Energy-intensive industries such as steel and paper mills could have their power bills subsidised more by the government in an effort to increase the competitiveness of manufacturers as prices climb. The cost of industrial electricity in the UK is said to be higher than in other countries, including parts of the EU, which the government…
Britain will lose £13 billion in economic value from raising the windfall tax on its offshore oil and gas industries, a trade body has warned. The loss would be a result of oil and gas companies cutting their investment in British projects, which in turn would have an impact on local companies in their supply…
When you hear the term “LinkedIn influencer”, you might groan, picturing the tech bro archetype who talks about sales and how they respect people and engages in a bit too much self-promotion. But what if I told you that blue-chip brands were reaching hundreds of millions of people by employing LinkedIn influencers in-house to promote…
The pound is on course to be one of the best-performing leading currencies in the world this year as strong economic growth in Britain and the change in government help to “dispel overly negative views”, leading American investment banks have said. Sterling is predicted to hit a four-year high of $1.41 against the dollar by…
Investors rushed to buy UK government bonds on Tuesday by placing a record order of more than £100 billion at a gilt auction, defying Labour’s warnings about the parlous state of the public finances and a possible “run on the pound”. Bond investors placed orders totalling £110 billion during the auction for an £8 billion…
Businesses face paying thousands of pounds in fines if they do not uphold new protections for employees introduced by Labour as part of its overhaul of workers’ rights. The Times has been told ministers are considering a warning system which would allow companies to make improvements before being hit with fines. But business leaders have…
Oil prices fell by more than 4 per cent on Tuesday, condemning the FTSE 100 to its biggest daily drop in two weeks, as optimism grows that crude oil from Libya will soon start flowing again. The prospect of more supply coming to market, coupled with demand worries in the face of sluggish economic growth…
Britain’s biggest seller of Rolexes and Omega watches has signalled a recovery in the luxury sector as demand steadies for high-end timepieces and jewellery. Shares in Watches of of Switzerland, which also sells high-end brands Cartier and Tag Heuer, rose by as much as 6 per cent after it welcomed a “continued stabilisation” of the…
When writing about tax, it is good to start with a quote. Today’s was going to be, “The only things certain in life are death and the fact that taxes will go up in the autumn.” Then I came across one from John Maynard Keynes, no less, from 1944: “The avoidance of taxes is the…