Latest news with #Reeves
Yahoo
15 hours ago
- Business
- Yahoo
Our pensions are no longer in safe hands
Labour's solemn election promise not to tax 'working people' has not aged well. Rachel Reeves promptly used her first Budget to unleash a jobs tax on employers that has helped to see unemployment rise and job vacancies wither. The Chancellor will argue that this is not a direct tax on workers' pay packets, but she will have been fully aware of the inevitable consequences: wage suppression and higher prices for consumers. But less than a year after winning power and it seems Labour has given up all pretences that workers do not face tax rises. This week, HM Revenue and Customs unveiled plans to explore a tax raid on pension contributions made via salary sacrifice work schemes. This would be a blatant and direct tax attack on our pay slips. The ideas on the table could cost the average earner more than £500 a year in extra income tax and National Insurance – and whittle away their pension pot and their retirement potential. The most unpalatable suggestion is stripping workers of both income tax and National Insurance relief on contributions. This would be nothing short of theft given retirees are now paying record amounts of income tax on their pensions and at record rates. Also this week, Reeves pushed ahead with plans to steer pension funds into investing a proportion of their holdings into British companies, with ministers wanting the power to force funds to comply if necessary. None of this is putting the saver's interests first. This all comes after warnings that the Chancellor could be forced to raise taxes by up to £30bn in the next Budget to fund benefit giveaways and the rising cost of borrowing. It now seems certain that pensions will be targeted again in the Autumn Budget. It would be the latest in a long line of pension tax raids mooted by this Government. Reeves has already unleashed an inheritance tax raid on retirement savings, and last year she was considering plans to slash the tax-free pension lump sum down to £100,000. As a rising star in the Labour Party, she also told of her ambition to reduce tax relief for higher earners and to put a lifetime cap on Isa contributions. This is on top of Angela Rayner's demands to reinstate the pensions lifetime allowance and to force more of us to pay the highest rate of income tax. This Government has so far proved unashamed in its entitlement to tax whatever it sees fit, but it is more worrying than that. Labour has shown a disregard for the security and confidence workers need when it comes to our retirement savings. Ministers have been at best naive and at worst incompetent, but the overarching message is that our pensions are no longer in safe hands. The goalposts could move at any point. Savers need incentives and assurance to put money away for retirement, and a failure to save will mean more pensioners falling back on the state. None of this meddling is helping anyone. And the dreadful truth is that these tax raids, for which the Chancellor will deflect blame, come after public sector workers were awarded inflation-busting pay rises and bigger pensions. The Chancellor is mollycoddling one part of Britain and exploiting another to pay for it. It's short-sighted politics at its very worst. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
New Statesman
18 hours ago
- Business
- New Statesman
The revolt against Reeves
Photo by Toby Melville -Britain is weary of spending cuts. Mark Rowley, the Metropolitan Police commissioner, has warned that forces bear the 'scar tissue of years of austerity'. Nigel Farage, in his new natalist guise, has called for the abolition of the two-child benefit cap. Cabinet ministers in unprotected departments revolt against the prospect of further cuts. Sources dismiss reports that Angela Rayner and Ed Miliband 'stormed out' of a meeting with Darren Jones, the Chief Secretary to the Treasury ('It was cordial and it was virtual,' insists one insider). But they do not deny the tensions within government ahead of Rachel Reeves' Spending Review. Rayner, tasked with delivering 1.5 million new homes by the end of this parliament, fears this pledge will be impossible to meet without a significant increase in spending on social housing (funding for the affordable homes programme only lasts until next year). She also wants additional support for local government to prevent further council bankruptcies (the number reliant on 