JP Morgan makes £10bn UK bet as banks dodge tax raid November 27, 2025 JP Morgan is set to double down on the UK with plans to build its largest European presence through a new tower in Canary Wharf. The US banking juggernaut said it intends to build a new 3m square feet tower in London, which will inject as much as £10bn over the next six years into [...]
FTSE 100 Live: Entain, Flutter sound alarm in Reeves’ tax raid aftermath November 27, 2025 Good morning and welcome back to the City PM liveblog. The dust has settled on the Labour government’s second Autumn Budget and Brits have been left reeling from a £26bn tax raid. Taxes collected as a share of GDP are set to jump to an all-time high in the coming years, according to the Office [...]
Young professionals are the hardest-hit by this punitive Budget November 27, 2025 For anyone still tempted to believe Rachel Reeves has stuck to her manifesto promise not to put taxes up on working people, let me disabuse you of the notion. As the OBR pointed out yesterday, by 2030 there will be more than 10m people dragged into paying higher rates of income tax compared to 2023, [...]
Thanks to Reeves, our economy is now a 20 mile per hour zone November 27, 2025 If, on Wednesday morning, you’d asked me how this entire Budget process could ever get more chaotic and absurd I might have said “I suppose the entire thing could leak, before the Chancellor delivers it.” Then again, I probably wouldn’t have suggested such an implausible scenario. But at 11.44am yesterday morning, just ten minutes before [...]
‘Spend now, pay later’ – Reeves drags a million more Brits into higher rate tax November 26, 2025 Nearly a million more people will be dragged into paying the higher rate of income tax as Rachel Reeves took the UK’s tax burden to an all-time high. In a Budget that aims to raise some £26bn in extra government revenue by the end of parliament, Reeves extended the income tax thresholds freeze, which economists [...]
Hardworking families will pay for Labour’s Benefits Budget November 26, 2025 Rachel Reeves has broken every single one of her promises in this year's Budget, and it's hardworking families who will pay, writes Mel Stride.
What does the Budget mean for you? November 26, 2025 Rachel Reeves’ second Budget has been the most closely watched in recent memory, with media briefings and soundings on all sides. Rachel Reeves has raised taxes by £26bn in her second Budget, which follows on from last year’s £40bn. They will go up to well over 38 per cent of GDP by 2030, the OBR [...]
Budget: Treasury focused on ‘closing tax gap’ with US-style whistleblower scheme November 26, 2025 Rachel Reeves revealed in her Budget that the government continues to focus on closing the tax gap, with new measures set to raise an additional £2bn in tax revenue by 2029-30. The Chancellor pledged that the government will target “fraudulent businesses” that don’t pay their tax by providing HMRC with new compliance powers. A large [...]
The pension triple lock won’t ‘last forever’, warns Labour MP November 26, 2025 A Labour MP has admitted that the pension triple lock won’t “last forever”, as the Budget fails to mention an end to the controversial scheme. Speaking live to City PM‘s Christian May and Alys Denby, Chris Curtis, MP for Milton Keynes North, said that the “triple lock inevitably cannot last forever”. He said: “That is [...]
Autumn Budget: Pay-per-mile tax ‘completely wrong move’ November 26, 2025 Chancellor Rachel Reeves has hit electric vehicles with a pay-per-mile tax which will cost the average driver £255 per year and raise £1.1bn for the Treasury. Reeves delivered the expected 3p pay-per-mile tax for electric vehicles (EVs) at today’s Budget, which she framed as a fairness measure to balance the costs facing drivers. The OBR, the independent fiscal [...]
