City minister warned FCA ‘several times’ over name and shame plans Banking The City minister said she warned the Financial Conduct Authority (FCA) “several times” that its controversial ‘name and shame’ rules could harm companies before the regulator moved to water down the plans. Following intense criticism from firms and ministers, the regulator confirmed on Thursday that it would soften plans to publicly name companies facing investigation [...]
You know what won’t improve state efficiency? More watchdogs Opinion Donald Trump and Keir Starmer agree on one thing at least: their governments need reforming and to be much more efficient. Sadly for those on this side of the Atlantic, our value-for-money policies inspire little confidence. The UK already needed radical attention but Labour’s first Budget has raised the stakes even higher. As the Office [...]
In defence of Treasury brain Opinion Treasury officials are often criticised for making budgets add up in the short term at the expense of long-term goals. That’s true, but imagine the money that would be wasted if they didn’t! Writes Joe Hill Budgets are divisive, everyone has their own gripe. Too much spending, or too little. Not enough growth, or too [...]
Rachel Reeves warned a capital gains tax hike could trigger a market sell-off October 17, 2024 Investors could begin offloading stocks ahead of the Budget this month amid rumours the Chancellor is preparing to hike the level of capital gains tax (CGT) paid on shares, analysts have warned. Rachel Reeves is set to use her inaugural budget on 30 October to lift by several percentage points the charge paid by investors [...]
Capital gains tax could be hiked to almost 40 per cent October 10, 2024 Capital gains tax could be hiked by Chancellor Rachel Reeves to almost 40 per cent in the Budget, according to reports. The Guardian has reported that the Treasury is modelling a range of between 33 per cent to 39 per cent. Around 350,000 people pay the wealth tax with is levied on the sale of [...]
Prepare to flee London’s AIM if Reeves mounts inheritance tax raid, bank warns October 10, 2024 Companies listed on London’s junior AIM market are being told to prepare to flee the exchange or announce emergency share buybacks amid fears that a punishing inheritance tax raid could trigger a sell-off, City AM has learned. In a letter seen by City AM, one investment bank has urged all of its AIM-listed clients to [...]
NHS pension tax grab could see ‘return to strikes’, government warned October 9, 2024 Plans to reduce the tax-free lump sum savers can withdraw from their pension could see NHS workers mount a “return to pay unrest and strikes”, the government has been warned. Chancellor Rachel Reeves is reportedly mulling plans to cap withdrawals at £100,000 in the Budget on 30 October in a bid to shore up the [...]
Reeves mulls £100,000 cap for tax-free pension lump sum October 9, 2024 Under the current regime, most savers can take 25 per cent of their pension pot tax-free once they reach the age of 55, up to a limit of £268,275.
Businesses ‘cautious’ about the future as tax fears dominate, survey shows October 9, 2024 This was the first time in a year that business confidence had decreased, although the ICAEW noted that confidence was still double the pre-pandemic average.
Rachel Reeves promises to ‘revolutionise’ UK capital markets and boost London listings October 8, 2024 Ministers and regulators have made urgent efforts to inject more life into Britain's capital markets amid a dearth of IPO activity and heavy outflows from UK equity funds.