Sunak has enough room to scrap national insurance hike, according to top City economists January 25, 2022 Chancellor Rishi Sunak has enough room to scrap the looming national insurance hike to ease the heavy cost of living burden weighing Brits down, according to leading City economists. Bumper tax revenues driven by the UK economy performing much better than forecast has provided the Chancellor with a big enough tax windfall to cancel the [...]
National insurance hike completely unnecessary says Brexit veteran Lord Frost as Tory calls to drop £12bn tax increase swell January 25, 2022 Lord Frost has urged Boris Johnson and Rishi Sunak not to raise taxes in April as cost-of-living is set to increase for most Brits. The Prime Minister’s former Brexit chief joined the growing number of senior Conservatives to call for the planned national insurance hike to be scrapped. The former Brexit Minister – who resigned [...]
Firms have no choice ‘but to raise prices’ to absorb NI hike January 24, 2022 The looming national insurance tax hike will leave British businesses with no choice “but to raise prices,” a leading business group has warned. Firms will have to pass on the cost of the 1.25 percentage point hike to consumers in a bid to offset severe margin pressure, according to the Institute of Directors (IoD). Nearly [...]
Sunak reportedly tries to distance himself from £12bn National Insurance hike January 23, 2022 Rishi Sunak is reportedly trying to distance himself from a £12bn National Insurance hike due to be enforced in April, with the chancellor telling Tory MPs that it is the “Prime Minister’s tax”. Backbench Conservative MPs are rallying for the chancellor to scrap the tax rise, with many complaining that it will come as families [...]
CarTrawler CEO Cormac Barry on the travel sector’s long road to recovery January 23, 2022 No more PCR tests before arriving in England and most travel restrictions out of the window. International arrivals will instead be asked to take a lateral flow test on arrival and only to self-isolate if it comes back positive. The UK government’s recent announcements were warmly welcomed by the UK’s aviation and tourism sectors, including [...]
Nation of hungry entrepreneurs: Two in three UK employees plan to launch their own business January 22, 2022 A record two in three British employees plan to start their own business at some point in the future, a jump of more than 10 per cent compared to a year ago, according to new data shared with City A.M. this morning. In fact, one in ten Brits don’t want to wait and plan to [...]
Goldman, Citi, KPMG and PwC lead office return as workers flock back into the City January 21, 2022 The City of London’s major banks, accountants, law firms, and insurers have called on staff to return offices, after the government scrapped its work-from-home guidance. Major players including PwC, KPMG, Slaughter and May, and Aviva, told City A.M that they have called on staff to come back in. Major banks and financiers including Goldman, Citi, [...]
Brits’ optimism shrinks on soaring inflation and looming tax hikes January 21, 2022 An inflation spike, the re-emergence of Covid-19 restrictions and looming tax hikes have combined to dampen Brits’ confidence in the year ahead, reveals a closely watched survey released today. The erosion of household budgets by inflation climbing to a near three decade high has led to concerns about a deterioration in personal finances to sweep [...]
London markets post mixed day as miners and oil giants tumble January 20, 2022 London markets were a mixed bag yesterday as tumbling energy stocks held down the City’s top index. The capital’s premier FTSE 100 index inched down 0.06 per cent to close at 7,585.01 points, while the domestically-focused FTSE 250, which is more aligned to the health of the UK economy, jumped 0.26 per cent to finish [...]
Crypto.com admits $34m stolen from user accounts in hack January 20, 2022 Trading platform Crypto.com has admitted that $34m (£24.9m) was stolen from user accounts by a hacker.