Category: Reeves
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Reeves puts growth first in clash over net zero and Heathrow expansion
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Rachel Reeves, the Chancellor of the Exchequer, has indicated that economic growth must take precedence over net zero targets, creating a potential rift with Energy Secretary Ed Miliband and senior Labor figures who remain opposed to expanding the UK’s largest airports. Speaking at the World Economic Forum in Davos, Reeves…
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UK to review visa system to entice top AI and science talent, says Reeves
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Rachel Reeves has pledged a comprehensive review of the UK’s immigration framework, including potential new visa routes for highly skilled workers in artificial intelligence and life sciences, as part of a wider drive to stimulate economic growth. The Chancellor revealed that a formal report will be published later this year,…
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Reeves leaves door open for March emergency budget
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Chancellor Rachel Reeves has refused to rule out the possibility of setting a full budget in March, sparking speculation about possible tax rises or spending cuts. When Reeves was pressed in Parliament, she instead reiterated her commitment to borrowing rules set out in October, which include balancing day-to-day spending with…
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PM pledges loyalty to Reeves as Labour vote share plummets and Reform gains ground
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Prime Minister Sir Keir Starmer has publicly reiterated his commitment to keeping Chancellor Rachel Reeves in office until the end of the current Parliament, despite new opinion polls showing Nigel Farage’s Reform UK Party closing in on Labor and pushing the Conservatives into third place. Reeves, who cut short a…
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Rachel Reeves’ China visit restores crucial links with world’s second-largest economy
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Deals worth £600m have been concluded, potentially adding £1bn of value to the UK economy, following Chancellor Rachel Reeves’ trip to Beijing. Winnie Cao, head of the China office and China business group at Blake Rotenberg, described the fruitful discussions between Reeves and Vice Premier He Lifeng as a positive…
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Rachel Reeves weighs a ‘hotel tax’ as treasury battles to fill funding gap
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Britons and foreign visitors may soon find themselves paying a “hotel tax” on every night they stay, under Treasury proposals designed to shore up the public purse as borrowing costs continue to rise. The potential tax, part of “modeling exercises” being carried out by officials, mirrors tourist taxes in countries…
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Rachel Reeves to lead Davos 2025 delegation in bid to win over foreign investors
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Rachel Reeves, the finance minister, is preparing to lead a team of ministers and advisers to the 2025 World Economic Forum in Davos, aiming to attract international backers and calm anxiety among local businesses. Reeves, who has attended Davos as a shadow advisor for the past two years, is scheduled…
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Reeves calls for ‘reset’ with EU to spur UK growth amid global trade tensions
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British Chancellor Rachel Reeves is set to call for a “reset” of economic ties between Britain and the European Union, arguing that closer ties would help break down barriers to trade and boost growth prospects for both sides. In the first speech by a British adviser to the Eurogroup since…
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John Lewis CEO criticises Rachel Reeves over ‘two-handed’ tax increase
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Nish Kankiwala, chief executive of the John Lewis Partnership, has accused Chancellor Rachel Reeves of carrying out a “two-handed” tax grab on retailers, as she joined a growing backlash against the latest budget. Kankiwala said John Lewis faces increased recruitment costs and higher turnover after the Budget, which could hamper…
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Reeves reassures on trade as Trump tariffs threaten UK-US economic ties
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British Chancellor Rachel Reeves played down fears of escalating protectionism in light of Donald Trump’s expected new trade tariffs, stressing Britain’s commitment to a strong economic relationship with the United States. In her first comments after Trump’s re-election, Reeves stressed the UK’s determination to support “free and open trade” between…
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UK Bosses Signal Tepid Support for Reeves’ High-Tax Budget
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Breadcrumb links BMN Business Chancellor of the Exchequer Rachel Reeves’ first budget was greeted with cautious optimism by Britain’s business leaders, although high taxes on wages held them back from full support. Article writer: Bloomberg News Chloe Millie Published on November 1, 2024 • 4 minutes read You can save…
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Investment focus drives Rachel Reeves’ strategy to revitalise UK economy
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The UK economy has been mired in low growth rates for years, a problem that has worsened since the 2008 global financial crisis. Despite some short-lived recoveries, average annual growth has remained persistently weak, leading to stagnant living standards. A stark indicator of this trend is that real wages in…
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Economists and Activists Call on Rachel Reeves to Introduce Wealth Tax in Inaugural Budget
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Chancellor Rachel Reeves is facing renewed calls to introduce a wealth tax, with economists, climate campaigners and high-net-worth individuals urging her to impose a tax on the UK’s wealthiest citizens to help fund essential public services and accelerate the transition to net zero. . In an open letter to the…
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Economists and Activists Call on Rachel Reeves to Introduce Wealth Tax in Inaugural Budget
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Chancellor Rachel Reeves is facing renewed calls to introduce a wealth tax, with economists, climate campaigners and high-net-worth individuals urging her to impose a tax on the UK’s wealthiest citizens to help fund essential public services and accelerate the transition to net zero. . In an open letter to the…
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Rachel Reeves to introduce new debt rule, unlocking £50bn for UK investment
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Chancellor Rachel Reeves has announced a major shift in the UK’s fiscal policy framework, confirming plans to introduce a new rule for “investment” debt in next week’s Budget. This change is expected to free up more than £50 billion of borrowing capacity, allocated for long-term capital investment projects, while maintaining…
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Reeves collects record £2.2bn from ‘death tax’ ahead of Budget
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Chancellor Rachel Reeves took in a record £2.2 billion in inheritance tax (IHT) receipts in the three months leading up to September, as anticipation grows for potential tax changes in her upcoming first Budget. According to figures from the Office for National Statistics (ONS), inheritance tax brought in £736 million…
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Reeves collects record £2.2bn from ‘death tax’ ahead of Budget
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Chancellor Rachel Reeves took in a record £2.2 billion in inheritance tax (IHT) receipts in the three months leading up to September, as anticipation grows for potential tax changes in her upcoming first Budget. According to figures from the Office for National Statistics (ONS), inheritance tax brought in £736 million…
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UK at ‘massive global disadvantage’ over tourist tax, retail bosses warn Rachel Reeves
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Retailers have called on Chancellor Rachel Reeves to scrap the so-called “tourist tax”, warning that Britain is losing billions in economic growth as tourists choose to shop elsewhere in Europe. In a letter signed by more than 300 chief executives, including leaders from John Lewis, British Airways, Fortnum & Mason…
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what Rachel Reeves could announce
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As the Labor government prepares to present its first Budget on October 30, anticipation is building as businesses and individuals alike prepare for potential tax changes and spending shifts. Chancellor Rachel Reeves has made it clear that tax increases are inevitable, describing them as necessary to restore financial and economic…