Some of Britain’s largest retailers are facing the prospect of paying millions in damages due to a wave of equal pay lawsuits, many of which are backed by contentious litigation funding arrangements. Last month saw the latest development in a long-standing legal case against Asda, where tens of thousands of employees are suing the supermarket. […]
Chancellor Rachel Reeves is facing renewed calls to implement a wealth tax, with economists, climate advocates, and high-net-worth individuals urging her to introduce a tax on the UK’s richest citizens to help fund essential public services and accelerate the transition to net zero. In an open letter to the chancellor, notable economists Thomas Piketty (pictured) […]
A new survey has revealed that 86% of UK small business owners are concerned that potential tax hikes and policy changes in the upcoming Autumn Budget could hinder their growth. Key concerns include potential increases in income tax, VAT, and national insurance, as well as rising costs from regulatory changes, particularly around flexible working and […]
The UK’s iconic clubbing scene is on the brink of collapse, with an alarming rate of 10 nightclub closures every month, according to new research from the Nighttime Industries Association (NTIA). The report warns that unless the government intervenes, the UK could see the “end of a clubbing era that has defined generations” by 2029, […]
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 […]