'exceptional' support has risen from 18 to 30 over the past year). Other cabinet ministers yet to settle with Reeves include Yvette Cooper, Ed Miliband and Steve Reed – all lead unprotected departments and have their own unenviable targets. At the election, Labour pledged to provide 13,000 more neighbourhood police officers, to halve knife crime and to halve violence against women and girls. It promised to upgrade five million homes to cut energy bills and reduce emissions. And it vowed to 'champion British farming' (post-Brexit subsidies are expected to be slashed). The Spending Review is the moment at which ambition will collide with reality. The Treasury dismisses any talk of a return to austerity. To Labour critics calling for Reeves to raise taxes or loosen her fiscal rules it points out that the Chancellor has already done both. Earlier this week, Reeves boasted that the latter would enable £113bn of new capital investment in homes, transport and energy. But the Chancellor faces two self-imposed constraints. First, though she loosened her rules in one area, she tightened them in another (in a bid to maintain market confidence). Rather than balancing the current budget within five years, Reeves has pledged to do so within three years. This is the target that is now necessitating cuts to unprotected departments. 'Capital spend takes time, and day-to-day spending is still massively tight and constrained,' a minister told me. 'Interventions that will have an impact on voters in the first four years are off the table, and that's what's killing us. Borrowing has gone up but we're not borrowing to do the things that we want to do – we're borrowing to fix the mess of the last lot.' Subscribe to The New Statesman today from only £8.99 per month Subscribe Chancellors caught in such a bind would normally raise taxes, but here Reeves faces her second constraint. She has vowed not to increase income tax, National Insurance (on employees), VAT and corporation tax for the duration of this parliament – the taxes that account for 70 per cent of government revenue. As a consequence, ahead of her next Budget, the Chancellor faces a desperate search for alternatives. U-turns on winter fuel payment cuts and (most likely) the two-child benefit cap only intensify the pressure. Here is precisely why some ministers believe Reeves should have used Donald Trump's inauguration and the rise in UK defence spending to stage an 'economic reset' – loosening her fiscal rules and/or revising her tax pledges. That, both No 10 and No 11 believe, would have carried a high economic and political price. But the risk for Reeves is that she is eventually forced into her own messy reset. This piece first appeared in the Morning Call newsletter; receive it every morning by subscribing on Substack here Related
The Hindu
a day ago
- Entertainment
- The Hindu
‘Good Fortune' teaser: Keanu Reeves plays a downcast angel in new Aziz Ansari comedy
Lionsgate has released the first trailer for Good Fortune, a comedy written and directed by Aziz Ansari, offering a first look at Keanu Reeves in the unlikely role of a disillusioned guardian angel. The film is set for theatrical release on October 17. Good Fortune follows Gabriel (Reeves), a weary celestial being who grows frustrated with his limited responsibilities and begins to crave more meaningful work. In a bid to make a real difference, he targets Arj (played by Ansari), a struggling gig worker in need of a break. 'Is there any way I can have more meaningful duties? I want to guide people. I want to change their lives,' Reeves asks in the trailer. In response, Sandra Oh, who plays a fellow celestial figure, replies, 'To save a lost soul, you have to find a lost soul.' Seth Rogen, Keke Palmer and Sandra Oh round out the ensemble cast. Good Fortune marks Ansari's debut as a feature director. He also wrote the screenplay and serves as a producer alongside Anthony Katagas and Alan Yang. The project was previously previewed at CinemaCon, where Ansari spoke about his desire to shift back into comedy after recent work in more dramatic roles. 'This movie is about what a lot of people are doing: struggling,' Ansari told attendees. 'If you can write about things that everyone is dealing with that no one is talking about, you're in a good area.'
Chicago Tribune
a day ago
- Sport
- Chicago Tribune
Known for his pitching, West Aurora's Zach Toma takes his hitting to whole nother level. ‘Just feeling confident.'
