NHS will ‘swallow’ additional funds raised by tax hikes, warns IFS September 8, 2021 A leading economic think tank has warned Boris Johnson’s decision to hike national insurance and dividend tax will not raise enough funds to tackle England’s social care crisis. The Institute for Fiscal Studies has warned the 40 year trend of the NHS breaching its budget will lead to the additional money raised by the tax [...]
Dividend tax grab threatens City’s reputation as a good place to do business September 8, 2021 Boris Johnson’s £600m dividend tax raid could deter investors, dampen entrepreneurial activity and damage the City of London’s reputation as a good place to do business, experts have warned. The government launched a tax assault yesterday in a bid to raise money to pay for clearing the swelling backlog of NHS work and to fix [...]
European banks nowhere near ready for ECB climate stress test September 8, 2021 European banks are nowhere near ready for the looming European Central Bank climate stress test, according to new figures. A survey of 20 major European banks shows there is universal agreement among lenders that they are not prepared for the ECB’s climate stress test. The ECB has voiced its concern over European banks’ lack of [...]
Brits born into wealthy families twice as likely to become high earners September 8, 2021 Brits born into wealthy families are at least twice as likely to take home high pay packets compared to people born into poorer families, according to fresh figures released today. Research conducted by the think tank, Institute for Fiscal Studies, shows one in five Brits with parents in the wealthiest fifth of the population earn [...]
Tax hikes pull London markets down September 7, 2021 Sliding financial stocks pulled London markets down today after prime minister Boris Johnson announced a hike to dividend taxes and national insurance. The capital’s premier index fell, the FTSE 100, slipped 0.48 per cent to 7,152.75 points, while the mid-cap FTSE 250 had 0.62 per cent shaved off its value to fall to 24,097.48 points. [...]
IFS: Tax hikes not enough to fix broken social care system September 7, 2021 A leading economic think tank has warned hikes to national insurance and dividend taxes announced by prime minister Boris Johnson today will not be enough to tackle chronic problems in the UK’s social care system. The Institute for Fiscal Studies warned the increase in funding for social care will fall short of reversing deep cuts [...]
PM hikes National Insurance and dividends tax by 1.25 per cent to pay for NHS and social care reform September 7, 2021 Britons will be hit with £12bn-a-year tax rises to pay for increases in NHS and social care spending, with National Insurance and dividends tax in Boris Johnson’s crosshairs. A new Health and Social Care Levy will effectively hike National Insurance Contributions for employees and employers by 1.25 per cent from April 2022, while taxes on [...]
Brokers and investment platforms plummet on dividend tax hike September 7, 2021 Shares in investment platforms and brokers plummeted today after prime minister Boris Johnson announced a hike to dividend taxes. Broker, TP Icap, had 9.14 per cent shaved off its share price, plummeting to 179.04p from a day high of 196.60p. Investment platforms AJ Bell and Hargreaves Lansdown both suffered heavy losses, down 2.07 per cent [...]
Government breaches another manifesto pledge by denying full triple lock uplift September 7, 2021 The government has breached another manifesto pledge and scrapped the normal functioning of the state pension triple lock, it announced today. In a statement delivered to the House of Commons today, secretary of state for work and pensions Thérèse Coffey announced the government will employ a triple lock lite, denying millions of pensioners an uplift [...]
UK M&A deals dip 31 per cent over last quarter September 7, 2021 The number of mergers and acquisitions involving UK companies dipped over the last quarter, according to official figures released today. Data from the Office for National Statistics shows the volume of M&A deals involving UK firms fell 31 per cent over the last quarter, dipping to 381 in the second quarter from 556 in the [...]