Motorists face the prospect of being charged for every mile they drive under radical plans to plug Britain’s black hole in public finances. The Resolution Foundation — a think tank with close links to Labour — has urged Chancellor Rachel Reeves to overhaul motoring taxes, warning that fuel duty revenues are collapsing as drivers switch to electric vehicles. Its proposal ...
When President Donald Trump took the stage at the United Nations General Assembly (UNGA), the teleprompter didn’t work. But no matter — he was about to deliver a series of points he knew well, and one that shattered the typical U.N. script. At times, world leaders shifted uncomfortably in their seats, particularly when he charged that the U.N. had failed ...
Peter Mandelson’s advisory firm has cut off his voting rights and dividend payments after damning emails revealed the extent of his ties to Jeffrey Epstein. Global Counsel — the high-powered advisory firm Mandelson co-founded in 2010 — has moved to sell the Labour peer’s 21% stake and reclassified his shares so that he no longer has any influence over company ...
When people think about London’s economy, manufacturing is not usually the first sector that comes to mind. Yet more than 14,000 manufacturing businesses operate across the capital, many of them micro or small enterprises concentrated in a number of clusters across the city such as Park Royal (West London), Brimsdown Industrial Estate (North London) and Maker Mile (Hackney, East London). ...
Rick Stein’s famed restaurant and hospitality empire has plunged deeper into the red, warning that Rachel Reeves’s tax raid on employers is squeezing jobs and piling pressure on Cornwall’s largest private-sector businesses. The TV chef’s group — which includes restaurants, hotels, shops, a cookery school and an e-commerce business — reported revenues of £18.9m at its flagship Seafood Restaurant (Padstow) ...
HM Revenue & Customs has relaunched a controversial scheme giving it the power to take money directly from people’s bank accounts – including cash Isas – if they repeatedly fail to pay their tax bills. Under the Direct Recovery of Debts (DRD) programme, banks and building societies will be forced to hand over cash owed to the taxman from anyone ...
Manufacturers supplying Britain’s defence, automotive, aerospace and construction sectors have warned that businesses will collapse after government-approved energy charges are set to double. From October 1, standing charges and levies on industrial electricity bills will begin to rise sharply, with the full increase landing in April. Energy brokers said non-commodity costs – the fees for using the grid and funding ...
Jeremy Hunt has accused Rachel Reeves of dragging Britain into “stagnation and decline” by raising taxes, warning that the Chancellor’s policies risk smothering the entrepreneurial drive the country needs. Writing for Conservative Home, the former Chancellor said it was now “all but nailed on” that Reeves will raise taxes by £30bn in November’s Budget — pushing the overall increase in ...
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer met with Chinese Vice Premier He Lifeng and Commerce Minister Li Chenggang in Madrid last week. They announced a ‘framework agreement’ over TikTok, the Chinese-owned app used by millions of Americans. But the story isn’t only about TikTok. It’s also about how America uses TikTok as a lever – and ...
Revolut has pledged to invest £3 billion in the UK over the next five years in a move that will create 1,000 new jobs, strengthening the country’s status as a hub for global financial services. Chancellor Rachel Reeves hailed the announcement as a “vote of confidence in Britain” as she formally opened the fast-growing digital bank’s new global headquarters in ...