Wealth tax on UK super-rich could raise £10bn a year
A wealth tax on the UK's super-rich could raise £10bn annually, affecting fewer than 1,000 households with over £100m in assets, according to academics urging Andy Burnham to adopt the measure.
Category : Budget Finance
Burnham's VAT cut on electricity bills explained
Andy Burnham cuts VAT on electricity to 0% for six months from October, saving typical households £45. But gas heating and debt issues remain.
UK borrows less than expected; job vacancies drop
UK government borrowing fell to £16bn in June, £7.9bn less than last year, as job vacancies dropped to 712,000 and unemployment held at 4.9%.
RBA rate hike odds double as US-Iran conflict drives oil higher
Market odds of a Reserve Bank rate hike have doubled to nearly 30% as renewed US-Iran conflict pushes oil prices near $90 a barrel, threatening Australia's slowing economy.
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Ovarian Cancer Test: Accuracy and Harms Debated
BCAL Diagnostics offers a $1,495 blood test for ovarian cancer, but experts warn of false positives, limited evidence, and potential harm from over-screening.
Where will Andy Burnham find the money to fund his pledges?
Andy Burnham's first major policy, a VAT cut on energy bills, raises questions on funding. With fiscal headroom shrinking, he faces scrutiny over defence spending, tax allowances, and infrastructure investment.
John Healey's Chancellorship: Fiscal Hawk or Big Spender?
John Healey, new UK chancellor, faces balancing fiscal discipline with funding PM's promises. Known for diligence and bridging party factions, he must decide on spending.
Burnham announces £850m electricity tax cut
Andy Burnham announced an £850m tax cut on electricity bills, his first major policy to tackle the cost-of-living crisis, vowing a 'cost-of-living government'.
Burnham Urges Cabinet to Tackle Cost-of-Living Crisis
Andy Burnham tells his new cabinet to examine 'all possible ways' to help families with high costs, aiming to be a 'cost-of-living government'.
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Will Burnham raise personal tax allowance from £12,570?
New PM Andy Burnham has hinted at supporting a rise in the frozen £12,570 personal allowance. A petition for £18,000 threshold nears 40,000 signatures.
Man fined £400 for groping girl on Harry Potter tour
Abdul Barkeeh Salihi, 24, fined £400 for sexually assaulting a 14-year-old girl during a Harry Potter sightseeing tour in Leadenhall Market, London. He also slapped a woman's bottom earlier that day.
City of London Corporation projects £70m deficit
The City of London Corporation now forecasts a £70.2m deficit by 2029/30, nearly £10m higher than earlier projections, due to inflation and government Fair Funding reforms.
Burnham scraps VAT on electricity bills in first PM move
Andy Burnham has removed VAT from household electricity bills from October 1, saving around £45 off the energy price cap. The move is funded by cancelling the Digital ID programme, but Labour figures dispute the funding.
Andy Burnham announces £45 energy bill cut for every household
Andy Burnham, on his first full day as Prime Minister, announces a VAT cut on electricity bills, saving each household £45 and reducing inflation by 0.1%.
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John Healey Named Chancellor by Andy Burnham
John Healey, former defence secretary who resigned over Starmer's defence plan, has been appointed chancellor in Andy Burnham's first Cabinet. He will oversee raising military spending to 3% of GDP by 2030, possibly through defence bonds.
John Healey Appointed UK Chancellor in Surprise Move
John Healey has been appointed UK Chancellor of the Exchequer, a surprise move that reshapes economic policy expectations. The City reacts to the unexpected cabinet change.
Thames Water creditors seek talks with new PM on public control
Investors in Thames Water are willing to explore increased public control as new PM Andy Burnham considers temporary nationalisation of the debt-laden utility.
Modest US rate rise won't affect most businesses
A 25-basis-point interest rate increase won't meaningfully change borrowing costs for established small businesses, according to business owner Gene Marks.
Whistleblower: Tube users breathing in toxic waste
A former London Underground worker says passengers are inhaling hazardous dust containing asbestos, after a tribunal ruled his safety complaints were valid.
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GMB members reject City of London pay offer
GMB Union members at the City of London Corporation, including workers at Tower Bridge and Hampstead Heath, have rejected a pay offer of 3.5% amid concerns over London Weighting consolidation.
Schoolboy dies on Malawi snorkelling trip
A 17-year-old from London died after being found underwater during a school snorkelling trip in Lake Malawi, police confirmed.
British Steel Nationalised to Save UK Supply
British Steel has been taken into public ownership after the government stepped in to prevent closure of its Scunthorpe steelworks, saving 4,000 jobs. Keir Starmer says it's in the national interest.
MS drugs to stay on PBS amid US pricing pressure
Health minister confirms Ocrevus, Kesimpta and Lemtrada remain subsidised after PBAC review, as drug companies push for higher prices and Trump policy looms.
US gas prices hit $5 diesel, $4 gas amid Iran tensions
Average US diesel tops $5 a gallon, regular gas nears $4 as renewed US-Iran tensions over the Strait of Hormuz drive up prices, says AAA.
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British Steel nationalised, UK GDP up, Uber buys Delivery Hero
British Steel taken into public ownership; UK GDP grew 0.1% in May; Uber to acquire Delivery Hero for $14.8bn; Ocado profits fall sharply.
Draft London Plan sets 558,000 home target, below 850,000 goal
The Draft London Plan aims for 558,000 homes by 2037, far short of the government's 850,000 target, with affordable housing thresholds varying by borough and limited Green Belt release.
Palantir's UK state foothold: investigation reveals concerns
Investigation finds Palantir's NHS contract underperforms, with low usage and vendor lock-in risks, amid paid-for political access and threadbare regulations.
Extreme heat divides the world: those with AC and those without
Access to air conditioning is becoming a matter of survival as extreme heat worsens inequality between wealthy and lower-income countries, argues Mark Wolfe.
US bank traders hit record $54bn amid war and AI volatility
US bank traders generated a record $54 billion in revenue in 2024, driven by increased volatility from geopolitical conflicts and the AI boom, according to industry data.
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Martin Lewis: 800,000 affected by state pension error
Martin Lewis warns that up to 800,000 self-employed Brits may have incorrect National Insurance records due to an HMRC error, potentially losing thousands in state pension.
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