More than 1,500 UK entrepreneurs and business leaders have signed a letter to Chancellor Rachel Reeves, urging her to reconsider proposed changes to business asset disposal relief (previously known as entrepreneurs’ relief), ahead of the budget on October 30. The letter warns that modifying or scrapping the relief could severely undermine the entrepreneurial spirit that […]
The UK government has secured a £1.5 billion profit following Octopus Energy’s acquisition of the collapsed energy supplier Bulb, marking the conclusion of the Bulb bailout saga. Octopus Energy paid over £3 billion to the government, providing a significant financial boost amid pressing budget constraints. The government intervened in November 2021 when Bulb went into […]
Angela Rayner’s ambitious overhaul of workers’ rights could burden UK employers with nearly £5 billion in additional costs each year, according to an impact assessment published by the government. The reforms, proposed in the Employment Rights Bill, could result in businesses raising prices, cutting back on wages, or reducing investment as they grapple with a […]
Chancellor Rachel Reeves’s upcoming Budget risks pushing the UK towards having one of the least competitive tax systems in the developed world, according to a major new analysis by the US-based Tax Foundation and the UK’s Centre for Policy Studies (CPS). The report warns that if Labour introduces a widely expected capital gains tax increase, […]
Small businesses in southeast England are benefitting from a strong recovery in bank lending, leaving the rest of the UK trailing behind, according to new research from the British Business Bank. Lending to businesses in the region surged, driving a 21% rise in approved loans and overdrafts across the UK in the first half of […]
Gold prices surged past the $2,700-per-ounce mark for the first time on Friday, as escalating tensions in the Middle East and ongoing global economic uncertainty drove demand for the precious metal. By Friday evening in New York, gold had risen 0.8% on the day to reach $2,713.70, marking a weekly gain of 2.1%. So far […]
A record number of UK businesses are facing significant financial distress, underlining the precarious state of the economy as Chancellor Rachel Reeves prepares to unveil her first budget on 30 October. A report by Begbies Traynor, the insolvency specialists, revealed that 632,756 companies were at substantial risk of failure in the three months leading up […]
With the Labour government set to present its first budget on 30 October, anticipation is mounting as businesses and individuals alike brace for potential tax changes and spending shifts. Chancellor Rachel Reeves has made it clear that tax hikes are inevitable, framing them as necessary for restoring fiscal and economic stability. In her address at […]
Investors are withdrawing money from their pension pots in increasing numbers, fearing potential tax rises in the upcoming budget. AJ Bell, one of the UK’s largest DIY wealth managers, has reported a significant uptick in pension withdrawals, as clients move to secure tax-free lump sums ahead of possible changes by the government. Michael Summersgill, AJ […]
Excessive regulation could turn the City of London into a “graveyard” by stifling innovation and risk-taking, Sam Woods, chief executive of the Bank of England’s Prudential Regulation Authority (PRA), has warned. Speaking at the City’s annual banquet at Mansion House, Woods cautioned that while financial regulations are necessary for stability, over-regulation could suffocate the financial […]