Rachel Reeves’ Budget raises UK tax take to all-time high

Nexxen International has updated its proxy statement for UK depository interest holders, a move that reflects the company's ongoing commitment to transparency and communication with its investors. This update is crucial for stakeholders as it outlines important information regarding shareholder rights and voting procedures.

Flutter has announced that new UK gambling duties are expected to impact its EBITDA by $320 million in 2026. This significant financial forecast highlights the increasing regulatory pressures facing the gambling industry in the UK.

UK Finance Minister Rachel Reeves has unveiled a new budget that raises taxes for ordinary workers while increasing government spending on social welfare programs. The plan aims to elevate the government's tax revenue to a post-war high of 38% of GDP by 2031, as reported by the Office for Budget Responsibility (OBR). This budget is set to be a pivotal moment for the Labour government amid ongoing economic challenges.

Chancellor of the Exchequer Rachel Reeves presented a budget plan aimed at calming markets and addressing the cost of living crisis in the UK, proposing significant tax increases on the wealthy and middle class. This budget, set for November 26, is seen as crucial for the Labour government led by Keir Starmer.

Chancellor Rachel Reeves has unveiled a £26 billion tax-raising budget aimed at the wealthiest households in the UK, which includes the scrapping of the two-child benefit cap and cuts to energy bills funded by a mansion tax. This budget was announced amid a chaotic day marked by early leaks from the Office for Budget Responsibility (OBR).

Chancellor Rachel Reeves' recent budget announcement has been characterized by the Office for Budget Responsibility (OBR) as a strategy to delay fiscal pain, suggesting that she is now more likely to meet her fiscal rules without additional policy changes. This approach indicates a shift in fiscal management amidst ongoing economic challenges.

Chancellor Rachel Reeves has presented the UK Budget for 2025, which includes significant changes to tax, pensions, and welfare aimed at addressing the ongoing cost of living crisis. Key announcements include the scrapping of the two-child benefit cap and the introduction of a mansion tax, alongside a £550 increase for pensioners, reflecting the government's commitment to support vulnerable populations.

Retailers have expressed relief following the UK government's budget announcement, which revealed that changes to business rates will not be as severe as previously anticipated. Chancellor Rachel Reeves confirmed that business rates for retail, hospitality, and leisure properties will be permanently reduced, benefiting approximately 750,000 properties, particularly smaller operators.