Elizabeth Line branded a ‘folie de grandeur’ in Treasury campaign against Crossrail Transport and infrastructure Tory Chancellor Kenneth Clarke warned that initial plans for the Elizabeth Line were a “folie de grandeur” that taxpayers would be unwilling to foot the bill, during a protracted rearguard action against the megaproject by the Treasury in the 1990s, City AM can reveal. According to a fraught set of ministerial correspondence released to the [...]
HSBC chair poured cash into failed tax avoidance investment scheme Banking The new chair of HSBC lost money in a tax-avoiding investment scheme that ultimately collapsed, City AM can reveal. Brendon Nelson became a partner and investor in a biofuel exploration business called Future Fuels, itself part of a wider scheme called Elysian Fuels which was operated by Future Capital Partners. The unregulated investment scheme was [...]
‘If we’re serious about growth this is the lever to pull’, says Treasury adviser Entrepreneurship UK founders are launching businesses faster than ever, yet many still feel undervalued, underfunded, and overlooked. The 2025 UK StartUp Report showed that only 29 per cent of founders believe entrepreneurship is seen as a desirable career while just 27 per cent feel successful founders are celebrated. And, perhaps worst of all, only around a [...]
UK investors spooked by tax hikes on dividends and savings December 16, 2025 Rachel Reeves’ Budget decisions have raised alarm bells among DIY investors after they were hit with tax hikes and cuts to incentives, despite the Chancellor’s aim to push more funds into public markets. Over 70 per cent of investors said they were concerned about the increased basic and higher rates of taxes on dividends, property [...]
Starmer addresses leadership rumours amid bond market warnings December 15, 2025 Keir Starmer has acknowledged that speculation over his leadership is “rife” amid fresh concerns that a change in Prime Minister could spark panic in the bond markets. The PM vowed to take action on leaks and briefings coming from Downing Street over the last few months, adding that he had previously dismissed officials for sharing [...]
High earners see purchasing powers eroded after Budget measures December 15, 2025 High earner households could lose thousands in purchasing power over the next few years as a result of measures introduced in last month’s Autumn Budget. According to analysis of HM Treasury data, high earners not rich yet (HENRY) households will see an average reduction in their annual purchasing powers by over £15,000 by 2029, due [...]
Crypto firms face clamp down from Treasury and watchdog December 15, 2025 Cryptocurrencies will face regulation like any other financial products under new laws announced by the Treasury. Firms that offer crypto products will fall under the Financial Conduct Authority’s jurisdiction as part of new rules requiring digital assets providers to meet a set of standards from the City watchdog. The Labour government said the new legislation, which comes into [...]
Law Society welcomes crypto’s new legal status December 8, 2025 The Law Society has welcomed the government’s new Property (Digital Assets etc) Act, which passed into law last week and places cryptos, NFTs and other digital tokens as personal property. This settles years of uncertainty over whether digital assets could be owned, inherited, or recovered in court – a grey area that has frustrated investors [...]
UK Finance warns tech giants to step up in Britain’s fraud fight December 6, 2025 UK Finance has delivered its most forceful warning yet to the world’s biggest tech platforms, with chief executive David Postings calling on Silicon Valley to “grasp the scale of the crisis” and do far more to stop fraud spreading across their networks. Speaking at the Economic Crime Congress 2025, Postings said the UK is now [...]
FCA chief ducks committing to investigating Treasury briefings December 3, 2025 The boss of the City watchdog appeared to skirt committing to investigating Treasury briefings when pressed on the Labour government’s “possible market abuse” on Wednesday morning. Nikhil Rathi, chief executive of the Financial Conduct Authority, has been lobbied by the Conservatives and other opponents to the Labour government to look into the rogue briefings on [...]