Millionaires leave Britain in record numbers since Labour took power January 18, 2025 Millionaires have left Britain in record numbers since the new Labour government took power amid a crackdown on non-dom residents and sweeping tax hikes. The Treasury is facing fresh calls to reverse plans to abolish the non-dom tax status in April and replace it with a residence-based regime that also ropes in non-doms’ overseas assets [...]
‘Here for the long haul’: Reeves defends her position after market turmoil January 17, 2025 Rachel Reeves has insisted she is “here for the long haul” as she defended her position as Chancellor in the wake of bond market turmoil and rising government borrowing costs. The UK’s Chancellor has faced criticism for embarking on a trip to China last weekend while government borrowing costs surged and the value of the [...]
UK retail sales plunged in December as Budget fallout spread January 17, 2025 UK retail sales dropped during December, despite expectations of a Christmas bounce as consumers pulled back on spending. In a worrying sign for the economy, retail sales fell 0.3 per cent in December. Analysts had pencilled in growth of 0.4 per cent. November’s retail sales growth was also revised down by the Office for National [...]
Pensions industry hopes mini-reshuffle could ‘revive’ auto-enrolment debate January 17, 2025 Industry figures hope that Torsten Bell's appointment as pensions minister could "revive" discussions about increasing the contribution rate for auto-enrolment pensions.
Government unclear on where taxpayer money to fix potholes has gone January 17, 2025 Billions of pounds each year is going to councils but given the money is not ring-fenced, ministers have no idea how it is being spent.
Chinese embassy: ‘Alarm bells’ over security fears for London mega-site January 16, 2025 MPs have warned of “serious alarm bells” for the UK’s security over reports senior cabinet ministers have intervened on a Chinese planning application for a huge new London embassy. Foreign secretary David Lammy, who visited China last year, and home secretary Yvette Cooper have indicated their support for the proposed new 20,000 square metre mega-site [...]
No need for City minister to recuse herself over past lobbying, No10 says January 16, 2025 There is no need for new City minister Emma Reynolds to recuse herself from any duties because of her lobbying past, Downing Street has said. The Wycombe MP has taken over the Treasury minister role from Tulip Siddiq, who stepped down over allegations linked to her aunt’s political movement in Bangladesh. Questions had been raised [...]
Hargreaves Lansdown founder: Labour has ‘worst cabinet of all time’ January 16, 2025 The billionaire founder of Hargreaves Lansdown has said that the current Labour administration has the worst cabinet of all time and will “wreck the economy” over the course of a full term. Peter Hargreaves, who set up the investment platform Hargreaves Lansdown from his bedroom in 1986, slammed the Labour government’s first six months in [...]
Rachel Reeves – “Gilty” as charged January 16, 2025 The verdict is in. The Gilt market has found the Chancellor Rachel Reeves guilty of reckless endangerment of the country’s finances. A large electoral majority led her to think the world would happily finance what she described in her Mais Lecture as the “smart and strategic state”. Sticking to fiscal rules is for nought if [...]
No 10 won’t confirm new City Minister’s role in China policy January 15, 2025 Downing Street has declined to confirm whether new City minister Emma Reynolds will be able to make decisions about the UK’s relationship with China. She was appointed to the post of economic secretary to the Treasury yesterday, after Tulip Siddiq resigned over allegations of corruption linked to the former government in Bangladesh. Bloomberg reported that [...]
