Bank of England: Markets need to be prepared for ‘severe but plausible stresses’ October 2, 2024 Officials at the Bank said that the “significant but short-lived spike in volatility and falls in equity indices” seen in early August demonstrated the risks facing global markets.
LNER: Strikes and storms cost train line over £50m October 2, 2024 The impact of a series of severe storms and continued strike action cost London North Eastern Railway (LNER) more than £50m during its latest financial year, it has been revealed. The train operator said industrial action in the year to 31 March, 2024, reduced its revenue by £25.9m while extreme weather also impacted its revenue [...]
Starmer to hold talks with EU to patch up post-Brexit relationship October 1, 2024 Prime Minister Keir Starmer is set to hold talks with EU leaders in Brussels this week as he looks to improve Britain’s relationship with the bloc. Starmer, who is keen to move past Brexit, will discuss plans for the coming months with European Commission President Ursula von der Leyen, European Council President Charles Michel and [...]
Is Rachel Reeves planning a £24bn pension tax raid? October 1, 2024 It has been reported that the Treasury is considering what could amount to a £24bn pension tax raid as Rachel Reeves tries to plug her £22bn budget black hole. The Chancellor has reportedly been looking at tax relief on pension contributions, specifically, employers’ national insurance relief. There are two forms of national insurance. Employees, paid [...]
Business confidence takes ‘large dive’ in September as budget fears intensify October 1, 2024 Optimism in the economic outlook fell to its lowest level since 2022.
Tory conference: Hunt warns Labour against ‘catastrophic’ Budget tax hikes September 30, 2024 Jeremy Hunt has warned Labour against making “catastrophic mistakes” in the Budget and hiking up “tax in a way that destroys growth”. The shadow Chancellor issued a stark warning to the government as he spoke at the annual Conservative Party conference in Birmingham. Asked at an in-conversation event on Monday, if things could get worse, [...]
Senior minister ‘disappointed but not surprised’ at Duffield resignation September 29, 2024 A senior cabinet minister has said he is “disappointed” but “not surprised” at Rosie Duffield’s resignation from the Labour Party. The Canterbury MP’s decision to resign and sit as an independent had been coming “for quite a long time”, Pat McFadden told the BBC’s Sunday with Laura Kuenssberg show. Duffield announced she was resigning the [...]
Unions vote to condemn government’s winter fuel payments cuts September 25, 2024 Unions have voted to condemn the government’s decision to means test pensioners’ winter fuel payments, in a blow to No10 as the Labour conference came to a close. A non-binding motion brought by Unite and the Communication Workers Union (CWU) was backed by delegates in a vote on Wednesday morning in the main hall in [...]
Sick Brits to be helped back to work by ‘crack teams’ of doctors, Streeting says September 25, 2024 Sick Brits are set to be helped “back to health and back to work” by “crack teams of top clinicians”, Wes Streeting has announced in a bid to tackle rising economic inactivity. The health secretary today pledged reforms created by surgeons would be rolled out in hospitals across the UK “to treat more patients and [...]
Which taxes will Labour hike in the October Budget? September 25, 2024 Kier Starmer has said that those with the "broadest shoulders should bear the heavier burden". So where will Starmer and Reeves turn to raise some extra cash?