Banks brace for potential tax raid if Starmer is ousted April 25, 2026 Banks in the UK are bracing for potential tax raises, as expectations that Keir Starmer could soon be replaced by a more leftwing Labour politician continue to grow. The banking sector narrowly evaded a tax increase in last year’s Autumn Budget after chancellor Rachel Reeves sought reassurance that they would boost lending in the UK [...]
Big Four carnage as KPMG swings the jobs axe on both sides of the Pond April 24, 2026 On the back of KPMG taking the shears to its partners’ headcount in the UK, around 140 audit partners across the Atlantic are now set to lose their jobs. The Big Four firm is set to cut about 10 per cent of its 1,400 US audit partners to reduce its bloated headcount. The move comes [...]
Lib Dems vow to push back controversial Pension Schemes Bill April 24, 2026 The government has been warned that the Pension Schemes Bill will continue to be pushed back unless ministers remove controversial mandation powers, as a groundswell of opposition puts pressure on the government to water down the bill. The warning comes as the House of Commons gears up for the bill to bounce back from the [...]
UK is of ‘marginal relevance’ – Nick Clegg dismisses sovereign AI push as ‘dishonest’ April 24, 2026 Nick Clegg has told City PM that the UK’s AI sovereignty debate is “slightly dishonest” due to our “marginal relevance” as a global tech player. The ex-president of global affairs at Meta also said that policy decisions taken in recent years have limited the role the UK can now play in the development of AI [...]
Big Four giant KPMG downgrades equity partners April 24, 2026 Big Four giant KPMG has begun demoting UK senior equity partners – members who hold a stake in the firm and share its profits – and instead offering them lower status salaried partner roles. KPMG, which last year paid its equity partners on average £800,000 each a year, has reportedly been inviting the partners for [...]
Retail sales jump as motorists stock up on fuel April 24, 2026 Retailers saw a much-needed sales boost in the last month as Brits rushed to stock up on fuel amid fears that the Iran war could choke global supplies. Total retail sales were up 0.7 per cent in March, compared to a 0.6 fall in February, as fuel sales rose sharply by more than six per [...]
FTSE 100 Live: Stocks drop as Trump in ‘no rush’ to end Iran war; Retail sales jump on fuel rush April 24, 2026 Good morning and welcome back to the City PM liveblog. Donald Trump has slapped another extension on ceasefires in the Middle East following Wednesday’s intervention, where a previous deadline was set to expire. Just days ago, Trump said he was extending the ceasefire indefinitely as the deadline for strikes on Iranian power plants drew nearer. [...]
Lucky bets won’t save the UK economy – the government needs evidence April 24, 2026 The government must stop making decisions from the dark and properly prioritise research to grow the UK economy, writes Jane Frost.
‘How long can the pain continue?’ Consumer confidence falls again April 23, 2026 Consumer confidence has fallen to its lowest level in more than two years, as fears grow that the UK economy could be ravaged by soaring inflation caused by the Iran war. A closely-watched survey conducted by research firm GfK found consumer confidence dropped by four points to -25 in April. The index is another warning [...]
Inheritance tax receipts soar to all-time high April 23, 2026 Inheritance tax receipts soared to a record high over the last financial year as Labour’s targeting of property owners helped fund sweeping spending increases. Official data on Thursday morning showed that annual inheritance tax receipts rose to £8.5bn in the year between 2025 and 2026. This compared to total receipts of £8.3bn in the previous [...]
