The UK hospitality industry is warning of a £900 million hit as business rates are set to quadruple in spring 2024. Industry leaders are urging Chancellor Rachel Reeves to reform the system before it’s too late.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Estate agents’ books fill up as mortgage rates drop, easing pressure on house prices
Estate agents in the UK have the most homes listed in over a decade as falling mortgage rates attract more buyers, stabilising house prices. Find out how this is shaping the housing market recovery.
Make UK backs Labour’s industrial strategy, sees surge in investment potential
Make UK supports Labour’s industrial strategy, predicting billions in investment and reshoring. The manufacturing sector could see growth with tax incentives and a push for green technologies under the Invest 2035 plan.
Capital Gains Tax concerns loom over UK tech sector ahead of Autumn Budget
The UK tech sector faces growing concern over potential Capital Gains Tax rises in the upcoming Autumn Budget, with fintech leaders warning of an exodus.
UK retail sales rise unexpectedly in September despite economic uncertainties
UK retail sales rose unexpectedly in September, defying analyst predictions of a contraction, as consumers increased spending on technology despite impending tax rises and economic uncertainties.
Reeves considers ending salary sacrifice tax breaks for electric vehicles, sparking industry backlash
Chancellor Rachel Reeves may scrap tax breaks for electric vehicle salary sacrifice schemes, amid claims they favour the wealthy, raising concerns from car industry leaders.
Robert Jenrick: I Can Unite the Tory Party – and Cut 2p Off Income Tax
Conservative leadership hopeful Robert Jenrick has pledged to unite a divided party and introduce economic policies that would see a 2p reduction in income tax.
Elon Musk branded ‘promoter of evil’ by top EU official in clash over online moderation
In a sharp escalation of tensions between Brussels and Elon Musk, one of the European Union’s top officials, Věra Jourová, has branded the billionaire tech entrepreneur a “promoter of evil” over his handling of X, formerly known as Twitter.
Tesco and Shell to power stores and EV stations with output from UK’s largest solar farm, originally meant for homes
Tesco and Shell secure power from the UK’s largest solar farm, Cleve Hill, originally intended to supply 100,000 homes, sparking controversy over greenwashing claims.
Ryanair warns of flight cuts in the UK if Rachel Reeves raises aviation taxes in upcoming budget
Ryanair threatens to reduce UK flights if Chancellor Rachel Reeves raises aviation taxes in her Budget, citing concerns over customer demand and route viability.
Hollywood director accuses Elon Musk of copying designs for Tesla Robots and Cybercab
Hollywood director Alex Proyas accuses Elon Musk of copying robot and taxi designs from his 2004 film I, Robot, after Musk unveils Tesla’s Optimus robot and Cybercab.
IMF urges Rachel Reeves to raise taxes and rein in spending to stabilise UK public finances
The IMF has urged Chancellor Rachel Reeves to raise taxes and control spending in her upcoming budget to address the UK’s rising debt and public finance challenges.
UK inflation dips below Bank of England target to 1.7%, opening door for potential interest rate cuts
UK inflation fell to 1.7% in September, its lowest level since 2021 and below the Bank of England’s 2% target, increasing the likelihood of interest rate cuts next month.
Starmer hints at employer national insurance rise but pledges to keep tax promises for workers
Sir Keir Starmer hints at possible rise in employers’ national insurance, while pledging to uphold Labour’s tax promises for workers. Business leaders warn of risks to jobs as the budget approaches.
International Investment Summit delivers £63bn boost and 38,000 jobs for the UK
The UK is set to create nearly 38,000 jobs and attract £63 billion in investment following the International Investment Summit, which focused on infrastructure, technology, and net zero initiatives.
