UK economy downgraded on consumer spending worries October 24, 2024 The Big Four firm predicted that the UK would grow 0.9 per cent this year, down from the 1.1 per cent expansion it projected this summer.
British athletes issue stark warning to government over funding October 23, 2024 British sport could lose hundreds of elite athletes before the LA 2028 Olympics and Paralympics unless the Government increases funding for the next four-year cycle. The stark warning comes after 85 per cent of funded athletes in a new survey said they would not or might not continue competing if forced to make do with [...]
Budget borrowing will slow Bank of England rate cuts, economists warn October 23, 2024 Chancellor Rachel Reeves is hoping to raise £40bn in next week's Budget to help fund higher spending on public services. This will largely come through higher taxes.
Heathrow Airport: Passengers reach record high on summer boom October 23, 2024 Heathrow Airport smashed through its record-breaking 30m passenger target over the summer. It welcomed 30.7m between June and September, a record for the group. The figures brought the total number of passengers over the first nine months of the year to 63.1m, compared to 59.4m in 2023 – a record. The busiest day(s) in the [...]
Autumn Budget: The growth case for hiking capital gains tax October 23, 2024 We don't know exactly what form the changes will take and we don't know how much the Chancellor expects to raise, but reforms are coming.
The walls are closing in on the Chancellor October 23, 2024 With just one week to go until the Budget (arguably one of the most consequential in recent memory) economists, investors, analysts (and most certainly journalists) are scouring everything from tea leaves to official data for indications of what exactly the Chancellor is going to say next Wednesday. Most people agree that her choices are limited [...]
This Budget looks set to be more car park than roadmap October 23, 2024 You have probably read at least two dozen columns speculating on where those tax rises of doom are going to land in next week’s budget, so I’m not sure there is much more to say on the big topics of contention. We’ll find out soon enough whether employers’ National insurance (NI) really will go up, [...]
Andrew Bailey: Regulators must not be complacent on shadow banking threat October 22, 2024 Andrew Bailey, Governor of the Bank of England, warned regulators need more tools to deal with threats to financial stability today as he sounded the alarm on the “opaque” nature of the ‘shadow banking’ sector. In a speech at Bloomberg’s Global Regulatory Forum in New York, Bailey drew attention to the systemic risks posed by [...]
UK economy receives hefty growth upgrade from IMF October 22, 2024 The international fiscal watchdog now expects the UK to grow 1.1 per cent in 2024, up from a previous forecast of 0.7 per cent.
Autumn Budget: Which taxes will Rachel Reeves hike? October 22, 2024 With the Autumn Budget set to be delivered in just a few days, speculation about which taxes Chancellor Rachel Reeves will opt to raise has reached fever pitch. On entering No 11 Downing Street, Reeves commissioned the Treasury to conduct a thorough spending audit, which she claimed unearthed a “fiscal black hole” of £22bn, paving [...]