Bar boss quits Labour’s hospitality group after tax concerns August 23, 2025 A top boss of a British bar chain has quit a government hospitality taskforce after facing pressure over his criticism of Rachel Reeves’ tax agenda. Alex Reilley, the chairman of Loungers, has exited the Hospitality Sector Council (HSC) after receiving backlash from civil servants for publicly criticising Labour’s economic policies, The Telegraph reported. “I was [...]
UK gilt yields suffer from dwindling investor appetite August 22, 2025 UK gilt yields have gradually moved higher over August, as investor concerns over government borrowing costs and wider economic conditions continue. While daily movements have been small, the monthly performance shows a notable sharp spike in yields, with long-dated gilts in particular recording a steep increase. UK yields are now 1.5 per cent higher than [...]
UK banks carry out sweeping branch closures as customers go digital August 22, 2025 Some of the biggest traditional banks have shut more than one in three of their UK branches over the past five years as they turn away from the high street and dash to bulk up their digital offerings. Data from the Office of National Statistics (ONS) shows the number of bank, credit union and building [...]
HMRC set to crack down on pension tax relief August 22, 2025 HMRC is stepping up its scrutiny of pension tax relief claims from higher earners, as part of a broader effort to maximise revenue collection
Job postings fall in ‘summer slowdown’ August 22, 2025 Fewer jobs postings were made in July in signs that a “summer slowdown” will hit the UK economy and test Chancellor Rachel Reeves’ commitment to get more Brits into work. Data provided by the Recruitment and Employment Confederation (REC) and analytics company Lightcast has shown that there was a 9.2 per cent decrease in the number [...]
From CND to evangelist: Julia Pyke has nuclear ambitions for Sizewell C August 22, 2025 Julia Pyke has fended off judicial reviews and staunch local opposition, and waded through Britain’s unwieldy Treasury ‘Green Book’ process to get Sizewell C commissioned by the government. Now, she tells Ali Lyon, there’s just the small issue of building what will be the UK’s joint-largest power plant. It was in 1980s Lichfield – the [...]
New property tax will mean more over-65s living in family homes they don’t need August 21, 2025 More than half of Brits living in homes too big for them. We need incentives for over-65s to downsize, not punitive property taxes.
Week in Business: Will Reeves Launch a Massive Tax Raid on Property and Pensions? August 21, 2025 Christian May interrupts your holiday with grim news on another punishing round of tax hikes coming in the Autumn.
Services lead ‘fragile and uneven’ business activity rebound August 21, 2025 Business activity in the UK’s private sector enjoyed its strongest rebound in a year this month, but economists have cautioned the growth remains “fragile and uneven.” S&P’s Global flash UK composite purchasing managers’ index (PMI) reached 53.0 in August, up from 51.5 in July and marking the highest score in 12 months. Any score above [...]
Rachel Reeves’ stealth tax raid to slap extra £7,000 on high earners August 21, 2025 Rachel Reeves would force Britain’s high earners to face a mounting tax burden if she opts to extend the freeze on income tax thresholds in the autumn Budget. The Chancellor would slap an extra £7,000 in income tax on Brits earning over £100,000 if the freeze is maintained, analysis from wealth manager Rathbones reveals. An [...]