22 h. ago Britain on track to lose 'unprecedented' 16,500 millionaires in 2025 amid high taxes and non

The UK is set to lose twice as many high net worth individuals as China and ten times as many as Russia this year

Economics

24 h. ago Boycott of McDonald’s to begin this week: ‘This is about more than burgers and fries’

Advocacy group has led boycotts of other major corporations including Amazon, Nestlé, and Walmart

Politics

9 d. ago Reeves braced for OBR forecasts to blow £20bn hole in tax and spending plans

Downgrades by Treasury watchdog could force chancellor to raise taxes or cut spending at budget to meet fiscal rulesRachel Reeves is braced for revised forecasts by the Office for Budget Responsibility (OBR) to blow a £20bn hole in her tax and spending plans before the autumn budget.Even without changing the totals the chancellor set out in her spending review on Wednesday, a weaker forecast from the the Treasury’s independent watchdog could force her to find significantly more money at the budget to meet her “non-negotiable” fiscal rules. Continue reading...

Economics

1 week ago Britain on track to become a ‘National Health State’, says thinktank

Resolution Foundation says half of all public spending will be allocated to the NHS and social care by the end of the decadeBusiness live – latest updatesBritain is on track to become a “National Health State” where half of all public spending is allocated to the NHS and social care by the end of the decade, according to a leading thinktank.Rachel Reeves used her spending review on Wednesday to prioritise billions of pounds for the NHS as she outlined Labour’s priorities up to the next general election, while squeezing funding for other areas. Continue reading...

Events

1 week ago Spending review 2025 – live: Reeves criticised for ‘fantasy’ plan as economists warn tax hikes ‘very likely’

Chancellor Rachel Reeves insists she will never have to repeat last year’s Autumn Budget, when tax rises were announced

Events

2 w. ago Newsom is warned of ‘criminal tax evasion’ if he withholds federal taxes

California governor made threat amid reports Trump is weighing huge federal funding cuts targeting stateThe US treasury secretary, Scott Bessent, has warned California governor Gavin Newsom that he would be guilty of “criminal tax evasion” if he withholds his state’s tax payments to the federal government amid threats of a funding cut by Donald Trump.Newsom had threatened to cut tax payments to the federal government two days ago after reports that Trump was preparing huge federal funding cuts targeting Democrat-dominated California, including its state university system. Continue reading...

Events

2 w. ago UK supermarkets exploit tax loophole to produce cider at ‘pocket

Campaigners say ‘super-strength subsidy’ puts pressure on the NHS, as some ciders cost same as apple juiceSupermarkets such as Tesco, Aldi and Lidl are exploiting a tax loophole to produce and sell cheap cider that harms health and causes social problems, alcohol campaigners have claimed.Over recent years, ciders – sometimes containing as much as 7.5% alcohol – have become cheaper or barely risen in price, despite the cost of beer, wine and spirits soaring, according to research by Alcohol Change UK. Continue reading...

Economics

2 w. ago UK taxpayers face extra costs as France plans Channel small boat interceptions

French government braces for legal challenges to new tactics, involving extra police, boats and dronesBritish taxpayers will be expected to contribute more money to stop irregular migration as the French government prepares to halt small boats carrying asylum seekers even if they are already at sea.It is understood there will be extra costs associated with the scheme to tackle boats within 300 metres of the shore – including paying for police, boats and drones – which the UK will be asked to share with France. Continue reading...

Economics

2 w. ago Over 800,000 families get up to £4,000 boost through HMRC scheme

Latest figures from the tax office show that in March 2025, 579,560 families in the UK used the scheme to save on their annual childcare bills - this is an increase of 81,770 families compared to March last year

Economics

2 w. ago Musk’s tax bill attacks have rattled Republicans. But Trump still reigns supreme | Lloyd Green

In the end, we’re likely to see a legislative pastiche – a Frankenstein’s monster forged by political necessityThe feud between Elon Musk and Donald Trump is a godsend for Democrats, a headache for the president and a problem for Mike Johnson, the Republican speaker of the House. Between now and the Fourth of July, Trump expects congressional Republicans to deliver a badly needed win. After more than four months back in the Oval Office, he still lacks a major legislative achievement.Republicans control both the House and Senate, but the public sees goose eggs on the scoreboard. Almost daily, the courts upend the president’s executive orders. Slim legislative majorities and government by rage come with drawbacks.Lloyd Green is an attorney in New York and served in the US Department of Justice from 1990 to 1992 Continue reading...

Politics

3 w. ago Elon Musk calls Trump’s ‘big, beautiful’ tax bill a ‘disgusting abomination’

The former head of Doge said the ‘outrageous’ tax bill will cause the deficit to grow to $2.5tnUS politics live – latest updatesElon Musk, the billionaire tech entrepreneur, has opened a new rift with Donald Trump by denouncing the US president’s tax and spending bill as a “disgusting abomination”.Musk’s online outburst could embolden fiscally conservative Republican senators – some of whom have already spoken out – to defy Trump as they continue crucial negotiations on Capitol Hill over the so-called “one big, beautiful bill”. Continue reading...

Politics

3 w. ago Rome’s taxi drivers outraged at claim they drive like F1’s Max Verstappen

Mercedes chief Wolff made comparison after Spanish GP‘It would be better if Wolff focused on his own team’Rome taxi drivers are in uproar at the suggestion they drive as badly as mad Max Verstappen, with some challenging Formula One drivers to navigate the traffic and potholes of the Italian capital as skilfully as they do.Verstappen, a four-time F1 champion, was issued with a penalty on Sunday after crashing into George Russell’s Mercedes in the Spanish Grand Prix. Continue reading...

