Government breaches another manifesto pledge by denying full triple lock uplift September 7, 2021 The government has breached another manifesto pledge and scrapped the normal functioning of the state pension triple lock, it announced today. In a statement delivered to the House of Commons today, secretary of state for work and pensions Thérèse Coffey announced the government will employ a triple lock lite, denying millions of pensioners an uplift [...]
Exclusive: National Insurance hiked by 135 per cent in 20 years, much faster than any other tax September 7, 2021 The government announced a new Health and Social Care Levy earlier today, which will effectively hike National Insurance Contributions for employees and employers by 1.25 per cent from April 2022. So how often are NICs used to pay for government investments and additional public spending? City A.M. studied the last twenty years. Tax receipts from [...]
Reports: Share profits could be in Tory tax crosshairs September 7, 2021 Stock market investors could be in line for a tax hike, according to reports this afternoon. The Government is expected to announce sweeping changes to National Insurance later today in the House of Commons as part of attempts to fill a gaping hole in the nation’s post-pandemic finances. But one source told The Sun that [...]
PM hikes National Insurance, dividends tax to pay for social care reform : CityAM September 7, 2021 Britons will be hit with £12bn-a-year tax rises to pay for increases in NHS and social care spending, with National Insurance and dividends tax in Boris Johnson’s crosshairs. A new Health and Social Care Levy will effectively hike National Insurance Contributions for employees and employers by 1.25 per cent from April 2022, while taxes on [...]
Johnson to defy Tory MPs and launch £10bn-a-year tax hike to fund social care and NHS September 7, 2021 Prime minister Boris Johnson will defy a revolt among Tory MPs and scathing criticism and plough on with a hike to national insurance to generate more than £10bn a year to tackle the swelling backlog of NHS work and fix the UK’s ailing social care system. Johnson will today announce an at least one percentage [...]
Lee Wilson CA on helping some of business’s biggest players get to grips with cryptocurrency September 7, 2021 This article first appeared in ICAS’ CA magazine. Lee Wilson CA, Head of Finance at Elliptic, is helping some of business’s biggest players get to grips with cryptocurrency. He gives Ryan Herman a whistle-stop tour of an industry set to influence all our lives. One of the more surprising aspects of the pandemic has been the [...]
Business groups decry NI hike ahead of social care plan announcement September 7, 2021 Boris Johnson will today outline his government’s plan for social care reform, with the widespread expectation he will announce an increase in National Insurance. It will come alongside plans to fix the Covid-related NHS backlog, which is thought to be at around five million people. It is expected that it will be paid for by [...]
TheCityUK: London at risk of losing global financial status in next five years September 7, 2021 The City of London is at risk of losing its status as a global financial powerhouse within five years, the Square Mile’s most influential lobbying body said today. In a new report, TheCityUK worked with 60 financial services groups to set out international strategy proposals to return the UK’s financial capital to being the “world’s [...]
Allianz under investigation by German regulator September 7, 2021 An investigation into insurance giant Allianz has been launched by regulators in Germany, after the loss of some of its US investment funds last year, according to Reuters who first reported the news. The German insurance company is one of the largest money managers globally and has €2.4 trillion ($2.9 trillion) in assets under management [...]
UK redundancies fall to lowest in seven years despite furlough taper September 7, 2021 Proposed job redundancies in the UK plummeted to their lowest level in seven years in August, despite the fast approaching deadline of the government’s Covid furlough scheme. British employers proposed 12,687 job cuts in August – down almost 80 per cent from the same time last year, when the figure stood at 57,469, according to [...]