UK economy contracts 0.1 per cent in blow to Rachel Reeves July 11, 2025 Rachel Reeves’ waning growth agenda has been dealt another blow after the UK economy contracted 0.1 per cent in May. The Chancellor has endured a bruising few weeks after government U-turns and spending splurges have cut into the fiscal headroom she outlined in the Autumn. Fresh figures from the Office for National Statistics have confirmed [...]
Third sector warns wealth tax will hit philanthropy July 11, 2025 A wealth tax of the sort reportedly being considered by the government would leave a multibillion-pound hole in charities’ finances and jeopardise the work they are able to carry out, third sector bosses and economists have warned. According to John Canady, chief executive of the National Philanthropic Trust UK, the rumoured levy targeted at households [...]
Week in Business: The tragedy of Labour’s tax addiction July 10, 2025 From the housing market to the stock exchange, some taxes need to be reformed or reduced - but this government only wants to hike rates.
Labour’s tax addiction will end in tears July 10, 2025 It is now pretty much universally accepted that the government will launch a fresh tax raid in October’s budget. City economists expect the Treasury to be on the hunt for between £10bn and £20bn of additional revenue, though given the expensive u-turns on winter fuel payments and welfare reform combined with likely lower growth forecasts [...]
I sold my business for £1.5bn – with great wealth comes great responsibility July 10, 2025 Those of us fortunate enough to thrive at the top must do more to support those struggling at the bottom, not out of guilt or obligation, but because it is the right thing to do and makes us richer in meaning, purpose and legacy, says John Caudwell This week I had the honour of speaking [...]
UK loses more billionaires than any other country July 9, 2025 The UK has lost the most billionaires of any country in the world in the last two years, fresh data has shown, exacerbating fears that Britain’s footloose super-rich residents would continue to flee the country if forced to pay a wealth tax. According to updated numbers from New World Wealth, the UK lost a quarter [...]
Tax, tax and more tax. Does Rachel Reeves not know there’s another way? July 9, 2025 Wealth taxes, pension raids, inheritance tax, does Labour really not know there's another option, asks John O'Connell.
Wealth tax: City bosses warn Labour of entrepreneur exodus July 8, 2025 A wealth tax would spark a fresh exodus of entrepreneurs from the UK, according to City grandees as calls mount from within Labour to explore the policy. Sir Martin Sorrell, Sir Rocco Forte and Sir Philip Hampton warned in The Telegraph that business owners could flee Britain en masse. Hotelier Sir Rocco said: “Labour has [...]
I’m one of Britain’s highest taxpayers – a wealth tax would be the last straw July 8, 2025 Many patriotic high taxpayers like Steve Rigby accept that they work 50 per cent of their time for the government. A punitive wealth tax raiding assets that have already been taxed multiple times risks upending the social contract and driving businesses and jobs away The drumbeat for a wealth tax grows louder by the day, [...]
Stephen Kinnock says Reeves looking ‘very carefully’ at wealth tax July 8, 2025 Health minister Stephen Kinnock has given the strongest hint yet that a wealth tax might be on the agenda for the government after his father – the former Labour leader Lord Kinnock – intervened to push for the policy over the weekend. The junior Kinnock told LBC’s Shelagh Fogarty that the government has “already taken [...]