Hundreds of large UK retailers could face closure under government plans to introduce a higher business rates band for properties valued above £500,000, the British Retail Consortium (BRC) has warned. The group said around 400 supermarkets and department stores are at risk, threatening 100,000 jobs and £100m in lost local revenue. The BRC argued these stores already pay a disproportionate share of rates and face mounting cost pressures. However, the Federation of Small Businesses countered that larger firms should contribute more to help struggling smaller companies. The Government said reforms aim to reduce “cliff edges” and create permanently lower rates for retail, hospitality, and leisure, with further measures to be detailed in November’s budget. Critics argue the system is outdated, penalising physical retailers compared to online competitors.

An overwhelming 80% of Britons support mandatory disclosure of MPs’ tax payments, according to a YouGov survey of nearly 5,000 people. This comes after Angela Rayner’s resignation over unpaid stamp duty. Fariya Mohiuddin from Tax Justice UK, advocates for transparency to restore public trust in the political system. But Dia Chakravarty, director of low-tax campaign group the TaxPayers’ Alliance, said nobody should be forced to publish their tax returns. She added: “It is highly unlikely that the publication of their tax returns would do anything to expose any wrongdoing; it would only serve to satisfy a curiosity about parliamentarians’ personal financial affairs.”

The Organisation for Economic Cooperation and Development (OECD) has declared the end of the tax cuts era. Rising debts and increased spending on climate change, ageing populations, and defence have prompted this shift. The OECD’s report on tax reforms highlights that jurisdictions across all income levels are now seeking to increase revenues. “High levels of debt, coupled with spending needs…has meant that jurisdictions…have adopted strategies to mobilise more revenues,” the OECD stated. This marks a significant reversal from the tax cuts seen prior to the pandemic.

The National Residential Landlords Association (NRLA) has rejected the Joseph Rowntree Foundation’s (JRF) analysis suggesting that tax hikes on the private rented sector have aided first-time buyers. The JRF report claims that reforms since 2016 have led to 1.1m more households owning homes. However, NRLA Chief Executive Ben Beadle stated: “The idea that higher taxes are good for renters is simply not correct.” He warned that further tax increases would dampen investment and push rents higher. The JRF supports closing tax loopholes for landlords to promote homeownership.

The Labour government is facing criticism for its short-term approach to foreign direct investment (FDI), according to the Caudwell Strong Britain report. The UK attracted 853 FDI projects in 2024, a 13% decline from the previous year. John Caudwell said: “For too long, as a nation, we have focused on short-term solutions.” The report highlights issues like bureaucratic confusion and high electricity costs as barriers to investment. Dr Mann Virdee, author of the report, noted that investors struggle with fragmented decision-making, while Lord Harrington stressed the need for better support and a single point of contact for investors.

Torsten Bell, the pensions minister, has not dismissed the possibility of pension cuts in the upcoming Budget. He described last year’s tax increases as “difficult but fair choices” necessary to address the economic “doom loop.” While he refrained from commenting on specific Budget plans, he acknowledged the need for more funding for public services. Bell, who recently took charge of Budget preparations for Rachel Reeves, has previously advocated for reforms, including reducing the tax-free lump sum.

The Financial Reporting Council (FRC) is assisting smaller audit firms in taking on more work with listed companies. The initiative is part of a new Scalebox Programme aimed at easing regulatory burdens and providing tailored quality improvement advice. “Whilst in this programme, we will offer participating firms a more forbearing formal regulatory oversight and focus our resources instead on supporting their improvement,” said Richard Moriarty, FRC chief executive. “Accountability for improvement will, however, rest firmly with the audit firms themselves and a condition of remaining in the programme is that we see progress over time.”

Surviving Economic Abuse has raised the alarm about the potential risks of increasing the £100 contactless card limit. The charity warns that higher limits could enable abusers to drain victims’ bank accounts. Sam Smethers, chief executive of the charity, said: “This could leave a survivor without the money they need to flee and reach safety.” The Financial Conduct Authority (FCA) is consulting on changes but expects most firms to maintain the current limit. UK Finance acknowledged the impact of economic abuse but does not foresee immediate changes to the limit.

The financial services sector is investing heavily in artificial intelligence (AI), but many firms lack adequate safety measures. According to a report by EY, 26% of firms have limited or no controls to ensure compliance with regulations. Preetham Peddanagari, EY’s UK financial services tech consulting leader, warned: “Without robust oversight and governance frameworks, the sector risks leaving itself and its customers exposed to significant threats.” Despite these concerns, over half of firms plan to increase their AI investments in the coming year, with the banking industry alone expected to invest £1.8bn by 2030.

Tens of thousands are urging the Labour Party Government to raise the HMRC Inheritance Tax threshold to £1m. Roberta Khan, the petition creator, argues that Inheritance Tax and Stamp Duty represent double taxation on individuals who have already paid taxes throughout their lives. She shared her personal experience, stating: “The Government’s proposal to include pension pots in inheritance tax calculations threatens to burden families like mine further.” Khan calls for the Government to reconsider these changes to alleviate financial strain on families.