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 [...]
HSBC boss: Rachel Reeves hiking bank tax would dent growth July 30, 2025 The boss of FTSE 100 juggernaut HSBC has become the latest banking voice to warn Rachel Reeves against raising taxes on banks over fears it would harm economic growth. Georges Elhedery, HSBC’s chief executive, said on Wednesday any further financial pressures on lenders could spark trouble for the UK economy. “Additional taxation on banks runs [...]
Donald Trump slams North Sea oil taxes that ‘make no sense’ July 29, 2025 US President Donald Trump has slammed the UK for its high taxes on North Sea oil, which he described as a “TREASURE CHEST” for the UK. In an early morning post on Truth Social, Trump said the UK could cash in its oil reserves near Scotland, where Trump opened a new 18-hole course at the [...]
Barclays joins FTSE 100 peers in warning against bank tax hike July 29, 2025 Barclays has become the latest banking giant to send a firm warning to Rachel Reeves to avoid bank tax hike as the Chancellor scrambles to maintain her wafer-thin fiscal headroom. The FTSE 100 giant’s boss CS Venkatakrishnan, known as Venkat, said the government’s mission for growth would not align with slapping a tax increase on [...]
Rachel Reeves urges cabinet to boost British jobs as employment slides July 26, 2025 Rachel Reeves has told cabinet ministers to ensure government contracts go to companies that will boost British workers as employment figures continue to struggle. The Chancellor, along with Chancellor to the Duchy of Lancaster Pat McFadden, told their colleagues that the billions in public spending on transport and infrastructure projects must be utilised as an [...]
Could a tourist tax ever work in London? July 24, 2025 Maybe it’s because I’m a Londoner, but I reckon there are few better tourist destinations. Our city is bursting with history and culture, boasts dozens of plush green spaces and has more Michelin Stars than New York. Should people pay to get in? Ours is one of the top cities on earth to visit, but [...]
UK farmers hit by drought turn to insurance July 21, 2025 As the UK has experienced a relatively hot Summer so far, it is the farmers who are in crisis mode fearing the effects of drought
What are heavyweight boxers like Dubois and Usyk really earning? July 19, 2025 With athletes usually trading through a limited company, what are heavyweight boxers like Daniel Dubois and Oleksandr Usyk really earning? When we talk about greatness in sport, we usually talk about physical strength, mindset and sacrifice. We rarely talk about financial resilience: how athletes protect what they’ve earned long after they’ve stepped out of the [...]
City watchdog and HMRC ‘stepping up enforcement’ as number of raids surge July 17, 2025 The number of raids carried out by the City regulators upticked in the last two years, while the pressure on HMRC to investigate tax fraud is showing in the numbers
Keir Starmer refuses to rule out pension tax raid July 16, 2025 Prime Minister Keir Starmer shied away from ruling out a pensions tax raid at the Autumn Budget despite top researchers’ calls for the government to refrain from adding ever-higher cost burdens on Britons. Keir Starmer has faced repeated questions about several taxes being introduced later this year given City estimates that as much as £24bn [...]