Blackstone president Jon Gray has voiced concern over the exodus of entrepreneurs from the UK in the wake of tax hikes and the end of a preferential regime for non-domiciled residents. He told a podcast the issue of job creators leaving the country is “probably the thing that we’re most concerned about now.” However, the firm, which has pledged to invest $100bn in the UK over the next decade, remains bullish on the UK due to its legal system, deep talent pool and education sector.

The Climate Change Committee (CCC) estimates that achieving net zero will cost Britain over £125bn this decade. Annual costs are projected to rise from £15bn in 2025 to over £30bn by 2029. The CCC’s report indicates that savings from net zero will not materialise until around 2040. Critics, including shadow energy secretary Claire Coutinho, argue that the transition will burden families already facing high living costs. The CCC maintains that, in the long run, net zero will be more cost-effective than reliance on fossil fuels, averaging £4bn annually from 2025 to 2050.

Inflation in the UK may exceed 3% due to rising oil prices, warns David Miles from the Office for Budget Responsibility (OBR). He stated that the current increase in oil and gas prices could add approximately 1% to inflation by year-end. Despite a recent drop in oil prices, they remain 20% higher than before military actions in the Middle East. The OBR also pointed to the possibility of a £13bn spending gap for the Government by 2029.

Rachel Reeves is considering cuts to the windfall tax on oil and gas firms. However, economists warn this would primarily benefit companies rather than consumers. The tax, introduced in 2022, raised £12bn but is dwarfed by the £56bn spent on consumer support during the energy crisis. Simon Cran-McGreehin from the Energy and Climate Intelligence Unit stated: “It’s an upstream tax, so it does not impact the end consumer.” Experts argue that instead of tax breaks, companies should invest their profits into production. Robert Palmer from Uplift called the idea of North Sea growth a “fantasy.”

Niels Christiansen, the CEO of Lego, has condemned Denmark’s proposed 0.5% wealth tax on assets over £2.9m. He warned it could lead to job losses and capital flight from companies. Christiansen stated: “There’s a high risk it would impact society pretty hard in the long run.” Other business leaders, including Robert Uggla of Maersk, echoed concerns, arguing that such policies could harm access to capital for Danish firms. In the UK, the Green Party is advocating for a similar tax structure targeting high-value assets.

The ongoing conflict in the Middle East has prompted British ex-pats to reconsider their living arrangements, particularly in the UAE. With Dubai and Abu Dhabi losing their appeal due to safety concerns, many are exploring alternative destinations. Options include the Bahamas, Bermuda, Monaco, and the Cayman Islands, all offering tax advantages without the geopolitical risks. For instance, the Bahamas imposes no income tax, while Bermuda boasts a high standard of living.

Rachel Reeves is facing a backlash over a “stealth tax” affecting pensioners. The freeze on income tax thresholds will impact an additional 1m pensioners, according to the Office for Budget Responsibility. Shadow Work and Pensions Secretary Helen Whately stated that the Tories will fight to protect pensioners from this burden. Critics, including Shadow Chancellor Mel Stride, argue that the freeze is a betrayal of promises made to pensioners. Dennis Reed from Silver Voices called it a “cruel state pension tax grab.” The situation is exacerbated by rising inflation, potentially increasing the tax burden on pensioners.

Volkswagen plans to eliminate 50,000 jobs by 2030 following a significant profit decline. The company reported operating profits of €8.9bn for 2025, down from €19.1bn in 2024. Profits after tax fell 44% to €6.9bn. The job cuts will affect various divisions, including Audi and Porsche, as Volkswagen seeks to save over €15bn. The company faces challenges from declining electric vehicle demand and increased competition in the Chinese market.

Market Financial Solutions (MFS) faces a £1.3bn shortfall, significantly higher than the £930m previously estimated. Creditors revealed this in a court filing amid serious fraud allegations, including double pledging of assets. The creditors claim that eight companies, supposedly MFS borrowers, are linked to co-founder Paresh Raja. They argue that these companies are essentially nominees for Raja. MFS, which had a loan book of £2.5bn, provided bridging finance and buy-to-let mortgages to various clients, including property investors and celebrities.

The European Central Bank (ECB) has highlighted a surge in cash demand during crises, urging families to maintain a cash reserve. The recommendation follows events like the 2022 invasion of Ukraine and the Covid pandemic, which increased public cash acquisition. The ECB suggests keeping between €70 (£60) and €100 (£86) for emergencies, as cash provides immediate access and privacy.