Labour cheered 1p off a pint but the Budget leaves a vicious hangover November 6, 2024 As Rachel Reeves delivered her Budget one week ago, the loudest cheer on the government benches came when she declared that her policies will take 1p off the cost of a pint. Labour was so pleased with this bit of good news that the claim dominated their post-match social media output. This self-congratulatory victory lap [...]
Autumn Budget 2024: Reeves increases taxes on private equity profit October 30, 2024 The Chancellor Rachel Reeves confirmed she would raise taxes on the profit made by private equity dealmakers today but stepped back from the full-scale raid feared by some corners of the industry. In her maiden Budget, Reeves said the government would lift the levy to 32 per cent from April next year, up from the [...]
Convenience stores issued £634m warning ahead of Budget October 29, 2024 A lobby group has warned convenience stores could be set for a huge bill next year as tax hikes are expected to be included in the Autumn Budget. The Association of Convenience Stores has said the sector will face a potential bill of £634m due to wage increases, plus changes to National Insurance contributions and [...]
A Budget for stability must mean less is more October 27, 2024 As it prepares for its first Budget, it’s critical the government considers something important but quite dull: practicality If you’d attended the government’s International Investment Summit last week and your bingo card had the words ‘regulation’, ‘stability’ and ‘growth’ on it, you’d have been over the moon. Yes, both the Prime Minister and Chancellor were [...]
Bullying and harassment cases rise at City firms, FCA finds October 25, 2024 There has been a sharp rise in non-financial misconduct at firms, according to a survey by the City regulator, but strikingly, the data revealed these companies took no action in more than half of investigations.
What are the biggest risks to pension saving in the Autumn Budget? October 22, 2024 Reeves faces difficult decisions at next week's Budget, but tampering risks creating more problems in the long-term, writes KPMG's Stephen Collins.
Admiral and Direct Line shares sink as Labour takes aim at ‘spiralling’ car insurance costs October 16, 2024 Shares in insurers Admiral and Direct Line slumped on Wednesday after the government unveiled a new taskforce that it said would tackle the "spiralling" cost of motor insurance.
FCA to review UK premium finance market amid price hike concerns October 16, 2024 The UK's financial regulator is to review Britain's premium finance market amid worries that consumers who borrow to pay for insurance may not be getting fair or competitive deals.
How private equity swallowed up the UK – and why it’s unsettling regulators September 30, 2024 Private equity has been buying more and more of the UK over the past decade, with thousands of listed or private businesses now snapped up by buyout funds and venture capital investors. Iconic British businesses like Morrisons, Pret A Manger and Asda have been swallowed up by private capital, with deals like the takeover of [...]
Industry crackdown as insurance scams surge September 26, 2024 The UK insurance industry identified £1.1bn worth of fraudulent claims last year, highlighting the importance of focusing on tackling bogus insurance claims.