Shadow Chancellor slams inheritance tax changes as an “absurdity” February 26, 2025 Shadow Chancellor Mel Stride has slammed proposed changes to business tax relief, saying that the policy will force many to “shut down or be forced to sell”. Stride’s comments echo those of prominent businesspeople and politicians who have been railing against the higher taxes announced in Labour’s budget for the last four months. “British institutions, [...]
‘Productivity argument’ against family firm tax breaks, IFS director argues February 25, 2025 There is a “productivity argument” against treating family businesses “generously”, the Institute for Fiscal Studies (IFS) director has argued, when asked about inheritance tax. Economist Paul Johnson addressed the National Farmers Union (NFU) conference in Westminster on Tuesday, which saw environment secretary Steve Reed’s speech interrupted by farming protestors, as well as NFU president Tom [...]
CBI boss warns Rachel Reeves’ farm tax will undermine growth push February 25, 2025 Speaking at the National Farmers' Union's (NFU) conference, Newton-Smith said there was no sector more "foundational" to the UK economy than farming.
Reform UK call for windfall tax on renewable energy in anti-net zero push February 12, 2025 Reform UK has said they would introduce a windfall tax on renewable energy as they announced they were “serving notice” on the industry. The party has detailed a set of “policies to undo the effects of net zero”, in the wake of a series of polls and voting intention surveys that saw it beat Labour [...]
CBI boss: ‘Not realistic or right’ to decouple from China February 5, 2025 Rain Newton-Smith, head of the UK’s leading business group, will urge the government to ignore the “siren call of protectionism” amid mounting tensions in the global economy. In a speech set to be delivered later today, the chief executive of the Confederation of British Industry (CBI), will call on the government to forge deeper ties [...]
UK economy: Firms prepare to cut staff as they brace for slowdown, CBI says January 27, 2025 A persistent slowdown in activity among private sector firms could weigh on economic growth over the coming months, with businesses set to cut staff and raise prices, according to a survey. The upcoming increase to national insurance contributions has prompted firms to assess their budgets urgently, the Confederation of British Industry (CBI) said. Output across [...]
CBI chair Rupert Soames: Reeves has created a ‘hole in the trust of business’ January 13, 2025 Rachel Reeves has created a “hole in the confidence and trust of business” by using the private sector to fill a £22bn hole in the government’s finances, the chair of the UK’s top business body has said. Rupert Soames, chair of the Confederation of British Industry, said the Chancellor had “bruised” British companies after rolling [...]
Kemi Badenoch not planning to announce big policies for two years January 9, 2025 Kemi Badenoch is reportedly not planning to announce big policies for the next two years as she plans to focus on rebuilding voters’ trust. The Conservative leader is said to have told her shadow cabinet on Tuesday that she has a “three-year plan” based on transforming her party’s fortunes following the July election defeat, according [...]
‘Hammer blow’: Family firms call for inheritance tax consultation December 16, 2024 Family businesses are urging the government to consult on changes to inheritance tax (IHT), warning the move represents a “hammer blow” to the UK economy. Some 160,000 family-owned firms – represented by 32 trade associations – have written to Chancellor Rachel Reeves to request a formal consultation on IHT changes in the Budget. The letter, [...]
CBI downgrades forecast for UK economy after Budget December 6, 2024 The UK economy is set for slower than expected and “unimpressive” growth in 2025 thanks partly to punitive measures introduced in October’s Budget, a leading business group has predicted. The Confederation of British Industry (CBI) now expects Britain’s economy to grow by just 1.5 per cent next year, it said in its latest economic forecast, [...]