Tech and talent at risk as Reeves eyes tax hikes in November budget October 7, 2025 Britain’s tech sector is bracing for impact as fears grow that Labour’s upcoming Budget could drive investors, and their capital, out of the country. Brent Hoberman, co-founder of Lastminute.com and a prominent supporter of UK start-ups through Founders Forum and Firstminute Capital, warned that venture capital (VC) funds are actively considering relocation to Europe if [...]
Ed Davey claims Farage will make UK ‘Trump’s America’ September 23, 2025 Ed Davey told Lib Dem members that Nigel Farage would make the UK “Trump’s America” if he were elected prime minister, with claims that Reform would destroy the NHS and roll back gun laws among the main messages made by the Liberal Dem’s leader in his conference speech. Speaking to the party faithful in Bournemouth, [...]
French bosses round on ‘deadly’ wealth tax plans September 23, 2025 Some of France’s most high-profile entrepreneurs have rounded on a wealth tax proposal being touted by a party key to the flailing government’s fortune, warning it would risk “destroying the French economy” and sparking an exodus of the country’s wealthiest residents. Bernard Arnault, the billionaire chief executive of luxury behemoth LVMH and France’s richest man, [...]
Race for Labour deputy reignites wealth tax debate September 9, 2025 Labour’s Islington South and Finsbury MP Emily Thornberry has thrown her hat in the ring for Labour deputy leader and proposed a new wealth tax as part of her campaign, prompting Chancellor Rachel Reeves to strike down calls by ruling out its introduction. Thornberry, the former shadow foreign secretary under Jeremy Corbyn’s leadership who now [...]
Stephen Kinnock quizzed on his dad’s calls to ditch two-child benefit cap August 18, 2025 Stephen Kinnock said that discussions in government around scrapping the two-child benefit cap are “ongoing”, when asked about his father Lord Kinnock’s calls to ditch the policy. In an interview with BBC Breakfast, the health minister said: “Decisions about the Budget, decisions like that have major financial implications, they are a matter for the Chancellor.” [...]
Jonathan Reynolds slams wealth tax as ‘daft’ in broadside against Labour left July 25, 2025 Jonathan Reynolds has dismissed the prospect of a wealth tax as “daft”, amidst repeated warnings from the City that the policy would damage the UK economy. In a podcast interview with GB News, the business secretary told those on the left of the Labour party: “Get serious!” Reynolds insisted that much of Labour policy already [...]
Costly departures: Why an exit tax looks more likely than a wealth tax July 22, 2025 Tax experts have been queuing up to warn that a blanket tax on wealth is both unlikely and unfeasible. But as ministers insist the government will avoid tax hikes targeting average earners, could it turn to an exit tax to plug the gap? As reams of impressed tourists shuffled their way through the opulent surroundings [...]
HMRC doesn’t know how many billionaires are in Britain July 16, 2025 HMRC does not know how many billionaires pay tax in the UK or how much they contribute, a group of MPs have warned, despite the outsized share of tax revenues they contribute, piling yet more scrutiny on the feasibility of a blanket wealth tax. In a report examining how to tax wealthy individuals, the Public [...]
Tax debate goes from comedy to tragedy July 15, 2025 When I suggested recently that we were going to experience déjà vu, with another summer of endless tax rise speculation, I didn’t imagine the experience would be quite so profound. And yet, having already enjoyed the spectacle last year of Labour MPs trying to define “working people” they’re now treating us to a rerun of [...]
Wealth tax would take years to set up, Labour warned July 14, 2025 The introduction of a wealth tax would take years to set up as well as substantial investment in “additional personnel” and tools to track assets, a leading City bank has warned. Cabinet ministers including Keir Starmer have refused to rule out a wealth tax in the last week, with the government preparing for a revenue-raising [...]