Tax fraud: HMRC ramps up dawn raids in crackdown May 16, 2025 According to the law firm Pinsent Masons, HMRC carried out an average of 12 property searches each week last year, as the campaign against tax evasion intensified and the government tax body became “increasingly proactive.” In the year ending March 2024, the government tax body carried out 648 dawn raids, up from 623 raids in 2022/23. [...]
Government AI pushed stalled by old tech May 16, 2025 The UK public sector is facing a digital crisis, with pressure mounting to roll out AI-driven services, enhance citizen engagement, and modernise remote working. But the sector is being dragged back by legacy systems, disconnected platforms, and chronic budget constraints. A new report from CX platform provider 8×8 and Cavell Group analysts has revealed that [...]
Natwest and Lloyds to rake in millions from a ring-fencing shakeup May 16, 2025 Natwest and Lloyds are set for a major cash bump if Chancellor Rachel Reeves rips up the ring-fencing regime imposed on lenders, fresh data shows. FTSE 100 banking giants have lobbied the Chancellor to axe the system, which they described as a “drag on banks”. The bosses of HSBC, Lloyds, Natwest and Santander slammed the [...]
‘Chagos chaos’ continues as deal is put ‘on hold’ May 16, 2025 The government has put the much-contested Chagos islands deal ‘on hold’ after outcry from Labour backbenchers. The deal would see sovereignty over the Chagos islands returned to Mauritius, but with the UK and US paying to continue military operations on the islands. The transfer is reported to cost the UK £9bn. While President Trump has [...]
Ofwat: Water regulator courts investors with refreshed PFI deals May 16, 2025 Ofwat is courting investors with plans to guarantee risk and minimise competition as it looks for more than £50bn to upgrade the water sector’s second-rate infrastructure. Private investors will have the “right to collect” revenue from customers, “opportunities for upside”, “capped liabilities” and “investment positive” support from the government, according to a briefing paper seen [...]
Natwest: Government set to sell stake in FTSE 100 giant by June May 16, 2025 The UK government is on track to sell its remaining stake in FTSE 100 lender Natwest as soon as next month after it accelerated the sell-down of its holdings. The Treasury’s share of the FTSE 100 lender is one of British banking’s longest-running sagas, dating back to the 2008 financial crisis. Natwest, then under the [...]
MPs demand changes to inheritance tax raid on farms May 16, 2025 Plans to levy inheritance tax on farmland threaten the future of British agriculture and should be paused while its ill effects are properly examined, an influential committee of MPs has said. In a damning report on the state of British farming, the Environment, Food and Rural Affairs (EFRA) Committee argued there was a “considerable risk” [...]
Starmer seeks UK-EU ‘reset’ – is another Brexit row looming? May 16, 2025 Ongoing talks between the UK and the EU will come to a head at a summit in London on Monday, as the government seeks a post-Brexit “reset” of relations. The talks have come about as part of a routine five year review of the UK-EU trade and cooperation agreement, though they have taken on new [...]
Don’t force pension funds to buy British, Aviva chief warns ministers May 15, 2025 British pension funds should not be forced to invest in UK assets, the boss of one of London’s biggest insurance firms has said, in a rebuke of the government’s pension reforms plans. The Treasury this week helped seal a voluntary, non-binding agreement by pension funds, dubbed the Mansion House Accord, will see increased investment into [...]
Starmer’s immigration plans dealt surprise blow by Albania May 15, 2025 Keir Starmer’s plans to “take back control” of immigration rules in the UK were dealt a fresh blow after Albania’s prime minister ruled out hosting failed asylum seekers, a proposal widely seen as acting as a deterrent to illegal migration. In a visit to the capital city Tirana, Starmer was told by Albania’s Edi Rama [...]