Shakira’s taxes don’t lie as singer wins £48m tax row Tax A Spanish court has ordered the country’s tax authority to repay Colombian singer Shakira £48m after ruling that it had improperly collected the money in a dispute over her tax payments. In a statement published today, Madrid’s National Court said it has upheld Shakira’s appeal against the fine she was hit with five years ago, after [...]
What does new City minister Rachel Blake have in store for the Square Mile? Politics The Westminster drama has hit the City in more ways than one. After Wes Streeting’s resignation triggered a mini-reshuffle, Felix Armstrong and Samuel Norman take a look at what the new City minister might have in store. In just under two years, the City has its fourth minister. Tulip Siddiq resigned in January 2025 after [...]
Barclays and Lloyds shares sink as political storm puts banks in tax sights Banking The UK’s banking giants led a major sell-off across the FTSE 100 this morning as a combination of political hazards hit the London stock market. Barclays was the top faller on the index shortly after market open, shedding over four per cent to 410.65p. Natwest was not far behind, also losing over four per cent [...]
‘Twenty years of caution’: Banking industry ramps up efforts to fix ‘anaemic’ UK growth May 11, 2026 The UK’s industry body for banking has stepped up its lobbying efforts for the government to improve “anaemic” growth figures and bolster the financial services sector. A new report published by UK Finance – the body representing around 300 firms that provide UK banking services – has issued a nine-point plan, which calls for “clear [...]
London local elections 2026: Who will win in Barnet? May 6, 2026 Labour faces a battle in defending Barnet in the local elections after recent surges in council tax and a flurry of defections since 2022. Barnet stands as a real test for both the Conservative and Labour party. What was traditionally a safe seat for the Tories flipped red in 2022 as Labour won the borough [...]
A bank tax hangs in the balance at the local election ballot May 6, 2026 As speculation of a leadership challenge – or sweeping reshuffle – surrounds the forthcoming local elections, in this week’s column Samuel Norman looks at what a change in Chancellor would mean for the banking sector. It is no secret that Thursday’s local elections carry a weight far heavier than the fate of a few neighbourhood [...]
Tax hikes call time on two pubs a day crushing 2,400 jobs May 5, 2026 The government’s bitter round of tax hikes imposed on the hospitality industry is said to have forced the closure of two pubs a day in the first three months of the year in yet another blow to the already bruised sector. Figures from the Beer Bar and Pub Association (BBPA) showed 161 pubs across Britain [...]
Lloyds fires bank tax warning shot as industry ‘ripe for cash grab’ April 29, 2026 Lloyds Banking Group has warned the Treasury not to look at the banks for a tax raid as the industry sets its sights on booming profits in 2026. The FTSE 100 giant beat profit expectations by a cool £200m in the first-quarter after booking £2bn. This was also followed up by an upgrade to its [...]
Barclays takes shot at tax speculation as UK growth forecast cut April 28, 2026 Barclays has taken a shot at the wave of tax speculation surrounding the industry as the bank trimmed its growth output for the year ahead. Fears the banking sector might be targeted for a cash grab have gathered pace following the war in Iran, amid concerns over mounting cost pressures. The Middle East conflict is [...]
Britain’s most AI-exposed sectors foot biggest tax bill March 31, 2026 The UK sectors most exposed to artificial AI are concentrated in the same parts of the economy that generate the bulk of tax revenues, according to government and industry data. A 2026 assessment from the UK government shows AI is most applicable to tasks involving data processing, analysis and routine cognitive work, activities concentrated in [...]