The International Monetary Fund (IMF) has called on Chancellor Rachel Reeves to introduce tax increases and tighten government spending in the upcoming budget, warning that delaying such measures could exacerbate the UK’s public finance problems. In a pre-released section of its *Fiscal Monitor* report, the Washington-based organisation highlighted the UK and the United States as […]
UK inflation has dropped to its lowest level since April 2021, slipping below the Bank of England’s 2% target for the first time in years. The latest data from the Office for National Statistics (ONS) shows annual inflation at 1.7% in September, down from 2.2% in August, a figure far lower than City analysts’ predictions […]
Sir Keir Starmer has left the door open for an increase in employers’ national insurance contributions, despite Labour’s election pledge not to raise taxes on working people. The prime minister confirmed that “tough” decisions would need to be made in the upcoming budget, but stressed Labour’s commitment to its manifesto promises. During the election campaign, […]
The UK is set to create nearly 38,000 jobs and attract £63 billion in investment following the International Investment Summit, which focused on infrastructure, technology, and net zero initiatives. This year’s record-breaking total more than doubles the £29.5 billion secured at last year’s Global Investment Summit. The government attributed the surge in investment to planning […]
Stellantis, the parent company of Vauxhall, Fiat, Citroen, and Peugeot, is set to decide the fate of its UK factories within weeks amid ongoing disagreements with the Government over electric vehicle (EV) sales targets. In June, Stellantis warned it may need to close its Ellesmere Port and Luton plants unless ministers reconsider rules that require […]
Businesses in the UK are increasingly frustrated with HM Revenue & Customs (HMRC) as service standards continue to fall, according to a recent survey. For the first time, a majority of over 10,000 respondents, surveyed by HMRC’s Administrative Burdens Advisory Board (ABAB), rated their experience as “poor.” Accountants and business advisers warn that trust in […]
Following the general election, the new Government committed to publishing its proposals for employment law reform within 100 days. With a few days to spare, the highly anticipated Employment Rights Bill was published on 10 October 2024. It is described as the biggest upgrade to rights at work for a generation, and here is an […]
New data reveals that the UK is increasingly reliant on a small number of top-rate taxpayers to generate a significant portion of its income tax revenue. According to HM Revenue and Customs (HMRC), the 1.13 million individuals paying the 45p rate are expected to contribute £124 billion this year, which represents more than 40% of […]
London City Airport’s owners have injected £130 million in new equity to stabilise the airport’s finances amid a prolonged downturn in business travel. The move comes as the airport struggles to recover from the pandemic, with passenger numbers still trailing pre-Covid levels. The fresh capital has been provided by a consortium of Canadian pension funds […]
More than 4,000 Boeing employees in the UK are facing uncertainty as the American aerospace giant prepares to cut 17,000 jobs globally, roughly 10% of its workforce. Boeing’s UK operations, including its only European manufacturing facility in Sheffield, may be impacted by the sweeping job cuts, as the company grapples with financial challenges. Boeing’s UK […]