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.
Rachel Reeves facing ‘tough choices’ after latest UK borrowing figures August 21, 2024 Already this financial year the government has borrowed £4.7bn more than predicted by the Office for Budget Responsibility (OBR) back in March.
Government borrowing exceeds estimates as public sector spending jumps August 21, 2024 Monthly borrowing figures will be closely watched over the coming months for clues about how much Labour will raise taxes in October's Budget.
Therese Coffey: Former Tory deputy PM applied for Labour Treasury job August 14, 2024 Former Conservative deputy prime minister Therese Coffey reportedly applied for a senior role in the Treasury under Labour. The ex-MP – who lost her Suffolk Coastal seat at the general election among some 200 Tories who failed to secure re-election – put herself forward for the role of UK director at the European Bank for [...]
A burden or a blessing? PFIs look set for a return under Labour August 13, 2024 Reports that Rachel Reeves is mooting the use of private finance to fund the £9bn Lower Thames Crossing has fuelled chatter that Private Finance Initiatives could be set for a return.
Health tax incentives could boost economy by £2.65bn, CBI suggests August 13, 2024 Worker health tax incentives could offer a £2.65bn boost to the economy, a business lobby organisation has suggested.
Blackstone chief Steve Schwarzman’s NIMBY problem: Newts in My Backyard August 7, 2024 In his day job as Blackstone’s chief executive, Stephen Schwarzman is used to dealing with slimy adversaries conspiring to prevent him from getting his way. But now the private equity boss is facing a similar problem in a more personal capacity, after the potential presence of an endangered species of newt has prevented him from [...]