British economy

Why lawyer Keir Starmer could struggle to restore the city’s swagger

by

Painful new taxes were introduced under the Conservatives. The bank levy brings in around £1.5 billion a year to the Treasury. The bank surcharge, introduced to prevent lenders benefiting from corporate tax cuts, has raised £2.5 billion in the 2022-2023 period, although that revenue is declining now that corporation tax has risen again. Matthew Lesh … Read more

Four reasons why interest rates could stay higher for longer

by

The result is that even if nominal interest rates fall below the official 2% target in the coming months, as seems likely, they could pick up again later this year. This is already happening in the eurozone, where headline inflation, core inflation and services inflation all rose in May. Although the ECB has cut interest … Read more

Corporations and universities are getting rich by shifting the costs to the rest of us

by

If we discovered that a business leader had made his fortune not only by making a large profit on the goods or services he sold, but also by stealing the incomes and savings of innocent members of the public – people who had no connection whatsoever their company – we would be outraged. Demands would … Read more

‘Socialist’ London has lost its mojo, says Wizz Air boss

by

The prospect of Váradi receiving his £100m bonus, first promised in 2021, is vague. Under the terms of the deal, the Wizz chief must increase the company’s share price to £120 by 2028 to unlock the prize. Váradi, 58, will put those concerns behind him on Tuesday, when the airline celebrates its 20th anniversary at … Read more