NAO: The government’s new Financial Transaction Control Framework needs strengthening Opinion The National Audit Office’s new report assesses whether the government’s new Financial Transaction Control Framework offers value for money to the taxpayer, says Rachel Fenn The government plans to increasingly use financial transactions (FTs) – such as loans to businesses or equity investments – to pursue its policy goals. As at March 2024, the government’s [...]
Asylum seekers’ cost to taxpayer is unknown, public auditor says Politics The full cost of asylum to the British taxpayer is unknown as the government has not processed data on how much local authorities spend on migrants, the National Audit Office (NAO) has said. In a broad report mapping out asylum seekers’ journeys through the UK’s legal systems and support structures, public auditors found that there [...]
Is the UK’s digital services tax at risk from a US tariff threat? Tech The Digital Services Tax (DST), a two per cent levy on the revenues of major tech firms, has become a key point of friction in the UK’s transatlantic relationship with the US. The tax, which came into force in 2020, was designed to address an imbalance where global tech giants generate significant revenue from British [...]
How much will the Afghan data leak really cost? July 21, 2025 Many questions arise from the astonishing story of the Afghan data leak, but one is why the government seems to have no idea how much it will cost, says Eliot Wilson The announcement last week by defence secretary John Healey that the government had for two years had a super-injunction to conceal a massive loss [...]
Borders watchdog casts doubt on Labour pledge to end asylum hotels June 24, 2025 The Labour government’s pledge to end the use of hotels for asylum seekers by 2030 has been dismissed as unachievable by the UK’s borders watchdog. Chancellor Rachel Reeves reiterated at the Spending Review nearly a fortnight ago that the government’s commitment to end asylum hotels would save the government £1bn a year. But David Bolt, [...]
Firms delay tax payments as costs soar May 19, 2025 Unpaid business tax liabilities are averaging as much as £28bn a month this year, official data has revealed, suggesting firms are struggling to keep up with mounting costs. Chancellor Rachel Reeves’ £40bn tax hikes last autumn, including rises to employers’ national insurance contributions, were designed to lift the public finances and reduce borrowing. But new [...]
Ofwat: Water regulator courts investors with refreshed PFI deals May 16, 2025 Ofwat is courting investors with plans to guarantee risk and minimise competition as it looks for more than £50bn to upgrade the water sector’s second-rate infrastructure. Private investors will have the “right to collect” revenue from customers, “opportunities for upside”, “capped liabilities” and “investment positive” support from the government, according to a briefing paper seen [...]
Tax cost hikes and digital red tape could push landlords to sell up May 15, 2025 Buy to let landlords are set to face fresh tax hurdles that could lead to a squeeze in supply for the rental sector, according to new research. The advisory firm Blick Rothenberg found that the government’s Making Tax Digital (MTD) scheme would add to the costs and administrative burdens of letting properties to tenants. The [...]
UK’s ageing water network would take 700 years to replace at current rate April 25, 2025 Britain’s ageing water network would take 700 years to replace if work continues at the rate seen since privatisation, according to Whitehall’s spending watchdog. The National Audit Office (NAO) on Friday released an extensive investigation into the performance of the the three water regulators, Ofwat, the Drinking Water Inspectorate and the Environment Agency, and Defra. [...]
If the NAO is calling for government innovation, you know it’s bad February 10, 2025 Everyone thinks government should be more innovative, but the NAO saying it means Labour really has dithered, writes Eliot Wilson.