Italy and UK risk driving Formula 1 away with misguided tax raids Sport Business Italy’s latest attempt to claw back tax from Formula 1 drivers and teams is being framed as a crackdown on evasion. In reality, it looks far more like a system struggling to keep up with the modern sport it is trying to regulate. Authorities are reportedly looking to audit teams and drivers retrospectively between 2020 [...]
UK workers suffer bigger tax hikes than any leading economy after Reeves’ raid Economics Taxes on wages in the UK rose at a faster pace than any country tracked by the OECD as Chancellor Rachel Reeves’ measures have squeezed people’s incomes. A new report by the OECD – the Organisation for Economic Co-operation and Development – has found that taxes in the UK for single workers jumped higher than [...]
UK suffered biggest unemployment surge in G7 Economics UK unemployment rose at a faster pace than any country in the G7, the OECD has said, with a sharp rise in joblessness particularly damaging for the youngest people. Unemployment levels across the country rose sharply by 0.8 percentage points over the year to 5.2 per cent between the last three months of 2024 and [...]
UK economy jumped above forecasts before Iran war April 16, 2026 The UK economy was growing ahead of expectations before the war in the Middle East erupted, official data has shown. The Office for National Statistics (ONS) said GDP grew by 0.5 per cent over February, though City analysts have suggested the figures are “too good to be true” given trends seen in recent years. In [...]
The OECD is right about the £100k dead zone where work doesn’t pay April 15, 2026 A household with two young children could be more than £13,000 worse off next year for accepting a routine pay rise that pushes them over the £100,000 threshold, says Michael Healy The OECD delivered a blunt message to the UK last week: simplify the tax system or accept weaker growth. That should not be ignored, [...]
From Jaffa Cakes to National Insurance: How to fix Britain’s mad tax system – according to the experts April 14, 2026 In its latest report, the OECD scolded the UK for its illogical and growth-impeding tax system. Ali Lyon speaks to five tax experts to work out how to fix it. Potato crisps and their corn chip cousins are – as indulgent savoury snacks go – undeniably similar. They taste alike and are a similar size. [...]
Reeves and Miliband to call on G7 to follow UK’s energy lead March 29, 2026 Rachel Reeves is set to call on fellow G7 nations to follow the UK’s lead in the transition to renewable and nuclear power as the unfolding energy crisis ripples through global economies. The Chancellor is expected to urge G7 partners to commit to long-term energy security as she meets fellow finance ministers, energy ministers and [...]
UK economy set for second lowest growth in G7 – OECD March 26, 2026 The UK economy is set to suffer the second lowest growth and second highest level of inflation in the G7, the OECD has predicted, in a damning set of forecast revisions for the Labour government and the Bank of England. Growth in the UK will slow to around 0.7 per cent, according to the OECD, [...]
Ministers should ‘stop managing scarcity’ in living standards push March 5, 2026 Government policy should concentrate on reducing the cost of essentials to help improve living standards for lower-to-middle income households, according to a new report from Bright Blue. The centre-right think tank argued that policy should focus on lowering energy costs and improving housing affordability, two areas where the UK performs particularly poorly compared to international [...]
Global minimum tax holds despite Trump’s exemption January 21, 2026 Rumours of the death of Pillar 2, the OECD’s global minimum tax, appear to have been exaggerated, but the international, rules-based order may be discovering its limits, says Tim Sarson Businesses across the globe welcomed in 2026 with the news that the Organisation for Economic Co-operation and Development (OECD) had published the long-awaited update to [...]