City sounds alarm over Starmer’s ‘painful’ Budget warning August 28, 2024 City figures have sounded the alarm over the Prime Minister’s warning of a “painful” Budget this autumn, urging him not to “punish risk takers” and warning against “taxing wealth creators”. Sir Keir Starmer delivered his first major address from the No10 Rose Garden on Tuesday as he cautioned that the state of the public finances [...]
Starmer’s civil service cronies set a dangerous precedent August 28, 2024 In appointing donors, yes-men and activists to senior roles, the Labour leader is undermining a cornerstone of our democracy: civil service impartiality, says James Price After years and years of criticising the Tories, Labour were meant to be different. We were told that they would be a breath of fresh air, restoring rectitude and ethical [...]
Starmer pledges ‘wealth creation’ – but can his policies deliver it? August 27, 2024 Sir Keir Starmer has cautioned voters his government’s first fiscal statement would be “short-term pain for long-term good”.
‘Painful’ Budget ahead, Keir Starmer warns in gloomy No10 speech August 27, 2024 Sir Keir Starmer has warned Brits to expect a “painful” Budget this autumn as he insisted the state of the public finances is “worse than we ever imagined”. The Prime Minister addressed the nation from the No10 Rose Garden as he cautioned voters his government’s first fiscal statement would be “short-term pain for long-term good”. [...]
What will Labour do about green taxes? August 27, 2024 With net zero a key plank of the new government’s agenda, what can we expect on environmental taxes in the Budget? Asks Sharon Baynham We have a £22bn black hole in the public finances. Who knew! Well, anyone who dared to look according to the Institute for Fiscal Studies. The blame game has already started [...]
Public sector spending on consultants hits record high despite efforts to cut August 23, 2024 Public sector spending on management consultants has ballooned to a near-record high this year despite efforts to cut reliance on the expensive sector. Fees to consultants from central government, local authorities and other departments swelled to an estimated £3.4bn in the last fiscal year between 2023 and 2024, a rise of 12 per cent on [...]
Treasury and FCA worried by payments regulator’s fraud refund scheme August 22, 2024 The government and City watchdog have raised concerns over a fraud refund scheme from the UK payments regulator that firms have warned could do long-lasting damage to the industry, City A.M. understands.
Growth, inheritance tax and Natwest: Five subplots from the latest borrowing figures August 21, 2024 New figures show that the government borrowed more than expected in July as spending on public services increased faster than tax receipts.
Social rent increases may not ‘move dial’ on housebuilding, Rachel Reeves warned August 21, 2024 Rachel Reeves’ plans to increase social rent may not “move the dial in a material way” on council housebuilding, a corporate finance firm is warning. The Chancellor will reportedly up social rent by bringing in a decade-long formula to raise housing costs in England boosted by the CPI inflation measure – currently 2.2 per cent [...]
Public wary of tax rises as economists warn on ‘disappointing’ fiscal progress August 21, 2024 Although the public are opposed to tax rises in general, there are a couple of taxes which could go up with popular support. Perhaps unsurprisingly, these are taxes which most people do not pay.