The Gym Group swings to profit as growth plan pays off September 11, 2024 Budget fitness centre operator The Gym Group swung to a profit in the first half of 2024 and said it was “well set” to deliver full-year earnings at the top end of market forecasts. The London-listed firm, which has 240 locations across Britain, reported a pretax profit of £0.2m for the six months, compared to [...]
Tech chiefs warn Chancellor not to undermine growth with tax hike September 11, 2024 A sweeping hike in capital gains tax (CGT) risks “undermining the chancellor’s growth agenda” and could suck talent and investment away from Britain’s start-ups, some of the country’s top fintech bosses have warned. Industry bodies and tech chiefs mounted a co-ordinated push to topple the suggestion of a blanket rise in CGT yesterday as they [...]
The real fiscal ‘black hole’ is government debt September 11, 2024 When one of the most senior figures in investment banking was asked at a private event last week what keeps him awake at night, he replied “government debt”. A recent House of Lords report will not help him sleep any easier. The Economics Affairs Committee has warned of the “grim reality” that at £2.74 trillion [...]
Goldman Sachs expects tax hikes of ‘at least’ £20bn in Reeves budget September 10, 2024 Many potential tax reforms have faced criticism for their potential unintended consequences.
Wizz Air to tap Middle East demand with long range Airbus jets September 10, 2024 The Hungarian airline is the first ultra low-cost carrier to operate the Airbus A321XLR, which has a range of 4,700 nautical miles.
Lloyds, Barclays and Natwest could weather Labour tax raid, analysts say September 10, 2024 Lloyds, Barclays and Natwest would see their 2024 profits fall by “low single digits” if the Labour government decides to raise taxes on banks in October’s Budget, according to Bloomberg Intelligence. Bloomberg analysts said Lloyds Banking Group and Natwest would likely offset the hit to their profits by repricing their loans, while they did not [...]
State pension set to rise by £460 next year amid winter fuel debate September 10, 2024 This would mean that the state pension rises to around £11,962 next year from £11,502, an increase of almost £9 per week.
Government faces ‘grim reality’ on national debt, peers warn September 10, 2024 "If we wish to improve the level of and quality of services, and continue the current provision of benefits, taxes will need to rise. The alternative is that the state does less," the report said.
Capital gains tax branded ‘ripe for reform’ ahead of Budget September 10, 2024 Capital gains tax is “ripe for reform”, a leading think tank has said, as Chancellor Rachel Reeves considers possible revenue raisers ahead of October’s Budget. With a range of potential tax rises on the table, the Resolution Foundation has joined a chorus of voices arguing that the levy needs to be reformed. In a report [...]
Labour’s upcoming tax rises – and what to do about them September 10, 2024 Here’s how wealth creators in the UK can navigate the upcoming tax changes, write Ollie Saiman and Katherine Waller As we approach the new government’s first budget it seems almost impossible to avoid the widespread speculation about what Halloween tricks or treats are going to jump out of the Chancellor’s red box on 30 October. Given the [...]