Budget 2025: Banks to ‘bear the brunt of higher taxes’ September 2, 2025 UK banks will be the top target as Rachel Reeves looks to drum up cash in the Autumn Budget, a top economist has said. Chatter around a cash grab directed at banks has escalated over the last week after left-wing think tank the Institute for Public Policy Research (IPPR) proposed that the Chancellor raid the quantitative easing [...]
Budget 2025: Lloyds, Natwest and Barclays brace for a tax raid? September 1, 2025 Ahead of the 2024 Autumn Budget, Prime Minister Sir Keir Starmer warned Labour’s first fiscal event was “going to be painful”. He added those with the broadest shoulders “should bear the heavier burden” as Chancellor Rachel Reeves battled against an alleged ‘£22bn black hole’ inherited from the Conservative government. After lobbying efforts, banks were spared [...]
Business confidence edges up despite tax raid fears August 29, 2025 Business confidence has grown for the fourth consecutive month, according to a fresh survey, despite rising speculation of a fresh tax raid on businesses by the Labour government. Lloyds Bank’s business confidence index edged up two points to 54 per cent in August as sentiment among manufacturers climbed to its highest in a decade. The [...]
Rachel Reeves told ‘copy Margaret Thatcher’ with bank tax raid August 29, 2025 Britain’s banking titans are back in the hot seat as Rachel Reeves faces renewed calls to hike taxes on lenders. The self-described “iron Chancellor” has been advised to take a leaf out of Margaret Thatcher’s book with a fresh levy on banks that would hand the Treasury up to £8bn a year. The levy – [...]
Rachel Reeves could use bank windfall tax to plug Labour’s U-turns July 31, 2025 Rachel Reeves could launch a fresh tax grab on banks to plug the spending holes left by Labour’s recent U-turns, new analysis has found. The Chancellor is poised to hike taxes in the Autumn Budget after a series of government policy switches eroded her already wafer-thin fiscal headroom of £9.9bn. This comes as fresh research [...]
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 [...]
Rachel Reeves warned against piling on small business tax pain July 8, 2025 As Rachel Reeves circles new avenues to boost tax receipts, the Chancellor has faced a fresh warning to ease the pain for small businesses. Businesses have called for Reeves to reverse her Autumn Budget tax hikes and ease the burden for firms as they suffer the crunch of economic uncertainty. One in five small- and [...]
Reeves’ tax raids crush business confidence – but worst is yet to come May 29, 2025 Business confidence plummeted in the three months to May as Rachel Reeves’ tax hikes took hold and firms have warned more pain is to come. Consumer services’ optimism marked its eight consecutive month of decline at -42 per cent, whilst levels of business value plunged to -56 per cent. This was down from -44 per [...]
HMRC review signals potential pension tax changes in Autumn May 28, 2025 Rachel Reeves could target pension savers in fresh tax grab as the Chancellor looks for additional ways to fund the government’s ballooning spending. His Majesty’s Revenue and Customs (HMRC) has published research as part of an official review of workplace retirement schemes, exploring cuts to the tax benefits of salary sacrifice pension schemes. The schemes, [...]
Seabrook: Crisps brand issues warning over Rachel Reeves’ tax hikes May 22, 2025 The company behind crisps brand Seabrook has warned Chancellor Rachel Reeves’ Autumn Budget tax hikes will have an impact on its bottom line this year. The Cheshire-based UK arm of Japanese giant Calbee pointed to the increase in the National Living Wage and employers’ National Insurance contributions, which came into affect in April, as key [...]