Economists have warned that hopes for the Bank of England to make successive interest rate cuts over the next two months have been dampened by the UK government’s latest budget. These interest rate cuts typically reduce borrowing costs for consumers and businesses over time. The likelihood of successive cuts has declined as the market digests … Read more
By Brian Myers | Published 18 seconds ago Financial disclosures released by Disney recently revealed that the mega-corporation’s total spending on the latest Ant-Man movie exceeded the box office despite a staggering budget. Although at first glance it would seem that this turn of events could frustrate studio executives, the losses are greater than it … Read more
It was a week dominated by one of the most fascinating events on the political calendar, the Budget. It was Labor’s first in almost two decades and the first by a female chancellor, Rachel Reeves. I think that’s less important than seeing what Labor does fiscally with its vast majority. But she seems to think … Read more
The Business Secretary is due next week to hold talks with dozens of private sector bosses as the government faces a corporate backlash to Labour’s first financial event in nearly 15 years. Sky News has learned that executives have been invited to join a conference call on Monday with Jonathan Reynolds, in what will mark … Read more
The cost of government borrowing jumped, while UK stocks and the pound rose, as markets digested news of billions in borrowing and tax rises announced in the Budget. while There was no panicThere has been concern about the amount of borrowing and changes to the Chancellor Rachel ReevesWhich she imposed on herself Borrowing rules. When … Read more
First things first: Don’t panic. What you need to know is this. Budget It was not good in the financial markets. In fact, it has fallen as badly as any budget in recent years, with the exception of Liz Truss’s small budget. The pound is weaker. Government bond yields (basically the interest rate the Treasury … Read more
Small businesses have called on the government to “significantly increase” the employment allowance to prevent them having to close after the Budget. Chancellor Rachel Reeves is set to raise National Insurance contributions paid by employers – despite promising not to raise taxes “for working people” – to help plug a £40bn black hole during the … Read more
Lori Williams struggles to make ends meet. Earning a low income with little support, she says she feels like she is “living on the bare bones” and is barely getting by. She is one of a large group of people from low-income families who find themselves in a precarious position, earning too little to comfortably … Read more
A government minister refused to rule out increasing taxes on those with the highest incomes. Stephen Kinnock dodged the question nine times when Sky News correspondent Kay Burley asked whether people earning more than £100,000 a year were “working people”, under Labour’s definition. The Labor Party manifesto pledged not to increase National Insurance, VAT, or … Read more
The Minister of Health warned of “difficult and big choices” in the budget, as he refused to rule out freezing tax thresholds. Wes Streeting told Sky News’ Sunday Morning with Trevor Phillips that the government “can’t fix 14 years in one budget” and there are a lot of choices “we have to make that we’d … Read more