Weekly Digest – 30 October 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Employers’ National Insurance hike to raise £20bn

The chancellor is set to increase the National Insurance rate for employers to boost funding for public services including the NHS. Rachel Reeves is also expected to use Wednesday’s Budget to lower the threshold for when employers start paying the tax – with the two measures combined to raise about £20bn.

Chancellor to unlock housing in first Budget

The Budget will deliver more affordable housing, ensure social housing is available for those who need it and turbocharge the delivery of 1.5 million homes.

UK Budget to hit ‘ordinary workers’ and the economy hard

The UK Budget next week could spell financial shock for hundreds of thousands of ordinary families, as Chancellor Rachel Reeves appears to be preparing to hike Capital Gains Tax (CGT). This tax hike, warns the CEO of one of the world’s largest financial organizations, threatens not only individuals’ wealth but also the country’s economic health.

UK economists downgrade economic growth forecasts for the next two years

The UK economy is set to grow slower than previously expected over the next two years amid cautious consumer spending, according to new forecasts by economists.

Reeves tax raid ‘risks harming UK economy’, top business groups warn

Some of the country’s top business groups have warned that Rachel Reeves’s rumoured plans to ditch a slew of tax breaks for entrepreneurs at the budget “risk harming” the economy and dissuading founders from setting up companies in Britain.

The water industry is in crisis. Can it be fixed?

Our loos flush and water comes out of our taps. In that sense, the water industry in England and Wales works. In just about every other way, it’s a mess.

‘Amazon tax’ to save Britain’s high streets under consideration by Reeves

Chancellor Rachel Reeves is considering a tax hike for online retail giants like Amazon in an effort to level the playing field for high street competitors.

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