Rachel Reeves mulls bank tax amid scramble to fill fiscal hole October 6, 2025 Rachel Reeves is reported to be weighing up a tax on Britain’s banking giants as the Treasury looks to strum up cash in the forthcoming Autumn Budget. The Chancellor is expected to be staring down a fiscal blackhole of over £20bn come November 26 and banks have been viewed as an easy – and politically [...]
FTSE 100 Live: Shawbrook confirms IPO; Aston Martin hit by tariffs October 6, 2025 Good morning from the City AM liveblog team. After a worryingly-long drought, the London IPO market roared back to life this morning following a shot in the arm last week. Shawbrook has kicked off the week putting the City on the front foot after confirming intentions of a float. It’s a major boost, one that [...]
Tories commit to £47bn savings package to ‘restore public finances’ October 6, 2025 The Tories have committed to making £47bn in savings across the welfare state and Whitehall to “ensure the country lives within our means”, in a radical pledge that aims to restore the beleaguered party’s reputation for fiscal responsibility. In a speech to Tory party members in Manchester on Monday, Shadow Chancellor Mel Stride will claim [...]
Capital gains tax raid should have ‘health warning’, Labour warned October 6, 2025 Labour risks stunting growth and discouraging investment if it pursues further capital gains hikes, tax advisers have warned, as reforms proposed by top think tanks were pushed back on by industry figures. Rachel Reeves and Keir Starmer have talked up the prospects of attracting investment in the UK and making the wider tax system fairer [...]
Ed Miliband’s Green New Deal won’t deliver 400,000 ‘new’ jobs October 6, 2025 The language of "job creation" is seductive, but Ed Miliband's promise to create 400,000 'new' green jobs is deceiving, writes Matthew Bowles.
Home Secretary denies ministerial interference amid dropped Chinese spy case October 5, 2025 Home Secretary, Shabana Mahmood, said she was “very disappointed” about the collapse of a major Chinese spying case but denied there was any ministerial interference. The case against Christoper Cash, a former parliamentary researcher, and Christopher Berry, was due to start at Woolwich crown count on Monday, but was dropped on 15 September, a move [...]
Kemi Badenoch: My approach will “pay off eventually” October 5, 2025 Conservative leader, Kemi Badenoch, has insisted her approach to changing the struggling party will “pay off eventually” as she battles dwindling voter support. In an interview with BBC’s Laura Kuenssberg, Badenoch stressed that she would not “rush out” new policies and instead take the time needed to “get it right”. She acknowledged that the Conservative [...]
Jaguar Land Rover to bailout suppliers after state ‘rescue’ stalls October 5, 2025 Jaguar Land Rover is finalising a deal to lend its suppliers millions of pounds as the tax-payer backed rescue of the carmaker hit a wall. Bosses are putting the final touches to a sweeping lifeline that would see up to £500m be injected into its supply chain, which is at a standstill. The privately funded [...]
Former Home Secretary backs Phillipson for Labour deputy leader October 5, 2025 Former home secretary, Alan Johnson, has endorsed education secretary, Bridget Phillipson, to become Labour’s next deputy leader, after warning that Powell could be divisive. Johnson suggested Phillipson’s rival, Lucy Powell, may not have entered the race had she not been sacked from the cabinet in last month’s major reshuffle, before warning she could “destabilise the [...]
Tories pledge creation of US-style deportations force October 5, 2025 The Tories will pledge to create a new “Removals Force” tasked with deporting 150,000 people a year as part of plans to end irregular migration into the UK. Tory plans announced on Sunday would see the Removals Force given £1.6 billion and “sweeping new powers” including the use of facial recognition without warning to spot [...]