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 [...]
Accelerate pension rules overhaul to spur investment, says Phoenix chief November 20, 2022 Ministers must accelerate reform to pension and insurance rules in order to unlock a wave of private investment from the City, the chief of Phoenix Group has said.
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.
Lloyd’s of London to face £735m court battle over Dubai owned aircraft seized by Russia November 18, 2022 Lloyd’s of London is being sued for $875m (£735m) over its failure to pay out on a multi-million-dollar insurance claim filed over the Russian state’s decision to seize hundreds of planes this March. Airplane leaser Dubai Aerospace Enterprises Ltd (DAE) has filed a High Court claim against Lloyd’s seeking more than $875m from the insurer, [...]
Hunt plots an ‘OK, but’ budget to spread the pain and fling it to the future November 18, 2022 As Jeremy Hunt competed for headlines with the Australian soap opera Neighbours, its theme song was unwitting inspiration for his financial plan.
Hunt targets highest earners in tax grab as chancellor raises £55bn November 17, 2022 The UK’s highest earners have been targeted as a part of Jeremy Hunt’s tax grab, with the top 45p threshold of Income Tax slashed. The top tax bracket has been reduced from £150,000 to £125,140, while he has also frozen the Income Tax thresholds for the two lower brackets in a stealth hike. Hunt announced [...]
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 [...]
Reeves says UK in ‘doom loop’ and being ‘held back’ as Hunt hikes taxes November 17, 2022 Rachel Reeves has described the UK as being in an economic “doom loop” as she hits out at the government’s newly announced tax hikes. Labour’s shadow chancellor said the “mess we are in is the result of 12 weeks of Conservative chaos, but also 12 years of Conservaitve economic failure”. Chancellor Jeremy Hunt announced public [...]
Solvency II reform ‘welcome boost for UK investment’, say insurance giants November 17, 2022 The UK's insurance giants have hailed reforms to Solvency II as a "significant opportunity" to channel cash into the economy today, after the government announced it would legislate reforms to the rules.
Government announces Solvency II reform to unlock wave of investment November 17, 2022 The chancellor, Jeremy Hunt, said the government will legislate reforms to Solvency II rules today in a bid to unlock 'tens of billions of pounds' of investment from the UK’s insurance giants.