IMF downgrades UK growth and warns inflation will be highest in G7 October 14, 2025 Inflation in the UK is set to surge above all G7 countries in the next two years while growth per capita will lag behind the average across advanced economies, the International Monetary Fund (IMF) has predicted. In its World Economic Outlook report, the IMF has said that inflation in the UK will remain higher than [...]
Rachel Reeves told to scrap business rates for new profit tax in Budget October 14, 2025 A City accountancy firm has called on Chancellor Rachel Reeves to scrap business rates in her Autumn Budget and replace them with a new profit tax. Lubbock Fine said business rates, which have been the topic of much lobbying in recent weeks, should make way for a variable local tax on profits. The firm said [...]
UK economy set for marginal August growth October 14, 2025 The UK economy is expected to have marginally grown in August after a sharp slowdown in activity in the second half of the year. A Bloomberg poll of economists suggests the UK economy is expected to grow by just 0.1 per cent over the one-month period, with a contraction of 0.2 per cent in the [...]
Leeds Reforms trigger wave of recruitment in legal banking October 14, 2025 Job vacancies for banking lawyers are expected to soar, driven by the government’s Leeds Reforms which seek to unlock capital and overhaul the ring-fencing framework. Labour market analytics from Vacancysoft reveal that Britain’s legal sector is predicting significant growth in banking roles, both in private practice and in-house at major banks. The report projected a [...]
Revolut’s UK banking licence bid faces global risk scrutiny October 14, 2025 Revolut’s pursuit of a full UK banking licence has hit another stumbling block as regulators seek further information on the fintech’s risk controls in light of its accelerating overseas growth. Officials at the Bank of England have sought commitment from the digital banking juggernaut that it will bulk up its risk management infrastructure to match [...]
Detached, ignorant, and selfish: City broker blasts the Treasury October 14, 2025 City broker Shore Capital has blasted the Treasury as incapable of creating economic growth, as Britain gears up for a tax-raising budget. Rumours of various taxes that Rachel Reeves might introduce in this Autumn’s budget in an attempt to plug a £40bn gap in the nation’s finances have been swirling, despite strong pushback from companies and consumers. [...]
Public sector pay outpaces private amid Budget pressures October 14, 2025 Public sector pay has outstripped private sector pay on an annual basis, according to new official data, with the added pressures on public finances set to force Chancellor Rachel Reeves to hike taxes at the Budget. The Office for National Statistics (ONS) said annual average regular earnings growth was 4.4 per cent for the private [...]
City watchdog unveils plans to support tokenisation as it pursues further growth October 14, 2025 The City watchdog has set out fresh plans to support tokenisation as it ploughs ahead with its growth agenda. The Financial Conduct Authority (FCA) unveiled guidance that provides firms and asset managers clarity on how to adopt the technology effectively in order to boost competitiveness and increase the amount of choice for consumers. Tokenisation allows [...]
Goldman Sachs chief warns Rachel Reeves against bank tax October 14, 2025 The boss of Goldman Sachs has warned Chancellor Rachel Reeves that an increase to the financial burden slapped on the banking sector would dent economic growth ambitions. In a private meeting with the Chancellor, David Solomon said hitting the industry with higher taxes would dampen wider prospects for the country’s growth. The remarks come ahead [...]
Unemployment rises as concerns grow for UK jobs market October 14, 2025 The unemployment rate rose slightly to 4.8 per cent in September, while the inactivity rate was 21 per cent, “largely unchanged” on the previous quarter but below levels seen a year ago. The estimated number of vacancies in the UK also fell by 9,000, marking the 39th consecutive period of job posting declines. The ONS [...]