Taxes

Survey by global economic forum shows ‘tax wedge’ in Britain increased to 32.4% of income in 2025Business live – latest updatesTaxes on workers in Britain rose at the fastest rate among the world’s richest economies last year, according to the Organisation for Economic Cooperation and Development.With Labour under pressure on the economy amid the Iran war, the OECD said a key measure of the total tax paid by workers and their employers rose by the most in the 38-member club of rich nations in 2025. Continue reading...

Brussels will relax state aid rules to allow member countries to offer ‘targeted and temporary’ supportEurope live – latest updatesThe EU will cut electricity taxes and provide consumers with fresh incentives to ditch fuel-burning cars and boilers, the European Commission has announced, as the Iran war energy crisis speeds a shift to a clean economy.The plan, which foresees tweaking rules so that electricity is taxed less than oil and gas, aims to bring down bills while encouraging the move away from polluting devices that prolong reliance on foreign fuels. Continue reading...

Charities say taxes should rise for banks, defence and energy companies which stand to make windfall profitsMiddle East crisis liveRachel Reeves is being urged to raise taxes on businesses generating “windfall” profits linked to the US-Israel war on Iran to fund emergency cost of living support for UK households.With the government under pressure to respond, a group of leading charities, campaigners and trade unions said the chancellor could raise billions by taxing “excess profits” linked to the conflict. Continue reading...