Reeves’ tax raids crush business confidence – but worst is yet to come Economics Business confidence plummeted in the three months to May as Rachel Reeves’ tax hikes took hold and firms have warned more pain is to come. Consumer services’ optimism marked its eight consecutive month of decline at -42 per cent, whilst levels of business value plunged to -56 per cent. This was down from -44 per [...]
Jack up bills to meet electricity demand, says infrastructure quango Transport and infrastructure The National Infrastructure Commission (NIC) has called for further bill hikes and a shake-up of the way the UK’s electricity network is regulated to meet rapidly increasing demand for power. Current regulation by Ofgem is “too complex” and discourages operators from making the “proactive investments” needed to improve the network’s capacity, the government’s independent adviser [...]
Government too involved in HS2, warns top infrastructure adviser Transport and infrastructure Too much government involvement in HS2 has hampered delivery and fuelled massive cost overruns and delays, according to a key infrastructure adviser. Sir John Armitt, chair of the National Infrastructure Commission, told MPs he had “never been convinced by the governance structure of HS2,” having been influenced by his own experience delivering the infrastructure for [...]
Rise in National Insurance and Minimum Wage delivers ‘ big blow’ to struggling firms October 30, 2024 Rachel Reeves’ increase to employers’ National Insurance Contributions (NIC) will be a “big blow” to sectors already suffering from higher costs, a number of businesses have warned. While delivering the Autumn Budget this afternoon, the Chancellor announced a number of “very difficult decisions” in order to fill the £22bn “black hole” inherited by the Conservatives. [...]
Treasury chief unveils new infrastructure body after HS2 fiasco October 10, 2024 The National Infrastructure and Service Transformation Authority (NISTA) will bring oversight of UK infrastructure under "one roof."