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Prospect of party closing Tory ‘loopholes’ if elected prompts some wealthy individuals to explore a move overseas“People are jumping on planes right now and leaving,” said Nimesh Shah, the chief executive of Blick Rothenberg, an accountancy firm that specialises in advising very rich “non-doms” on their tax affairs. “I am not being dramatic, they are leaving right now.”Shah said his clients – some of...

Shadow chancellor says Labour would ‘ramp up’ number of HMRC staff to close gap between what is owed and paidUK politics – latest updatesThe shadow chancellor, Rachel Reeves, has said proposals to close the tax gap to fill a hole in her spending plans is not “rocket science”.Reeves was forced to respond after Jeremy Hunt used his budget to adopt some of Labour’s revenue-raising...

The chancellor’s biggest giveaway is likely to be a further cut to national insurance contributionsJeremy Hunt is due to set out the government’s plans for tax and spending in his budget on Wednesday. In what is expected to be the last budget before a general election, the chancellor’s biggest giveaway is likely to be a further cut to the national insurance contributions paid by...

Britain spent about £26bn in three years on low-carbon measures, less than Italy, Germany, France and Spain, Greenpeace findsThe UK spends less on low-carbon energy policy than any other major European economy, analysis has shown, despite evidence that such spending could lower household bills and increase economic growth more than the tax cuts the government has planned.Spending on low-carbon measures for the three years...

Exclusive: Joseph Rowntree Foundation finds widening gulf between demand for tax cuts and reality for millions strugglingJeremy Hunt has been told Wednesday’s budget risks condemning Britain to a second “lost decade” for living standards that would leave working families £1,900 a year worse off.The chancellor enters a crunch week under pressure from his party to deliver a package of pre-election tax cuts, but analysis...

Chancellor says less room now for giveaway in March despite being widely thought to be gearing up for cutsThe chancellor, Jeremy Hunt, has said there will be less room for tax cuts in the spring budget next month, just days after the International Monetary Fund warned that the UK needed to focus on repairing its public finances.Hunt, who in November announced he was cutting...

Jeremy Hunt targets further reduction in ‘jobs tax’ in March budgetThe government is considering handing workers another tax cut with a further reduction in national insurance, amid desperate attempts to move on from a campaign to destabilise Rishi Sunak by the Tory right.With frustration within the cabinet that the Conservative party has been unable to free itself from internal warring over Sunak’s immigration plans...

Hunt draws comparisons with Thatcher’s tax-slashing chancellor as he claims UK is ready for economic boomJeremy Hunt has compared himself to former tax-cutting chancellor Nigel Lawson, as he joined Rishi Sunak in teasing further potential cuts in the spring budget.Writing in the Mail on Sunday, the chancellor drew comparisons with the late Lawson, who was known for slashing personal taxation while serving in the...