A UK captive insurance regime will make Britain more competitive July 16, 2025 The Chancellor used here Mansion House speech yesterday to announce that she is creating a new domestic framework for captive insurance, aiming to attract companies back from offshore financial hubs and reinforce Britain’s status as a global leader in the insurance industry, says Chris Lay Yesterday, as part of the UK Chancellor’s Mansion House speech, [...]
Swatch: Rachel Reeves’ tax hikes could see profit fall further July 16, 2025 Swiss watch brand Swatch has warned its UK profit could continue to shrink as a result of Chancellor Rachel Reeves’ tax hikes. The business has said the increase in employer’s National Insurance contributions – which were announced in October 2024 and came into effect in April this year – will increase operational costs. Swatch added [...]
Cohort’s shares rally after soaring defence demand spikes profit July 16, 2025 Defence tech group Cohort shot past market expectations for the year ending April 30 as geopolitical tensions helped spike demand. The London-listed firm, whose customers included the UK Ministry of Defence, recorded a pre-tax profit of £25.6m, up 29 per cent from 2024. This came as revenue jumped 33 per cent to £270m as the [...]
Pressure on Bank of England and Reeves as inflation spikes July 16, 2025 The UK economy is at risk of ‘stagflation’ after official data revealed that inflation edged up to 3.6 per cent in June, putting further interest rate cuts by the Bank of England at risk. In the latest set of price growth data before the next monetary policy decision in August, the Office for National Statistics (ONS) reported that [...]
Mansion House reforms will make London the destination of choice for financial services July 16, 2025 The Chancellor’s Mansion House speech sets out a new strategy to cut bureaucracy in the UK’s financial services sector, aiming to drive investment, support businesses and savers, and restore the country’s status as a global financial leader, says Emma Reynolds For too long, our most promising businesses have been held back by a system that [...]
City raises a glass to Reeves’ reforms July 16, 2025 The City may have been a bit damp and grey yesterday but the Chancellor appeared as a welcome ray of sunshine. At City AM, we haven’t held back in our criticism of this government’s economic policies – and we’ll return to that theme before long, I’m sure – but we also believe in giving credit [...]
Regulation is ‘a boot on the neck of businesses’, Rachel Reeves to warn at Mansion House July 15, 2025 Financial services regulation is “a boot on the neck of businesses,” Rachel Reeves is expected to say as the Chancellor delivers her annual Mansion House speech later today. Reeves will urge watchdogs to “take up the call” of regulating for growth rather than “bend to the temptation of excessive caution” as she seeks to showcase [...]
OBR chief says higher tax is ‘not good’ for growth – or the government July 15, 2025 Chancellor Rachel Reeves risks harming the UK economy’s potential to grow by inflicting extra tax hikes on Brits, the fiscal watchdog has warned, adding that the government risks losing out on returns in the longer run. Rachel Reeves looks poised to raise taxes at this year’s Autumn Budget as leading City analysts believe the higher [...]
Firms spring into gear as Reeves green lights UK captive insurance regime July 15, 2025 The UK government has greenlit a captive insurance framework with Rachel Reeves set to reveal the decision in her Mansion House speech this evening
Rachel Reeves launches major fintech push to galvanize listings July 15, 2025 Rachel Reeves has laid out the government’s plans to make the UK the world leader in fintech in the Chancellor’s latest effort to attract a fleet of listings from the industry. Reeves today unveiled the Treasury’s Financial Services Growth and Competitiveness Strategy, in which she laid out her vision to make the UK the “world’s [...]