UK budget: financial services sector reaction

What we drew from this source

The claims Via News extracted from this document. We point to the source; we don't replace it.

• 2025 Budget locks in structurally higher tax environment that will alter domestic capital flows and retail trading patterns for long term

  80% confidence

• LISA has ability to have huge impact on retirement prospects for groups such as self-employed

  80% confidence

• 88% of UK finance leaders believe restricting employees' access to budgets actually stifles business growth

  80% confidence

• Stamp duty holiday likely to encourage investment in UK IPOs and companies to list on LSE

  80% confidence

• HSBC UK pleased to make available over £11 billion of measures to back businesses and households

  80% confidence

• UK's top 1% of taxpayers contribute to a third of all tax revenue

  80% confidence

• Lifetime ISA has provided essential boost for hard-pressed young buyers desperate to get onto property ladder

  80% confidence

• HSBC UK is proud to support over 15 million customers

  80% confidence

• Chancellor has delivered blow to investor and early-stage businesses by slashing tax relief on VCTs

  80% confidence

• Will create 1,000 highly skilled jobs over next five years

  80% confidence

• Decision not to increase levies or add new regulatory burdens on banks was welcome

  80% confidence

• You don't pay national insurance on dividend or savings income, whereas you do on employment income

  80% confidence

• Chancellor expecting to raise £2.1 billion overall through personal tax rises

  80% confidence

• Larger cushion against fiscal rules will reduce likelihood of further fiscal tinkering in next Budget

  80% confidence

• Question marks remain as to whether measures will be effective in restoring trust among non-doms and preventing further departures

  80% confidence

• Landlords may attempt to offset increased tax burden by charging higher rents

  80% confidence

• UK equities have lost over £1.9 trillion to global markets since 2000

  80% confidence

• UK ownership of domestic equities fell from 96% in 1981 to 42% in 2022

  80% confidence

• Right consultation on LISA replacement is vital and needs to ensure dedicated savers aren't disadvantaged

  80% confidence

• Tax relief on VCTs would be cut from 30% to 20% following 2025/26 financial bill

  80% confidence

• Focus shouldn't be on hastily cutting costs but being smarter about where spend goes

  80% confidence

• Tax rise could put more pressure on already strained rental market as landlords might look to sell properties

  80% confidence

• Today's announcement on Lifetime ISA will be worrying for those who rely on it for retirement savings

  80% confidence

• Would be prudent to expect more enquiries into reorganisations, share buy-backs, goodwill valuation and business-property relief optimisation

  80% confidence

• Near-term impact will be tighter domestic liquidity as households absorb fiscal shift

  80% confidence

• Tenants as well as landlords will pay the price for Chancellor's move to increase Property Income Tax

  80% confidence

• Chancellor has added 2% tax to dividend and savings income, making it 2% higher than equivalent income tax on employment income

  80% confidence

• Budget is to support working households and UK businesses

  80% confidence

• Nearly a quarter of taxpayers will be paying higher rate by 2030

  80% confidence

• Tax change seems counter to Government's growth agenda

  80% confidence

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