By Lawrence White LONDON -Shares in British banks rose on Wednesday as finance minister Rachel Reeves spared them from fresh targeted taxes, following months of speculation she might increase a levy on the sector to help plug the gap in public finances. Reeves made no mention of any tax increase specific to banks in her speech, …
UK bank shares rally as sector dodges fresh taxes in budget Read More »
LONDON (Reuters) -Sterling and UK government bond prices edged up on Wednesday in volatile trade as Britain’s finance minister Rachel Reeves delivered a highly-anticipated budget. Britain’s government will have almost 22 billion pounds ($28.9 billion) in fiscal headroom in five years’ time, according to estimates by the country’s budget watchdog published on its website on …
Sterling, UK bond prices rise as Reeves’ budget delivers more headroom Read More »
By Naomi Rovnick LONDON (Reuters) -UK finance minister Rachel Reeves on Wednesday slashed a pensions tax perk that delivers savings to employers of Britain’s highest paid workers, with the government forecast to raise an extra 4.7 billion pounds ($6.18 billion) in 2029/30. The reduction of the so-called salary sacrifice allowance was among the biggest tax-raising …
UK to slash pensions perk, hitting high earners hardest Read More »
LONDON (Reuters) -Britain’s government will increase tax rates on dividends, property and savings by 2 percentage-points, finance minister Rachel Reeves said in a budget statement, saying the move would help make the tax system fairer. Reeves said she was increasing the taxes on some sources of income which are taxed less as they don’t have …
UK to raise dividend, property and savings tax rates by 2 percentage points Read More »
LONDON (Reuters) -British finance minister Rachel Reeves is delivering her annual budget on Wednesday, unveiling billions of pounds in tax increases. Here are some of the main quotes from her speech to parliament: ON OFFICE FOR BUDGET RESPONSIBILITY RELEASING OUTLOOK EARLY “It is my understanding that the Office of Budget Responsibility’s economic and financial outlook …
LONDON (Reuters) -British finance minister Rachel Reeves said on Wednesday that she plans to reform the ‘motability’ scheme, which allows people with disabilities to lease cars using state funding, in order to curb what she described as “generous” taxpayer subsidies. The scheme lets those who are eligible for a publicly-funded allowance towards improving their mobility …
UK reforms ‘motability’ scheme to curb ‘generous’ taxpayers subsidies Read More »
By Foo Yun Chee LUXEMBOURG (Reuters) -Meta Platforms on Wednesday hit out at EU antitrust regulators for what it said were “aberrant” requests for information during two investigations four years ago, underscoring the increasing pushback by companies against what they see as disproportionate regulatory demands. Meta, which had previously likened such EU demands related to …
Meta slams EU’s ‘aberrant’ antitrust demands for data on Facebook Read More »
LONDON (Reuters) -Britain will exempt new London Stock Exchange listings from stamp duty tax for 3 years, the government announced on Wednesday, in a bid to revive the country’s struggling stock market. UK finance minister Rachel Reeves announced the tax holiday as part of the Labour government’s second annual budget in an effort to arrest …
UK to remove stamp duty tax from newly London-listed shares for 3 years Read More »
By Libby George LONDON (Reuters) -Artificial Intelligence is not a core part of operations at most of the world’s central banks and digital assets are off the table, according to a survey released on Wednesday by the Official Monetary and Financial Institutions Forum. The working group of 10 central banks from Europe, Africa, Latin America …
World’s central banks are wary of AI and struggling to quit the dollar, survey shows Read More »
LONDON (Reuters) -British consumer price inflation is set to average 2.5% in 2026, according to estimates by the Office for Budget Responsibility published on its website on Wednesday ahead of finance minister Rachel Reeves’ budget statement. In March, when Reeves announced a half-yearly budget update, the OBR said it expected inflation of 2.1% in 2026, only …
UK inflation to average 2.5% in 2026, OBR forecasts Read More »
