Sadiq Khan lobbies Burnham to appoint Miliband as Chancellor July 11, 2026 London mayor Sadiq Khan has weighed into the debate over who should be the next chancellor, lobbying Andy Burnham to select Ed Miliband for the job. In a private discussion with Burnham, Khan argued that Miliband had both the political skills and economic expertise to deliver Burnham’s agenda, including devolving powers to city regions, people [...]
Treasury minister: Meeting Nato defence pledge is Burnham’s job July 9, 2026 The Treasury has not evaluated how the government could reach its pledge to spend 3.5 per cent of gross domestic product on defence by 2035, according to a cabinet minister, who said it was a job for the “next government” to carry out. Speaking to a parliamentary committee, chief secretary to the Treasury Lucy Rigby [...]
How the boss of Zilch became UK fintech’s power broker July 8, 2026 Last year, Zilch founder Philip Belamant sat down with then-boss of Monzo, TS Anil. As the two friends caught up, Belamant was fizzing with ideas to turn his $2bn British fintech into a global powerhouse, according to sources familiar with the matter. Not long ago, Zilch had set up shop across the pond, and Belamant [...]
Government ‘mis-sold student loans’ to teenagers, MPs say July 7, 2026 A group of MPs have accused the government of knowingly mis-selling student loans for years to unsuspecting teenagers, after using adverts comparing repayments to mobile phone contracts and failing to properly inform them of certain conditions. The Department for Education (DfE) used a bundle of promotional materials comparing monthly student loans repayments to low-cost monthly items, [...]
Burnham told to launch £100bn tax reform package July 6, 2026 Andy Burnham has been urged to introduce sweeping tax reforms that could generate over £100bn in extra government revenue by a group of influential economists, which includes his own heavyweight adviser Jim O’Neill. A letter signed by O’Neill, who was formerly a Treasury minister and Goldman Sachs executive, urged the next Prime Minister to introduce [...]
Exclusive: Reynolds never met Thames Water investors before rejecting rescue deal July 1, 2026 Environment secretary Emma Reynolds never met the investors behind a proposed Thames Water rescue package before slapping down their deal out of hand last month, City AM can reveal. Reynolds, who is the minister responsible for water policy, has left officials in her department to meet representatives of a large creditors’ group, which includes investment [...]
LSE draws up ‘worst case scenario’ US listing flight risk June 28, 2026 The London Stock Exchange is preparing for as many as 20 FTSE 100-listed companies to move their direct listings to New York, according to reports, in a move that would leave a £2bn gap in the Treasury’s earnings from stamp duty on share trades. The exchange has drawn up a worst-case scenario plan in which [...]
UK banks fear a ‘disaster’ with Ed Miliband as Chancellor June 24, 2026 City banks are fretting over the prospect of Ed Miliband as Chancellor as Andy Burnham mulls who he will give the keys to Number 11. The banking industry is bracing for a shake-up at the Treasury and fears it could be hit with a fresh raft of taxes under a new Chancellor while key deregulatory [...]
Treasury confirms scrapping of Lifetime ISA but industry questions remain June 24, 2026 The government has confirmed it is replacing the hotly debated Lifetime ISA with a new product aimed solely at first time buyers, but industry figures are questioning the new framework. In a consultation published on Tuesday, the government confirmed the new product, dubbed the ‘First Time Buyer ISA’, (FTB ISA) will only be available to [...]
LLPs remain under watchful eye – especially from the taxman June 18, 2026 Despite dodging Budget day taxes, the UK’s limited liability partnership (LLP) model is still facing intense scrutiny, this time from HMRC, which just had a good result from the top court this week, writes Maria Ward-Brennan. The LLP model, used by professional services such as law firms and accountancy firms, came into force 25 years [...]