Mark Kleinman: Radical Post Office reform has mutual interest July 17, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column Radical Post Office reform has mutual interest Talk about a pregnant pause: it’s nine months since I reported that ministers had asked the consulting firm BCG to explore options for transferring the Post Office into mutual [...]
Swatch: Rachel Reeves’ tax hikes could see profit fall further July 16, 2025 Swiss watch brand Swatch has warned its UK profit could continue to shrink as a result of Chancellor Rachel Reeves’ tax hikes. The business has said the increase in employer’s National Insurance contributions – which were announced in October 2024 and came into effect in April this year – will increase operational costs. Swatch added [...]
Rachel Reeves’ tax hikes are driving wealthy overseas investors to flee London July 14, 2025 Chancellor Rachel Reeves’ tax hikes have had the “feared impact” of driving wealthy overseas investors to flee London to escape double taxation of their worldwide income, the company behind The Shard has said. Real Estate Management (UK), which is ultimately owned by the State of Qatar, has revealed the exodus has resulted in it being [...]
London hiring plunges as Rachel Reeves’ tax grab weighs July 14, 2025 London hiring has suffered a steep drop as rising costs weigh on employers following Rachel Reeves’ tax grab. Permanent staff places in the capital – hires with no fixed end date – fell at the sharpest rate in 22 months in June. Meanwhile, temporary bills, which track the total income recruitment agencies earn from placing [...]
Wilkin & Sons: King’s jam maker returns to profit despite Reeves’ tax hikes July 11, 2025 Wilkin & Sons, the historic jams maker which supplies King Charles, has returned to profit despite the “significant strain” Chancellor Rachel Reeves’ Budget put on its finances. The Essex-headquartered business, which is behind the Tiptree brand, said the “continued increased in National Minimum Wage” impacted its bottom line while high energy costs also hit its [...]
Reeves warned ‘undermining cash ISAs a serious mistake’ July 9, 2025 Chancellor Rachel Reeves has been warned that “undermining” cash ISAs would be a “serious mistake” and could hike the cost of mortgages and make them harder to access. Skipton Building Society has joined the chorus of institutions voicing their concerns ahead of the Chancellor’s Mansion House speech next week where she is expected to announce a [...]
Rachel Reeves warned cash ISA reforms will hike mortgage costs July 7, 2025 Rachel Reeves’ plans to cut the cash ISA limit have been blasted by the bosses of Britain’s top building societies over fears they will hike borrowing costs. The Chancellor has been warned her proposals to slash savers’ annual cash ISA allowance from the existing tax-free threshold will drive up costs for homeowners and businesses. Concerns [...]
National Wealth Fund to put £28m into carbon capture project July 7, 2025 A government -backed fund is pledging more than £2 for a carbon capture project. Energy secretary Ed Miliband has said that workers in “Britain’s manufacturing heartlands” will benefit from the investment in the Peak Cluster works. Peak Cluster is working towards a pipeline that will take carbon emissions from cement and lime companies in the [...]
Hospitality jobs slump as Reeves’ National Insurance hike bites July 6, 2025 The UK hospitality industry has shed 69,000 jobs since chancellor Rachel Reeves’s rise in employers’ national insurance contributions took effect – a stark reversal from the 18,000 roles created in the same period last year under the previous government. The figures, sourced from the Office for National Statistics, or ONS, mark the steepest peacetime job [...]
Rachel Reeves’ cash ISA plans would ‘choke mortgages’ July 3, 2025 Rachel Reeves’ plans to slash the tax-free cash ISA allowance “would be effectively choking mortgage availability” for those who need them the most, a building society’s CEO has said. Darlington Building Society was reacting to the news that the Chancellor is set to announce a lowering of the current £20,000 cap that savers are allowed [...]