Ministers are in denial over the Budget’s impact on jobs and growth November 28, 2024 Well, that didn’t last long. Barely 48 hours after the Chancellor told the CBI conference that the tax-hiking Budget was definitely a one-off, Keir Starmer declined to echo her comments and instead left the door wide open to another round of tax increases and borrowing. We ought to have some sympathy; no Prime Minister can [...]
The service sector is not to blame for Britain’s industrial decline November 28, 2024 With the government’s new industrial strategy set to be published next spring, there’s a real risk that nostalgia for our manufacturing past gets in the way of the sectors that really drive growth, says Sam Bidwell Political conversations about the British economy are often dominated by one depressing fact – nobody seems ready to celebrate [...]
Forget Reeves’ CV – there’s a bigger transparency problem in monetary policy November 28, 2024 The real discussion shouldn’t be about whether Reeves deserves to call herself an “economist”. It should focus on the unchecked power of current central bank leaders, the far-reaching consequences of their decisions, and how we hold them to account, says Tim Focas The recent controversy over Rachel Reeves’ tenure as an economist at the Bank [...]
Just Eat delisting ‘blow to the City’ and setback for Reeves November 27, 2024 Just Eat Takeaway abandoning the London Stock Exchange “highlights a troubling trend” for UK markets as the government struggles to keep companies listed in Britain. The takeaway delivery company cited low liquidity, burdensome regulatory requirements, and high costs as key reasons for its move, which analysts said underscored the uncompetitiveness of London’s equity markets. “If [...]
Starmer refuses to rule out further tax rises or more borrowing November 27, 2024 Sir Keir Starmer has refused to rule out further tax rises or additional borrowing when challenged to repeat his Chancellor’s pledge not to “come back with more”. During Prime Minister’s Questions (PMQs) in the House of Commons on Wednesday, Conservative opposition leader Kemi Badenoch asked Starmer about Rachel Reeves’ words. She said: “At the Confederation [...]
Labour won’t fool businesses twice November 27, 2024 It’s becoming increasingly clear that trying to explain the value of private enterprise to Marxists is an exercise in what Churchill described as feeding a crocodile, hoping it will eat you last, writes James Price As the great wordsmith George W Bush once said: “Fool me once, shame on — shame on you. Fool me [...]
Employers warn of workers’ rights reform and Budget double whammy November 26, 2024 Businesses are concerned about the aggregate cost of changes to workers’ rights and the cumulative impact of Budget measures, MPs have been told. The committee of MPs scrutinising the Labour government’s employment rights legislation took evidence from business groups, industry representatives and trade unions on Tuesday. And they were warned the combination of reforms to [...]
Budget pension consolidation raises ‘serious concerns’ for UK small firms November 26, 2024 Fund managers that invest in UK small companies have “serious concerns” that plans to consolidate pension schemes might lead to even more money flowing out of British businesses. The plan, announced at Chancellor Rachel Reeves’ inaugural Mansion House speech earlier this month, would combine 86 different local government pension schemes manage assets between £300m and [...]
Inheritance tax grab on London’s junior AIM could cost Reeves £1bn November 26, 2024 Rachel Reeves’ inheritance tax hike on London’s junior market AIM in the Budget is likely to cost more than a billion in revenue for the Treasury, investment bank Peel Hunt has warned. The government had estimated that it would raise £92.5m from its 50 per cent inheritance levy on AIM stocks, based on calculations from [...]
Reeves played fast and loose with business leaders’ trust November 26, 2024 Not long ago, Rachel Reeves would have been right at home in a room full of business leaders and employers. During the election campaign it was comfortable territory for the aspiring Chancellor who reassured the private sector at every turn that Labour would be “the most pro-business government the country has ever seen.” Now, just [...]