Burnham ally Jim O’Neill: Debt costs are ‘increasingly crazy’ and triple lock must go Economics The cost to taxpayers of paying off the interest on UK government debt is “increasingly crazy”, according to a top economist who advised Andy Burnham. Lord Jim O’Neill, the former Goldman Sachs executive who advised Burnham in his run-up to Downing Street, told LBC that debit interest payments far outweighing the defence budget were “increasingly [...]
Reform-linked think tank calls for sweeping City deregulation and tax cuts Politics A Reform UK-linked think tank has called for sweeping tax cuts for investors and an overhaul of regulation in a report that was described by Richard Tice and Robert Jenrick as a “serious contribution” to the UK’s growth debate. The Centre for a Better Britain has called for the abolition of capital gains taxes and [...]
Burnham urged to launch £26bn tax raid on high earners Economics Chancellor John Healey and Prime Minister Andy Burnhm could raise £26bn by hiking capital gains taxes and applying national insurance to other areas of income, according to plan put forward by academics that will rattle the City and Westminster ahead of this year’s Budget. Researchers at the Centre for Analysis of Taxation (Centax), consisting of [...]
Burnham adviser slams ‘growth in every postcode’ pledge September 22, 2026 Andy Burnham’s pledge to deliver “growth in every postcode” will result in “wasted taxpayer money and create political problems”, according to one the PM’s most valued economic advisers. Jim O’Neill, who was tipped to take an official role in Burnham’s government, said the Prime Minister should focus on getting gilt yields to fall by 150 [...]
Will our fiscal psychodrama never end? September 22, 2026 I’m sure it wasn’t always like this. There was a time, really not that long ago in the grand scheme of things, when trying to predict the contents of an upcoming Budget was limited to dedicated policy wonks and Westminster’s most dogged journalists. These days, fiscal speculation is a major occupation for several months of [...]
As it happened: US stocks make gains ahead of Trump-Xi summit September 21, 2026 Welcome back to City AM’s FTSE 100 liveblog. The UK’s blue-chip index made gains on Monday morning, turning a corner from heavy losses on Friday. Miners and industrial stocks like Anglo American, Antofagasta and Metlen Energy and Metals were among the FTSE 100’s biggest risers on Monday morning. BP and Shell dragged on the index, [...]
Mark my words: tax rises are coming September 18, 2026 After Rachel Reeves’ tax raids of over £40bn in her 2024 Budget and £26bn in the 2025 edition, it should be inconceivable that John Healey will come back for more. Yet all the sights point in that direction, says Emma Revell No City AM reader could be unaware that Britain’s current economic outlook is not [...]
WH Smith warns on profit again as discounting hits margins September 16, 2026 WH Smith has cut its profit target again after warning that intense discounting and “inflation headwinds” are hitting its bottom line. The convenience retailer had initially told investors it could make as much as £105m in pre-tax profit this year, before slashing the target to between £75m and £90m. On Wednesday, the group reduced its [...]
London is expensive enough for tourists September 15, 2026 An overnight levy on top of the removal of VAT-free shopping is making London too expensive for tourists, writes Ros Morgan.
City policy chair: new taxes on financial services would threaten our prosperity September 14, 2026 The City stands ready to help the Chancellor deliver good growth in every postcode at the Budget, says Chris Hayward Recent years have been challenging for people, policymakers and industry leaders alike. Conflicts have been compounded by subsequent, successive economic shocks; damaging supply chains and leaving less well-prepared boardrooms bewildered. Globally, public finances are under [...]