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Joe Vella is the driving force behind All Island Handyman & Construction, a highly respected, full-service construction company serving Suffolk County, East Hampton, Southampton, and Shelter Island.

Founded in 2007, All Island Handyman & Construction has become one of Long Island’s most trusted names in home improvement, specializing in renovations, custom builds, home extensions, and damage repairs. With over 25 years of experience in the construction industry, Joe Vella’s dedication to quality craftsmanship and personalized service is the foundation of his success.

From an early age, Joe developed hands-on expertise in masonry, carpentry, and roofing, which led him to pursue a full-time career in construction. Known for his attention to detail and commitment to excellence, Joe ensures that every project is executed to the highest standards, personally overseeing each job from start to finish. This hands-on approach has earned All Island Handyman & Construction numerous accolades, including awards for Best Builder, Best Contractor, Best Handyman, Best Kitchen and Bath Remodeling, and Best Remodeling.

Joe’s company is recognized for its exceptional customer service and high referral rate, with 90% of business coming from client recommendations. Featured on CBS’s Secret Celebrity Renovation and a hall of fame honoree, All Island Handyman & Construction reflects Joe’s passion for helping clients create beautiful, functional spaces. Joe’s focus on quality and integrity continues to shape All Island Handyman & Construction as a leader in Long Island home renovation.

What kinds of handyman services does All Island Handyman & Construction offer?

Our handyman services cover a broad range of home maintenance and repair needs. We handle everything from minor repairs like fixing leaks, painting, and sheetrock installation to larger projects, such as deck building, carpentry, masonry, and even custom trim installations. We’re here to take care of the “to-do” lists our clients have, whether it’s a quick fix or something more involved.

How do you ensure quality in even the smallest handyman projects?

Quality is our top priority, no matter the size of the project. For handyman services, I still apply the same level of attention and standards as I would with a large renovation. I personally oversee the work, make sure our professionals are fully trained, and use quality materials that last. We take the time to understand our clients’ needs, so we deliver work that not only meets but exceeds their expectations.

What do clients typically appreciate most about your handyman services?

Our clients appreciate the reliability and consistency of our team. They know that when they call us, we’ll be there on time, ready to get the job done right the first time. Many clients tell us they’ve had issues with other handyman services in the past, where communication or reliability was lacking. We focus on making every step seamless and ensuring clients feel confident that their homes are in good hands.

How can someone decide if they need a handyman or a full renovation?

Great question! If the project is more about regular upkeep, minor repairs, or a small upgrade, then a handyman service is perfect. But if it involves structural changes, large-scale remodeling, or custom builds, that’s where we move into renovation territory. We’re happy to consult with clients on what might work best for their needs and give an honest assessment of the time and investment each option would entail.

How do handyman services add value to someone’s home?

Consistent maintenance and small upgrades go a long way in preserving a home’s value and preventing bigger problems down the road. By taking care of minor repairs promptly, homeowners avoid costly fixes later and keep their property in top condition. Whether it’s a fresh coat of paint, new fixtures, or fixing leaks, these small touches make a big difference in the home’s appearance and function. Plus, it provides peace of mind for homeowners, knowing their house is well-maintained.

What’s your advice to homeowners looking for a reliable handyman service?

Look for experience and consistency. A reliable handyman service should have positive reviews, proven experience, and a professional approach. Don’t be afraid to ask questions or request references – any reputable handyman will welcome the opportunity to prove their reliability. And most importantly, choose a service that listens to your needs and communicates clearly, so you know exactly what to expect.

How quickly can you respond to emergency handyman requests?

We understand that emergencies can’t wait, so we offer a 24-hour emergency service to handle urgent issues like leaks, structural damage, or repairs needed after a storm. Our goal is to provide immediate support and prevent any further damage. When clients reach out with an emergency, we prioritize getting a skilled professional on-site as soon as possible to assess and address the issue.

What’s one common handyman job that people tend to overlook?

One task that’s often overlooked is preventive maintenance, especially with things like chimney and vent cleaning, leak detection, and waterproofing. These small jobs are easy to forget about but play a huge role in the long-term condition of a home. Regularly checking for leaks, fixing minor cracks, or cleaning out vents can prevent costly repairs down the line. We always recommend clients take a proactive approach to their home’s upkeep.

