Reeves is right to squeeze private equity – but a sweeping capital gains hike will hurt the City, says Cavendish chair September 5, 2024 The government is right to launch a raid on the profits made by private equity bosses but a sweeping hike in capital gains and inheritance tax could suck investment out of the City, the chair of investment bank Cavendish has warned. Lisa Gordon, who chairs the London-listed broking group, urged Rachel Reeves to be “more [...]
Is there a Tufton Street of the left? September 5, 2024 With think tankers and campaigners being appointed to government, it’s tempting to think these secretive groups are calling the tune, but there are better ways to work out what Labour really thinks, says James Nation Over the last 14 years, there was a theory among some commentators that went something like this: yes, Conservative Prime [...]
Are the super-rich running out of road? September 4, 2024 As more western governments look at ways to increase taxes for the ultra-rich, Ali Lyon asks whether it will work
‘New footing’: Eurogroup president pledges closer ties with City of London as Brexit tensions ease September 4, 2024 The president of the EU’s council of financial ministers pledged closer ties with the City of London yesterday as he hailed a “new footing” in the relationship between Keir Starmer’s government and the bloc.
Spending without productivity improvements won’t lead to better public services September 4, 2024 Restoring the differentials in public and private sector pay to those which prevailed in 2010 without quid pro quo increases in productivity is simply stirring up trouble for the future, says Paul Ormerod The decision by the government to stuff money into the bank accounts of the train drivers and junior doctors has been widely [...]
Banks’ fraud loss coverage reportedly to drop to £85,000 after industry backlash September 3, 2024 The maximum fraud losses banks are obliged to cover is set to drop to £85,000, down from a planned £415,000, according to a report.
Pension tax relief: Reeves warned of ‘backlash’ – but offers up roadmap for firms September 3, 2024 Chancellor Rachel Reeves has declined to rule out increasing taxes on pensions in the upcoming Budget, sparking fresh warnings over “anti-growth” policies. Speaking in the Commons on Tuesday, Reeves refused to “speculate about what will be in the Budget” when asked to give savers “peace of mind” over rumoured annuity levies. Despite failing to give [...]
True state of the public finances continues to divide opinion September 3, 2024 The true state of Labour’s fiscal inheritance continues to divide opinion. Over the first few weeks in office, the new government has been painting a very gloomy picture of the state of the public finances. The doom-mongering reached new heights last week after Sir Keir Starmer argued the state of the public finances were “worse [...]
Planning reforms are good news – but there is more Labour could do September 3, 2024 Rumours are running amok about which taxes Labour might hike in the Budget and what impact those policies might have on growth.
‘The mood change is palpable’: UK firms feel Labour lift despite looming tax raid, says Peel Hunt September 3, 2024 The UK economy is “rebounding solidly” and the City of London is reaping the benefits of the Labour government’s ‘growth agenda’ despite fears of an looming round of swinging tax cuts, one of the Square Mile’s top investment banks has said.