The eurosceptic think tank Bow Group estimates that if the UK rejoined the EU, its gross contribution could range from £28billion to £41billion, far above the £14.4billion paid in 2019, assuming the EU would not restore Margaret Thatcher's rebate. The House of Commons Library reports that in 2016 the UK's gross contribution was £13.1billion and its net contribution £9.6billion. Czech PM Andrej Babis said he would support Britain's return because 'We need more money', while Lord Redwood, Reform UK and Conservative Wendy Morton warned of new taxes, borrowing and spending and criticised Andy Burnham's plan. Pro-EU group Best for Britain said the gross figure is inaccurate because it ignores the £92billion GDP growth from membership, and a government spokesperson called the figures 'completely speculative'.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Britons warned of huge new tax if united kingdom rejoins EU - billions back to Brussels
Read the original on aol.co.uk ↗
Keywords
Open a keyword to see other news on the same topic.
Related news
- Pensioners and benefit claimants to get more DWP cash before Christmas
- Healey plots Budget raid on family businesses
According to the Telegraph, Chancellor John Healey is considering taxing business owners' income when they pass companies to their children, a change that could nearly double their tax bill. Currently, some transfers are structured to attract capital gains tax at 24 per cent rather than income tax at 45 per cent, and the plan would close this route. Accountants warn it could push many family businesses toward 'extinction' and deter new firms. The move comes ahead of Healey's first Budget on 28 October, which faces a £35bn black hole flagged by the IFS, while headroom that stood at £23.6bn in March has shrunk. He is also reportedly targeting high-street banks and a new gambling machine tax expected to raise £500m, but has reportedly ruled out aligning CGT with income tax after investor concerns.
- Andy Burnham and John Healey plot huge tax hike - how it could hit you
Chancellor John Healey is reportedly considering raising the surcharge on bank profits above £100million from 3% to 8% at the upcoming Budget, reversing a cut introduced in April 2023 under Jeremy Hunt. The change could raise some £2billion for the Exchequer, but banks warn it could inflict a £20 billion hit on the economy. Lenders may try to recoup the cost by raising mortgage rates and cutting savings rates, though that risks losing customers to rivals. Conservative and City groups say the tax would stifle investment and harm Britain's competitiveness, while the TUC backs it and estimates it would raise £2.25billion a year. The Treasury said decisions on tax are for the Chancellor to announce at fiscal events.
- Andy Burnham urged to U-turn on hated farm inheritance tax raid in Budget
Farmers have urged Prime Minister Andy Burnham to scrap the inheritance tax on family farms in the upcoming budget, saying the policy often forces families to sell land to pay the bill. The threshold was raised from £1 million to £2.5 million (£5 million for married couples) after a backlash, but farmers say that is not enough. Sandy Wade-Gery, whose Bedfordshire farm has been in his family since 1536, warned that his son could be the last William at the farm. The Conservatives and Reform UK have vowed to reverse the changes if they win the next general election, while the NFU opposes the changes and the Countryside Alliance calls for the tax to be scrapped entirely. There is speculation that further changes could be announced in next week's budget as Burnham seeks to mend ties with farmers.
- More than 30 , 000 drivers urge Government to cut fuel duty ahead of Budget - ATV Today
Campaign group FairFuelUK says more than 30,000 motorists, families, small businesses, tradespeople, farmers and hauliers have emailed the Prime Minister and Chancellor within 24 hours, ahead of the Budget on 28 October. The group is calling for an immediate cut and permanent freeze to Fuel Duty, plus a PumpWatch regulator with legal powers to investigate pump prices, and asks ministers to consider measures used in more than 40 countries. It also wants to meet founder Howard Cox to discuss his 20-year transport strategy, developed with input from more than 80,000 drivers. Cox argues cheaper fuel would lower business costs and inflation, while respondents, including a rural pensioner and a self-employed driving instructor, describe high fuel costs and limited public transport as a serious burden.
- Deputies to lay fuel duty amendments for Budget debate
Amid near-record oil prices linked to the US war with Iran, Deputy Rob Curgenven will propose keeping current duty on all motor fuels instead of raising it with inflation, citing cost-of-living pressures and GST. Deputy Neil Inder is focusing on 'white diesel', mainly used by commercial vehicles, with a freeze or a 5p-per-litre cut. Curgenven acknowledges his amendment would mean nearly £1m less tax next year than P&R's proposals but says no offset is needed. Petrol and road diesel duty is currently 90.5p per litre, while the Budget proposal would add 3.9p.
