Rachel Reeves’ tax hikes are driving wealthy overseas investors to flee London July 14, 2025 Chancellor Rachel Reeves’ tax hikes have had the “feared impact” of driving wealthy overseas investors to flee London to escape double taxation of their worldwide income, the company behind The Shard has said. Real Estate Management (UK), which is ultimately owned by the State of Qatar, has revealed the exodus has resulted in it being [...]
Andrew Bailey calls for lower interest rates if job market stalls July 14, 2025 The Governor of the Bank of England has called for more dramatic cuts to interest rates if the jobs market sees a substantial slowdown. In an interview with The Times, Andrew Bailey insisted: “I really do believe the path is downward” for rates. He said that businesses are “adjusting employment” following Rachel Reeves’ tax hikes [...]
Rachel Reeves urged to make ‘bold choices’ at Mansion House speech as growth stalls July 14, 2025 Financial services are looking to Rachel Reeves’ Mansion House speech and the launch of her new growth strategy for the sector as a pivotal turning point. The industry has been courted by the Chancellor in hopes of feeding ideas into the Treasury’s inaugural Financial Services Growth and Competitiveness Strategy. Now, firms look to be banking [...]
HMRC under pressure as underpaid tax by US firms surges July 14, 2025 The UK’s tax collector is under pressure amid a surge in underpaid tax by US companies. HMRC suspects as much as £8.8bn in tax was underpaid by US companies in the previous tax year, a jump of 57 per cent compared to the previous year, according to figures obtained by accounting firm UHY Hacker Young. [...]
London hiring plunges as Rachel Reeves’ tax grab weighs July 14, 2025 London hiring has suffered a steep drop as rising costs weigh on employers following Rachel Reeves’ tax grab. Permanent staff places in the capital – hires with no fixed end date – fell at the sharpest rate in 22 months in June. Meanwhile, temporary bills, which track the total income recruitment agencies earn from placing [...]
Cash Isa limits set to be left untouched at next week’s Mansion House speech July 13, 2025 Cash Isas will be left untouched at next week’s Mansion House speech, in a move that has been welcomed by savings experts. Speculation had been mounting that plans to cut the annual tax-free cash Isa allowance could be announced in Chancellor Rachel Reeves’s Mansion House speech on July 15. But the PA news agency understands [...]
Rachel Reeves to pledge Thatcher-style ‘Big Bang’ for City in Mansion House speech July 13, 2025 Chancellor Rachel Reeves is to pledge a Thatcher-esque “Big Bang” in the City next week as part of her much-awaited Mansion House speech. Reeves is expected to tell senior banking figures to ditch New York and Paris in favour of London or Leeds amid a commitment to slash burdensome regulation. A Treasury source told the [...]
Rachel Reeves’ concierge service aimed at luring investors July 12, 2025 Chancellor Rachel Reeves is expected to launch a “concierge service” for wealthy individuals as part of an effort to lure investors to expand in the UK. During electoral campaigns, Labour hopefuls said they would put wealth creation at the heart of their mission in government. Now Rachel Reeves is set to provide advice to foreign [...]
Bank of England interest rate cut ‘almost certain’ after poor growth July 11, 2025 Fresh growth figures have fuelled speculation of an August interest rate cut in a bid to give the waning UK economy a shot of life. The Office for National Statistics (ONS) revealed on Friday the UK economy shrunk for the second consecutive month with a 0.1 per cent contraction in May. Deutsche Bank’s chief economist [...]
Virgin Atlantic and British Airways owner’s fury at Heathrow charge hike July 11, 2025 Plans for a fresh landing charge hike at Heathrow Airport have triggered fury from its largest airline stakeholders, British Airways and Virgin Atlantic. The UK’s biggest airport on Friday announced its intention to hike the levy it charges airlines for using its runways by 17 per cent, a move that will likely push up ticket [...]