [...]
Wealth tax would take years to set up, Labour warned July 14, 2025 The introduction of a wealth tax would take years to set up as well as substantial investment in “additional personnel” and tools to track assets, a leading City bank has warned. Cabinet ministers including Keir Starmer have refused to rule out a wealth tax in the last week, with the government preparing for a revenue-raising [...]
Treasury minister Darren Jones struggles to define ‘modest income’ July 14, 2025 Chief Secretary to the Treasury Darren Jones says Labour’s “working people” tax pledge refers to “anyone that gets a payslip, basically”. Rachel Reeves’ deputy was asked across multiple interviews on Monday morning to clarify who exactly would be shielded from tax hikes, and whether Labour’s pre-election promises not to raise levies on “working people” will [...]
Rachel Reeves urged to make ‘bold choices’ at Mansion House speech as growth stalls July 14, 2025 Financial services are looking to Rachel Reeves’ Mansion House speech and the launch of her new growth strategy for the sector as a pivotal turning point. The industry has been courted by the Chancellor in hopes of feeding ideas into the Treasury’s inaugural Financial Services Growth and Competitiveness Strategy. Now, firms look to be banking [...]
Rachel Reeves risks ‘serious damage’ with tax hikes, OBR member warns July 11, 2025 Fears of another Rachel Reeves’ tax raid are growing after fresh figures revealed the economy shrank in May, but a member of the OBR has warned the Chancellor against drastic measures, including tax hikes. The Chancellor is facing renewed pressure, with economists warning that the government’s £190bn spending splurge, sporadic U-turns, and poor growth figures are set [...]
Keir Starmer agrees migrant returns deal with France July 10, 2025 Keir Starmer has agreed a “pilot” deal to return illegal migrants to France in an exchange for individuals to arrive as asylum seekers as part of a drive to curb small boat crossings. In a speech delivered alongside French President Emmanuel Macron, Starmer said the new plan would come into effect in the coming weeks. [...]
Number of affordable homes started in London plummets July 10, 2025 The number of affordable homes underway in the capital has fallen far short of expectations as tight regulations and cost pressures make sites unviable. The Greater London Authority has so far completed 871 homes under the 2021-2026 Affordable Homes Programme (AHP), according to its annual housing report. This is just over five per cent of [...]