Tuesday newspaper round-up: Post Office, Barclays, income tax revenues

(Sharecast News) - Ministers have drawn up urgent plans to clear the names of hundreds of post office operators who were wrongly convicted of theft and fraud in the Horizon IT scandal as the government scrambled to get on the front foot over the major miscarriage of justice. The justice secretary, Alex Chalk, will hold talks with the senior judiciary to confirm how the convictions can be overturned as soon as possible, so victims can have speedier access to millions of pounds of compensation. - Guardian The top director responsible for safety and security at Sellafield is to leave the vast nuclear waste dump in north-west England, it has emerged. Mark Neate, the Sellafield environment, safety and security director, is to leave the organisation later this year. - Guardian

Barclays cut its workforce by around 5,000 last year as part of an ongoing push to strip costs from the lender. The bank confirmed the size of the job losses for the year ending December 2023 after reports emerged that it was planning to cut 2,000 jobs in a £1bn cost-cutting drive. Investors are awaiting an update in February from chief executive CS Venkatakrishnan, also known as Venkat, which could lay out further cost reduction plans. - Telegraph

Income tax revenues have leapt by more than 70 per cent since 2010 to £264 billion, illustrating the sharp rise in the tax burden overseen by successive Conservative administrations since the party came to power more than a decade ago. Analysis of figures from HM Revenue & Customs by The Times revealed that Rishi Sunak and Jeremy Hunt have been raising income tax receipts without actually lifting headline rates. - The Times

The American entertainment group that was backing a 21,500-capacity Sphere venue in east London has pulled the plug on the project after claiming it had become a "political football" between the government and the mayor of London. Sphere Entertainment has withdrawn its planning application for the "glowing orb" near the Olympic Park in Stratford, saying that the process had descended into a turf war between Sadiq Khan and Michael Gove, the levelling-up secretary. - The Times