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 [...]
City veteran Lord Rose ‘horrified’ by slow growth under Labour May 15, 2025 Former M&S boss and current Asda co-chief executive Stuart Rose has hit out at Labour’s lack of strategy aimed at boosting the economy, claiming he has been “horrified” by the UK’s lacklustre performance despite Chancellor Reeves’ pledges to deliver growth at a “faster” pace. Reeves said her £40bn tax raid at last year’s autumn budget [...]
Tax cost hikes and digital red tape could push landlords to sell up May 15, 2025 Buy to let landlords are set to face fresh tax hurdles that could lead to a squeeze in supply for the rental sector, according to new research. The advisory firm Blick Rothenberg found that the government’s Making Tax Digital (MTD) scheme would add to the costs and administrative burdens of letting properties to tenants. The [...]
Week in Business: Small glass of champagne for Reeves? May 15, 2025 There was some welcome economic growth in Q1 but it's in the rear view mirror; is there any on the horizon?
CMA handed ‘strategic steer’ as government pushes pro-growth agenda May 15, 2025 The UK’s competition watchdog has been handed a “strategic steer” from Downing Street as the government pushes regulators to adopt its pro-growth agenda. The strategic steer, which is issued to regulators each parliament, sets out the government’s priorities for regulators and how they engage with the private sector. According to the Treasury, the steer “resets [...]
Boost for Rachel Reeves as UK economy booms in first quarter May 15, 2025 The UK economy surged by 0.7 per cent in the first three months of the year, official data has shown, suggesting firms boosted production ahead of Rachel Reeves’s tax rises in April and the threat of President Donald Trump’s tariffs. Fresh data provided by the Office for National Statistics showed that the UK economy grew [...]
London Cypriots to get visit from President in ‘brain gain’ push May 15, 2025 The President of Cyprus will visit Cypriot citizens based in London next week offering them generous tax incentives to return home. The relocation push – dubbed the ‘Brain Gain’ – is backed up with pledges of help with education, housing and free healthcare to lure skilled workers among Britain’s 300,000-strong diaspora back to their home [...]
China could gatecrash Starmer’s diplomatic party May 15, 2025 Keir Starmer has repeatedly said that the UK doesn’t need to choose between strengthening economic and trade ties with the US and deepening them with the EU. A few weeks ago, concern was growing in Whitehall that if the UK didn’t strike a deal with America then the chance of a tariff rapprochement could be [...]
Labour’s National Wealth Fund hounded with calls for clarity May 15, 2025 Labour’s National Wealth Fund (NWF) faced renewed pressure on Wednesday as the Treasury Committee kicked off its inquiry into the new body. The NWF’s ability to boost economic growth across the country was the subject of questions posed by MPs to investment industry leaders. Its status as a “wealth fund” came under fire against comparisons [...]