Audit Watchdog Risks Becoming Empty Shell as Reforms Stall
The Financial Reporting Council faces an exodus of leadership after government abandons audit reform legislation, raising concerns about regulatory effectiveness in corporate governance.
Category : City Finance
NY Wealth Tax Targets High-Value Property Owners
New York lawmakers propose a new wealth tax targeting high-value property owners, aiming to address inequality and fund public services amid economic pressures.
UK Plans National Payment System to Challenge Visa and Mastercard
Banking leaders are discussing a UK-based payment network by 2030, aiming to enhance financial security and reduce reliance on American giants Visa and Mastercard.
FCA Focuses on Quality Regulation to Support Growth
Dame Meg Hillier calls for clarity on risk tolerance as regulators balance growth and oversight. The FCA emphasizes effective regulation over binary debates about rulebook size.
Dutch Wealth Tax Reform Could Influence UK Policy
The Netherlands' new capital gains tax on unrealised profits raises questions about fairness and feasibility, with potential implications for the UK's wealth tax discussions amid legal and political pressures.
London Council Tax Increases for 2026-27: Borough-by-Borough Guide
Council tax is set to increase in 33 London boroughs from April 2026, with most raising rates by 4.99%. Discover the exact percentages and costs for each borough, including exceptions like Wandsworth and Westminster.
UK Banks Plan Visa, Mastercard Alternative Over Trump Fears
UK bank bosses are holding talks to establish a national payments network, aiming to reduce reliance on US-owned Visa and Mastercard amid concerns over potential disruptions.
Australia's $54 Trillion Inheritance Boom
Australia is set to witness a massive $54 trillion wealth transfer through inheritance, raising critical questions about economic equality and social impact.
Australia's $5.4tn Wealth Transfer Threatens Social Mobility
Australia faces a massive $5.4 trillion intergenerational wealth transfer over the next two decades, threatening social mobility, economic equality, and faith in the fair go principle.
Treasury Weighs Tobacco Tax Freeze Amid Black Market Surge
Australia's Treasury is modeling tobacco price impacts as experts call for excise freeze to combat booming illicit trade costing billions in lost revenue.
NS&I Modernization Costs Soar to £3bn in Disaster
A parliamentary watchdog condemns NS&I's £3bn modernization program as a 'full-spectrum disaster,' exposing taxpayers to unacceptable risk with little progress.
Labour Leaders Attack Government's Pub Tax Regime
Angela Rayner and Andy Burnham condemn punitive business rates and tax policies harming pubs and hospitality venues, calling for urgent relief measures.
Australian Millionaires Face Higher Taxes as Super-Rich Targeted
Australia's super-rich, including millionaires, are set to face higher taxes as part of a new policy targeting wealth inequality and boosting public revenue.
Young Adults May Have £2k+ in Forgotten Child Trust Funds
Young people born between 2002-2011 could have over £2,000 in dormant Child Trust Fund accounts they don't know about. HMRC urges checking via government locator tool.
DWP Rule Blocks Pensioners from £7,000 Annual Support
Around 60,000 mixed-age couples are being denied Pension Credit under controversial DWP rules, with some losing up to £7,000 yearly, pushing many into severe financial hardship.
Downing Street Resignations Trigger Bond Market Jitters
UK gilt yields rise after communications chief Tim Allan resigns, following chief of staff Morgan McSweeney's departure, raising questions about Keir Starmer's leadership stability.
Trusts Rise as Inheritance Tax Looms for More Families
HMRC data reveals a significant increase in trust registrations as families use this legal tool to mitigate inheritance tax liabilities amid frozen thresholds and policy changes.
Khan Must Explain How London's Extra Cash Will Be Spent
London Assembly demands Mayor Sadiq Khan clarify spending of £300m+ surplus from business rates and school meal savings in next year's budget.
FSB Warns of 'Fire Sale' Risks in $16trn Repo Market
The Financial Stability Board urges regulators to monitor leveraged trades in repo markets that could amplify financial stability risks and trigger asset dumping.
PSR Abolition Not Expected Before 2027
The head of the Payment Systems Regulator states the watchdog won't be abolished earlier than Q1 2027, amid criticism of slow sector reforms and ongoing consolidation into the FCA.
HMRC Error Charges Taxpayer £450 Monthly for Stranger's Job
A Lancashire resident faces £450 monthly extra tax after HMRC mistakenly linked another person's employment to their NI number, revealing sensitive payroll details.
BoE's Breeden: UK Risks Lagging on Payments Innovation
Bank of England deputy governor Sarah Breeden warns that rival nations like Sweden and Brazil have overtaken the UK in payments innovation, calling for urgent development of next-generation systems including a digital pound.
UK's Biggest Taxpayers: Betfred Brothers Top List
The Sunday Times Tax List reveals the UK's highest contributors, with Betfred's founders paying £400m. Celebrities like Harry Styles and Erling Haaland also feature prominently.
UK Top 100 Taxpayers: Betfred Brothers Lead £5.7bn List
The Sunday Times Tax List 2026 reveals the UK's top 100 taxpayers, with Betfred's billionaire brothers paying £400.1m. Harry Styles, Erling Haaland, and JK Rowling feature in the record £5.7bn total contributions.
UK's Top Taxpayers Revealed: Betfred Brothers Lead List
Betfred founders Fred and Peter Done paid over £400m in tax, topping The Sunday Times' list. Analysis shows the wealthiest contributed £5.6bn amid Labour's tax reforms targeting high earners.
NY Officials Warned on Israeli Bond Investments
A human rights group has cautioned New York state and city officials that investing public funds in Israeli bonds may breach international law and fiduciary duties, exposing them to significant legal and financial risks.
Islington Council Promises Green Space Covering Emirates 5 Times
Islington Council's finance chief pledges new green space equivalent to five Emirates Stadiums while defending budget cuts to back office and children's services.
Bank of England 'Woke' Row Over ESG Banknote Printer
The Bank of England faces political backlash for requiring its new banknote printer to meet strict ESG, diversity and carbon reduction standards in a £900m contract tender.
High Court Urgent Hearing on Labour Inheritance Tax
The High Court has approved an urgent hearing challenging Labour's inheritance tax reforms affecting farmers and family businesses, with claimants arguing the consultation process was unlawful.
Banks Push Back BoE Rate Cut Predictions Amid Inflation
Major banks revise Bank of England interest rate cut forecasts from February to March as inflation data surprises, with economists divided on 2026 monetary policy path.
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