Category: Banks and building societies

UK asks banks for feelgood stories about keeping out dirty money

City firms tapped for case studies to try to convince global watchdog that London has cleaned up its actThe government is asking bankers and lawyers to provide feelgood stories about how they blocked dirty money from entering...

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Reinstate windfall tax on banks after surge in profits, TUC urges

Unions group wants rate returned from 3% to 8% after big four UK lenders reveal £14bn total profit in first quarter An increased windfall tax should be imposed on the UK’s largest banks according to trade union leaders, after...

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City minister accused of ignoring £2bn car finance tax loophole

Critics say banks will be able to avoid tax on compensation payouts to victims of £11bn loans scandalThe City minister, Lucy Rigby, has been accused of snubbing taxpayers after she appeared to brush off concerns about a £2bn tax...

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Lending to small businesses and low-income areas must expand, say Labour backbenchers

Senior politicians have tabled bill that would force UK banks to make affordable finance more accessibleSenior Labour backbenchers are urging the government to introduce legislation forcing UK banks to expand affordable lending...

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Reeves’s plan to cut cash Isa limit could raise mortgage rates, say finance bosses

Building societies fear consumers will be put off from saving if chancellor’s budget announces a 40% reductionBusiness live – latest updatesRachel Reeves’s plan to slash the annual cash Isa limit by 40% could lead to higher...

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UK pension savers urged not to withdraw cash due to budget ‘fear and rumour’

Financial experts express alarm after jump in sums people taking out of retirement pots amid ‘jitters’ about taxOlder savers should avoid making rash decisions about their pension cash based on “fear and rumour”, experts urged...

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Rachel Reeves’ ‘save less to invest’ policy could be brilliant for ordinary Britons – or a disaster | Hilary Osborne

People know about savings. But investing in stocks and shares? Not so much. Ministers have a duty to be clear about the benefits and risksHilary Osborne is the Guardian’s money and consumer editorWithout wanting to sound like a...

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Isa shakeup: How can Rachel Reeves nudge savers into buying stocks and shares

All you need to know, from investment pros and cons to what changes are on the table and how best to take advantageRachel Reeves wants Britons to put more of their spare cash into shares to help them get better returns, support...

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