Are Brits getting richer? It depends how you measure growth March 30, 2025 Wobbly growth is the opposite of what Rachel Reeves would have hoped for in her first six months as Chancellor. While the headline figure on Friday morning said the UK economy had only expanded by 0.1 per cent in the last quarter of 2024, economists suggested that there was a more pressing matter at hand. [...]
Spring Statement 2025: Rachel Reeves won’t rule out tax hikes at next Budget March 26, 2025 Rachel Reeves has declined to rule out hiking taxes at her next Budget, amid growing pushback from Labour MPs over welfare cuts in the wake of her Spring Statement. The Chancellor told reporters at a press conference that she was focused on growing the economy, despite speculation she will have to find more revenue to [...]
Analysis: Why Reeves faces political pressure over the Spring Statement March 25, 2025 Over the next 24 hours, Rachel Reeves will be putting the finishing touches to Wednesday’s Spring Statement. It marks her second fiscal event as Chancellor, and – despite the promised manifesto commitment of “one major fiscal event a year” – the economic backdrop, and wider political pressure, makes it hard to see the contents of [...]
Pay awards stagnate ahead of national insurance hike March 19, 2025 Pay growth at UK businesses is stagnating as businesses look to cut costs ahead of the Chancellor’s upcoming tax hikes. Figures compiled by HR data and insights provider Brightmine show that pay growth slumped following Rachel Reeves’ Autumn Budget, and have since stagnated at three per cent. The current figure now aligns with the Office [...]
Reeves told to scrap ‘jobs tax’ after headline figures questioned March 12, 2025 A fresh row has erupted just weeks before Rachel Reeves‘ national insurance tax hike comes into effect after the Treasury’s headline figures were scrutinized. When announcing her 1.2 per cent hike to employers’ national insurance contributions (NIC) at the Autumn Budget, Reeves said it would raise “£25bn per year by the end of the forecast period.” [...]
Shadow Chancellor slams inheritance tax changes as an “absurdity” February 26, 2025 Shadow Chancellor Mel Stride has slammed proposed changes to business tax relief, saying that the policy will force many to “shut down or be forced to sell”. Stride’s comments echo those of prominent businesspeople and politicians who have been railing against the higher taxes announced in Labour’s budget for the last four months. “British institutions, [...]
Business secretary accused of false CV claim to be a solicitor February 19, 2025 Business secretary Jonathan Reynolds has been accused of falsely claiming that he was a solicitor before being elected as an MP, despite only being a trainee. The cabinet minister – who is responsible for the UK’s businesses and international trade – has previously described himself as a solicitor, including on his LinkedIn profile, according to [...]
Rachel Reeves vows to fight for economic growth January 28, 2025 The Chancellor will declare that “growth won’t come without a fight” as she unveils her plan to turnaround Britain’s ailing economy with billions of pounds of investment and new infrastructure projects. Reeves will pledge an £80bn boom to the economy from a new Oxford-Cambridge Growth Corridor in a move that comes after the pensions industry [...]
‘Budget hasn’t worked’: Reeves defends China trip as Stride says Brits ‘deserve better’ January 14, 2025 Rachel Reeves has defended her trip to China amid economic turmoil in the UK as MPs argued her Budget “hasn’t worked” and insisted: “The British people deserve better.” The Chancellor appeared in the House of Commons for the first time since last week’s bond market shock threw her public spending plans and fiscal rules into [...]
‘Where is the Chancellor?’: Rachel Reeves urged to cancel China trip amid gilt turmoil January 9, 2025 Mel Stride has criticised Rachel Reeves for her absence in parliament as the UK government’s borrowing costs soar, asking the commons: “Where is the Chancellor?” The Conservative shadow Chancellor hit out at Reeves, who is coming under pressure to cancel a long-planned trip to China and Davos, during an urgent question in the Commons. It [...]