Inheritance tax enquiries surge to six-year high after HMRC clampdown June 17, 2026 Tax authority probes into households’ inheritance tax returns have surged to a six-year high, after a government-led crackdown on avoidance and non-compliance. HMRC opened a total of 4,940 formal inheritance tax enquiries over the last financial year, according to new data obtained by chartered accountants Price Bailey, an 18 per cent increase on the previous [...]
War bonds to lift defence spending ruled out June 17, 2026 Sir Keir Starmer has ruled out issuing defence bonds to fund an uplift in spending as a spokesperson said it was “just another form of borrowing”. In his absence at Prime Minister’s Questions, Starmer’s deputy David Lammy appeared to open the door to defence bonds being created to fund a rise in spending. The Liberal [...]
As it happened: FTSE 100 see-saws after inflation undershoots; Oil at $80 as Trump threatens ‘dropping bombs’ on Iran June 17, 2026 Welcome back to the City AM liveblog. Fresh inflation data this morning showed a reading of 2.8 per cent leading the consumer price index unchanged from May. This came under the expectations of a poll of City analysts by Bloomberg that forecast inflation would come in at three per cent for May. Core inflation, which [...]
Burnham’s focused on spending but at least Streeting’s thinking about growth June 17, 2026 So, what’s it going to be? An end to 40 years of neoliberalism or a future shaped by progressive capitalism? That, at least, is the choice represented by Andy Burnham and Wes Streeting. The former health secretary delivered an impressive speech yesterday, offering an alternative economic vision to the more left-leaning instincts of Labour’s candidate [...]
Healey condemns Reeves: ‘Our adversaries do not follow timetables set by the Treasury’ June 16, 2026 John Healey has delivered a stinging criticism of Rachel Reeves’ handling of defence spending, warning that the UK’s enemies “do not follow timetables set by the Treasury”. In his resignation speech in parliament, the former defence secretary took aim at Sir Keir Starmer and Reeves for failing to fully fund the Defence Investment Plan (DIP), [...]
Musk brands UK a ‘police state’ as Big Tech rebels against Starmer’s social media ban June 16, 2026 Elon Musk, Meta and Google’s YouTube have all attacked Keir Starmer’s planned social media ban for under-16s, warning the restrictions will drive teenagers towards less safe corners of the internet and create sweeping new surveillance powers. The backlash comes as ministers consider forcing Apple and Google to carry out age checks on millions of British [...]
Co-Op and Next among firms launching workplace savings scheme June 16, 2026 A new employer-led coalition designed to help workers build emergency savings and boost financial resilience has launched, urging employees to save regularly in order to avoid unexpected financial storms. The National Coalition for Workplace Savings was launched on Tuesday, representing firms across a range of sectors including retail, hospitality and transport, all urging employees to [...]
Nationwide fires starting gun on mortgage deals ahead of interest rate decision June 16, 2026 Nationwide has slashed its mortgage rates for the second time in the space of a week, ahead of the Bank of England’s interest rate decision on Thursday. The building society has taken the chop to its home loan prices, with a 0.28 percentage-point reduction. It follows a 0.12 cut on 10 June. The move comes [...]
As it happened: Stocks rally as Trump touts Iran deal at G7 summit; Oil lowest since early-March June 16, 2026 Welcome back to the City AM liveblog. Global leaders are gathering today in France for the G7 summit as markets digest the latest developments in the US-Iran peace deal. Relief spread across global markets yesterday after the US and Iran were confirmed to have sealed a deal to stop the fighting in the Middle East [...]
Tiktok falls under ban just as brands ramp up ad spend June 16, 2026 Tiktok’s UK ad business has been growing 40 per cent year on year, with brands increasing spending ahead of what the firm expected to be its biggest trading period on record. But that momentum now faces a test after Keir Starmer confirmed plans to plan under-16s from accessing the platform. The social media giant, which [...]