Jeremy Hunt is considering a multi-billion-pound tax raid on profits under plans to make those ‘with the broadest shoulders’ bear the brunt of fiscal tightening he is planning to bring in within days to try to revive the economy.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Businesses scrambling to hire staff in heated job market despite recession picking up
Businesses are still desperate for staff, with increases in adverts for occupations including childminders, school secretaries and dental practitioners, new research suggests.
UK employees miss out on £1.3bn in expenses to not look ‘petty’
British workers forgo claiming £1.3bn in expenses at work for fear of looking “petty” according to new research.
One UK nightclub closing every two days over soaring costs, industry says
Nightclubs are closing at a rate of one every two days amid soaring inflation, according to figures from the Night Time Industries Association (NTIA).
Non-dom tax breaks being reviewed by the Treasury in effort to raise revenue
Treasury officials are examining whether the autumn statement could include changes to non-dom status and moves to raise taxes on dividends by cutting tax-free allowances.
Elon Musk to start cutting Twitter workforce
Elon Musk is to start reducing Twitter’s workforce today, the company has told staff, a week after completing his $44 billion takeover.
New Business Secretary announces £95m funding for super-materials to boost UK growth
Business Secretary Grant Shapps has announced a £95 million boost to develop the super-materials of the future, supporting research and innovation in advanced materials at the Henry Royce Institute, headquartered in Manchester.
Interest rate rises to 3 per cent after Bank of England vote
The Bank of England has delivered its biggest interest rate rise in more than three decades as it warned of the longest recession on record.
Bank of England expected to deliver biggest interest rate rise in 30 years
The Bank of England is expected to make its largest interest rate rise since Black Wednesday in September 1992 today as it battles to bring double-digit inflation back to its 2 per cent target.
Virgin Atlantic braces for economic turbulence as air traffic softens from looming recession
The boss of Virgin Atlantic anticipates some softening of demand for air travel from the looming recession but says bookings are holding up for now.
Europe gas prices set to tumble in the new year
Gas prices in Europe will fall by as much as 30 per cent by early next year before rising sharply next summer, analysts at Goldman Sachs have predicted.
Sunak and Hunt prepares big tax grab from energy firms
Rishi Sunak and Jeremy Hunt are planning to extend windfall taxes on oil and gas companies to raise an estimated £40 billion over five years.
Iceland boss urges Sunak to extend free school meals as ‘critical priority’
Rishi Sunak should extend free school meals to all families on universal credit to help with the cost of living crisis, the boss of the UK supermarket chain Iceland has said.
Supply fears as China lockdown hits world’s largest iPhone factory
Chinese authorities have announced a seven-day coronavirus lockdown in the area around the world’s largest iPhone factory, stoking concern that production will be severely curtailed ahead of the Christmas period.
Aston Martin shares slide 15% as it struggles to source car parts
Aston Martin shares slid after the company revealed it would deliver fewer cars than expected this year as it struggled to source certain parts due to supply chain problems.
