These two mistakes are making today’s Budget harder than it needs to be October 30, 2024 The problem with Rachel Reeves promising both ‘stability’ and ‘growth’ is that the two can be mutually exclusive. Governments do not create growth; businesses do and they rely on innovation and risk taking, says Alys Denby Not since George Osborne’s ‘caesar’ cut has a Chancellor’s hair-do caused such a sensation. Did Rachel Reeves’ newly auburn [...]
Sir Martin Sorrell: Tax hikes risk hurting UK productivity October 29, 2024 The government’s potential tax hikes and changes to investment relief could drive capital abroad, discourage hiring and stymie productivity, former WPP chief Sir Martin Sorrell has warned ahead of tomorrow’s Autumn Statement.
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 [...]
Competition intensifies in Saudi’s surging insurance industry October 29, 2024 In recent years, Saudi Arabia has been building an insurance industry from scratch. In the process, the country has generated home-grown companies and attracted international giants such as Bupa to help cater to rising demand. So far, the expansion of insurance in the Kingdom has been dizzying. According to Saudi Arabia’s central bank (SAMA), in [...]
Autumn Budget 2024: Minimum wage set for above inflation hike October 29, 2024 Firms could be set to face higher payroll costs as the minimum wage is reportedly set to increase by more than six per cent at Wednesday’s Budget. Chancellor Rachel Reeves is expected to announce an above inflation raise that is higher than was predicted last month, according to the Times newspaper. It will result in [...]
London jobs market hit hard due to ‘frenzy of Budget speculation’ October 29, 2024 Muniya Barua, deputy chief executive at BusinessLDN, said that the "frenzy of Budget speculation" was weighing on employers' hiring intentions.
How retail investors are bracing for a Rachel Reeves tax raid October 29, 2024 Fear among retail investors is building in the face of this week’s Budget, with Chancellor Rachel Reeves’ rumoured changes to capital gains tax and inheritance tax hanging over the heads of individual stockpickers. While capital gains tax currently sits at 20 per cent, speculation has spread that it could be hiked when the government lays [...]
HSBC chief Elhedery says no plans for Asia spin-off in global revamp October 29, 2024 HSBC’s new chief executive has insisted his redrawing of the bank’s operations between East and West is not a precursor to the kind of break-up demanded by one of its biggest shareholders last year. Speaking after HSBC’s third-quarter results on Tuesday, Georges Elhedery said the main reason for his overhaul “is to make us a [...]
Tech boss warns UK to avoid own goal in Autumn Budget October 29, 2024 The founder and chief executive of a British artificial intelligence (AI) unicorn has urged the government to prioritise innovation in this week’s Budget, warning against policies that could hinder growth for UK tech firms. “I will be watching with huge focus when the Budget is delivered,” Vishal Marria told City AM, adding that “we must [...]
“Genuinely uplifting” – The City AM Dragon Awards for Social Impact October 29, 2024 The rest of this week is going to be dominated by the Budget, so permit us a diversion today as this column focuses not on capital gains tax, investor sentiment or national insurance, but on the quiet, unassuming brilliance of so many people and so many businesses doing so many great things. In yesterday’s paper [...]