Politics

3 w. ago Obama says Republicans are putting millions of Americans’ healthcare at risk

Rare intervention from former president urges people to call their senators to oppose Trump tax billBarack Obama has warned that Congress is putting millions of Americans at risk of losing healthcare coverage, in a rare intervention from the former president as the Republican party advances legislation that would gut major provisions of the Affordable Care Act.“Congressional Republicans are trying to weaken the Affordable Care Act and put millions of people at risk of losing their health care,” Obama posted on social media. “Call your Senators and tell them we can’t let that happen.” Continue reading...

Politics

3 w. ago Trump’s tax bill helps the rich, hurts the poor and adds trillions to the deficit | Katrina vanden Heuvel

The ‘big, beautiful bill’ has reaffirmed that a pledged golden age is really just a windfall for the uber-wealthyThe blush is off the rose, or, rather, the orange. The erstwhile “First Buddy” and born-again fiscal hawk Elon Musk recently said he was “disappointed” by Donald Trump’s spendthrift budget currently under debate in the US Senate. Squeaking through the House of Representatives thanks to the capitulation of several Republican deficit hardliners, this “big, beautiful bill” certainly increases the federal debt bigly – by nearly $4tn over the next decade.Equally disappointed are those who have been busy burnishing Trump’s populist veneer. Steve Bannon had repeatedly promised higher taxes for millionaires, but he has confessed he’s “very upset”. That’s because the bill would cut taxes by over $600bn for the top 1% of wage-earners, also known as millionaires. It amounts to the largest upward transfer of wealth in American history. Continue reading...

Politics

3 w. ago Trump confirms he’ll be negotiating his signature tax bill after Musk criticism

Tesla boss says US president’s One Beautiful Bill Act ‘undermines’ his Doge cost-cutting effortsDonald Trump said he will be negotiating his signature tax bill after Elon Musk publicly criticised the president’s spending plan, saying it “undermines” cost-cutting efforts that the world’s richest man once spearheaded.Speaking to reporters on Wednesday, Trump acknowledged the bill “needs to get a lot of support” in Congress, adding “we have to get a lot of votes”. The president also said he was “not happy about certain aspects of it, but I’m thrilled by other aspects of it” and confirmed he would be negotiating the legislation. Continue reading...

Economics

3 w. ago Trump says he will be negotiating the ‘big, beautiful’ tax bill after Musk criticizes it – live

Trump says the bill ‘needs to get a lot of support’ in Congress, adding ‘we have to get a lot of votes’Musk says Trump tax bill weakens Doge cost-cutting measuresThe vice-president, JD Vance, is scheduled to deliver the keynote address at the Bitcoin 2025 Conference in Vegas, which will set out the Trump administration’s turbocharged approach to the US crypto industry.If you cast your minds back, it’s the same conference Trump spoke at last year in Nashville calling for America to become a “bitcoin superpower” and the “crypto capital of the planet” under his leadership.At 4:30pm ET, Trump’s sons Eric and Donald Trump Jr will speak at the very same conference in Vegas. It’s presumably an industry they feel invested in, given they back a major Bitcoin venture themselves, per Reuters. And it comes just a day after a separate family-linked business, the Trump Media & Technology Group, announced its intention to raise $2.5bn to invest in bitcoin, as the Wall Street Journal reports. A...

Politics

3 w. ago Marco Rubio announces visa restrictions for foreigners ‘complicit in censoring Americans’ – US politics live

US secretary of state makes announcement that appears to take aim at other countries’ enforcement of social media regulationsMusk says Trump tax bill weakens Doge cost-cutting measuresThe vice-president, JD Vance, is scheduled to deliver the keynote address at the Bitcoin 2025 Conference in Vegas, which will set out the Trump administration’s turbocharged approach to the US crypto industry.If you cast your minds back, it’s the same conference Trump spoke at last year in Nashville calling for America to become a “bitcoin superpower” and the “crypto capital of the planet” under his leadership.At 4:30pm ET, Trump’s sons Eric and Donald Trump Jr will speak at the very same conference in Vegas. It’s presumably an industry they feel invested in, given they back a major Bitcoin venture themselves, per Reuters. And it comes just a day after a separate family-linked business, the Trump Media & Technology Group, announced its intention to raise $2.5bn to invest in bitcoin, as the Wall Str...

Politics

3 w. ago Hawaii will tax vacation stays and use money to help counter climate crisis

Tax expected to generate nearly $100m annually, to be used for projects such as replacing sand on eroding beachesHawaii’s governor signed legislation that boosts a tax imposed on hotel room and vacation rental stays in order to raise money to address the consequences of the climate crisis.It’s the first time in a government in the US imposes such levy to help cope with a warming planet. Continue reading...

Economics

3 w. ago Musk criticises Trump’s ‘big beautiful bill’, saying tax plans undermine Doge measures – US politics live

Tesla billionaire calls legislation a ‘massive spending bill’ that will add to the federal deficitMusk says Trump tax bill weakens Doge cost-cutting measuresThe vice-president, JD Vance, is scheduled to deliver the keynote address at the Bitcoin 2025 Conference in Vegas, which will set out the Trump administration’s turbocharged approach to the US crypto industry.If you cast your minds back, it’s the same conference Trump spoke at last year in Nashville calling for America to become a “bitcoin superpower” and the “crypto capital of the planet” under his leadership.At 4:30pm ET, Trump’s sons Eric and Donald Trump Jr will speak at the very same conference in Vegas. It’s presumably an industry they feel invested in, given they back a major Bitcoin venture themselves, per Reuters. And it comes just a day after a separate family-linked business, the Trump Media & Technology Group, announced its intention to raise $2.5bn to invest in bitcoin, as the Wall Street Journal reports. And th...

Politics