LondonMetric boosts bid for UK's Urban Logistics REIT to $887.7 million
April 14 (Reuters) - Britain-based property investment company Urban Logistics REIT (SHED.L), opens new tab on Monday said it on April 13 received a updated enhanced proposal from British landlord LondonMetric (LMPL.L), opens new tab which values the company at 674 million pounds ($887.73 million)
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Daily Mail
14 minutes ago
- Daily Mail
As Rachel Reeves prepares to splurge billions on NHS and tech... will she stick to her promise NOT to raise taxes?
was last night urged to keep her promise not to hike taxes again amid fears more raids are on the way. The Chancellor will unveil big spending cuts to some departments on Wednesday as she looks to plug a black hole in the public finances of as much as £60 billion. But there are growing fears that the cuts, part of her spending review, won't be enough and she will be forced into another round of tax hikes this autumn. Ms Reeves has already come under fire for hiking employers' National Insurance in last year's autumn Budget as part of a wider £40 billion tax raid. It came as she was still locked in talks with Home Secretary Yvette Cooper about planned cuts. Ms Cooper's department is among those expected to take the brunt of this week's cuts despite police chiefs warning of 'far-reaching consequences' on their ability to fight crime. Last night Housing Secretary Angela Rayner resolved a similar clash with the Chancellor, reaching an agreement over the settlement for her department. However, Ms Cooper was still holding out against police cuts, with negotiations expected to go down to the wire ahead of Wednesday's spending review. While some departments are facing cuts, others are in line for cash injections, with an extra £30 billion earmarked for the NHS and £4.5 billion for schools. Separately, there is expected to be £86 billion of spending announced for infrastructure investment. This includes Britain's fastest-growing sectors, such as technology and sciences. Alongside demands from Nato bosses to spend more on defence, and following a U-turn over the winter fuel allowance and hints the two-child benefit cap will be lifted, there are growing fears Ms Reeves will have no choice but to hike taxes again later in the year to balance the books. This is despite her repeatedly promising after last year's Budget that 'we're not going to be coming back with more tax increases '. Sir Mel Stride, the Tory Shadow Chancellor, said: 'Rachel Reeves has maxed out the country's credit card, hiked taxes to record levels and sent borrowing sky-rocketing. It now seems inevitable she will do what Labour Chancellors always do and raise taxes the first chance she gets.' Sam Miley, an economist at forecasters the Centre for Economics and Business Research, said: 'Borrowing is running higher than expected and the growth outlook remains poor. 'I'd expect there to be a focus on stealth taxes, such as maintaining the freeze on allowances. This would raise revenue from —employees, without breaking commitments regarding rates of income tax.' The thresholds around National Insurance and income tax are frozen until 2027-28. It means millions more are being dragged into paying higher rates of income tax as inflation – currently around 3.5 per cent – fuels wage increases. It is understood Ms Reeves is being urged by Treasury officials to look at extending this by two years to 2030 this autumn. A Treasury spokesman said: 'This Government inherited the previous government's policy of frozen tax thresholds. The Chancellor has announced that we would not extend that freeze. 'We are also protecting payslips for working people by keeping our promise to not raise the basic, higher or additional rates of income tax, employee National Insurance or VAT.'
The Sun
29 minutes ago
- The Sun
UK's ‘outrageous' migrant hotel bill revealed & it takes every penny in tax from all people in city as big as MANCHESTER
BRITAIN'S £4.7billion annual bill to keep migrants in hotels and look after them takes every penny of tax from 582,000 workers. The shocking new statistic is equivalent to every grafter in Manchester stumping up for asylum seekers through their pay packet. 4 4 4 Jamie Jenkins, who did the research, said: 'This isn't just unsustainable. It's outrageous. " A government that borrows billions each year, can't control borders, and taxes its citizens to pay for hotel rooms and housing for people who've just arrived is not working for the British public. 'It's time for a system that protects the people who pay in. That rewards contribution. That puts citizens first." Latest figures show there were 32,345 asylum seekers staying in up to 220 hotel. It costs £41,000 a year to house each, up from £17,000 in 2020. Ex-Office for National Statistics analyst Mr Jenkins found the average UK salary was £38,224. Each worker pays income tax and National Insurance contributions of £8,081. So 582,000's entire tax bills go on housing migrants — equal to the working population of Manchester. And it is significantly larger than the employed populations of Nottingham, Sheffield and Leeds. The total is also higher than the tax contributions of every UK mechanic and HGV driver combined. A total £4.7billion went on asylum support in 2023-24 — £3.1billion on accomodation. 13 migrants jumped from the back of a lorry at a Sainsbury's distribution centre in South East London The rest went on grants to local authorities, running sites like the disused Bibby Stockholm barge in Dorset, plus £49-a-week subsistence allowance. The £4.7billion total was up from 2022-23's £3.6bn. Nearly 15,000 people have crossed to Dover in 2025, up 42 per cent on this time year. French cops, given £480million of UK taxpayer cash, are failing to intercept them. 4
Scottish Sun
29 minutes ago
- Scottish Sun
UK's ‘outrageous' migrant hotel bill revealed & it takes every penny in tax from all people in city as big as MANCHESTER
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) BRITAIN'S £4.7billion annual bill to keep migrants in hotels and look after them takes every penny of tax from 582,000 workers. The shocking new statistic is equivalent to every grafter in Manchester stumping up for asylum seekers through their pay packet. 4 Britain's £4.7billion annual bill to keep migrants in hotels and look after them takes every penny of tax from 582,000 workers 4 The shocking new statistic is equivalent to every grafter in Manchester stumping up for asylum seekers through their pay packet Credit: Getty 4 Jamie Jenkins, who did the research, said: 'This isn't just unsustainable. It's outrageous' Credit: PA Jamie Jenkins, who did the research, said: 'This isn't just unsustainable. It's outrageous. "A government that borrows billions each year, can't control borders, and taxes its citizens to pay for hotel rooms and housing for people who've just arrived is not working for the British public. 'It's time for a system that protects the people who pay in. That rewards contribution. That puts citizens first." Latest figures show there were 32,345 asylum seekers staying in up to 220 hotel. It costs £41,000 a year to house each, up from £17,000 in 2020. Ex-Office for National Statistics analyst Mr Jenkins found the average UK salary was £38,224. Each worker pays income tax and National Insurance contributions of £8,081. So 582,000's entire tax bills go on housing migrants — equal to the working population of Manchester. And it is significantly larger than the employed populations of Nottingham, Sheffield and Leeds. The total is also higher than the tax contributions of every UK mechanic and HGV driver combined. A total £4.7billion went on asylum support in 2023-24 — £3.1billion on accomodation. 13 migrants jumped from the back of a lorry at a Sainsbury's distribution centre in South East London The rest went on grants to local authorities, running sites like the disused Bibby Stockholm barge in Dorset, plus £49-a-week subsistence allowance. The £4.7billion total was up from 2022-23's £3.6bn. Nearly 15,000 people have crossed to Dover in 2025, up 42 per cent on this time year. French cops, given £480million of UK taxpayer cash, are failing to intercept them.