How do you see the role of a handyman evolving as the needs of homeowners change?

Homeowners today are busier than ever, and they’re looking for dependable solutions to keep their homes in top shape. As needs change, we’re also seeing a growing demand for eco-friendly materials, energy-efficient installations, and tech upgrades in homes. We aim to stay adaptable, providing modern solutions in our handyman services that align with the latest trends and technologies, while maintaining our commitment to quality and craftsmanship.

Read more:
All Island Handyman: Joe Vella’s Mission for Quality Home Care

The iGaming industry is highly competitive, and the market never stands still, even when there’s been no big news for a while. Never stopping is part of the policies of the huge market players, and PIN-UP holding is definitely no exception to this rule.

Marina Ilina from PIN-UP GLOBAL shared thoughts on the iGaming market’s major changes, potential, and challenges and explained how she, as the CEO, views the industry’s future.

Ecosystem vs. Holding: What’s the Future of PIN-UP GLOBAL?

At the very beginning of the conversation, Marina Ilina emphasizes the technology-driven, ever-changing nature of the iGaming industry. This is a complex, dynamic, and tightly regulated business, and the only way for everyone to keep up is never to stop their development and evolution. That’s the foundation of the holding’s strategy. PIN-UP is focused both on technology and the variety of solutions it offers to partners. The brand is expanding its geography, becoming visible and recognizable in promising new markets, and creating a serious portfolio due to the investment fund.

Reorganization & Restructuration as the Part of the Strategy

When asked about the changes that PIN-UP has faced between 2023 and 2024, Marina Ilina emphasizes the importance of the transition from the ecosystem format to a holding company, placing it above all other changes. PIN-UP became an ecosystem in 2021. As is often the case, the more popular the format became, the less meaningful it was. A close look at the iGaming market reveals that the “ecosystem” has become just a widely used fashionable word, and it’s no longer enough to identify the role, function, and organizational structure of big players like PIN-UP GLOBAL.

A holding structure that demonstrates core principles like full transparency and ultimate reliability is a better fit. Marina Ilina notes that they expect to get multiple certifications and licenses, making their solutions even more competitive. This is crucially important, considering that PIN-UP is now focused on B2B market, offering unique, outstanding products backed not only by the technology and team’s creativity but also by lots of experience and deep expertise.

It’s interesting how the team sees failures. The company views them as opportunities for future growth. Each challenge allows the company to draw a lesson so that it can grow and develop further. According to Marina Ilina, for PIN-UP, mistakes are basically just part of the work in progress.

More than Just Management: What Makes a Good Leader in iGaming

It’s no secret that the competition in the iGaming market is fierce. Being a leader of a huge holding herself, Ilina agrees that her management style is demanding, but that’s not all that makes a good CEO.

First and foremost, a leader must see the company’s right direction and fully understand why it should move this way. PIN-UP acts according to its two-year plan — the industry is changing too rapidly to plan for the longer term. That’s reflected in the structural level. All the employees have specific goals to achieve in shorter and longer work periods. Every department is part of the system, and each contributes to the general growth.

With such a high level of responsibility, everyone is 100% motivated to complete the task, as the entire holding company is expecting the result. In this context, the leader’s role in establishing the right pace, process optimization, and evaluating competencies can hardly be overestimated.

Every manager must be open to new ideas and oriented on the results. Moreover, every employer must have a clear understanding of why they are doing what they do and why that is absolutely worth every effort. That’s why PIN-UP GLOBAl has made intellectual honesty and full integrity their top priorities. The goals can be achieved only if everyone who participates in the working process communicates honestly. If someone can’t cope with the task, it’s immediately addressed to keep the development process going.

iGaming Regulations: Challenges & Room for Improvement

Within the past few years, many countries have made their gambling regulations even stricter. The question, however, is whether such tightening will impact the industry in a good way or just make it go in the shadows.

Marina Ilina says that in a perfect world, the government should work shoulder-to-shoulder with the top players in the market to create legitimately relevant regulations. In reality, however, the situation is often the exact opposite of that. Sometimes, the superficial approach leads to businesses either leaving the country or going into the shadows.

Basically, there are the two most critical regulation aspects: the taxes for operators, and taxes for players, and gray market regulation. However, some states just tighten up the market players with multiple deductions, supposing it will work well for society and economics.

