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…
Rachel Reeves has announced an immediate reduction of capital gains tax relief for Employee Ownership Trusts (EOTs) from 100 percent to 50 percent. The move aims to preserve an incentive for these types of companies while supporting government forecasts for increasing revenue from £14bn this year to £30bn by 2030. This is estimated to raise…
A growing industry of Oxbridge-trained coaches is helping wealthy Chinese families navigate British university admissions — and charging huge sums for their services Peter Cui was working in finance in 2017 when he started coaching students back in his home country of China to get into Oxford and Cambridge on the side. The pay in…
The cap on the salary sacrifice scheme will weaken saving incentives for young workers. Rachel Reeves has imposed a cap on salary sacrifice schemes in a move that will raise £5bn for the Treasury in 2029 when it comes into place, according to the Office for Budget Responsibility. “Salary-sacrificed pension contributions above £2,000 will be…
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…
By Zygimantas Mascinskas A floating swimming pool, thousands of residents and a growing restaurant scene are changing the Docklands financial district. But turning office footfall into a neighbourhood economy brings new risks for the businesses expected to make it work. Where Canary Wharf’s docks once served commerce and its towers later came to symbolise London…
Geopolitics is becoming more and more uncertain. As the US and China leverage their economic might, the EU is increasingly focused on de-risking from the two countries. The US has dominated headlines recently with their attacks on Iran and Trump’s incendiary remarks on European allies who are reluctant to support. The White House has persisted…
Chancellor Rachel Reeves announced the lifting of the two-child benefit cap, the controversial measure that prevented families on benefits from claiming support for more than two children. The move was greeted with cheers by Labour MPs who have long opposed the cap, that was introduced by the Conservative government in 2017. The removal of the…
The Government has abolished the stamp duty on share purchases in newly listed companies. The move is aimed at making London a more attractive destination for investment after one of the quietest years on record for new listings. The change scraps a tax that investors paid when purchasing shares in a company going public. The…
UK markets opened slightly up this morning, with sterling higher and gilts showing modest yield movement ahead of the Chancellor’s announcements. FTSE 100 peaked at 9,648, with the FTSE 250 also peaking at 21,974 before midday. The currency, pound sterling, traded modestly with the GBP/USD trading near 1.3171 with markets favoring stability over aggressive moves. Fixed-income…
