Uk Government

Nigel Green has claimed that the UK could be “Truss’d” in a stark warning as gilt yields surge, drawing comparisons with the market turmoil that followed Liz Truss’s mini-budget in 2022. The chief executive of deVere Group, one of the world’s largest independent financi

Chancellor John Healey faces a £3.5bn borrowing overshoot in August ahead of his inaugural Budget. The government was expected to borrow around £14.8bn in August, according to the OBR, while the market consensus was around £15.6bn. Actual borrowing reached £18.3bn.

The Bank of England has kept interest rates on hold, warning that a continuation of the current conflict in the Middle East could force it to raise borrowing costs amid growing fears over inflation. The Bank's Monetary Policy Committee (MPC) also announced a surprise plan to sell billions of pounds

The Association of Investment Companies (AIC) has called on Chancellor John Healey to remove stamp duty by the end of this parliamentary term to unlock growth. Investors must pay 0.5% stamp duty tax to the UK Government when buying UK shares or other chargeable securities, which the AIC warns is mak

AJ Bell has called on Chancellor John Healey to commit to pension tax stability to avoid another round of damaging speculation about tax-free cash ahead of the October Budget. The firm shared its Budget submission to the Treasury today, highlighting that a pre-Budget commitment to pension tax s

Andrew Bailey has warned that inflation risks remain "on the upside" as he defended the Bank of England's reliance on the Treasury to cover losses generated by quantitative tightening. The Governor of the Bank of England told MPs on the Treasury Select Committee in an evidence session that the curre

More than six in ten millionaire investors have considered leaving the UK because of concerns over taxation, according to new research from Wealth Club. The study of 341 Wealth Club clients, all with overall wealth of £1 million or more, found that 61% have at least considered becoming non-UK

Chancellor John Healey has claimed growth is at the "heart of fiscal challenges" facing the UK, as he refused to rule out tax rises ahead of his maiden Budget next month. The Chancellor ignored questions about whether households and businesses were set to face another set of tax rises in October, fo

The UK Government is on course to raid a record £14.3bn in inheritance tax from UK families by 2029/30, according to the Office for Budget Responsibility. The nil-rate band has been frozen at £325,000 since 2009 and will stay frozen until 2030, while property, pensions and savings have c

Interest rates will need to rise quickly to head off the threat of inflation, according to the Bank of England’s chief economist. Huw Pill told an audience in Edinburgh that there were “dangers” in waiting for firmer evidence of the impact of conflict in the Middle East, reports ou

Chancellor John Healey is facing "sleepless nights" over a growing "inflation monster" due to surging oil prices, rising interest rate expectations and spikes in government gilt yields threatening markets on both sides of the Atlantic ahead of his inaugural Budget. High borrowing costs are expected

A Budget tax raid on British banks would hand a competitive gift straight to rival global financial centres, according to the chief executive of one of the world’s largest independent financial advisory organisations. Nigel Green of deVere Group urged Chancellor John Healey to dismiss union le

Bankers and lawyers have been asked by the Treasury to share feelgood stories about how they blocked dirty money from entering the UK, as ministers try to prove the government's money-laundering controls are working. Officials from The Treasury are hoping to illustrate the UK has improved when it co

Treasury officials have presented Chancellor John Healey with a plan to tax oil firms and banks to help rebuild his £22.7bn fiscal buffer, according to reports. Officials believe that a new windfall tax on banks and a further increase on oil firms could help increase government receipts squeez

Accountancy firm Henderson Loggie is calling on the UK Government to radically reform regulation and taxation in the food and drink sector following growing fears for the sector's future. Matthew McDermott, head of food and drink at Henderson Loggie, urged ministers to review employers' National Ins