In practice, it makes players choose gray businesses over approved ones, and operators avoid working in these countries. Now, all eyes are on Brazil. The approach to regulation in this country will determine whether iGaming business will enter this market or not.

Still, PIN-UP GLOBAL offers software solutions that are customizable for regulatory markets. They cover it all, from the must-have responsible gaming policies to KYC (know your client) tools. However, they also adapt to local customer preferences and offer great marketing solutions, allowing customizing loyalty programs and communication tools according to local legislation. That allows the holding to expect more and more new franchisees to be interested in their product.

The Present & Future of PIN-UP Holding in iGaming

How does a big holding like PIN-UP see opportunities for growth? Will the multifunctionality of the solutions, innovations, or blockchain technology be the game-changer of the industry? All these directions are important, and Marina Ilina shares her thoughts on all of them.

PIN-UP Multifunctional iGaming Solutions

All PIN-UP products are divided into multifunctional platforms, which means they can integrate smoothly with multiple providers and operators. There’s an opportunity to get a great CRM and use marketing and retention tools, and a top affiliate solution is expected to be launched soon. The holding doesn’t stop there, though. Marina Ilina mentions that the market players will be able to use the all-in-one product from PIN-UP, covering such important aspects as risk management and antifraud on a fundamentally new level of quality.

Innovations: The Challenge or the Key to Growth?

Innovations will apply both to the games and the user experience on the platforms. The games are supposed to be really diverse. A good selection will include basic games with simple interfaces and less room for decision-making, while advanced solutions will have a lot of action, deep mechanics, and multiple bonus features.

As for the user experience, major changes will be applied to improve the automation of the processes. The solutions offered to a player will be simpler, and the human labor will be replaced by smoother solutions, in particular, for communication. Such changes will boost the convenience and diversity of funnels. Software developers can get creative and offer something new to a user.

Cryptocurrencies & Their Potential in iGaming

According to Marina Ilina, the PIN-UP team sees the potential of cryptocurrencies and blockchain technology. At the same time she admits though they can really boost convenience and transparency, it’s still hardly the most widely used payment solution for now. Holding is now focused on more popular payment options but keeps an eye on crypto. It’s very likely to evolve the entire industry and will become a big competitive advantage in the future.

Cybersecurity

PIN-UP has made cybersecurity and partners’ data and transactions their top priority. The holding takes both organizational and technical measures, and its approach is multi-level. Employers use the workstations both to develop and operate all the products. Moreover, the team doesn’t just use the old approach that works well enough. Safety solutions are constantly being modernized, and everyone who works for the holding gets informed of the newest types of treats before they become an actual problem. Round-clock monitoring, in turn, helps address all the issues in real-time and respond properly to them.

Startups: New Ideas

PIN-UP has always been interested in promising startups related to iGaming. When asked about the new interesting projects, Marina Ilina notes that they keep looking for new ideas and directions — currently, the team is reviewing hundreds of applications within the 6-month time frame.

Still, she also notes that the projects are really different. Most are just ideas that may work, but they don’t come with financial models and basic estimations. After all, business is mostly driven by financial outcomes that come side by side with potential improvements for users and customers. This is why startups with no economic model and specific purpose definitely aren’t the company’s main focus.

Of course, there are the solutions that grab the attention of the team, which are the new approaches to advertisement, scalable platforms, and interesting traffic solutions that are 100% compatible with financial models and can boost the work of operators, along with the market at large. They are used to strengthen the current teams and lead to specific results for all the parties involved, including the end customers.

PIN-UP GLOBAL: How the Award-Winning Holding Plans to Maintain Its Leading Positions

PIN-UP brand is recognized as one of the leading brands in the market, and though it already has multiple awards, the team puts an emphasis on further achievements. Ilina notes that their holding sets unrealistic goals instead of choosing moderate goals. When you aim to achieve higher heights, you may actually succeed — and PIN-UP proves that by developing outstanding products and seeing problems and challenges. If a market still doesn’t know how to solve the problem, PIN-UP is already working on that and then enters it with a solution, Marina notes. That’s the secret to multiple innovations and actual results. According to her, there’s one point where any business can stop developing, and that’s when the manager is tired and unmotivated. PIN-UP is very unlikely to face such a scenario in the near future.

