Uk Government

Andrew Bailey has claimed forging closer ties with the EU would boost growth as he backs the Prime Minister's plans. The Governor of the Bank of England stressed he remained politically neutral on Brexit before highlighting that less friction with nearby trade partners would inevitably help the econ

The Secretary of State for Scotland Douglas Alexander has claimed Scotland's financial services remains “scarred” by the financial crash, as he called for renewed confidence in the industry and greater collaboration between government and business to drive economic growth. Mr Alexander t

The Pensions sector has welcomed the Department of Work and Pension (DWP) plans to "resurrect genuine pensions for millions" of private sector workers. As part of the UK Government consultation, around 17m private sector workers now saving into a pension will be given the option of an income in reti

PwC boss says work-from-home policies have had “adverse consequences” for young people, arguing they are holding back those at the start of their careers. Chief executive Marco Amitrano told The Times that policies introduced after the pandemic had “good intentions” but had a

Morningstar DBRS has said the Chancellor’s decision to double the bank surcharge to 6% will be “manageable” for the sector, though UK-focused lenders will feel the greatest impact. The credit rating agency said the decision to increase the Bank Corporation Tax Surcharge from 3% to

Sandy Begbie has blasted Chancellor John Healey over the temporary increase in the bank surcharge announced in his maiden Budget, warning it prioritised short-term politics over the UK’s long-term economic health. The chief executive at Scottish Financial Enterprise acknowledged the "tough tas

Chancellor John Healey has described his maiden Budget as one for “working people”, delivered through “fiscal discipline giving Britain breathing space on the cost of living”, as he looked to banks to temporarily fund the energy support measures. Mr Healey confirmed that bank

Chancellor John Healey will abandon his predecessor Rachel Reeves’ “car crash” ISA reforms in his maiden Budget later today, according to reports. The Chancellor will reverse the decision to cut the Cash ISA allowance from £20,000 to £12,000, which was set to come into

Economists have predicted that John Healey’s first-ever Budget will likely omit clear plans to reform taxes, curb the welfare bill and boost defence spending, in a move that would kick “tough decisions into the long grass”. Mr Healey is expected to delay several major financial dec

The Scottish Government is exploring new ways to privately finance major public infrastructure projects, with the Scottish Futures Trust leading work on alternative funding models as pressure on public finances constrains capital spending. The trust is working with the market on a revised approach t

Chancellor John Healey is set to increase taxes on Britain’s banks to help plug a hole in the UK Government’s finances caused by rising borrowing costs. Mr Healey is considering options for raising more revenue from Britain’s financial institutions ahead of the Budget on 28 October

The UK Government has announced Edinburgh will host the G20's annual finance meeting next summer. Central bank governors and finance meetings will meet at the Edinburgh International Conference Centre on July 8 and July 9, as part of a series of events around the G20 Leaders' Summit in Manchester in

The International Monetary Fund (IMF) has praised the UK Government for taking "decisive measures to cut future spending and raise taxes as it urged ministers to "stay the course" ahead of its upcoming Budget. Kristaline Georgieva, the institution's managing director, claimed Britain's budget defici

The UK Government has launched a consultation on rewarding whistleblowers who report economic crime such as fraud and bribery. The Government’s move would bring Britain closer to the US model, where financial incentives are used to encourage whistleblowers who provide evidence that helps uncov

Baillie Gifford US Growth Trust chair Tom Burnet has written to the Secretary of State for Scotland Douglas Alexander and Economic Secretary Lucy Rigby urging the Government to help protect the UK investment trust industry from activist hedge funds. Burnet has been calling on retail investors to vot