84 m. ago Tax fears grow as Rachel Reeves faces new £9billion black hole ahead of Budget

Allan Monks, UK economist at JPMorgan, told the Financial Times that even shaving 0.1 or 0.2 per cent from productivity would leave a hole of between £9billion and £18billion.

Economics

8 h. ago Savers pulled £70bn from pension pots last year, as fears mount of further Budget tax raid

The figures from the Financial Conduct Authority, the City regulator, marked a 36% increase on the previous year.

Economics

15 h. ago Chancellor urged to end '£2bn a year SUV road tax haven' in the Autumn Budget

SUV drivers should be taxed proportionately for the impact their cars have on our roads and the environment under new calls for Rachel Reeves to target heavier vehicles.

Economics

17 h. ago Labour's jobs squeeze continues after Reeves tax raid with number of employees and vacancies down but staffing of central government and NHS hits new record high

Official figures showed the labour market 'cooling' as firms warn Rachel Reeves against mounting another tax raid at the Budget.

Politics

35 h. ago US agrees commercial terms on TikTok sale, as Trump says China talks went ‘very well’ – business live

Rolling coverage of the latest economic and financial news, as Beijing escalates its inquiry into Nvidia over takeover of Mellanox Today’s warnings about higher food prices coming in the UK are likely to cause fresh worries about how long borrowers will have to wait until Bank of England policymakers vote for another cut, reports Susannah Streeter, head of money and markets at Hargreaves Lansdown.Streeter adds:They are set to leave the base rate unchanged on Thursday and aren’t expected to make a move until next Spring.The Food and Drink Federation is forecasting food inflation could reach 5.7% by the end of December and still be running at 3.1% by the end of 2026. Higher employer and packaging taxes are being blamed for increasing costs for companies, which they can no longer absorb.“I’m delighted that we are on track to deliver yet another period of double-digit revenue growth and a strong profit performance, whilst maintaining our globally leading customer service standards.Our s...

Politics

37 h. ago Fears of spike in food bills as firms warn Labour against another Budget tax raid... with ministers preparing to push through workers' rights law

An industry body said food and drink inflation could reach 5.7 per cent by the end of the year, pointing to the effects of the national insurance raid and new packaging taxes.

Economics

39 h. ago First annual drop in UK house asking prices since January 2024

Rolling coverage of the latest economic and financial newsToday’s warnings about higher food prices coming in the UK are likely to cause fresh worries about how long borrowers will have to wait until Bank of England policymakers vote for another cut, reports Susannah Streeter, head of money and markets at Hargreaves Lansdown.Streeter adds:They are set to leave the base rate unchanged on Thursday and aren’t expected to make a move until next Spring.The Food and Drink Federation is forecasting food inflation could reach 5.7% by the end of December and still be running at 3.1% by the end of 2026. Higher employer and packaging taxes are being blamed for increasing costs for companies, which they can no longer absorb.“I’m delighted that we are on track to deliver yet another period of double-digit revenue growth and a strong profit performance, whilst maintaining our globally leading customer service standards.Our strategy as set out at our full year results is working and we have an exc...

Politics

4 d. ago UK economy FLATLINED in July in new blow for Rachel Reeves as fears mount over Budget tax hikes to fill huge hole in public finances

UK plc was at a standstill in July, in more evidence of a slowdown that could heap more trouble on the Chancellor.

Economics

5 d. ago Expert names three common pension mistakes that could cost you over £40,000

Ahead of the autumn budget and the potential pension tax changes, there are three things you should be considering to ensure you are not missing out on pension savings

Economics

5 d. ago Losses widen at John Lewis Partnership after Budget tax increases

However, the employee-owned group said it is still ‘well positioned’ to deliver profit growth for the full year.

Economics

6 d. ago Rachel Reeves admits high taxes ARE hitting economy as she urges Cabinet to rein in spending to help fill '£50bn' hole in public finances at Budget

Chancellor Rachel Reeves said the burden 'does impact growth' - arguing that expanding UK plc is the only way to improve the public finances.

Economics

6 d. ago Rachel Reeves begs ministers to rein in spending to help fill '£50bn' hole in public finances at Budget

Chancellor Rachel Reeves has written to colleagues warning that they will not be bailed out by the Treasury if they fail to control costs.

Economics

7 d. ago The terrifying signals that have left me convinced Rachel Reeves is about to axe vital tax breaks on pensions: JEFF PRESTRIDGE

With interest in Angela Rayner's tax affairs ebbing away, the focus has swung towards the upcoming Budget - and plans to tax our hard-earned wealth.

Economics

9 d. ago Firms halt hiring amid fears over Budget as Reeves is urged not to do 'any further damage' to job market

As speculation mounts over yet more tax hikes in the Budget in November, recruitment experts pleaded with the Chancellor to ease pressure on employers to boost hiring.

Economics

9 d. ago Are we heading for an' Omnishambles Budget'? Warning to Rachel Reeves  over demolishing pension tax relief

Overhauling pension tax relief to cut the amount going to better paid taxpayers would cause uproar and also harm lower paid workers, warns a new study.

Events

9 d. ago Share tips to beat Rachel Reeves's latest tax raid: MIDAS reveals how buying these brilliantly cheap stocks can help you avoid inheritance trap

It's no secret that the Chancellor has inheritance tax in her sights for November's Budget. More families than ever will end up paying the 40 per cent tax in the coming years.

Economics

1 week ago TOM UTLEY: If the Budget wrecks our retirement dream, perhaps Mrs U and I should use Angela's tax adviser

These are words I never thought I'd write, but I have a grain of sympathy for Angela Rayner in her current plight.

Economics

1 week ago Rachel Reeves scrambles to play down claims she's facing a £50bn 'black hole' in the public finances as under

The Chancellor also sought to dampen speculation she is poised to announce a fresh package of tax rises on British businesses and households.

Economics

1 week ago Reeves names last possible date for Budget as she eyes tax hikes to plug £40bn black hole

Sources tell The Independent the chancellor favours raising capital gains tax and introducing a gambling levy to plug the £40bn hole in public finances

Economics

1 week ago ‘Unhelpful’ Budget date could delay Holyrood tax and spending plans to new year

Scottish Finance Secretary Shona Robison hit out after Chancellor Rachel Reeves confirmed she will outline her fiscal plans on November 26.

Economics