Category: Reeves
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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…
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Reeves considers ending salary sacrifice tax breaks for electric vehicles, sparking industry backlash
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Chancellor Rachel Reeves is reportedly considering scrapping tax breaks for salary sacrifice schemes used by tens of thousands of drivers to rent electric cars. The move is likely to deal a major blow to the UK’s march towards widespread electric vehicle adoption. The Treasury is reviewing whether to scrap or…
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Reeves considers ending salary sacrifice tax breaks for electric vehicles, sparking industry backlash
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Chancellor Rachel Reeves is reportedly considering scrapping tax breaks for salary sacrifice schemes used by tens of thousands of drivers to rent electric cars. The move is likely to deal a major blow to the UK’s march towards widespread electric vehicle adoption. The Treasury is reviewing whether to scrap or…
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IMF urges Rachel Reeves to raise taxes and rein in spending to stabilise UK public finances
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The International Monetary Fund has called on Chancellor Rachel Reeves to introduce tax rises and tighten government spending in the next budget, warning that delaying such measures could worsen the UK’s fiscal problems. In a previously released section of the *Comptroller* report, the Washington-based organization highlighted the UK and US…
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Lobby group urges Rachel Reeves to rethink non-dom tax hike to prevent exodus of wealthy residents
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Chancellor Rachel Reeves is facing pressure from lobbyists representing 74,000 non-UK residents to scale back planned tax changes, ahead of her next Budget. The newly formed group, called Foreign Investors for Britain, is due to meet government officials this week to urge a reconsideration of Reeves’ proposed overhaul of the…
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Rachel Reeves faces £25bn tax hike to avoid austerity, says IFS
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Rachel Reeves, the Chancellor of the Exchequer, is expected to introduce a £25bn tax rise in this month’s budget to avoid plunging Britain back into austerity, according to the Institute for Fiscal Studies (IFS). The Financial Services Institute has warned that tax rises would need to be double those introduced…
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Rachel Reeves faces £25bn tax hike to avoid austerity, says IFS
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Rachel Reeves, the Chancellor of the Exchequer, is expected to introduce a £25bn tax rise in this month’s budget to avoid plunging Britain back into austerity, according to the Institute for Fiscal Studies (IFS). The Financial Services Institute has warned that tax rises would need to be double those introduced…
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Next CEO sells £29m stake as capital gains tax reforms loom under Reeves
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Next chief executive Lord Wolfson has sold a £29m stake in the retail giant ahead of potential changes to the capital gains tax (CGT) regime, expected in Chancellor Rachel Reeves’ first Budget next month. New filings reveal that the conservative peer offloaded 290,000 shares between Friday and Tuesday, valuing its…
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Rachel Reeves urges end to remote working in favour of office return
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Rachel Reeves has called on workers to return to the office, stressing the benefits of in-person collaboration, as she prepares to set out Labour’s economic vision at the party’s conference in Liverpool this week. Frankly speaking Interview with The TimesThe Chancellor has rejected the idea of remote working, saying she…
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Rachel Reeves urges end to remote working in favour of office return
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Rachel Reeves has called on workers to return to the office, stressing the benefits of in-person collaboration, as she prepares to set out Labour’s economic vision at the party’s conference in Liverpool this week. Frankly speaking Interview with The TimesThe Chancellor has rejected the idea of remote working, saying she…