Political News
Hunt considering energy windfall tax hike to 30pc
Energy firms could face windfall taxes as high as 30%, and an extension of its imposition by three years, according to fresh reports late on Sunday.
Sunak and Hunt delay Autumn statement until 17 November
Prime Minister Rishi Sunak and Chancellor Jeremy Hunt will deliver the UK's Autumn Statement on 17 November, along with an Office for Budgetary Responsibility forecast.
UK's Sunak warns of spending cuts ahead
New UK Prime Minister Rishi Sunak warned of spending cuts as he said the country was in an “economic crisis” and pledged to correct the financial “mistakes” made during the disastrous 45-day reign of Liz Truss.
UK's Sunak becomes latest British PM
Former UK finance minister Rishi Sunak became Britain's third prime minister in seven weeks after winning the Conservative Party's leadership contest in the first round.
UK PM Truss resigns, Tory leadership vote to take place next week
UK Prime Minister Liz Truss resigned on Thursday, caving in to days of pressure as her 44-day-old premiership imploded in a debris field of policy u-turns, sackings and financial market collapses.
Truss vows to keep triple-lock on state pension increases
Beleaguered UK Prime Minister Liz Truss on Wednesday pledged to keep the so-called “triple lock” guarantee on state pension increases, as she tried to re-establish her authority days after being publicly humiliated by the destruction of here signature economic growth plan.
Hunt mulling windfall tax for banks - report
New chancellor Jeremy Hunt is considering upping the amount of tax paid by banks as he looks to plug funding gaps, it was reported on Wednesday.
UK's Hunt warns of tax rises, downgrades energy bill subsidy
New UK Finance Minister Jeremy Hunt put the last elements of Prime Minister Liz Truss’s economic plan in the Westminster shredder on Monday, and warned that tax rises were on the table and and the government’s energy price guarantee would end in the spring.
UK's Hunt to make emergency fiscal statement as Truss hangs by a thread
Newly-installed UK Finance Minister Jeremy Hunt will deliver parts of his fiscal plan later today, two weeks ahead of schedule, Treasury officials said on Monday.
Truss makes humiliating u-turn on corporation tax, future in doubt
Embattled UK Prime Minister Liz Truss was forced into a humiliating u-turn on Friday, abandoning her pledged marquee cut in corporation tax, as she said she planned to stay in power hours after sacking her finance minister and ideological soulmate Kwasi Kwarteng.
Jeremy Hunt appointed as UK finance minister after Kwarteng sacked
Former health and foreign secretary Jeremy Hunt has been appointed the UK's fourth finance minister this year after the sacking of Kwasi Kwarteng this afternoon by Prime Minister Liz Truss, Downing Street said.
Kwarteng thrown under the Truss for mini-budget blunders
UK Prime Minister Liz Truss fired Finance Minister Kwasi Kwarteng on Friday, forcing him to carry the can for her government's disastrous mini-budget.
UK's Kwarteng confirms sacking as finance minister
UK Finance Minister Kwasi Kwarteng has been sacked after his disastrous mini-budget, he confirmed in a letter to Prime Minister Liz Truss.
Chancellor flies home early for crunch talks
The chancellor has cut short his visit to the International Monetary Fund in Washington amid growing speculation that the government is preparing to U-turn on its controversial mini-budget, it was reported on Friday.
Markets rally on speculation of more UK mini-budget reversals
Sterling and gilts rallied on Thursday, as speculation mounted that elements of the government’s controversial mini-budget could be scrapped.
Government to impose cap on green power revenues
The UK government has confirmed that renewable energy generators will have their revenues capped in a de-facto windfall tax.
Government bows to pressure and brings forward spending plans
Chancellor Kwasi Kwarteng has bowed to pressure and brought forward publication of the government’s spending plans, it was confirmed on Monday.
Mortgage lenders to urge Kwarteng to extend guarantee scheme
Some of Britain’s largest mortgage lenders are set to implore chancellor Kwasi Kwarteng to extend a first-time buyer guarantee scheme, it was reported on Thursday.
Von der Leyen urges unity on EU gas price cap
Ursula von der Leyen has urged the European parliament to back a temporary cap on gas prices.
Truss lays out vision for UK economy, defends tax cuts
Prime minister Liz Truss defended her government's plans to cuts taxes on Wednesday, insisting they were both "morally and economically" right.