How much could a UK bank windfall tax raise? Banking The banking sector is considered an easy target for an energy-style windfall tax, with lenders enjoying record profits on the back of interest rate hikes from the Bank of England last year.
Average Northerner to be £210,000 less wealthy as Labour urged to reform taxes amid fears of autumn raid grow Economics New analysis from the Institute for Public Policy Research (IPPR) showed that the UK's tax regime is "driving regional inequalities" by taxing wealth and income at different levels.
Which taxes might go up in the October Budget? Economics In his speech today Starmer said that those with the "broadest shoulders should bear the heavier burden". So where will Starmer and Reeves turn to raise some extra cash?
‘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”. [...]
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.
Dividend tax payers double over last three years as bill soars to £18bn August 20, 2024 The number of people expected to pay dividend tax has almost doubled over the last three years, new data has revealed. Around £18bn is expected to be brought in from the dividend tax in the 2024/25 financial year, according to a Freedom of Information request from AJ Bell, with almost 3.6 million taxpayers forking over [...]
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.
It’s not just taxes, rent, childcare and a decrepit NHS are driving talent out of the UK August 1, 2024 High taxes are a problem, but the list of factors driving talent away from the UK is far more extensive, writes John Oxley One of the first criticisms levelled at Labour’s intended tax rises is their potential to drive high-productivity workers away from the UK. It is a fair one. In a world where capital [...]