Revolut and Monzo urge Healey to raise bank tax threshold Fintech Revolut, Monzo and Shawbrook are among a raft of challenger banks calling for John Healey to raise the threshold at which UK lenders are hit with an additional tax grab. The group – which also includes Investec, Aldemore and OSB – have written to the Chancellor ahead of the Budget in a bid to remove [...]
Founders should not be ‘put off’ by inheritance tax, says Treasury minister Politics A senior Treasury minister, while praising the state of the UK economy, has said entrepreneurs should not be “put off” by inheritance tax. Emma Reynolds, the chief secretary to the Treasury, on Thursday, at a visit to Numatic International, the makers of the Henry vacuum cleaner, said entrepreneurs should not be “put off” by the [...]
Healey plan to slash headroom would ‘not be received well’ by nervous bond market Markets John Healey’s reported plans to slash the breathing space the government has before it breaks its spending rules would spark a negative bond market reaction and lead investors to question the country’s commitment to fiscal credibility. Bond traders told City AM that any attempt to significantly reduce its so-called fiscal headroom would leave the country [...]
Autumn Budget: Healey weighs slashing fiscal headroom to reduce tax hikes September 24, 2026 Chancellor John Healey is debating accepting a smaller fiscal buffer in order to reduce tax hikes in next month’s Autumn Budget. The Treasury and No 10 are in active discussions over whether to set a lower buffer in the Budget than the Office for Budget Responsibility set in March, according to reports in the Financial [...]
Treasury’s new Head of Growth will have their work cut out September 24, 2026 Do you want the good news or the bad news? Trick question, I’m afraid. There is no good news. The Organisation for Economic Co-operation and Development (OECD) has revised its forecast for UK economic growth this year from 0.9 per cent to 1.1 per cent, but – before you reach for the champagne – they’ve [...]
Reeves’ ‘ambitious’ £14bn savings plan leaves Healey with a Budget headache September 23, 2026 Cost saving measures pencilled in by the last government have dramatically reduced Chancellor John Healey’s ability to look for spending cuts and efficiency gains at his first Budget, economists have warned, raising the prospect of fresh tax hikes. Healey is under pressure to rebuild his £23.6bn fiscal buffer, which is predicted to shrink due to [...]
As it happened: US stocks make gains ahead of Trump-Xi summit September 21, 2026 Welcome back to City AM’s FTSE 100 liveblog. The UK’s blue-chip index made gains on Monday morning, turning a corner from heavy losses on Friday. Miners and industrial stocks like Anglo American, Antofagasta and Metlen Energy and Metals were among the FTSE 100’s biggest risers on Monday morning. BP and Shell dragged on the index, [...]
Explainer: What on Earth has the Bank of England done with its bond sale programme? September 18, 2026 The Bank of England chose to hold interest rates at 3.75 per cent on Thursday. But its unexpected overhaul of quantitative tightening could be far more consequential, says Ali Lyon. On days when the Bank of England’s Monetary Policy Committee decides the future of interest rates, that choice – and the thinking that goes into [...]
Ignorance is no excuse for Labour’s economic failures September 18, 2026 John Healey is copying Rachel Reeves’ technique of gaslighting the nation into thinking he had no idea what the bind markets and OBR have been screaming at every fiscal event, says Tom Harwood It feels like “I Got You Babe” by Sonny and Cher should have been irritatingly on repeat every morning this week. Why? [...]
Aldermore’s sale interest shows banks are over motor finance September 17, 2026 Lloyds, Nationwide and Investec are all tipped to be circling Aldemore as its South African over prepares a sale. Samuel Norman takes a look at the runners and riders and what it could do for the market. Has the banking industry finally moved on from motor finance? The number of suiters circling Aldermore suggest as [...]