Source: Sharecast
The Treasury should consider a wealth tax to close the growing gap in the public finances, according to a Labour former shadow chancellor. Anneliese Dodds, who held the role under Keir Starmer in opposition, said ministers must have a “full and frank discussion” with the public about the “really big decisions” they had to take at this autumn’s budget. – Guardian
Taxpayers were hit with a record £47bn bill to fund public sector pensions last year. Civil servants, doctors and teachers banked pots worth three times more than their private sector counterparts. HM Revenue and Customs (HMRC) data showed contributions from public sector employers hit a record high in 2024, eclipsing those made by businesses in the private sector, which stood at £46.4bn. – Telegraph
Britain’s imports of gas have surged as Ed Miliband’s shutdown of the North Sea triggers a slump in production. Government figures published on Thursday show imports jumped by 20pc between January and March just as North Sea gas output plummeted 6.9pc. The fall comes as the Energy Secretary’s rise in windfall taxes and ban on new drilling begin to bite. – Telegraph
The United States will enter a 90-day negotiating period with Mexico over trade but the 25 per cent tariff rates will remain in place, President Trump said on Thursday. Posting on his Truth Social platform, Trump said a phone conversation he had with President Sheinbaum of Mexico was “very successful in that, more and more, we are getting to know and understand each other”. – The Times
Gold demand rose by 45 per cent year on year in value terms to a record $132 billion in the second quarter of the year, in step with the price of the precious metal. According to the World Gold Council, the industry body for the gold mining industry, demand rose by 3 per cent in quantity terms to 1,249 tonnes. – The Times