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Chancellor Rachel Reeves has announced significant increases in capital gains tax (CGT) rates in the UK, raising concerns among entrepreneurs and investors about potential negative impacts on economic growth and investment. The new rates will take effect in April 2025, with the lower rate rising from 10% to 18% and the higher rate from 20% to 24%.
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Chancellor Rachel Reeves' first budget has unsettled financial markets, leading to a sell-off in bonds and the pound. The budget's significant tax increases and borrowing plans have raised concerns about inflation and economic stability, echoing past market reactions to fiscal missteps.
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Kemi Badenoch has been elected as the new leader of the Conservative Party, becoming the first Black leader of a major UK political party. She faces the challenge of uniting a divided party and addressing economic policies following a significant electoral defeat. Concerns arise over her potential alignment with populist politics.
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Chancellor Rachel Reeves announced plans to consolidate the UK's 86 local government pension schemes into 'megafunds' during her first Mansion House speech. This reform aims to unlock £80 billion for investment in infrastructure and businesses, mirroring successful models in Australia and Canada.
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As mass protests loom against the government's inheritance tax changes, Prime Minister Sir Keir Starmer is set to defend his Budget in a speech in Wales. Farmers are preparing for a week-long strike, while Chancellor Rachel Reeves aims to reassure the business community with plans for financial reforms.
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The UK government is recruiting a senior civil servant to lead negotiations with the EU, signaling a commitment to improving post-Brexit relations. This follows Prime Minister Keir Starmer's efforts to reset ties with Brussels amid concerns over potential US tariffs after Donald Trump's election victory.