Related markets
Latest news
- One of this year's most important relationships in global financial markets is falling apart
One of the most important relationships in global markets has started to unravel over the past couple of weeks. Investors are scrambling to work out what it could mean for the economy and their portfolios.
- 2 High-Flying Dividend Stocks to Buy and Hold for a Decade
The article argues healthcare is rebounding in 2026, with Merck (MRK) shares up 39% and AbbVie (ABBV) up 24% year to date, versus about 12% for the S&P 500. Merck's second-quarter revenue rose 5% to $16.6 billion, beating estimates, with Keytruda sales of $8.4 billion, though Keytruda may lose patent exclusivity by 2028. AbbVie's second-quarter revenue grew 10.2% to nearly $17 billion and adjusted EPS rose 22.9% to $3.65, driven by Skyrizi and Rinvoq sales growing about 24%. AbbVie is on a streak of 54 consecutive annual dividend increases, including its time as part of Abbott Laboratories, qualifying it as a Dividend King. The author concludes both are attractive long-term holdings based on financial results, pipelines, and dividends.
- Nvidia (NVDA) Stock Price Lags Massive Earnings Growth—A Compelling Value Opportunity
Munro Partners' Munro Global Growth Fund posted a -12.6% net return in Q3 2026, trailing the MAET.ASX return of -13.8%, with long holdings the main detractors. The fund's letter named NVIDIA (NASDAQ:NVDA) its largest contributor, citing strong earnings growth and guidance for at least 70% revenue growth next fiscal year, versus consensus of 45%. Nvidia reported quarterly revenue of USD96.2bn in August, up 106% year on year, and management said growth would have been closer to 100% without supply constraints. As of October 12, 2026, NVDA closed at $214.13, down 4.23% over the past month and up 19.23% over the past year, with a $5.16 trillion market cap and a 52-week range of $164.27 to $243.37. The fund says demand for semiconductors and AI remains strong, creating a constructive setup as capex and political fears are now priced in.
- Better Artificial Intelligence Stock for 2026: C3.ai vs. SentinelOne
The article compares C3.ai, which sells enterprise AI applications, with SentinelOne, which provides AI-powered autonomous cybersecurity. In fiscal 2026 (ended April 30), C3.ai's revenue was nearly $250.3 million, down 35.7%, with a net loss of $470.4 million and negative free cash flow of $190.7 million. SentinelOne's fiscal 2026 (ended January 31) revenue reached $1.0 billion, up 21.9%, with a net loss of $450.7 million and free cash flow of about $75.9 million, though stock-based compensation equaled roughly 388.4% of operating cash flow. The article cites C3.ai's restructuring plan from February 2026 and long government sales cycles as risks, and SentinelOne's competition from larger vendors and reliance on Amazon hosting. It says SentinelOne trades at a lower valuation relative to sales, while C3.ai has no future earnings estimates.
- Salazar Resources to Begin Drilling the Yumi Gold-Silver Veins at Tarqui, with Porphyry Drilling Planned at Monja, Ecuador
Salazar Resources closed a $3,500,000 non-brokered private placement announced on October 8, 2026, and outlined its exploration plan. Phase 1 is about 1,500 metres of drilling in five holes at the Yumi gold-silver veins on its 100%-owned Tarqui project, with drilling expected to begin in late October 2026, and the veins have not previously been drilled. Selective rock-chip samples returned 105 g/t Au and 1,038 g/t Ag, and historical BHP holes intersected porphyry-style mineralization nearby, which the company interprets as lying on the periphery of a porphyry center not yet located. Phase 2 contemplates up to about 3,500 metres of drilling in four holes at the 100%-owned Monja copper-gold porphyry target from the first quarter of 2027, subject to surface access and permits. A soil survey of about 895 samples is also planned at Quimi, part of the Tarqui-Quimi project.
- Musk: AI’s Hard Part Is “Scaling Power”: 3 Stocks Uniquely Suited to Win This New Bottleneck Trade
Microsoft said it will scale its Maia chips to multi-gigawatt deployments starting next calendar year, and Elon Musk said scaling power is the hard part of AI. The article argues power is an input that chip and app companies cannot copy quickly, which favors Vistra (VST), Constellation Energy (CEG) and GE Vernova (GEV). Vistra has lost nearly a fifth of its value over the past year even though its adjusted EBITDA rose to $5.91 billion, while Constellation's normalized EPS is expected to reach $13.29 in fiscal 2027. GE Vernova's revenue is expected to reach $60.7 billion by fiscal 2028, and Jefferies has a $298 price target on Vistra. The article warns that all three stocks could move with the mood around AI, regardless of their results.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.