Sunday newspaper round-up: Unsustainable, Inheritance Tax, Payslips
By Alexander Bueso
Date: Sunday 27 Oct 2024
(Sharecast News) - The government's debt pile is set to soar to "unsustainable" levels, the Chancellor's new fiscal rules not withstanding, official data reveal. During the previous week, Rachel Reeves binned the old methodology used to measure public debt, which will allow her to foist enormous additional liabilities on future generations of Britons. The new rules will let her borrow £50bn yet claim that she can balance the books. - The Financial Mail on Sunday
Concern about an inheritance tax raid in the budget have seen the value of the Aim stock market crash by almost £6bn as investors ditch their shares. Chancellor Rachel Reeves is widely anticipated to scrap the exemption from the tax for those who have held their shares for over two years. Hence the 11.5% drop in the Aim index since the election. - The Sunday Times
Workers' payslips will not be impacted by Labour's tax hikes, education secretary Bridget Phillipson told the BBC. She made the remarks on the BBC on Sunday, ahead of the Chancellor's Budget during the following week. Come Wednesday, Rachel Reeves was expected to announce a hike in employers' contributions to national insurance that could raise between £8.5bn and £20bn. - Guardian
Spring Fibre, the full-fibre broadband network provider that raised over £150m to compete against BT has filed a notice of intention to appoint administrators. The decision comes after its key investor said it would pull the plug and the company failed to find a new backer. The news underscores the pressures that challenger broadband outfits - also known as alt-nets - face. - The Sunday Telegraph
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