Labour has announced plans to permanently extend the mortgage guarantee scheme, initially introduced by the Conservatives in 2021 under then-Chancellor Rishi Sunak, if they win the upcoming general election. This scheme, designed to support low-deposit mortgages for first-time buyers, was recently extended until July next year by current Chancellor Jeremy Hunt. Labour leader Sir Keir […]
Rachel Reeves, Labour’s Shadow Chancellor, is under mounting pressure from her colleagues to consider raising capital gains tax (CGT) as part of an ambitious autumn budget designed to fund public services. With increases in income tax, national insurance, and VAT off the table, Reeves is exploring alternative revenue-raising measures. Labour insiders reveal that Reeves is […]
Businesses in the UK are planning to moderate both wage and price increases over the coming year, potentially paving the way for a reduction in interest rates this summer. This trend was highlighted in the Bank of England’s latest decision-maker panel survey. According to the survey, companies intend to raise pay by an average of […]
Britain must accelerate the construction of offshore wind farms threefold to meet its crucial decarbonisation targets, according to a leading think tank, the Institute for Public Policy Research (IPPR). The government has set an ambitious goal of achieving 50 gigawatts (GW) of offshore wind capacity by the end of this decade, a significant increase from […]
Taking remote working to a novel dimension, Ikea is offering £13 an hour for ten employees to assist in its new virtual store on Roblox. These virtual roles will involve tasks such as guiding customers and serving digital meatballs, blending the realms of gaming and employment. Set to launch soon, Ikea’s digital shop on Roblox […]
In a strategic move to close the polling gap with Labour, the Conservative Party has pledged to extend child benefit to 700,000 higher-earning households by raising the threshold to a combined income of £120,000 per household. Currently, child benefit, worth over £2,000 annually for two children, is withdrawn when one household member earns over £60,000, […]
British tech entrepreneur Mike Lynch was acquitted on Thursday of all 15 fraud charges in connection with the $11.1bn sale of his company, Autonomy, to Hewlett-Packard in 2011. The trial, which began in March in San Francisco, followed a protracted extradition fight from England to the US, with Lynch first facing charges in 2018. Prosecutors […]
The UK economy is set to grow faster than previously expected, according to the latest forecasts from the British Chambers of Commerce (BCC). The business and industry lobby group now predicts the economy will expand by 0.8% this year, up from an earlier estimate of 0.5%. For 2025, the growth forecast has been revised upwards […]
The UK’s “tourist tax” is driving affluent international visitors away from London to destinations like France, Italy, and Spain, according to Hugh Seaborn, CEO of Cadogan Estates, one of London’s largest landowners. Seaborn, whose company owns 90 acres of prime land in Chelsea, including Sloane Street and the King’s Road, described the tax as an […]
Former Bank of England governor Mark Carney has definitively ruled out any role in a future Labour government. When asked about the possibility of an official position or whether he had received any offers, Mr Carney laughed and responded, “My time in UK officialdom is over.” Mr Carney, who led the Bank of England from […]