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What’s behind Rachel Reeves’s hokey cokey on income tax rises?
After weeks of wondering will she, won’t she, and recent heavy hints that she would indeed raise income taxes in the Budget, Chancellor Rachel Reeves has now decided against the manifesto-breaching move. Amid the fog of Budget speculation, here is what we do know. That plan, to raise income tax rates by 2p but compensate…
Covid fraud and error cost taxpayers £10.9bn, report will say
Josh MartinBusiness reporter Getty Images The report will look at Covid-era programmes like Eat Out to Help Out, which subsidised hospitality bills Covid-19 support programmes cost taxpayers nearly £11bn through fraud and error, a report will say. The Covid Counter Fraud Commissioner Tom Hayhoe will say fraudsters exploited a “golden opportunity” when he shares his…
US firm collapses ringing ‘alarm bells’, says Bank of England chief
The collapse of two US companies could be a sign of wider problems in the financial system and “alarm bells” were ringing, the governor of the Bank of England has said. Andrew Bailey told a House of Lords committee that it was important to take the failure of car parts supplier First Brands and subprime…
