Reeves expected to float income tax hikes next month February 15, 2025 Chancellor Rachel Reeves is expected to float income tax rises next month as she attempts to stick to the government’s fiscal rules. A freeze on income tax thresholds is currently being discussed in the Treasury, which could raise as much as £4bn a year, according to reports from the Financial Times. One aide told reports [...]
Pound sterling rises to highest level this year as markets digest ‘mind-blowing’ tariff plans February 14, 2025 Sterling was trading at $1.26 on Friday afternoon, up 0.3 per cent on the day and its highest level so far in 2025.
The Week in Business: Is Net Zero going out of fashion? February 14, 2025 Just a few short years ago BP proudly told us they were embarking on a journey – and I quote – “in support of our purpose to reimagine energy for people and our planet, and our ambition to become a Net Zero company by 2050 or sooner and help the world get to Net Zero.” [...]
UK economy could face £24bn blow from Trump tariff plans February 14, 2025 The UK economy could face a £24bn blow from Donald Trump’s plans to impose tariffs on countries that charge VAT. The President announced plans to impose reciprocal tariffs last night, telling reporters that he considered VAT to be a tariff on US exporters. “I have decided for purposes of fairness that I will charge a [...]
What do falling interest rates mean for my finances? February 14, 2025 The Bank of England trimmed interest rates to 4.5 percent in February, the first of what could be multiple cuts this year aimed at kickstarting the UK’s weak economic growth. This raises questions about what loosening monetary policy could mean for savers’ finances. The BoE now expects GDP growth “to be notably weaker in the near [...]
The public isn’t buying Labour’s growth story February 13, 2025 Today’s growth figures will have elicited a sigh of relief across the government. A meagre 0.1 per cent uptick is certainly better than a recession. Though the news is not all good. The economy is smaller on a per capita terms, and when you dig down into the data, private sector activity is shrinking. An [...]
Rachel Reeves tax raid ‘unlikely to succeed’, analysts warn February 13, 2025 Chancellor Rachel Reeves’ attempts to put the public finances on firmer ground through tax hikes are “unlikely to succeed,” according to analysts at Oxford Economics. Collecting evidence from a range of ‘fiscal adjustments’ – attempts by governments to balance their budget deficits – Edward Allenby and Adam Slater said attempts to balance the budget through [...]
UK economy: Mixed signals for Rachel Reeves as GDP beats expectations February 13, 2025 You can tell it has been a bleak midwinter when quarterly growth figures of 0.1 per cent sets the pulses racing.
GDP grows 0.1 per cent as UK economy skirts recession February 13, 2025 Chancellor Rachel Reeves received a small boost after the economy unexpectedly grew at the end of last year, ensuring the UK does not face an imminent recession. Output expanded 0.1 per cent in the final three months of the year, according to the Office for National Statistics (ONS), after GDP rose 0.4 per cent in [...]
Labour has sucked the confidence out of wealthy Brits February 13, 2025 The government defines a high net worth individual as someone with an income of at least £170,000 and net assets of more than £430,000. Such people are undoubtedly in a comfortable position, but are hardly reaching non-dom status. Indeed, those just meeting the government’s definition would be politely turned down for a bank account at [...]
