BusinessPolicy

Betfred Chairman Warns UK Gambling Tax Increases Could Force Nationwide Shop Closures

Betfred co-founder Fred Done has issued a stark warning that proposed gambling tax increases in the UK could make his business unprofitable and force the closure of all shops. The warning comes as the government considers tax reforms that could significantly impact the gambling industry.

Betfred Executive Warns of Potential Shop Closures Amid Tax Hike Proposals

The co-founder and chairman of Betfred, one of the United Kingdom‘s largest bookmakers, has issued a stark warning that proposed tax increases on gambling firms could force the closure of all company shops. According to reports, Fred Done stated that tax rises would represent the “biggest threat” to the industry during his 57-year career in the sector.

Economy and Trading

UK Economy Shows Modest Growth in August as Manufacturing Rebounds

The UK economy reportedly grew by 0.1% in August following July’s stagnation, according to official figures. The modest expansion keeps the country positioned among the fastest-growing major economies this year as the chancellor prepares for November’s crucial budget announcement.

UK Economy Records Modest Growth in August

The United Kingdom economy expanded by 0.1% in August, according to official figures released by the Office for National Statistics. This modest growth follows a period of stagnation in July and comes at a crucial time for Chancellor Rachel Reeves ahead of next month’s budget announcement.

BusinessPersonal Finance

UK Banking Bonus Rules Overhaul: Faster Payouts and Regulatory Changes Explained

British regulators have implemented significant changes to banker compensation rules, accelerating bonus payouts while maintaining safeguards against reckless risk-taking. The reforms align UK practices with global financial centers and come amid strong banking sector performance.

In a significant shift for Britain’s financial services sector, regulators have implemented rule changes allowing bankers to receive their bonuses more quickly while maintaining what authorities describe as robust safeguards against the type of reckless risk-taking that contributed to the 2007–2008 financial crisis. The move represents the latest step in the United Kingdom‘s post-Brexit regulatory overhaul and comes as financial firms report strong performance amid market volatility.

The New Bonus Framework: What’s Changing