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The Latest Breaking News from Paul Johnson

What is a ‘mansion tax’ and how would it work?

A new levy targeting wealth is reportedly under consideration by the chancellor

The Independent UK

Mansion wealth tax wouldn’t fill Budget black hole, economists warn Reeves

Former IFS director Paul Johnson says a mansion tax ‘wouldn’t raise anywhere near enough to fill a significant hole’ in the public finances

The Independent UK

Trump Hints At Tariff Cash Giveaway To Americans After Record Revenue Surge

President Donald Trump suggested Tuesday that Americans could soon receive direct cash payments funded by skyrocketing tariff revenues—a signal that his hardline trade strategy might evolve into an economic stimulus tool ahead of the 2026 midterms.

Benzinga

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Trump's Tariff-Revenue Checks Could Spur 'Weird Feedback Loop,' Warn Economists—White House Claps Back At 'Unsubstantiated Assumptions'

The potential tariff-revenue checks proposed by President Donald Trump could exacerbate inflation, warn economists. The checks, which could range from $1,000 to $2,000, might lead to increased consumer spending, potentially driving up inflation.

Benzinga

Trump’s tariff revenue checks could create a ‘weird feedback loop’ that encourages more price hikes, analyst says

But the inflationary effects may not be as severe as Biden’s COVID-era stimulus checks were.

Fortune

Voices: It’s a disgrace that home is a luxury the young can no longer afford

COMMENT : The Office for National Statistics says London prices have got so out of whack that even the top earners can’t afford to buy, and it’s not much better in the rest of England. It’s time to get building, now, writes James Moore

The Independent UK

Winter fuel cuts to hit 600,000 disabled pensioners, analysis finds

Around 600,000 of those who will miss out on winter fuel payments are disabled

The Independent UK

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How to watch 'The Yogurt Shop Murders' online from anywhere — release date, TV channels

Harrowing four-part documentary about a crime that changed a city forever. Here's how to watch 'The Yogurt Shop Murders' online, on TV and from anywhere in the world.

Tom’s Guide

Trainers’ chief backs radical alternative to government’s gambling tax plan

The National Trainers’ Federation gave its ‘full backing’ to proposals for a big rise in tax rates for operators of online casino games

The Guardian - UK

Starmer and Reeves promised honesty about public finances. Can they stay the course?

Labour is being pulled one way by a desire to cut debt and the other by slumping poll ratings. With growth nowhere to be seen, tax rises loom

The Guardian - UK

Rachel Reeves to announce review of workplace pensions contributions — here’s what it could mean

The chancellor will use her Mansion House speech to announce the overhaul

The Independent UK

Rachel Reeves’s brave face cannot mask the challenges she now faces

The chancellor has come out fighting after her teary PMQs moment... but much tougher challenges now await

The Independent UK

To all who think capitalism can drive progressive change, it won’t – and here’s the shocking proof

Asset manager Aberdeen’s surprise cut to funding research into inequality has left those that used its grants for good work reeling, says Guardian columnist Polly Toynbee

The Guardian - UK

Reeves expected to freeze income tax thresholds to raise funds after welfare U-turn

Government’s concessions over welfare cuts leave chancellor with a growing hole in her budget

The Guardian - UK

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The Independent UK

Starmer leaves door open for tax rises to fund rise in defence spending

IFS director Paul Johnson warns the £30bn increase in defence spending will need to be funded by tax rises

The Guardian - UK

There hasn’t been a ‘big chancellor’ since Osborne: IFS chief gives final mark

As he steps down after 14 years, Paul Johnson says politicians and voters refuse to accept economic tradeoffs

The Guardian - UK

Demob-happy IFS director tears into Rachel Reeves’s spending review

Blistering analysis by outgoing chief concludes chancellor likely to end up ‘gnat’s whisker’ away from tax rises

The Independent UK

Tax hikes will come if economy shrinks any further, IFS warns Rachel Reeves

Institute for Fiscal Studies suggests Treasury is ‘making up the numbers’ as it warns council tax will rise at fastest rate in a generation

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Evening Standard

Council tax bills set to rise at fastest rate for two decades, economist warns

Paul Johnson said council tax bills could rise by 5% a year following the Chancellor’s spending review

Evening Standard

Reeves promises £29bn-a-year for NHS but other Whitehall budgets face squeeze

Chancellor Rachel Reeves said the extra cash for England’s health service would create ‘an NHS fit for the future’.

The Independent UK

Reeves unveils record spending plans but experts warn of tax rises ahead

Chancellor announces £39bn boost for social housing, £29bn for NHS and £11bn for defence – and promises to close all asylum hotels as she takes a swipe at Farage and dismisses Tory warnings of a ‘cruel summer’ of tax rises

Evening Standard

More tax rises on the way 'if anything at all goes wrong' with Rachel Reeves economic plans, IFS warns

The Chancellor has very little economic cushion to deal with any unexpected events

The Independent UK

Defence secretary fails to rule out tax rises to fund defence spending uplift

While John Healey said he is ‘100 per cent confident’ the defence spending uplift would be achieved, he struggled to say how it would be paid for

Evening Standard

Starmer warned of need for ‘chunky tax rises’ to pay for new military spending

Prime Minister Sir Keir Starmer said he was ‘100% confident’ cash would be available for all plans laid out in the new strategic defence review.

The Independent UK

Starmer ‘known around the world’ for cutting winter fuel payments for pensioners, top economist says

Labour’s winter fuel cuts have been blamed for the party’s disastrous local election performance

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