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The Latest Breaking News from Budget

Reeves to water down tax raid on non-doms amid exodus of millionaires

The chancellor is to amend some of the changes to tax rules for non-domiciled individuals announced in October’s Budget

The Independent UK

Reeves defends Budget as she searches for growth in Davos

Chancellor Rachel Reeves said she wanted the tax burden to come down but that would depend on the economy and public finances improving.

Evening Standard

Rachel Reeves seeks to win over business chiefs in Davos with Thatcherite defence of Budget

Chancellor adopted one of Margaret Thatcher’s famous phrases to argue that ‘there is no alternative’

Evening Standard

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The Revel Collective cautions over ‘damaging’ Budget hit and trading woes

The pub and bar group revealed it is set for annual profits to be knocked by £4 million from the Government’s recent Budget measures.

The Independent UK

Wetherspoons boss demands pub tax cut to end ‘discrimination in favour of dull dinner parties’

The pub chain will face an extra £60m in labour costs bill from April

The Independent UK

Wetherspoons calls for pub food tax cuts ahead of Budget cost increases

It came as the hospitality giant revealed stronger sales for the half-year so far despite selling off more venues.

Evening Standard

DFS profits rise but warns of rising costs post-Budget and weaker sofa demand

The furniture group said it expects to see an increase in costs this year, in part due to business tax rises announced in the October Budget.

Evening Standard

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Young’s cheers jump in festive sales ahead of Budget headwinds

Total managed revenues were up 30.4% for the five weeks to January 13, with like-for-like sales up 11.6%.

Evening Standard

Currys warns it will hire fewer staff due to Budget cost hit

The group said last month it was facing an extra £32 million in wage costs from Budget measures and that price rises would be ‘inevitable’.

Evening Standard

Business confidence suffers biggest fall since Ukraine invasion after Reeves Budget

Accountancy body warns steep decline was driven by unprecedented concerns over the impact of the tax burden and weaker domestic sales growth.

Evening Standard

Half of UK retailers plan to cut workforce in 2025 - and even more will raise prices

70 per cent of polled CFOs are ‘pessimistic’ or ‘very pessimistic’ about trading conditions over the coming 12 months

The Independent UK

Two thirds of leading retailers warn Budget will force them to hike prices

The BRC poll of 52 chief financial officers found 70% are ‘pessimistic’ or ‘very pessimistic’ about trading conditions over the coming 12 months.

Evening Standard

'It's a foolish point': John Swinney pans Anas Sarwar's Budget negotiating tactic

JOHN Swinney has called Anas Sarwar's negotiation tactics during Scottish Budget discussions "foolish" and revealed Alex Cole-Hamilton is…

The National (Scotland)

Anas Sarwar under fire on two fronts after 'throwing in towel' on SNP Budget

THE Scottish Government has hit back at Anas Sarwar for claims he made about the two-child cap during an interview with the BBC...

The National (Scotland)

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The Independent UK

Next show how to overcome Budget concerns but 2025 could be ‘bloodbath’ for UK retail

Price rises are set to be enforced across the retail sector during the coming year

The National (Scotland)

SNP Budget to pass as Anas Sarwar confirms Scottish Labour will abstain on vote

ANAS Sarwar has confirmed Scottish Labour will abstain on a vote on the Scottish Budget in an interview with the BBC...

The National (Scotland)

Social Justice Secretary to announce Scottish Budget will eradicate child poverty

The Social Justice Secretary is to pledge to eradicate child poverty through warm safe homes, sustainable jobs and benefits.

Evening Standard

Social Justice Secretary to announce Budget will eradicate child poverty

Shirley-Anne Somerville will make the announcement later on Tuesday.

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The Independent UK

More than 13,000 high street shops closed in 2024

Experts have warned there is ‘worse set to come’ in 2025 because of Budget cost hikes.

The Independent UK

Starmer ‘giving with one hand and taking with the other’ despite £100m hospice funding boost

Rachel Reeves was dubbed ‘the Grinch who stole Christmas’ for refusing to exempt hospices from the national insurance hike in her Budget

Evening Standard

Shoe Zone blames Budget costs for store closures and warns over profits

Shares in the retailer slumped as it slashed profit guidance for the year to next September, just two months after warning over 2023-24 earnings.

The Independent UK

Shoe Zone blames Rachel Reeves’ budget for closing stores

The store employs around 2,250 staff across 297 stores

Evening Standard

Retailer Shoe Zone to close stores as a result of the Budget

Retailer said it had seen “very challenging trading conditions” since October.

The Independent UK

Hollywood Bowl reels in value-seeking families but says Budget impact ‘painful’

Chief executive Stephen Burns said the ten-pin bowling operator held on to the post-Covid boom in leisure demand.

Evening Standard

Private sector hiring falls at fastest rate in nearly four years after Budget

Businesses said increases in the cost of employing people plus falling confidence were making it harder to recruit new staff.

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