Current parliament will mark permanent shift to higher tax economy, says IFS September 29, 2023 The current parliament marks a "decisive and permanent shift" to a higher-tax economy, experts at the Institute for Fiscal Studies said.
Lib Dems chase ‘blue wall’ voters by scrapping plan to raise income tax by 1p September 25, 2023 The Liberal Democrats have dropped their plans to raise income tax by 1p in a bid to woo Conservative voters in so-called blue wall seats during the cost of living crisis. Leader Sir Ed Davey told the BBC he ruled out tax rises even on the wealthiest as his party seeks to target former Tories [...]
Tory MPs split over timing of reported plans to slash inheritance tax September 24, 2023 Conservative MPs are split over the timing of reported plans to slash inheritance tax rates, with some warning the move risks fuelling perceptions of intergenerational unfairness. Rishi Sunak is reportedly preparing to announce a cut to inheritance tax, before abolishing it entirely, according to the Sunday Times. It comes as Sunak is said to be [...]
Lettuce remember: One year on from Liz Truss’ disastrous mini-budget September 22, 2023 One year on from the mini-budget, City A.M. takes a look at the fallout and asks whether Truss still has the ability to influence the Conservative Party going forward.
UK ‘flying blind’ on soaring levels of fraud which has quadrupled since pandemic September 8, 2023 The government is “flying blind” on its exposure to fraud, which has quadrupled since the start of the Covid-19 pandemic, MPs have said. The cross-party Public Accounts Committee (PAC) also said that while most of the £21bn of taxpayers’ money lost to fraud during the pandemic is unlikely to be recovered, the government should be [...]
Don’t be TWaTs: Councils urged to dodge four-day week plans at risk of being ‘part time town halls’ August 31, 2023 Councils have been urged to swerve introducing four-day work week schemes in a bid to dodge “part-time town halls”. Campaigners at the Taxpayers Alliance (TPA) have written to every council leader in the UK asking them to pledge not to bring in a four-day work week. Many City firms have been accused of a Tuesday, [...]
Labour more trusted than Tories on Brexit and the economy, new poll finds August 29, 2023 Voters place more trust in Labour than the Conservatives on issues including the economy, tax policies, Brexit and unemployment, new polling has revealed. Sir Keir Starmer’s Labour Party secured a higher trust rating than the Tories on nine out of ten issues that voters were polled on by YouGov for The Times. Prime Minister Rishi [...]
Calls to cut taxes show ‘questionable judgement’, economists warn August 23, 2023 Economists have warned that calls from Conservative MPs for Chancellor Jeremy Hunt to cut taxes after improved borrowing data emerged show “questionable judgement”. Three backbench Conservatives piled the pressure on, according to the Financial Times, with calls for “personal tax reductions” to “stimulate the economy”. The pleas came after figures from the Office for National [...]
Taxpayers shell out record amount on government spending August 15, 2023 British taxpayers spent a record amount this year funding government spending, a top think tank has calculated. Workers have spent more than 60 per cent of 2023 with their incomes going towards paying off the government’s spending and borrowing, according to the Adam Smith Institute (ASI). Today, August 15, marks, what it has dubbed as [...]
British businesses locked in disputes with HMRC over possible unpaid tax July 31, 2023 More than half of British mid-sized firms are locked in disputes with the taxman over potential unpaid tax, a sign of the troubles companies encounter when trying to navigate the UK’s complex web of levies. Some 61 per cent of 500 firms surveyed by consultancy BDO are embroiled in a tax dispute with HMRC. Tax [...]