Starmer’s business adviser is ‘frontrunner’ to be US ambassador October 15, 2025 Keir Starmer’s business adviser is a frontrunner to replace Peter Mandelson as the UK’s ambassador to the US, according to reports. Varun Chandra, a former venture capital executive who has had to curry favour with business leaders and investors in a difficult year for the UK economy, is being considered for the important diplomatic role [...]
Rachel Reeves: We are looking at tax hikes October 15, 2025 Chancellor Rachel Reeves has revealed the government is considering making tax hikes at this year’s Budget, the first time she has made the admission in public. In an interview with Sky News, Reeves admitted that the government was considering raising tax and cutting spending to fill a fiscal hole. The Chancellor said she would “always [...]
Reeves revives plan to cut cash ISA despite backlash October 15, 2025 Chancellor Rachel Reeves is looking to use the looming Autumn Budget to kickstart plans for a major overhaul of tax-free ISAs, in a bid to get people’s cash savings into domestic stocks. The Chancellor is understood to be reviving a plan to cut the tax-free limit on cash ISAs, potentially halving it from £20,000 to [...]
Scotch Whisky Association calls for spirits duty freeze as industry headwinds grow October 15, 2025 The Scotch Whisky Association (SWA) has urged the UK Government to impose a multi-year freeze on spirits duty, warning that continued inaction threatens jobs, investment and Treasury revenues. In a submission ahead of the autumn Budget, the trade body stated that recent duty increases had cost the Treasury £700m while placing a £12 tax burden [...]
FTSE 100 Live: Ofcom fines Royal Mail, CMA’s vet crackdown October 15, 2025 Good morning from the City AM liveblog team. 15 months on from Labour’s stunning general election victory and a month out from its next budget, how is the City feeling about the current government? It’s safe to say that enthusiasm has waned a little since high expectations were set last year. Some City analysts are [...]
Reeves to limit legal challenges to key infrastructure projects October 15, 2025 Chancellor Rachel Reeves has ordered courts to open hearings on judicial review processes which could threaten to block critical infrastructure projects within four months of an application being made as part of a pre-Budget rush to introduce growth-inducing reforms. As part of a new set of planning-related proposals on Wednesday, the High Court will have [...]
China spy scandal shows there’s no national security without economic sovereignty October 15, 2025 The government has made clear it thinks Beijing’s cash is more important that our own laws, there is another choice, says Tom Tugendhat The collapse of the China spy case says more about Britain than China, and more about our economy than any Treasury forecast. The government has made clear they think we have no [...]
Treasury eyes ISA season for financial advice scheme rollout October 15, 2025 A flurry of fresh financial advice could be aimed at savers as soon as February as the Treasury seeks to fast-track the rollout of its flagship scheme to get more Brits investing in the stock market. In a speech to the Investment Association last night, Economic Secretary to the Treasury Lucy Rigby confirmed the government [...]
Self-inflicted damage makes mockery of government growth pledge October 15, 2025 Back in June, before Donald Trump orchestrated a tentative peace in the Middle East, he reacted with fury to Israel and Iran’s escalating exchange of missile and drone attacks, telling reporters “they don’t know what the f**k they’re doing.” Sometimes undiplomatic language has its place, even in high-stakes diplomacy. I was reminded of this approach [...]
Bank of England’s Taylor: High rates could push UK into recession October 14, 2025 The UK risks heading into a recession that will be “difficult to contain” if interest rates are kept on hold into next year, a Bank of England rate-setter has said in a speech that has further exposed widening splits between policymakers over the best path for borrowing costs. In a set of dovish comments made [...]