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Politics
Reeves confirms that the budget will reverse massive cuts to UK public investment
Rachel Reeves, in her next budget, will promise to reverse massive cuts in public investments after she confirmed rules that limit her spending power would be overhauled so the government could release up to £50bn in infrastructure…
Think-tank of Tony Blair urges the introduction of pay-per-mile road prices across UK
Tony Blair's think-tank says that a pay-per mile road pricing system should be introduced now. It is also urging the chancellor, to overhaul motoring tax.
Rachel Reeves will likely confirm that the temporary cut of 5p in fuel duty is…
BMW wants the ban on petrol and diesel car sales by 2035 to be lifted
BMW has asked the European Commission reconsider its plan to ban all new petrol and diesel engines by 2035.
Oliver Zipse said that the European Union's ban on the sale of zero-emission cars was a response to the "trend towards pessimism"…
Elon Musk is not banned from the UK Investment Summit, according to cabinet minister
A cabinet minister said that Elon Musk could be invited to future UK investment summits, provided he has investment programs the UK can bid for. This was before a major London business event. The remarks were made as a group private equity…
Fears that a spill in Gibraltar could be caused by a shadow fleet transporting Russian oil
The Strait of Gibraltar has seen more than half of the Russian crude oil transported by dangerous "shadow fleets" of vessels pass through this year. This raises concerns about an environmental disaster.
According to a report by the Kyiv…
Macquarie to invest £20bn in Britain as Labour seeks investors
The Australian infrastructure company blamed for the Thames Water crisis is planning £20 Billion of new investment in the UK, as the Labour government attempts to attract international investors to fuel economic growth.
Macquarie will…
Big banks and companies say that Britain is ready to invest.
Before the start of important business talks in London, the biggest banks and corporations around the world said that Britain was ready for investment. It also has "a very real opportunity" to expand its economy.
Five of the largest…
Unilever finally sells a Russian unit to a local tycoon, after years of intense pressure
Unilever sold its Russian subsidiary for €520m to a local group after being criticized for continuing operations in the country following its invasion of Ukraine. Unilever, the London-listed consumer company, has been called a "sponsor" of…
Reeves says wealthy UK citizens will not be subject to a ‘tax on exit’
Rachel Reeves ruled out an exit tax for wealthy people who leave the UK in order to avoid higher taxes, in this month's Budget. Meanwhile, business is bracing itself for a hike in the capital gains tax.
In recent days, the chancellor was…
Rachel Reeves spares PE bosses the top UK tax rate as part of a compromise over…
Rachel Reeves is unlikely to hit the private equity industry with the 45p top tax rate this month, because she's looking for to find a compromise deal to close the tax "loopholes", which doesn't drive investors away from Britain. Reeves…
Eric Schmidt, former Google boss, to attend UK International Investment Summit
Former Google boss Eric Schmidt is one of many high-profile executives who will be attending the first international investment summit organized by the Labour government. Schmidt, former Google chief executive between 2001 and 2011, will…
French Premier Michel Barnier announces tax increases and spending cuts
Michel Barnier, France's new Prime Minister, warned that the repair of the degraded country's public finances would require years of "collective efforts" and announced "temporary targeted" tax increases on large businesses and the wealthy.…
Sources say that Reeves may change the fiscal rules in order to allow for more capital expenditure.
According to sources within the government, Rachel Reeves may change how fiscal rules of the government are calculated in order to allow for billions more pounds to be spent on capital projects. The chancellor said Labour Conference that…
No. 10 prepares for possible defeat in winter fuel vote at Labour Conference
The No. 10 team is preparing for a possible defeat at the Labour Conference, where a vote will be held to condemn cuts in winter fuel allowances. Major trade unions are lining up to support a motion that would reverse Rachel Reeves’…
Can UK avoid the national debt nearly tripling in next 50 years
The Office for Budget Responsibility's crystal ball shows that Britain will be a very different place in 50 years.
It is indeed grim. The government's independent watchdog on spending predicts that if policies remain unchanged, national…
France requests more time from the EU to submit a debt plan
The French government has requested more time from the European Commission to present its plans for debt reduction and deficit reduction. This comes as Michel Barnier, the new prime minister, works to form a government in a context of…
Michel Barnier arrives to fix France’s ‘ungoverned’ state
Michel Barnier, former Brexit negotiator for the EU, now chosen as France's prime minister in order to avoid a crisis of political nature, hasn't always been kind towards his new boss Emmanuel Macron.
The veteran politician, aged 73,…
Italy doubles foreign tax on the wealthy
Italy doubled its flat tax on foreign income for new residents. This is a blow for wealthy expats who are fleeing higher taxes elsewhere in Europe.
The cabinet of Prime Minister Giorgia Mello approved on Wednesday a hike in the annual…