Tesco, Sainsbury’s and Greggs join forces to lobby Sunak to slash business rates May 3, 2022 Supermarket giants have reiterated calls for a cut in business rates as firms endeavour to keep prices competitive for shoppers amid rising inflation. Big names including Morrisons and Co-op have come together under a new Cut the Shops Tax campaign, organised by the Retail Jobs Alliance. In a joint letter to Chancellor Rishi Sunak, bosses [...]
Are you a liar, Prime Minister? No, I am an ‘honest’ politician and merely got partygate ‘wrong’, says Boris Johnson May 3, 2022 Prime Minister Boris Johnson this morning insisted he is an “honest” politician while he did admit to being “inadvertently” wrong in his comments to Parliament about the partygate row. Speaking to ITV’s Good Morning Britain today, the Prime Minister said that he should not resign over the partygate scandal because he is “getting on with [...]
Exclusive: Londoners absorb heaviest national insurance hike hit May 3, 2022 Londoners have suffered the worst blow to their finances in the UK in the first month the national insurance hike has been in effect, reveals exclusive research shared with City A.M. today. Workers in the capital have absorbed a near £300m blow to their budgets from higher national insurance bills, the biggest jump in the [...]
UK should follow in Chile’s footsteps with sustainability-linked bonds, says top think tank May 2, 2022 The UK should follow in Chile’s footsteps in issuing so-called ‘sustainability-linked’ bonds, which pay out more to investors should the government fail to meet its net zero targets, according to one of the country’s top think tanks. In a paper published today, the Social Market Foundation (SMF) has urged chancellor Rishi Sunak to haul in [...]
BP and Shell set to unveil massive profits and payouts amid growing calls for windfall tax May 2, 2022 Shareholders in BP and Shell are anticipating bumper payouts this week, amid mounting calls for a windfall tax.
Business secretary: Windfall tax not the answer May 1, 2022 Business Secretary Kwasi Kwarteng has voiced firm opposition to a windfall tax on oil and gas companies despite Chancellor Rishi Sunak raising the possibility. The Cabinet minister was adamant that it would be a “disincentive” to investment by energy giants despite his colleague in the Treasury using the threat to encourage spending, as their profits [...]
Windfall tax the backdrop for energy giants’ results May 1, 2022 London’s biggest oil companies will face an odd dilemma this week as they present what is likely to be their best set of results for years while facing calls to cough up more in tax. The businesses are predicted to report a combined 13 billion dollars (£10.5 billion) in profit from the first three months [...]
It would be ‘silly’ to provide households with more support before price cap update, says Rishi Sunak April 28, 2022 Chancellor Rishi Sunak plays down the prospect of immediate support for households despite mounting pressure on consumers.
UK fraud investigators serve notice on companies linked to mining magnate Sanjeev Gupta April 27, 2022 UK fraud investigators yesterday served notices at multiple addresses linked to mining magnate Sanjeev Gupta, just a day after French police raided Paris offices linked to the embattled steel tycoon. The UK’s Serious Fraud Office (SFO) yesterday issued Section 2 notices to trading addresses linked to the Gupta’s Liberty House Group of companies, requesting financial [...]
MPs say government was ‘complacent’ on Covid fraud in new report April 27, 2022 The government was “complacent in preventing fraud” against the Covid Bounce Back Loan Scheme and will lose almost £5bn to scammers, according to a Westminster committee. MPs on the Public Accounts Committee (PAC) said the £47bn loan scheme – which saw the government take on 100 per cent of default risk – was delivered at [...]