How will the bond markets react to the Budget? October 30, 2024 For all the government’s promises of stability and hoped-for reductions in interest rates, UK yields on government bonds are now, in fact, very similar to the levels to which they rose under the ill-fated Truss government, says Paul Ormerod There has been a huge amount of speculation about the Budget. Later today we will of [...]
What will happen to wealth taxes? October 30, 2024 The Chancellor is considering a range of tax hikes on wealth, but questions remain over how much revenue she can raise, says Nick Pheasey The taxation of an individual’s wealth can be an emotive subject. Broadly, the UK imposes tax on wealth on two occasions. First, as it is generated, by income tax or capital gains [...]
Nearly half of fintech founders mull leaving UK ahead of crunch Budget October 29, 2024 Growing frustrations with new government policies and regulatory concerns could further drive an exodus of UK fintech founders, a grassroots industry group has warned. According to an annual report conducted by industry group Fintech Founders, some 39 per cent of the 450 leading entrepreneurs surveyed had expressed concerns over a “poor” and “awful” regulatory environment. [...]
Sir Martin Sorrell: Tax hikes risk hurting UK productivity October 29, 2024 The government’s potential tax hikes and changes to investment relief could drive capital abroad, discourage hiring and stymie productivity, former WPP chief Sir Martin Sorrell has warned ahead of tomorrow’s Autumn Statement.
Budget 2024: No10 claim Hunt trying to ‘blame referee’ as OBR row heats up October 29, 2024 Jeremy Hunt is trying to “blame the referee” amid a row over an OBR review into the previous government’s departmental spending plans, No10 has claimed. The former Chancellor has criticised the Office for Budget Responsibility (OBR) for choosing to publish its findings as to whether it was given adequate financial information from Conservative ministers ahead [...]
Convenience stores issued £634m warning ahead of Budget October 29, 2024 A lobby group has warned convenience stores could be set for a huge bill next year as tax hikes are expected to be included in the Autumn Budget. The Association of Convenience Stores has said the sector will face a potential bill of £634m due to wage increases, plus changes to National Insurance contributions and [...]
Bosses scramble to sell shares amid fears of Budget capital gains tax raid October 29, 2024 UK executives have been “racing to sell shares” at a record rate as fears mount that Chancellor Rachel Reeves will raise capital gains tax at tomorrow’s Budget. Last week, directors sold £29.8m of their companies shares, while only buying £4.1m, leaving a net £25.7m of stocks sold. Meanwhile, over the last month, investors have sold [...]
Santander UK profit slides as analysts forecast £1.8bn motor finance hit October 29, 2024 Santander has revealed a sharp fall in its UK profit during the third quarter, while delaying the publication of more detailed figures as it digests a landmark motor finance court ruling in London.
Autumn Budget 2024: Minimum wage set for above inflation hike October 29, 2024 Firms could be set to face higher payroll costs as the minimum wage is reportedly set to increase by more than six per cent at Wednesday’s Budget. Chancellor Rachel Reeves is expected to announce an above inflation raise that is higher than was predicted last month, according to the Times newspaper. It will result in [...]
Housing market continues to strengthen as mortgage rates fall October 29, 2024 New figures from the Bank of England showed that 65,600 new mortgages were approved in September, the highest figure since August 2022.