Labour doubles down on welfare vote despite massive revolt June 25, 2025 The Labour government has doubled down on holding a vote on its controversial welfare bill – worth £4.8bn in savings – as soon as next week, despite opposition from more than 130 of its own backbenchers. Angela Rayner told the House of Commons on Wednesday afternoon the government would press ahead with reforms to personal [...]
What does Labour’s industrial strategy really mean for UK tech? June 25, 2025 After years of drift, Whitehall has finally made a plan. Labour’s long-trailed Industrial Strategy landed on Monday – a 10 year blueprint that promises to stitch a broken economic model back together with the help of strategic intervention. For the tech sector, it’s an ambitious document. But many in the industry have said it’s also [...]
Entrepreneurs blast ministers: ‘They don’t get us’ June 25, 2025 Over eight in 10 entrepreneurs say the government does not understand their needs, a survey of founders has said, with over half citing taxes and burdensome red tape as major barriers to their growth aspirations. The poll’s stark findings reveal that just four per cent of business owners believe the Starmer administration has a grasp [...]
Graduate jobs at ‘weakest level since 2018’ as Reeves’ taxes rattle firms June 25, 2025 Graduate jobs are now at their “weakest level since at least 2018”, fresh data has suggested, as Chancellor Reeves’ tax hikes on employers have made bosses avoid hiring junior workers. The UK government has made job creation a crucial part of its efforts to grow the economy and improve living standards for Brits after years [...]
A non-dom tax U-turn could revive prime London property June 25, 2025 Prime property in areas like Mayfair and Belgravia is currently going for as little as £1,800 per square foot, but reversing inheritance tax on global assets could re-establish London’s appeal to the world’s rich, says Edward Matthews Reports that Rachel Reeves is considering reversing the requirement for overseas high net worth individuals (HNWI) to pay [...]
Falling wage growth could usher interest rate cuts, Andrew Bailey suggests June 24, 2025 Bank of England Governor Andrew Bailey suggested interest rate cuts would be warranted as pay growth was set to decline in the coming months.
Borders watchdog casts doubt on Labour pledge to end asylum hotels June 24, 2025 The Labour government’s pledge to end the use of hotels for asylum seekers by 2030 has been dismissed as unachievable by the UK’s borders watchdog. Chancellor Rachel Reeves reiterated at the Spending Review nearly a fortnight ago that the government’s commitment to end asylum hotels would save the government £1bn a year. But David Bolt, [...]
Farmers demand judicial review of inheritance tax grab June 24, 2025 A group of farmers and business owners are seeking a judicial review of the government’s contentious inheritance tax raid, arguing there should have been a public consultation before the policy was confirmed. The claim, which was served to the Chancellor and HMRC on Tuesday, does not seek any concrete changes to the overhaul but alleges [...]
Natwest executive top choice to lead Reeves’ National Wealth Fund June 24, 2025 A senior Natwest executive is the leading choice to become the next chief of Labour’s National Wealth Fund. Oliver Holbourn is the front-runner to oversee the Treasury’s new body with current boss John Flint set to depart in the summer. Holbourn currently heads up Natwest’s RBS International Arm and previously managed UK Financial Investments – [...]
Higher tax ‘inevitable’ as PM makes defence spending pledge June 24, 2025 Keir Starmer’s fresh commitment to ramp up defence spending to five per cent as a share of GDP by 2035 will almost certainly have to be funded by more tax hikes, the Institute for Fiscal Studies (IFS)’ Paul Johnson has warned. The government’s pledge to spend 3.5 per cent of GDP on defence and a [...]