Tax black hole

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Tax Reforms Increase in VAT: Adjusting the Value Added Tax (VAT) rate could generate substantial revenue. Pension Tax Relief: Limiting pension tax relief to the basic rate of income tax could raise around £15 billion per year. Pension tax relief raid. Windfall Tax: Increasing the windfall tax on the profitsRead More →

UK growth lower

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The UK’s economic growth for the period between April and June 2024 was lower than initially estimated, as reported by the ONS The Gross Domestic Product (GDP), which quantifies the economic activity of companies, governments, and individuals within a country, increased by 0.5%, a revision from the preliminary figure ofRead More →

UK luxury shopping

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Labour’s proposal to dismantle the UK’s non-dom tax system may lead to an exodus of the ultra-wealthy, as advisors and research bodies have cautioned. Switzerland, Monaco, Italy, Greece, Malta, Dubai, and the Caribbean are becoming popular relocation destinations, sensing the apprehension among affluent investors. Meanwhile, London’s super-prime real estate marketRead More →

UK inflation

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UK inflation was reported at 2.2% for August 2024, according to the Office for National Statistics (ONS) data released on Wednesday 18th August 2024 The consumer price index (CPI) figure aligned with the forecasts of analysts and remained consistent with July’s inflation rate of 2.2%. Previously, the headline CPI hadRead More →

Critical data centres UK

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UK data centres are set to be classified as critical national infrastructure (CNI), aligning them with sectors such as emergency services, finance, healthcare, and utilities This classification will ensure they receive additional government support during major incidents like cyber-attacks, IT outages, or severe weather, to reduce disruption. Data centres, largeRead More →

UK economic health

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The UK’s economy did not experience growth in July 2024, continuing the stagnation from June 2024, as indicated by official data Analysts had anticipated a modest growth of 0.2% for July. However, the Gross Domestic Product (GDP) fell short of the expectations set by economists surveyed by Reuters, who hadRead More →

House For Sale

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The Australian property listing company REA Group announced on Wednesday that its £5.6 billion ($7.32 billion) cash-and-stock bid to take over Rightmove, Britain’s largest real estate portal, was rejected. REA Group, which is 62% owned by Rupert Murdoch’s News Corp, reportedly did not provide a reason for Rightmove’s refusal ofRead More →

UK GDP growth

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The U.K. economy grew by 0.6% in the second quarter of 2024, the Office for National Statistics said Thursday 15th August 2024, in line with expectations. The data release follows an expansion of 0.7% in the first quarter of 2024. Economic growth was flat in June, in line with forecasts. TheRead More →

UK inflation

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The UK’s inflation rate has risen for the first time this year, official ONS figures show. This indicates that overall prices increased by 2.2% in the year leading up to July, a rise from 2% in June, surpassing the Bank of England’s target. The anticipated increase is primarily attributed to theRead More →

Stocks up

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U.S. shares gained on Tuesday 6th August 2024, signalling a tentative stabilisation in global markets after a period of significant declines. The Nasdaq, known for its tech-centric portfolio, along with the Dow Jones Industrial Average and the S&P 500, all ended the day in more positive territory. This ‘lift’ cameRead More →

AI supercomputer mainframe

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A real set-back for UK AI global ambition The new Labour government has withdrawn £1.3bn in funding previously pledged by the Conservatives for technology and Artificial Intelligence (AI) initiatives. This includes £800m allocated for the development of an exascale supercomputer at Edinburgh University and an additional £500m for the AIRead More →

Pound Sterling

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The pound reached its highest level against the dollar in a year on Wednesday 17th July 2024, as investors wagered that UK interest rates would remain elevated for longer. New data released on Wednesday 17th July 2024 indicated that inflation was more persistent than some analysts had anticipated, leading tradersRead More →

Luxury goods

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Burberry shares slide on Monday 15th July 2024 after the UK luxury fashion group announced a profit warning and a dividend halt and said its chief executive officer (CEO) was being replaced. The maker of the iconic trench coat described a ‘disappointing’ fiscal first-quarter 2025 in a trading update. Burberry reportedlyRead More →

Labour Party win 2024 election

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The U.K.’s opposition Labour Party secured a significant parliamentary majority in the 2024 general election, displacing the incumbent Conservatives after 14 years in power. Labour surpassed the threshold of 326 majority required to govern without coalition support as outgoing Prime Minister Rishi Sunak acknowledged the loss. Sir Keir Starmer, theRead More →

UK election betting scandal

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UK Election betting scandal mars politicians and the police! Just when you think the state of UK politics couldn’t get any worse… it does! The ‘clicky’ inner circles of both the Conservative and of the Labour Party with their mucky little antics – placing bets on the date of theRead More →