UK risks losing American investment unless post-Brexit trade disruption is fixed July 18, 2022 The UK risks forgoing a wave of US investment unless it irons out its post-Brexit trading relationship with the European Union (EU), a new report published today warned. The UK-US economic corridor remains strong, but would be strengthened by London cooling tensions with Brussels, according to a report by consultancy Bain and Company and BritishAmerican [...]
Sunak and Truss clash over taxes in fiery TV debate as Tory leadership race heats up July 16, 2022 Two of the frontrunners to be the next Prime Minister locked horns over taxes during a fiery leadership debate.
Exclusive: Tory leadership hopefuls’ income tax cut pledges will not support poorest July 13, 2022 Tory leadership hopefuls’ promises to bring forward the planned income tax cut will not help “those in real financial need”. That’s according to Tim Sarson, head of tax policy at KPMG UK, who shared his thoughts exclusively with City A.M. on what the eventual winner of the contest and the long-term chancellor need to prioritise. [...]
Rishi Sunak: I will run the economy like Margaret Thatcher if I am made PM July 13, 2022 Chancellor Rishi Sunak has said he will run the economy like Margaret Thatcher if he gets into Number 10. The former chancellor made his comments with a high-profile interview on Wednesday as he continues his bid to become prime minister, currently viewed as the frontrunner by many. Speaking to the Telegraph, he drew comparisons to [...]
Brexit opportunities minister Jacob Rees-Mogg: I would refuse to serve in ‘socialist’ Rishi Sunak’s cabinet July 13, 2022 Boris Johnson ally Jacob Rees-Mogg has branded Rishi Sunak a ‘socialist’ and refused to serve in his cabinet should he become PM. The Brexit-backing Conservative MP hit out at the former chancellor’s “disloyalty” to the Prime Minister after he resigned last Tuesday. This comes after Rees-Mogg appeared to brand Sunak a socialist for high taxes [...]
Create investment boosting tax system to end economic malaise, CBI chief urges Tory leadership hopefuls July 13, 2022 Creating a tax system that boosts business investment to lift the UK out of its growth malaise is the only way to solve the country’s economic stagnation. That’s according to the chief of the Confederation of British Industry (CBI), the country’s largest business group. In an open letter to Conservative leadership candidates published today, Tony [...]
£134bn: Biggest rise in tax receipts since 2000 gives chancellor room to make cuts July 11, 2022 The new chancellor of the exchequer may have leeway for tax cuts, after a £134bn spike in so-called ‘stealth ‘ taxes. There was the biggest increase in receipts since the turn of the century over the last 12 months, up to £718bn, representing a 23 per cent increase on the previous year. The rise from [...]
Nadhim Zahawi: ‘I don’t know how rich I am’ July 11, 2022 Tory leadership hopeful Nadhim Zahawi was unable to say how rich he is, but insisted he and his family have never used offshore firms to avoid tax. The Iraqi-born politician who is one of 11 candidates in the race made his comments during an interview with Sky News, as he committed to publish his tax [...]
Then there were 11: Live TV debate for Tory leader to be held as Liz Truss throws hat into ring July 11, 2022 Sky News will host the first live television debate for the new leader of the Conservative Party and the next Prime Minister.
Chancellor Nadhim Zahawi becomes latest bidder in Tory leadership race July 10, 2022 Newly-appointed Chancellor Nadhim Zahawi has become the latest bidder in the Tory leadership race. Zahawi has now thrown his hat in the ring, joining the likes of former Chancellor Rishi Sunak as well as transport secretary Grant Shapps – who made his bid earlier today – and Attorney General Suella Braverman. The former education secretary [...]