Rishi Sunak plans to raise taxes now and cut them before next election September 6, 2020 Rishi Sunak is reportedly planning to raise taxes in the autumn budget with a view to cutting them just in time for the next General Election. Sunak met with Boris Johnson last week to plan the government’s fiscal response to the debt wracked up during the coronavirus crisis, with tax rises set to hit the [...]
Rishi Sunak must walk a tightrope on his pitch of Tory economic competence September 4, 2020 Yesterday Rishi Sunak was photographed carrying a note with the text of his address to the 1922 Committee. This was something we lived in constant fear of when I worked in No.11. One day I forgot to put a folder round a note I was carrying on our 2018 Budget ‘rabbit’ and subsequently spent the next six [...]
Rishi Sunak: UK will not be hit by a ‘horror show of tax rises’ September 2, 2020 The UK will not be a hit by a “horror show of tax rises” to pay off the government’s coronavirus spending, according to chancellor Rishi Sunak. Sunak was photographed holding a paper of notes for his address to a group of Tory backbench MPs today, with the speech appearing to suggest the Treasury will not [...]
Rishi Sunak considers £30bn in post-Covid tax hikes August 30, 2020 Rishi Sunak is drawing up plans to implement £30bn in tax rises to plug the budget black hole left by the government’s coronavirus response. The measures reportedly under consideration include raising corporation tax and capital gains tax, breaking the pension triple lock guarantee and cutting foreign aid. The Sunday Times reports that this would include [...]
7 Reasons why spending with Crypto is broken August 18, 2020 Another week, another avalanche of announcements about companies offering payment gateway solutions to merchants so consumers can spend their crypto more easily. While this makes for decent clickbait headlines, if you peek under the hood even momentarily, you will quickly understand that none of this makes any financial or market sense. 1. Crypto is too [...]
Markets live: Wall Street falters and FTSE 100 sinks as US jobless claims fall August 13, 2020 Wall Street faltered and the FTSE 100 finished lower today as bullish sentiment faded and traders turned their attention to US jobless data. The blue-chip index closed down 1.30 per cent to 6,198 points, reversing gains earlier in the week that saw it smash through the 6,200 mark. Rally runs out The hesitant start marks [...]
Markets live: Wall Street bull run resumes as FTSE 100 pushes higher August 12, 2020 Wall Street continued its winning streak as markets opened this afternoon after the FTSE 100 shrugged off dour UK GDP data to push higher. The blue chip index closed up 2.20 per cent at 6,289 points, marking a three-week high. Traders shrug off recession It comes after official data showed UK GDP shrank 20.4 per [...]
Markets live: US stocks near record high on stimulus hopes as FTSE 100 soars August 11, 2020 The FTSE 100 jumped today as US stimulus hopes offset bleak new data that showed a surge in UK job losses during the coronavirus crisis. The blue-chip index was up 2.42 per cent at 6,197 points at midday, before closing up 1.71 per cent at 6,154 in a bullish day for western markets. The gains [...]
Starling Bank predicts 2020 profitability despite deepened losses August 6, 2020 Starling Bank has said it expects to break even by the end of this year and be profitable in 2021, despite more than doubling its losses in 2019. Chief executive Anne Boden told reporters the digital bank had benefited from participating in government schemes to provide business loans during the pandemic, gaining new loans on [...]
UK tax rises: How will Rishi Sunak pay down the coronavirus deficit? July 28, 2020 Rishi Sunak’s first five months as chancellor has seen him shower the UK economy with hundreds of billions of pounds, helping make him the most popular government figure. However, talk has already turned to the ballooning deficit – predicted to be around £350bn this year – and how to reduce it to more manageable levels. [...]