5 h. ago Tax hike fears mount after government borrowing jumps in May

The ONS said borrowing surged to £17.7 billion last month, the second highest figure on record for May

Politics

6 h. ago UK grocery watchdog investigating Amazon over alleged supplier payment delays; company insolvencies jump – business live

Groceries Code Adjudicator calls on suppliers to share their experiences of working with AmazonThe number of companies collapsing across England and Wales jumped last month, in a sign of the economic pressures hitting firms.There were 2,238 company insolvences in England and Wales during the month, which is 8% higher than in April and 15% more than in May 2024.“This latest rise in corporate insolvencies reflects the harsh reality many businesses face: fragile demand is not keeping pace with rising costs. Even the increasingly-likely prospect of rate cuts in August won’t do much to fix this – insolvency levels will remain elevated for the foreseeable future.“Sectors like hospitality are having a particularly challenging time in this environment, in no small part due to the impact on labour costs of April’s National Insurance and minimum wage increases. These businesses are now approaching what are some of their peak months and will be hoping for strong trading to bolster their resili...

Economics

10 h. ago Government borrowing jumps despite boost from national insurance hike

The ONS said borrowing rose to £17.7 billion last month, the second highest figure on record for May.

Politics

61 h. ago Why Europe should hijack Nato for its own purposes | Paul Taylor

As the Trump administration’s security focus shifts towards countering China, European governments are living on borrowed timeCall it the five-for-five summit. When Nato leaders meet in The Hague next week, European allies will sign up to a phoney transatlantic bargain in which they pretend they will spend 5% of their economic output on defence and Donald Trump pretends in return that he is committed to Article 5 of the Nato treaty, the mutual defence clause that he has repeatedly undermined.The Nato secretary general, Mark Rutte, is deploying all his considerable political wiles and powers of persuasion to contrive a short, “no surprises” summit at which fundamental differences over Russia’s war of aggression against Ukraine, trade, the Middle East and liberal democratic values are deliberately excluded.Paul Taylor is a senior visiting fellow at the European Policy Centre Continue reading...

Politics

67 h. ago World War 3 fears rocket as two more countries opt to mount troops at border

Tensions in the Middle East have been rising between Israel and Iran, but another tense standoff has been brewing on the other side of Asia as both countries rally their armies

Events

9 d. ago Major pub chain forced to hike the cost of a pint by 15p after Labour's tax grab landed it with extra £8million staff costs

Fuller's says the rise in national insurance contributions (NICs) from last October's budget as well as the higher minimum wage from April has left the firm badly hit.

Economics

2 w. ago Georgia school district considers property tax hike to pay for school officers after shooting

Officials in the Georgia school district where four people were killed in a September school shooting are considering a property tax increase to pay for school-based police officers

Events

2 w. ago Voices: Are Rachel Reeves and Keir Starmer in denial about the ‘T’ word?

In a key speech in Rochdale, the chancellor stuck to Labour's manifesto pledge not to raise income tax, national insurance for employees and VAT, saying she had ‘absolutely no intention’ of repeating the £40bn tax hike in her first Budget. Her words may well come back to haunt her, warns Andrew Grice

Politics

2 w. ago Gaza aid points close for day as Israel warns against travel to distribution centres – Israel

Gaza Humanitarian Foundation halts limited supply of food distribution after at least 27 killed by Israeli fire as they waited for food Iran’s supreme leader on Wednesday criticised an initial proposal from the United States in negotiations over Tehran’s rapidly advancing nuclear programme, though he stopped short of entirely rejecting the idea of agreement with Washington. According to the Associated Press (AP), Ayatollah Ali Khamenei described the US proposal as “100% against the idea of ‘we can,’” borrowing from an Iranian government slogan. He also said that Tehran needed to keep its ability to enrich uranium. “If we had 100 nuclear power plants while not having enrichment, they are not usable for us,” Khamenei said. “If we do not have enrichment, then we should extend our hand (begging) to the US.” However, some nuclear power nations get uranium from outside suppliers, reports the AP. Details of the American proposal remain unclear after five rounds of talks between Iran and th...

Events

2 w. ago Tourists run in fear as Mount Etna erupts sending giant smoke cloud into air

Etna is the most active volcano in Europe but activity has grown over recent hours with continuous 'explosions of growing intensity'

Society

3 w. ago Motorists urged 'check number plate' to see if they owe DVLA £150 tax hike

With new car tax rates in force, drivers can use a useful online tool to see what they owe instantly

Economics

3 w. ago Cash Isa tax raid will hike cost of mortgages, Nationwide boss warns Reeves

Chief exec Debbie Crosbie said she was keen for the duty-free allowance to remain at £20,000 a year - as the lender reported a 30% jump in profits.

Economics

3 w. ago Fears mount for missing Brit holidaymaker who vanished during Algarve night out

Greg Monks, from Glasgow in Scotland, was last seen in the Portuguese party resort of Albufeira before disappearing on Tuesday evening, hours after landing in the Algarve

Events

3 w. ago Rachel Reeves 'faces having to hike income tax, NICs or VAT this Autumn' to fill gaping hole in public finances as Cabinet war over spending cuts rages

Rachel Reeves faces having to fill a gap of between £10billion and £30billion in the public finances, with growth slowing and Trump's tariffs hitting global trade.

Economics

3 w. ago Experts warn tax rises ‘feel inevitable’ at Autumn Budget after jump in Uk Government borrowing

Income tax bands are different in Scotland, but the Personal Allowance of £12,570 is universal across the UK.

Events

3 w. ago Thousands of Brits with holiday homes in Spain could be impacted by tax hike for non

Spain's Prime Minister has presented a new bill

Politics

4 w. ago Tax rises ‘feel inevitable’ after jump in Government borrowing

The Office for National Statistics said public sector net borrowing rose to £20.2 billion, its fourth-highest April figure on record.

Politics

4 w. ago More blows for Rachel Reeves as government borrowing hit highest outside Covid in April despite huge NICs raid... with signs the economy is still stalling

Embattled Rachel Reeves saw the public sector rack up £20.2billion of borrowing last month, far more than the £17.6billion analysts had expected.

Politics

4 w. ago UK government borrowing rises to £20.2 billion as pressure mounts on Rachel Reeves

The latest figure showed that the Chancellor had to borrow more money than expected over the month

Economics

4 w. ago Another hammer blow for Rachel Reeves as government borrowing soared to highest outside Covid in April despite huge NICs raid on firms

Embattled Rachel Reeves saw the public sector rack up £20.2billion of borrowing last month, far more than the £17.6billion analysts had expected.

Politics