Business

The boss of Britishvolt, the start-up building a battery gigafactory in Northumberland, has told Sky News that staff have agreed a “substantial” temporary pay cut as it continues work to shore up its financial future. Chief executive Graham Hoare refused to tell Ian King Live about the figures involved, but added that the executive team
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Tax rises are “likely” to come soon as the government faces an “unpalatable menu” to find ways to fill a £40bn fiscal black hole, a leading think tank has warned. A Resolution Foundation report suggests Rishi Sunak and his Chancellor Jeremy Hunt face a thankless task to re-balance the nation’s finances after former chancellor Kwasi
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The head of NatWest, which is part state-owned, has defended the amount of tax big banks pay. Alison Rose, the chief executive, said banks were taxed more than “any other sector” and more than the financial service sectors in other countries. Speaking on Ian King Live, Ms Rose said: “On taxes, the banking sector already
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Jeremy Hunt has delayed the announcement of the government’s economic plan from Halloween to 17 November, saying it will help ministers make “difficult decisions… that stand the test of time”. A medium term fiscal statement was due to be delivered by the chancellor in the Commons on 31 October – along with a forecast from
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