‘We lost a third of our orders after the Tories raised taxes’

Small businesses were once the backbone of the UK economy. But the reality is bringing more and more sleepless nights, relentless fear and bank overdrafts as inflation wipes out Britain’s entrepreneurial dream. Many survived months of lockdown and then faced rising wholesale prices, huge jumps in energy costs and customers cutting back on non-essential expenses. … Read more

Shell reconsiders £25bn investment in UK energy after windfall tax break

In his speech at the annual conference of the Confederation of British Industry on Monday, the prime minister defended the autumn statement and stressed that the budget had restored confidence and stability. He acknowledged that “more needs to be done” but said the government’s decision to protect research and development spending would spur innovation and … Read more

Jeremy Hunt has brought a wrecking ball to the British economy

Jeremy Hunt’s fall statement has us facing hefty tax hikes and spending cuts to avoid a major “fiscal gap” created by the need to bring the debt ratio down by 2027-2028 – the new “fiscal rule”. But it will exacerbate the recession and, ironically, will also wreak havoc on public finances. Government borrowing is an … Read more

Middle earners are under further pressure as Hunt plans ‘social tariffs’ for energy

Middle-class workers will already bear the brunt of Mr. Hunt’s tax hikes in the fall statement. The Chancellor’s decision to protect retirees and benefit recipients while taxing workers and businesses is expected to push the tax burden to an all-time high and increase the size of the state to proportions not seen since the 1970s, … Read more

Two million pay 60 percent income tax

Sean McCann, of NFU Mutual, said: “By then, the threshold will not have changed for 18 years, dragging more and more people into the higher marginal tax rate as salaries rise to keep up with inflation.” He added: “Income between £100,000 and £125,140 is effectively taxed at 60 per cent, and if you add in … Read more

Tax increases are looming, but OBR forecasts have been wrong for years

During his long reign as Chancellor alongside Tony Blair, Brown exercised an iron grip on Treasury Department policymaking, micromanaging every decision made and extending his influence to every corner of the government machine. With a determination to vastly increase the size of the state while maintaining a facade of caution, critics accused Brown of manipulating … Read more