uk-economy
FinanceSterling Ticks Higher as Investors Expect Fewer BoE Rate Cuts
Top StoriesInflation-Boosting UK Budget Hits Bets on Bank of England Rate Cuts
Top StoriesUK’s Reeves Faces Heat for Weak Growth Despite Tax-And-Spend Budget
FinanceLondon’s FTSE 100 Falls After Labour’s First Budget
Factbox-Key Measures in UK Labour Party’s First Budget in Nearly 15 Years
Date: October 31, 2024
LONDON (Reuters) – British finance minister Rachel Reeves presented her first budget statement to parliament on Wednesday, unveiling the biggest tax rises since 1993 and changes to the government’s fiscal rules to increase borrowing for investment. Below are the main points from her speech: NEW FISCAL RULES Reeves said she would eliminate the current budget...
Pubs, Bookies and Builders Drive Budget Bounce for UK Mid-Caps
Date: October 31, 2024
By Lucy Raitano LONDON (Reuters) – UK mid cap stocks enjoyed a lift on Wednesday as market players deemed the new Labour government’s first UK budget to be less punitive on businesses than many had previously feared. Mid-cap stocks outperformed the blue-chip index, even as UK finance minister Rachel Reeves announced a raft of new...
Stocks Slip as Investors Weigh US Election Risk, Earnings
Date: October 30, 2024
By Tom Wilson LONDON (Reuters) – Shares globally slipped on Wednesday as the investors stayed wary ahead of the U.S. election, while British stocks fell as the UK government unveiled major tax hikes, and gold hit a record high in the wider risk-off mood. With tepid appetite for risk, the Euro STOXX 600 fell 1.3%...
UK’s Reeves Announces Rise in Capital Gains Tax for Most Assets
Date: October 30, 2024
By Alistair Smout LONDON (Reuters) – British finance minister Rachel Reeves on Wednesday said capital gains tax for most assets would increase to 18% from 10% at the lower rate and increase to 24% from 20% for higher earners, saying changes to the regime would raise 2.5 billion pounds. The increase in capital gains tax...
UK’s Reeves Raises Employers’ National Insurance Contributions
Date: October 30, 2024
LONDON (Reuters) – Finance minister Rachel Reeves said on Wednesday she would raise employers’ social security contributions to 15% from April, a major revenue raiser for a budget the government hopes will kick-start moves to turn around a flagging economy. Britain’s Labour government has long said those with the “broadest shoulders” should do more to...
UK Economy Forecast to Grow 2.0% in 2025, Finance Minister Says
Date: October 30, 2024
LONDON (Reuters) – Britain’s economy is forecast to grow by 2.0% next year, finance minister Rachel Reeves said on Wednesday, citing the latest projections from the Office for Budget Responsibility. The new figure compared with a growth forecast for 2025 of 1.9% in the OBR’s previous outlook published in March, when the former Conservative government...