by Christopher McEvedy https://drive.google.com/file/d/1WH0xUPIdz5LmytiGJy6osRQpklOsAy47/view?usp=share_link The utility and wisdom of the EPL has been raised once more since the Israel-US war on Iran began, and the consequent rises in oil and gas prices. The UK’s EPL was introduced by the Conservative government of Boris Johnson in 2022, in the wake of large energy company profits following…
The minimum wage will increase by 4% in April with even bigger increases for younger workers, under plans announced in the Budget on Tuesday. Over-21s will see their minimum wage rise by 50p to £12.71 an hour while, for those aged between 18-20, it will rise by 85p to £10.85 an hour. For 16 and…
FTSE 100 temporarily dipped slightly after the premature release of budget details, but bounced up and ended higher than the previous day. The index rose 0.85 percent, closing at 9,691, a sign that markets were not overly rattled by the budget announcement. Michael Brown, analyst at Pepperstone, believes the leaked document gave investors information and…
The government will freeze the 5 pence per litre fuel duty until September 2026, when it will be replaced by a 3 pence per mile for electric cars from 2028. The change will cost £2.4bn next year and £900mn annually thereafter, according to the Office for Budget Responsibility. The move, alongside the Fuel Finder scheme…
A government paper released alongside the budget announced that limited new North Sea oil and gas production will be allowed but ruled out further exploration or a tax reduction. A new class of permits, known as ‘Transitional Energy Certificates’, will allow oil and gas companies to expand extraction near existing oil fields as long as…
Welcome to our live coverage of the UK Budget. Chancellor Rachel Reeves will deliver her Budget speech at 1230gmt. The live blog is now closed. Please see our in-depth coverage to read more. 1750gmt End of Budget Day Market Wrap Up By Carla Rosch The FTSE 100 temporarily dipped slightly after the premature release of…
From April 1, Britain’s vaping firms start registration with HM Revenue & Customs ahead of a new levy set to take effect on October 1, 2026. The Vaping Products Duty will impose a flat-rate tax on e-liquids and enforce stricter supply-chain controls, including official duty stamps on all products. As prices are expected to rise,…
Owners of homes worth more than £2m will face a new annual surcharge of at least £2,500 a year under plans unveiled in the Budget. Properties valued above £2m by the Valuation Office Agency from April 2028 will incur a recurring levy, paid in addition to council tax. The charge will apply across four pricing…
With manifesto tax pledges looming large ahead of the Budget, attention is turning to how Labour is performing on the rest of its 2024 election promises. Labour’s July 2024 manifesto set out six headline ambitions, ranging from the broad promise to “deliver economic stability” to specific commitments such as recruiting thousands of new teachers. The…
The Office for Budget Responsibility lowered Britain’s productivity forecasts from 1.3% to 1% in the latest Budget, a downgrade which could cut £16bn from the economy by 2030. Productivity growth for 2025 has been downgraded by 0.3 percentage points from the OBR’s March report to 1.0 per cent, implying slower supply-side expansion and weaker revenue…