West Aurora's Zach Toma is best known for his pitching, and rightfully so. The junior left-hander has been one of the area's breakout stars this season. What casual observers may not realize is he has also become the Blackhawks' leading hitter this spring. So, bring on the spotlight in the batter's box. 'I really wanted to be the guy up in that situation,' Toma said. 'I felt like I was seeing the ball really well, and I kind of felt like he was going to throw me a curveball in that situation. 'I got it and didn't miss it.' Indeed, Toma's two-run double in the bottom of the fourth inning Wednesday was the difference in a 5-3 victory over Neuqua Valley in a Class 4A Waubonsie Valley Regional semifinal in Aurora. Toma also settled in on the mound after his big hit and finished off a complete-game win for the Blackhawks (27-7), who will play at 11 a.m. Saturday for the regional title against the semifinal winner between Naperville Central (19-11) and Waubonsie Valley (14-12). While Toma struck out six and allowed three runs, two earned, on three his and two walks, Braiden Williams came through with a pinch-hit, two-run single in the fourth to tie the game. Henry Hinkle and Eliseo Liscano added two hits apiece for West Aurora. Colton Maita doubled and scored for Neuqua (13-17-1). But the big double by Toma loomed large in the end. 'I expected it out of him,' West Aurora coach John Reeves said. 'He's been great with the bat in his hands. He can do it both ways, on the mound and at the plate.' That's true on both accounts. Offensively, Toma leads the team with 46 RBIs. As far as the pitching part of the equation goes, Toma improved his record to 7-2 with a 1.07 ERA. Reeves credited a program-wide mandate to increase time in the weight room as helping with that process. Mason Atkins and Toma, two football players, took it to heart the most. 'They spent a lot of time in the weight room, which I think shows,' Reeves said. 'Especially with guys like Mason and Zach.' Toma cited several factors for his offensive breakout, including switching travel teams and reworking his swing. The biggest factor, he agreed, came in the weight room. 'The strength part of it especially, we lift all the time,' Toma said. 'We lift in season. In past years, I haven't lifted in season. This year, that's been a huge difference-maker with my strength. 'Just feeling confident up there. Our coaches pushed the whole team into the weight room. And then Mason, he's always getting on me about lifting after practice, so it helps.' Toma's offense was needed after he got off to an uncharacteristically shaky start on the mound. Through 3 1/3 innings Wednesday, he trailed 3-1. He retired the final two batters of the fourth to get out of a jam, however. After his double, he retired Neuqua's final nine hitters in order. 'The beginning of the game, I wasn't getting that first-pitch strike down,' Toma said. 'Then toward the end, I really started to get that pitch down. 'Getting that first-pitch strike is huge, man. Then you have every pitch in your arsenal to throw.' Toma's heroics were set up by Williams' clutch hit, which helped the Blackhawks catch their collective breath. 'It felt really good to help the team out and win this game,' Williams said. 'That just raised our confidence and helped us.' It's always nerve-racking to be in a close game in a one-and-done scenario, but Toma was unfazed. He hopes that paves the way to the program's first regional title since 2006. 'It got me nervous a little bit, but to be honest, we had so much time left and I have a lot of confidence in our hitters,' Toma said. 'I knew we'd come through and scrap out some runs.'
Yahoo
a day ago
- General
- Yahoo
TSA warns travelers of scams in the airport
HUNTSVILLE, Ala (WHNT) — We all have our routine when we travel, and for many, that looks like charging up your phone before you board your flight. Although the reality is that scammers are everywhere, and they are using this as a way to steal your information. Salmonella outbreak: Cucumber products sold at Walmart, Kroger stores recalled 'Somebody might have left a USB cord, and you're like, 'Oh, wow, this is great….I don't have mine with me…. let me just plug in here,'' said Karen Reeves. 'That's where the malware can be downloaded, either in the cord or the actual USB port.' The TSA is now warning travelers of scammers who are using a tactic known as 'juice jacking.' 'That is where you might plug in to a public port, maybe at the airport, and malware is downloaded onto your phone or someone access your, accesses your sensitive information,' said Reeves. She is the CEO of the Better Business Bureau of North Alabama. She said you should stay away from group charging ports and only plug into the individual port under your seat. 'Bring your own charger with you,' she said. 'Keep that phone locked while you're charging. Another thing, keep your software updated because that's what will help protect your phone and your information as well.' 📲 to stay updated on the go. 📧 to have news sent to your inbox. If you can, she said bringing your own portable charger is the safest method. When it comes to Wi-Fi, she said scammers can also get your personal information if you are on the free, public Wi-Fi. 'Avoid pubic Wi-Fi because you don't know who has access to that, and anyone could access your information,' she said. She recommends you set up a personal hotspot. If you see any type of scam, they ask that you report it to 'Scam Tracker.' You can find it on the Better Business Bureau website. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
