Homeowners face massive inheritance tax hike after Budget hit November 21, 2024 London homeowners are going to be hit with an eye-watering 1,840 per cent increase in inheritance tax (IHT) liability, as a direct result of Rachel Reeves’ Budget changes, it has been calculated. A single homeowner in the capital with an averaged priced home of £525,586, with the same amount in their pension, will have a [...]
Surge in government borrowing raises threat of more Reeves tax hikes, economists warn November 21, 2024 A sharp rise in government borrowing costs fuelled by pay rises for public sector workers and rising debt payments has raised the threat of future tax hikes, according to economists. Borrowing rose to £17.4bn last month, marking the second highest October figure since monthly records began, according to official figures. The Office for National Statistics [...]
Hospitality firms are bracing for the return of inflation November 21, 2024 October’s inflation figure has worried hospitality firms. While it is not too far above target – 2.3 per cent versus the sweet spot of two per cent – and one month does not constitute a trend, it has exacerbated concerns companies already had about the future of their industry. There are two reasons hospitality is [...]
Rachel Reeves needs to channel Alexander the Great, says City group November 21, 2024 The Association of British Insurers called on Rachel Reeves to break the “regulatory Gordian knot” last night – Hannah Gurga told City AM why the group is calling for faster reform. According to ancient Greek legend, he who untied the Gordian knot was destined to rule over the whole of Asia. Unravelling the stubborn splice [...]
‘FCA is not fit for purpose’: Motor finance lender bosses lash out November 20, 2024 Motor finance lender executives criticised the FCA performance of this sector, telling members of the Lords that the regulator is "not fit for purpose"
Peel Hunt: There’s a ‘missing piece’ in Reeves’ City growth push November 20, 2024 The government has demonstrated a “fundamental shift” in its approach to growth but must address the key issue of pushing investment into the UK stock market, Peel Hunt has said. In an a note to investors today, Peel Hunt’s head of research, Charles Hall, stressed that while Rachel Reeves‘s Mansion House speech had been a [...]
Lidl boss warns retailers are ‘reeling’ after Budget tax raid November 20, 2024 The boss of budget supermarket Lidl has warned retailers are “reeling” following Labour’s tax raid in the Autumn Budget. The German supermarket’s UK boss Ryan McDonnell said the discount brand was staring down the barrel of “tens of millions of pounds” in extra costs. This comes after the Chancellor unveiled a £25.7bn tax-raising package, with [...]
Surging housing costs push inflation back above Bank of England target November 20, 2024 Inflation has risen back above the Bank of England’s two per cent target, the latest data has shown today. According to the latest figures from the Office for National Statistics (ONS) consumer price inflation (CPI) hit 2.3 per cent in October. The figure came in above economists projections. Economists had forecast CPI to come in [...]
Reeves must answer ‘incredibly serious’ questions over CV, Tory MP demands November 19, 2024 Rachel Reeves must answer “incredibly serious” questions over claims she “misrepresented” her CV, a Tory MP has demanded. Richard Holden wrote to the Chancellor following reports she had exaggerated her professional experience at the Bank of England (BoE) and Halifax Bank of Scotland (HBOS). Reeves told Stylist magazine in 2021 that she spent a decade [...]
Exclusive: Labour’s relationship with business ‘at a critical point’, retail boss warns November 19, 2024 If a week is a long time in politics, then four months in retail is a lifetime. When Helen Dickinson, the chief executive of the British Retail Consortium (BRC), last sat down with City AM in late July, she could hardly have been more effusive in her praise for the incoming Chancellor and her business [...]