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UK economy grows by 0.1% in unexpected boost for Rachel Reeves

ONS data showing British national output rose in final quarter of 2024 confounds forecasts of 0.1% decline Britain has avoided a recession after the economy unexpectedly picked up in the final three months of 2024, easing some of the pressure on Rachel Reeves after flatlining during the summer.

Tax and Customs Administration to share information automatically to fight against international tax evasion

Finance minister Jeroen Dijsselbloem signed a declaration today with 50 other countries, committing the signatories to exchange tax-information automatically. Source

UK economy on course for 1.5% expansion, NIESR predicts

Thinktank cautions Trump tariffs could blow hole in forecast, with 63% of UK firms exporting to US expecting to be hit The British economy is on course to expand by 1.5% this year after the budget gave a boost to public spending but could be blown off course

Mr Weekers concludes agreement with US to tackle tax evasion and undeclared savings

Mr Weekers, the State Secretary of Finance, has concluded an agreement with the United States today making possible an automatic exchange of data between the tax authorities of both countries. This agreement implementing the U.S. Foreign Accounts Tax Compliance Act (FATCA) underscores the co-operation of the Netherlands and

State and ING agree on sale of Alt-A portfolio

Jeroen Dijsselbloem, Minister of Finance, and ING have agreed on the unwinding of the Illiquid Assets Back-Up Facility (IABF). This facility involves a portfolio of US Alt-A mortgage-backed securities. The termination of the IABF is in line with the government vision of unwinding government interventions in the financial

Andrew Bailey warns against watering down City regulations in pursuit of growth

Bank of England governor says there is ‘no trade-off’ between economic growth and financial stability The governor of the Bank of England has warned against watering down City regulations introduced after the 2008 banking crash, saying there was “no trade-off” between economic growth and financial stability. In a

Bank of England’s Mann backed rate cut as she sees inflation ‘hump’ easing

Downturn in jobs market will mean workers will be unlikely to be able to bid up their wages, says policymaker Business live – latest updates The Bank of England policymaker Catherine Mann has said she backed a half-point cut in UK interest rates last week because she believes

Dutch government to tackle international tax avoidance

The Netherlands will improve tax transparency and update tax treaties with low-income countries and low middle-income countries. Tax treaties with Zambia and 22 other poor countries will be revised to allow the incorporation of anti-abuse clauses where necessary. This was announced by Ploumen, Minister for Foreign Trade and

The Guardian view on interest rates: the Bank of England on its own won’t revive growth | Editorial

Base rate cuts may ease borrowing costs but without stronger public spending and targeted tax relief, economic stagnation will persist “It will be welcome news to many that we have been able to cut interest rates again,” said Andrew Bailey, the Bank of England governor, last week. Plenty

Van Dijkhuizen Committee: lower tax rates with a very long first bracket, fewer tax deductibles and simpler benefits will lead to more jobs

The Van Dijkhuizen Committee advises the government to opt for an improved tax system with lower rates and a very long first bracket, fewer deductible items and simpler benefits. According to the CPB Netherlands Economic Bureau for Economic Policy Analysis, these structural reforms will lead in the long

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