Chancellor pressures asset managers to cut ties with Russia March 8, 2022 The Treasury has ramped up pressure on asset managers to dump their holdings in sanctioned Russian firms, with chancellor Rishi Sunak hosting top industry bosses last week to discuss divestment.
First we need to cut fuel duty, then we must redesign our road taxes entirely March 8, 2022 In early 2011 at The Sun, I pestered the editor for long enough about rising petrol prices that he decided the newspaper should be doing something about it. A campaign to freeze fuel duty was born – with all the old-school trimmings. We even took post bags full of petitions signed by readers up Downing [...]
Soaring oil prices create panic among most UK drivers March 7, 2022 Soaring oil prices continue to create panic among UK drivers, as growing numbers continue to be concerned about filling up their tanks. As a result of the ongoing Ukrainian conflict and consequences on oil prices as well as because of soaring inflation, UK petrol prices have risen last week to £1.55 per litre for diesel [...]
Exclusive: Energy crisis needs crisis measures argues Octopus chief executive Greg Jackson March 7, 2022 Octopus boss Greg Jackson has called for long term reforms to the energy market alongside short term moves to protect consumers.
CPS: Shield exports from tax to boost Global Britain and small business March 7, 2022 Shielding spending on ramping up exports from taxes will unlock a well of economic growth by boosting engagement with trade among Britain’s small businesses, a new report recommends today. Allowing firms to cut their tax bills by offsetting investment in exports would strengthen incentives for small firms to participate in trade, according to the Centre [...]
Sunak under pressure to drop NI rise in wake of Ukraine invasion March 6, 2022 Rishi Sunak is under increased pressure to drop his 1.25 percentage points increase of National Insurance next month in the wake of Russia’s invasion of Ukraine. It is expected the war will lead to higher inflation than expected due to Europe’s large reliance on Russian gas and Ukrainian agricultural products, like wheat. Annual growth in [...]
Major UK insurers call on government to extend pension auto-enrollment to young workers March 4, 2022 A group of major British insurance firms and pension funds have called on the government to extend the UK’s pension auto-enrollment terms to include young and low-wage workers. The group sent a letter to Rishi Sunak yesterday to call on the government to “level up pensions for everyone” by abolishing the “lower earnings limit and [...]
City minister says UK changes to EU financial services rules will not be a ‘big bang’ March 2, 2022 Overhauling the EU’s financial services rulebook post-Brexit will not be a “big bang” moment and could take several years, according to UK City minister John Glen. Glen told Westminster’s Treasury Select Committee today that the push to reform EU regulation will be an “iterative” process and that any intervention will not “overnight change the competitiveness [...]
Chancellor fails to respond to MPs’ claims NI hike will stoke inflation March 2, 2022 Chancellor Rishi Sunak has not responded to accusations from a group of MPs that scrutinises the government’s fiscal plans that the national insurance hike will stoke inflation. In a response to the Treasury Select Committee’s report on the October budget, Sunak recognised the UK’s public finances are “vulnerable to changes in macroeconomic conditions such as [...]
Reforming fiscal regime is no taxing issue March 1, 2022 Amid the surplus of analysis devoted to improving the UK tax system, debate over whether the government’s current and future level of spending sometimes slips by. With interest rates expected to climb as the Bank of England leans even further into hawkish policy and inflation already hitting near 30-year highs, the cost of borrowing will [...]