Reeves to announce £2bn defence boost to secure more orders from allies March 14, 2025 The government has pledged an extra £2bn to support UK defence exporters in a bid to unlock more orders from international allies. This increases the lending capacity of the UK Export Finance’s (UKEF), the country’s official export credit agency, to £10bn. The UKEF’s Direct Lending scheme provides loans to other countries, which allow them to [...]
UK markets being ‘gradually undermined’ by tax regime – Interactive Investor boss March 10, 2025 The current tax regime is making UK markets “just about tradable” and are leading to their “gradual undermining”, according to the chief executive of Interactive Investor*. Speaking in the latest episode of City PM‘s Boardroom Uncovered podcast, Richard Wilson said his company has seen an increase in more investors trading in foreign markets instead of [...]
Rich people’s problems: Confidence in economy hits record low among wealthy Brits February 13, 2025 Confidence in the economy among high net worth Brits has tanked since the election of a Labour government last summer, according to data from the Saltus Wealth Index. The study, which questioned 2,000 people in the UK with assets of £250,000 or more, revealed just under half – 48 per cent – of these so-called [...]
Reeves reviews tech tax as Trump trade war fears mount February 4, 2025 Rachel Reeves is reviewing the UK’s £700m digital services tax (DST) on American tech giants in a bid to avoid Donald Trump’s tariffs. The DST, which was introduced in April 2020, imposed a two per cent levy on UK revenues of major tech leaders like Amazon, Apple and Google. The US previously expressed strong opposition, [...]
AIM and Aquis: London’s junior stock markets under threat without ‘urgent action’ from Reeves January 30, 2025 The government must take “urgent action” to revive London’s junior stock markets AIM and Aquis or risk more firms flooding overseas this year, a top City group has warned. In a new report today, The City UK, a trade body representing the UK’s financial services sector, called on the Chancellor Rachel Reeves and financial regulators [...]
Reeves to water down non-dom changes as scale of exodus revealed January 23, 2025 Rachel Reeves has confirmed she will alter some of the more controversial non-dom reforms announced in the Autumn Budget. Speaking at the World Economic Forum in Davos, the Chancellor committed to tabling an amendment to the Finance Bill removing some of the most contentious elements of its changes to non-dom taxation. Answering a question from [...]
PRA under pressure to cut red tape as growth plans fail to excite the City January 22, 2025 The banking regulator is under pressure to go further and faster in its efforts to cut red tape from the City after it outlined plans to boost the growth of firms within its remit last week. In a letter to the Prime Minister and Chancellor, the PRA, which sits within the Bank of England and [...]
FCA chair: Our growth push will test UK’s risk appetite January 20, 2025 The Financial Conduct Authority’s (FCA) push to slash red tape and unleash growth in the City will test the UK’s appetite for risk, its chair has warned, accepting that two of its new proposals could open the door to more fraud and mortgage defaults. Writing in City PM today, Ashley Alder said the FCA will [...]
UK economy: Only three sectors report growth as Reeves’ woes deepen January 20, 2025 The number of sectors seeing higher output in December was at its lowest level since September 2023.
Priti Patel: Labour should focus on negotiating with Trump instead of ‘disparaging comments’ January 19, 2025 Labour should focus on starting negotiations with Donald Trump, rather than making “disrespectful and disparaging comments”, shadow foreign secretary Dame Priti Patel has said. She told Sunday Morning With Trevor Phillips on Sky News: “I think we have to respect the fact that he has a very significant mandate. The American people voted clearly, categorically, [...]
