britain budget

UK: Bankers brace for big hit as fear mounts over likely budget tax blow

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UK: Bankers brace for big hit as fear mounts over likely budget tax blow

LONDON: UK-based banks are stepping up lobbying efforts against possible tax hikes in the government’s inaugural Budget on October 30, amid mounting worries it may tap the cash-rich sector to boost Britain’s finances, senior industry sources told Reuters. Finance minister Rachel Reeves is due to meet senior representatives of the banking sector in the coming … Read more

UK budget deficit soars on cost of debt, energy support

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UK budget deficit soars on cost of debt, energy support

UK government borrowing surged in November as the public finances came under mounting pressure from rising debt-interest payments and the huge cost of subsidizing energy bills for consumers and businesses. The budget deficit stood at £22 billion ($26.8 billion) – the highest monthly total in records stretching back to 1993 and almost triple the £8.1 … Read more