NatWest Group plc has agreed to an off-market purchase of 469.2 million of its shares from HM Treasury, amounting to £1.26 billion in consideration.
UK oil and gas companies are expected to be offered windfall tax relief by Prime Minister Rishi Sunak as part of efforts to boost investment and improve energy security.
The UK government has further reduced its shareholding in Royal Bank of Scotland-owner NatWest Group.
An agreement to invest £100 million in the future economic prosperity of Orkney, Shetland and the Outer Hebrides was signed today in Orkney.
The freeze to UK alcohol duty rates has been extended by six months to 1 August 2023, the UK Government announced yesterday.
Financial experts have warned the Scottish Government against introducing "less competitive rates of tax" in the wake of tax increases and spending cuts announced by Chancellor Jeremy Hunt this morning. In his first Autumn Statement, Mr Hunt extended the freeze on key allowances and thresholds, incl
Prime Minister Rishi Sunak has announced a £4.2 billion contract to build five new Royal Navy frigates on the Clyde and support 1,700 jobs in Govan and Scotstoun. Delivering on ambitions laid out in the National Shipbuilding Strategy Refresh earlier this year, the contract awarded to BAE Syste
Analysts from the Resolution Foundation (RF) have shown that the mini-budget put forward under Liz Truss cost the country an estimated £30 billion. It resulted in a doubling of the fiscal hole the Treasury has said Jeremy Hunt will have to fill with this week's expected range of tax rises and
The chancellor, Jeremy Hunt, has announced that the government's fiscal statement will be delayed from October 31 to November 17. The new prime minister, Rishi Sunak, and chancellor agreed on the new date when they will set out a detailed plan to reduce debt and put in place a growth strategy for th
Whisky distillers have cried out against one of the government's fiscal U-turns announced on Monday reversing of the freeze on alcohol duty. Commenting on the reversal of the UK alcohol duty freeze Mark Kent, chief executive of the Scotch Whisky Association, said: “Business can only work on th
The new Chancellor of the Exchequer, Jeremy Hunt, has announced the reversal of most of the tax cuts announced in the preceding chancellor's 'mini-budget'. The measures which were scrapped include:
A group of 10 organisations including MoneySavingExpert and Carnegie UK Trust have called on the government to take action on fraud in an open letter addressed to the prime minister. The letter dated 14 October 2022 reads:
Chancellor Kwasi Kwarteng has called bank chiefs to Downing Street to address issues with mortgages after uncertainty in the mortgage market led rates to soar to a 14-year high of 6%. The increase in rates also triggered a flurry of mortgage agreements being withdrawn by lenders.
Chancellor Kwasi Kwarteng has U-turned on plans to abolish the 45p rate of income tax for higher earners in the UK. The plan to remove the 45p rate, paid by those earning more than £150,000 a year, was announced on September 23 as part of a package of tax cuts planned by the UK Government.
The Chartered Institute of Taxation (CIOT) has responded to the Chancellor’s announcement last week, that the UK basic rate of income tax will be reduced to 19p and the UK additional rate of income tax abolished from April 2023. These changes will not apply to Scotland, where the power to set