News about UK
Introducing a minimum wealth tax on the ultra-wealthy in the UK could generate about 10 billion pounds for the budget each year, according to a study by economists at the Paris School of Economics and King’s College London. The authors of the initiative have called on Prime Minister Andy Burnham to consider this measure as he prepares a ten-year program of tax reforms.
King Charles III of the United Kingdom accepted Keir Starmer’s resignation as prime minister. The audience took place on July 20 at Buckingham Palace, according to the royal press office.
The Stargate UK project, announced last year and intended to be the UK’s largest initiative in the field of artificial intelligence infrastructure with a stated investment of up to £30 billion, is now facing renewed pressure.
The frequent turnover of prime ministers is increasingly becoming one of the main signs of systemic difficulties in the United Kingdom. Keir Starmer’s resignation, less than two years after a convincing victory in the general election, was yet another sign of the growing crisis of confidence in the country’s political leadership.
For many years, the founders of British tech companies followed a familiar scaling model: they hired local employees, raised capital, and built teams close to home. But rising costs, a shortage of talent, and increasingly complex operations are forcing many to rethink this approach.
British Prime Minister Kir Starmer announced his resignation and his departure as leader of the Labour Party in a special address delivered before entering his residence.
Members of the Labour Party have expressed dissatisfaction with Keir Starmer. This was prompted by the party’s failure in the local elections. The politician attributed this setback to his own mistake.
The UK economy has lost between 2% and 6% due to Brexit, compared to a hypothetical scenario in which the UK had remained in the EU.
The European Union has officially rejected the UK government’s proposal to create a separate single market for goods. Brussels responded by rejecting London’s initiative aimed at deepening bilateral trade relations, confirming that any attempts to obtain selective privileges without meeting all membership conditions are ruled out.
The UK has announced the introduction of a new package of sanctions against Russia, calling it “one of the toughest” in the entire period of London’s sanctions policy. Eighty-five individuals and legal entities that the British authorities link to information campaigns and support for Russian actions abroad have fallen under the restrictions.
The German government is preparing to adopt a draft budget for 2027. In addition to a tobacco tax, the authorities want to introduce a tax on sugary drinks.
US President Donald Trump has threatened to impose duties on the UK if London does not repeal a digital services tax affecting US technology companies.
The UK Ministry of Finance has presented a strategy for payment sector reform. The authorities plan to combine the regulation of traditional services, stablecoins and tokenized deposits into a single legal framework.
In the UK, changes to the inheritance tax system are coming into force which could significantly increase the tax burden on beneficiaries of assets.
The UK is betting on artificial intelligence in the fight against the shadow economy. The country’s financial regulator, the Financial Conduct Authority (FCA), has launched a pilot project using an analytics platform from the US company Palantir Technologies, hoping to radically improve the efficiency of market oversight.
A labor tribunal in Holbeck near Leeds, UK, sided with a woman whose boss called her “Potato” and mimicked an Irish accent, Logos Press reported.
The Bank of England plans to change the appearance of national banknotes: instead of portraits of famous historical figures, they may feature images of wildlife. The final decision on which species of animals or plants will be placed on the banknotes will be made after public discussion, which is scheduled for the summer of 2026.
