Reeves accused of misleading country over ‘black hole’ in public finances November 28, 2025 Rachel Reeves is in the firing line for “misleading the country” after the chair of the fiscal watchdog poured cold water over claims there was a black hole in public finances. In a new letter addressed to the chair of the Treasury select committee, the OBR chair Richard Hughes said he was taking the “unusual [...]
Asda boss bashes Budget as sales continue to drop November 28, 2025 Asda boss Allen Leighton has hit out at the Autumn Budget as anti-growth and anti-investment as sales as the supermarket giant stumbled due to an IT handover. The executive chairman said Chancellor Rachel Reeves’ Budget “didn’t do anything for anybody” and that “there’s nothing the government is doing that is stimulating growth”. Speaking to City PM [...]
Reeves’ Budget tax hikes stopping Monsoon owner’s growth November 28, 2025 The owner of Monsoon and Accessorize has warned the tax rises introduced by Chancellor Rachel Reeves are forcing it to stop investing in its growth. Adena Brands, which is owned by Peter Simon, is “focusing on reducing our cost base over investing in growth” until it sees signs of strengthening consumer demand. The business added [...]
Business leaders fear more tax rises are on the way November 28, 2025 Businesses leaders are bracing for more tax rises even following another hefty cash raid from Rachel Reeves in her second Autumn Budget. Over two thirds of top bosses have said they fear business leaders will be targeted with more tax hikes even after the Chancellor raised taxes to the tune of £26bn on Wednesday. A [...]
Reeves to rush pension tax raid into law to calm nervous markets November 28, 2025 Chancellor Rachel Reeves is to rush through laws to enact her Budget, in a bid to reassure nervous markets that tax increases will be implemented even if they are not set to take effect for several years. Legislation to raise tax on pension contributions made through salary sacrifice schemes is expected to be introduced before Christmas, according [...]
FTSE 100 Live: London house prices fall amid Budget jitters November 28, 2025 Welcome back to the City PM liveblog. Markets were still digesting the twist, turns and taxes of the Autumn Budget on Thursday, with ministers taking to the media to defend the £26bn cash raid. A number of businesses began weighing in, including Britain’s bookies, which were in the firing line when Reeves took to the [...]
British founders dodged an exit tax – and bagged a few wins instead November 27, 2025 Startup founders went into this week’s Budget in a state of quasi-panic. Rumours of a so-called ‘exit tax’ on wealthy individuals, fuelled by weeks of speculation, sparked fears that Britain was about to hurt its own ecosystem. Far from taxing entrepreneurs on the way out, Rachel Reeves used her second Autumn Budget statement to shower [...]
Mansion tax is an ‘assault’ on London’s property market November 27, 2025 The UK’s new ‘mansion tax’ is set to hit homeowners in London hard, particularly for middle-class Londoners who have seen the price of their property balloon in the last two decades. Chancellor Rachel Reeves introduced a new high-value council tax surcharge for owners of properties valued at over £2m in her second Budget on Wednesday. [...]
Reeves criticised over lack of action on ballooning clinical negligence costs in Budget November 27, 2025 A leading medical defence organisation has criticised the Chancellor for missing the opportunity to tackle the ‘eye-watering’ NHS clinical negligence bill. In a statement following the Budget, Tom Reynolds, director of policy and communications at Medical Defence Union (MDU), explained that the “current system has led to legal fees ballooning to nearly four times the [...]
Banks keep up their end of Rachel Reeves’ tax bargain November 27, 2025 The banking industry has given Rachel Reeves some much-needed ammunition as she attempts to defend her tax-heavy Autumn Budget. After being spared from a highly-anticipated cash grab, a fleet of banks announced a fresh pump of capital in the UK economy. Britain’s largest retail bank Lloyds Banking Group unveiled £35bn of new finance for 2026 [...]
