Zahawi says government still wants pre-election tax cuts November 20, 2022 The government still wants to cut taxes before the next General Election, Tory party chair Nadhim Zahawi has said. Zahawi said Jeremy Hunt “wouldn’t have a hope in hell” of cutting taxes before inflation dramatically reduces, but that the chancellor’s priority is to slash the tax burden once it has. Hunt moved to hike taxes [...]
Public finances in view after Hunt’s £55bn of spending cuts and tax hikes November 20, 2022 Traders will be keen to examine fresh public finances figures out this week to get a sense of the UK’s debt pile that pushed chancellor Jeremy Hunt into £55bn of spending cuts and tax hikes last week. London’s premier FTSE 100 index registered a solid performance last week, adding 0.92 per cent to close at [...]
Digital Assets Week: Conversations from the corriDAW November 18, 2022 Lord Holmes wraps up Digital Assets Week with some thoughts on the common themes from conversations in the corridors.
Brits have ‘just got a lot poorer’, warns IFS after Jeremy Hunt’s £55bn tax raid November 18, 2022 Brits have "just got a lot poorer" warned the IFS, following Jeremy Hunt's tax-grabbing autumn statement yesterday.
Exclusive: Brits ready to splash £300m in World Cup flutter November 18, 2022 BRITISH punters are set to splash over £300m during the Qatar World Cup, according to new data from gambling titan Flutter. As owner of Paddy Power, Sky Bet and Betfair UK, Flutter said the tournament would undoubtedly be the biggest betting event of the year – on track to surpass the 2018 World Cup figures, [...]
Market reaction to autumn statement a far cry from Truss and Kwarteng’s mini-budget November 17, 2022 Financial markets largely glossed over chancellor Jeremy Hunt’s £55bn worth of tax hikes and spending cuts today, a marked change from them spitting out his predecessor Kwasi Kwarteng’s mini-budget. London’s FTSE 100 closed broadly flat, edging 0.06 per cent lower, while the domestically-focused mid-cap FTSE 250 index bumped 0.05 per cent high. Most of the [...]
OBR: UK is already in recession and taxes on course for post World War II high November 17, 2022 The UK is already in a recession that will burn a huge hole in the public finances, forcing the government to hike taxes to their highest level since just after the Second World War in the 1940s, the country’s fiscal watchdog warned today in forecasts published alongside Jeremy Hunt’s autumn statement. The Office for Budget [...]
GPE injects £1.1bn into ‘starved’ London office market despite sinking values November 17, 2022 GPE, formerly known as Great Portland Estates, is continuing to inject £1.1bn into feeding a “starved” central London office market despite blows from rising interest rates. The London-listed firm, which yesterday secured a record leasing of the City’s 2 Aldermanbury Square to Clifford Chance, is one of the largest office leasers in the capital. However, [...]
As it happened and live reaction: Jeremy Hunt’s Autumn Budget 2022: UK is now in recession November 17, 2022 Welcome to City A.M.’s live updates as the Chancellor of the Exchequer, Jeremy Hunt, delivers the government’s Autumn Budget for 2022. Here the news team will bring you all the key points, policy changes, opinion, analysis, responses from experts, industry reaction and more. Get in touch and let us know your views via news@cityam.com or [...]
All eyes on UK Autumn Budget as Sunak’s government goes Hunt-ing for cash November 17, 2022 Markets’ main focus today will be on Westminster and Chancellor of the Exchequer Jeremy Hunt as he delivers the long-anticipated Autumn Statement. Over the past few weeks, Brits heard an array of estimates of the size of the fiscal black hole at the heart of the public finances, ranging from £40bn to £55bn. “However, this [...]