Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Wednesday newspaper round-up: Worklessness crisis, telecoms companies, fuel duty

(Sharecast News) - Employers have been told in a landmark government review that fixing Britain's health-related worklessness crisis will require them to spend £6bn a year on support for their staff. In a major report before this month's budget, Charlie Mayfield warned that businesses needed to play a more central role in tackling a rising tide of ill-health that is pushing millions of people out of work. - Guardian Six of the biggest phone companies have said they will work together and upgrade their systems to stop fraudsters being able to "spoof" UK phone numbers and commit fraud. New technology is expected to be rolled out over the next year that will stop criminals impersonating legitimate bodies and subsequently duping people into believing they are talking to real companies, banks and government departments. - Guardian

Fuel duty has long been one of those issues governments have been happy to kick down the road. For the past 15 years successive chancellors, fearful of a fierce backlash, have refused to green-light an annual inflation-linked rise. This is despite the Office for Budget Responsibility (OBR) continually including it in its revenue forecasts for the year ahead. But an attack on drivers could be too appealing for Rachel Reeves to ignore at the Budget later this month. - Telegraph

Businesses controlled by a prolific film producer behind movies which featured stars including Elizabeth Hurley and Kelsey Grammer are being pursued by HM Revenue & Customs amid questions over their use of taxpayer funding. Highfield Grange Production Services, ultimately owned by Alan Latham, an accountant and producer, is being investigated by liquidators to determine why film investments of £20.4 million were written down to zero, depriving creditors including HMRC of recoveries. - The Times

Rachel Reeves needs to find £50 billion in tax rises and spending cuts at the budget or risk a Liz Truss-style crisis in the bond markets, the head of one of the UK's most respected economic think tanks has warned. David Aikman, director of the National Institute of Economic and Social Research (NIESR), said the chancellor needs to triple the size of her fiscal headroom to £30 billion and ensure the UK's debt pile is steadily falling to retain the confidence of the bond markets. - The Times

Share this article

Related Sharecast Articles

Wednesday newspaper round-up: Tariffs, BitMEX, Character.AI
(Sharecast News) - The business secretary has hit back at European demands for British tariffs on Chinese imports, saying the government will not change its trade rules because of pressure from Brussels. Jonathan Reynolds warned that the government would not bow to calls from other countries for the UK to hit Chinese vehicles with import taxes, despite political pressure to align with the EU in exchange for deeper future economic ties. - Guardian
Tuesday newspaper round-up: IMF warning, Poundland, Burberry
(Sharecast News) - The global economy "could soon test the limits of resilience", as emergency oil stocks run low and government budgets become overstretched, the International Monetary Fund has warned. In its twice-yearly World Economic Outlook, the IMF said global growth had withstood the Middle East conflict better than feared over the past six months. It said the rerouting of oil supplies away from the strait of Hormuz, and the release of strategic energy stocks, had helped to contain the impact on oil prices from the US-Iran war. - Guardian
Monday newspaper round-up: Budget, van drivers, Heathrow
(Sharecast News) - John Healey has been warned by Britain's leading tax and spending experts that his budget risks being a "work of fiction" unless he sets out plans to cover £35bn in spending pressures. As the war in the Middle East rattles the public finances, the Institute for Fiscal Studies (IFS) said the damage from higher inflation meant the chancellor would need to either top up funds for his current government spending plans or impose deep real-terms cuts by the end of the decade. - Guardian
Friday newspaper round-up: Goldman Sachs bonuses, TalkTalk, credit card defaults
(Sharecast News) - Top bosses at Goldman Sachs are in line to share a bonus pot worth up to $500m (£378m) this year, marking one of the biggest payouts in the Wall Street bank's history. The eye-watering sum will be shared between 20 bankers, with its chief executive, David Solomon, due to take about $100m (£75.6m) of the reward, which is made up of Goldman Sachs stock. That is more than double the value of the record $47m (£35.5m) annual pay packet he was granted last year. - Guardian

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.