UK economy sees fastest services orders slowdown since Liz Truss August 5, 2025 Hopes of a quick recovery to the UK economy are fading as orders in the services sector fell at the fastest rate since Liz Truss’ mini-budget in late 2022, fresh data has suggested. S&P Global’s latest composite purchasing managers’ index (PMI) showed a fall from a score of 52 in June to 51.5, which remains [...]
Cut interest rates to four per cent, City AM Shadow MPC says August 5, 2025 Top economists have voted 8-1 for interest rates to be slashed by 25 basis points in City AM’s new Shadow Monetary Policy Committee (MPC). Amid high inflation and falling job numbers, the Bank of England is set to face a difficult finely balanced decision on Thursday on whether to cut interest rates from the current [...]
FCA boss rejects criticism of motor finance redress August 5, 2025 The head of the UK’s financial watchdog has pushed back at industry claims that the wide scope of the motor finance redress scheme is “impractical”. Nikhil Rathi, chief executive of the Financial Conduct Authority said: “We know it is difficult. But you can’t say the law has been broken and it is too difficult to [...]
Ouch! Starmer and Reeves now less popular than Donald Trump August 5, 2025 Keir Starmer and Rachel Reeves are now less popular than Donald Trump in the eyes of British voters. According to the latest City AM/Freshwater survey, Donald Trump and his on-off acolyte Elon Musk are ferociously unpopular with the average UK citizen. More than 57 per cent of respondents told pollsters they had an unfavourable view [...]
S&U: Motor finance redress scheme must show a changed FCA August 5, 2025 The chair of specialist lender S&U has said the motor finance redress scheme offers the UK’s financial watchdog the prime opportunity to turn its ‘regulate for growth’ rhetoric into action. Anthony Coombs hailed the “common sense” car finance ruling from the Supreme Court as attention turns to the response by the Financial Conduct Authority (FCA). But [...]
Reeves’ non-dom crackdown is unwittingly driving rich Brits away too August 4, 2025 The hordes of wealthy foreigners leaving Britain to escape the government’s non-dom crackdown are being joined by high-net-worth Brits capitalising on an arcane element of the policy that has made it easier for them to avoid paying inheritance tax (IHT). Several wealth advisers and tax lawyers have reported a “second wave of interest” from middle-aged [...]
Rachel Reeves admits Labour has disappointed Brits August 2, 2025 Chancellor Rachel Reeves has admitted that the Labour government has disappointed some Brits after it raised £40bn in taxes at last year’s Autumn Budget. The Labour government have come under fire for its high-tax and high-spend policies in power despite claiming it would be more business-friendly during electoral campaigns last year. Now Rachel Reeves has [...]
Motor finance lenders still on the hook after Supreme Court ruling August 2, 2025 A lukewarm win in the landmark motor finance case has allowed City banks to skirt a nightmare scenario, whilst still remaining open to a regulatory redress scheme. The Supreme Court found that the customers’ claims against the lenders couldn’t succeed based on fairness, known as equity, or tort, which refers to any wrongful actions worthy [...]
Relief for banks after lukewarm motor finance win August 1, 2025 Lenders across the City are breathing a sigh of relief after today's landmark Supreme Court ruling, which upheld the appeals of two banks in the high-profile motor finance commission case.
Business confidence hits ‘record low’ as Reeves slammed over taxes August 1, 2025 Business directors’ confidence in the UK economy has plunged to an all-time low, with firms unconvinced by Chancellor Rachel Reeves’ growth-focussed policies as the impact of last year’s tax hikes continues to play out. Keir Starmer has repeatedly told MPs business confidence is at a nine-year high, pointing to a single business survey put together [...]