Hiking VAT would have ‘serious negative impact’, economists warn Reeves October 10, 2025 A hike to VAT would “have a serious negative impact” on the UK, leading economists have warned, as the chancellor weighs which taxes to put up at next month’s Budget to plug a £30bn shortfall. An increase in the sales levy would have the biggest negative impact of any major tax rise, leading to a [...]
Treasury accused of blocking China audit after espionage trial fiasco October 10, 2025 The Treasury lobbied Prime Minister Keir Starmer’s national security adviser, Jonathan Powell, to block reports on the threat posed by Beijing in the midst of the probe against the two men accused of spying for China. According to The Telegraph, in June, Powell decided the UK government would not publish details about espionage from the Foreign Office’s [...]
Tax fears heat up as firms ‘not ready for another Budget battering’ October 10, 2025 Tax fears across businesses in the UK are bubbling up, a leading survey has indicated, as Chancellor Rachel Reeves is warned that firms are “not ready for another Budget battering” later this year. The British Chambers of Commerce (BCC)’s survey has shown that business confidence remains in a fragile state amid nerves that another damaging [...]
Former top security adviser questions Starmer over China trial collapse October 9, 2025 Former national security adviser Lord Sedwill has raised questions over the explanation provided for the collapse of the Chinese spy case involving Christopher Cash and Christopher Berry. Lord Mark Sedwill, a career diplomat and civil servant who served the same role as current national security adviser Jonathan Powell between 2017 and 2020, claimed it was [...]
How Reeves could ‘trigger’ bond market fright and collapse UK economy October 9, 2025 Poor decisions made by Rachel Reeves at the next Budget could send the UK economy into a crisis if her announcements trigger a collapse in bond markets’ confidence, according to a scenario played out by analysts at Oxford Economics. Rachel Reeves has pledged to drive growth in the UK and lower the cost of living [...]
What will Rachel Reeves’ budget pay for and where will the money come from? October 9, 2025 Rachel Reeves’ November budget is fast approaching, and steep tax rises are once again on the cards. Speaking at Labour conference last month, the Chancellor hinted at tax hikes by warning that she will be forced into “harder choices” by “harsh global headwinds”. To balance the books in accordance with her much-discussed fiscal rules, Reeves [...]
Close Brothers shares plunge on new ‘material’ motor finance hit October 9, 2025 Shares in FTSE 250 lender Close Brothers sank on Thursday after the firm said it expects to increase its provisions for the motor finance scandal. The bank – which has a £9.5bn loan book with over 20 per cent car finance loans – sunk nearly ten per cent to 472.60p. It follows the Financial Conduct [...]
China spying scandal: What the hell is going on? October 9, 2025 The head of MI5 warns that Chinese spying in the UK is taking place on “an epic scale” – yet the government can’t bring itself to describe China as a threat. What the hell is going on? Sir Ken McCallum, the Director General of MI5, doesn’t make many speeches in public. As one of Britain’s [...]
Labour ministers ordered to stop relying on emergency funds October 9, 2025 Labour ministers have been told they will be blocked from using the government’s reserve funds to pay public sector staff and will only be given cash in exceptional circumstances. James Murray, the chief secretary to the Treasury, has told colleagues across the Cabinet that access to rainy day funds will be limited as the government [...]
Keir Starmer vows to cut red tape for pubs to ‘bring the buzz back’ to high streets October 9, 2025 Keir Starmer has vowed to cut red tape for pubs in a bid to revitalise the ailing hospitality industry following a spate of venue closures. The prime minister has unveiled a four-week “blitz” survey of landlords, customers and neighbours, in a review expected to result in a bonfire of old licensing rules, amid fears some [...]