Pound sinks to seven-month low after Reeves spikes tax fears November 4, 2025 The pound took a plunge this morning after Chancellor Rachel Reeves spooked the markets with a speech laying the groundwork for big tax hikes in her Autumn Budget. Sterling fell to its lowest since April against the dollar this morning at $1.30 – a 0.46 per cent loss today alone. The pound was also struggling [...]
‘We all have to do our bit’ – Reeves primes Brits for tax hikes November 4, 2025 Rachel Reeves has refused to rule out hiking taxes on millions of Brits as she said everybody will have to “contribute” to fix the UK economy. At a speech on Tuesday, the Chancellor said this year’s Budget would look to address the low productivity, curb inflation in order to prompt fresh interest rate cuts and [...]
FTSE 100 Live: Reeves faces MPs grilling, blue-chip stocks fall November 4, 2025 Welcome back to City AM live blog, This morning, Rachel Reeves took to Downing Street to lay the grounds for the Autumn Budget. In a speech that raised eyebrows across the City, she attempted to offshore the blame for the country’s economic woes to the previous Conservative government. The Chancellor laid out the economic choices [...]
Manufacturers urge government to ‘get growth off the floor’ at Budget November 4, 2025 The manufacturing industry has warned the government to prioritise growth in the Budget as the sector fights back from a year-long downturn in the face of “existential threats.” Manufacturers have faced mounting pressures over the last 12 months as business costs soared in the aftermath of Labour’s first Budget before tariff uncertainty and persistently high [...]
Labour’s assault on jobs will undermine growth November 4, 2025 Rachel Reeves is engaged in a complicated dance with the Office for Budget Responsibility in the run up to her second Budget. When the fiscal watchdog presents its scorecard on the Chancellor’s plans – and on wider government policies – the music will stop and we’ll see whether Reeves pulls off a surprising lift, or [...]
Minimum wage hike puts pressure on professional starting salaries November 3, 2025 With Rachel Reeves poised to raise the minimum wage in her Autumn Budget, mid-tier professional services firms are bracing for significant impacts across the sector. As reported last week, the Budget will likely see employers forced to raise workers’ wages from £12.21 to at least £12.70 an hour. However, for businesses, especially those in the [...]
Nigel Farage walks back on tax cut pledges after predicting ‘economic collapse’ November 3, 2025 Nigel Farage has abandoned several major tax cut pledges as the Reform leader predicted an “economic collapse” would trigger a general election as soon as 2027. Farage distanced himself from the party’s previous promise to introduce tax cuts worth £90bn, including by raising the tax-free personal allowance to £20,000, blaming the u-turn on ballooning government [...]
Ryanair boss Michael O’Leary says high tax UK economy is ‘doomed’ November 3, 2025 Michael O’Leary has said that the UK economy is “doomed to continue to fail” until the tax burden starts to come down. Asked on Sky News about what advice he would offer ahead of the Budget, the Ryanair chief said Rachel Reeves should reduce Air Passenger Duty (APD) and reverse “crazy” planned hikes to the [...]
Rachel Reeves’ banking reforms ‘unlikely to be transformative’ November 3, 2025 Rachel Reeves’ financial services growth mission faces a major blow with top City voices warning her regulatory reforms won’t be transformative. The Chancellor unveiled her Leeds Reform package intended to “rewire the financial services industry” in July this year. Whilst the moves were cheered by industry bigwigs, analysts have raised concerns the changes will fail [...]
Productivity crisis deepens as public sector continues to stutter November 3, 2025 Public sector productivity has dropped at its fastest rate in nearly three years, according to fresh official figures that lay bare the government’s multi-year struggle to revive the efficiency of the country’s creaking public services. Data from the Office for National Statistics (ONS) showed total productivity at state-owned bodies fell by 0.7 per cent year [...]