The Ban of the Industry: The Plan of Action

What happens if the iGaming industry gets a worldwide ban in every country simultaneously? Marina Ilina was asked this quite a controversial straight-to-the-business question and said that even that wouldn’t be the end of PIN-UP.

If we assume that gambling operation is non-existent, holdings like PIN-UP will still have their software solutions, expertise, experience, and practical skills. They can operate complex, high-load systems all over the globe and have top anti-fraud software solutions and great traffic and customer retention tools. Ilina notes that they could choose between e-commerce with different services or fintech, and the latter is even more preferable. Banking is more similar to iGaming than most think, she notes. Of course, there’ll be differences and new challenges, but the holding has good prospects in the neo-baking and exchange-traded or lending segment of the market.

PIN-UP in 3-5 Years

As we noted previously, PIN-UP management doesn’t make long-term forecasts. 2 years is the maximum timeframe for planning. Ilina says that no one knows what the market will be like in over three years and which direction of its growth and development will be the primary one. Still, there’s one thing she’s sure about — there’ll be strong competitors who, just like PIN-UP, will be good at managing finances and focus on diverse, high-quality products and services rather than just one direction.

Dominating Trends in the Industry & Future Surprises from PIN-UP

To sum up, optimization through automation and using software solutions instead of human labor will definitely be the dominating trend in iGaming. This will have a positive impact on the user experience for every customer due to the boosted convenience and accessibility. Blockchain technology will shape the market even within the following year — there’s no doubt about that.

Marina Ilina fully admits that but doesn’t want to share all the secrets and plans of PIN-UP. She only mentions that the holding is focused on anti-fraud solutions using machine learning and AI. The goal is to deliver the most versatile and effective solution in one platform that would work equally well for different businesses, from iGaming to banking and e-commerce.

Read more:
PIN-UP GLOBAL: The Key to Rapid Growth, Challenges & Strategies in iGaming by Marina Ilina

In her debut Budget, Chancellor Rachel Reeves has introduced £40bn in tax hikes, largely focused on increasing employer National Insurance Contributions (NICs) and implementing a temporary repatriation facility for non-domiciled individuals.

According to Nimesh Shah, CEO of Blick Rothenberg, while pre-Budget rumours had suggested sweeping tax changes, the actual announcements were more focused, though still significant in impact.

The primary tax increase is a £25bn rise from NIC changes. Starting April 2025, employer NICs will jump by 1.2 percentage points to 15%, with a lower NIC threshold of £5,000. For businesses, this means an additional cost of £615 per employee, creating substantial expense for SMEs. A business with five employees earning £50,000 each will see their NIC bill increase by over £5,500.

Capital Gains Tax (CGT) also saw adjustments, with rates rising to 18% for basic-rate taxpayers and 24% for higher-rate taxpayers. Although CGT changes were less severe than anticipated, entrepreneurs will feel the impact, as the Business Asset Disposal Relief’s tax-saving potential falls to £60,000 by 2026. The carried interest regime for private equity also faces a hike, effectively increasing CGT on carried interest to 32% from April 2025, and further bringing it within the income tax and NIC scope from 2026.

The Budget introduced a temporary repatriation facility for non-domiciled individuals, allowing them to remit overseas funds at a reduced 12% tax rate for two years. This initiative is expected to generate £12.7bn in revenue. However, the move has left many non-doms considering their options, especially with the looming inheritance tax implications of previously announced reforms.

Family businesses face new challenges with a £1 million cap on Business Property Relief and a 50% discount thereafter. Although these changes take effect in 2026, Shah advises early planning, noting that anti-forestalling measures on lifetime transfers could complicate efforts.

Shah’s overall take on the Budget is mixed; while it avoided the more severe changes that many feared, it leaves room for more tax hikes in the coming Spring Budget. Businesses and investors will need to monitor developments closely as they navigate the evolving fiscal landscape.

Read more:
Budget 2024: £40bn tax hike through NIC and Capital Gains Tax leaves businesses on edge

Estonia has become a beacon for international entrepreneurs and businesses eager to expand within the EU.

When you set up a company in Estonia, you gain access to an unmatched digital infrastructure, a transparent tax system, and the renowned e-Residency program. Estonia’s efficient, tech-forward environment makes it an ideal base for entering the European market.

Why Choose Estonia for Your Business Incorporation?

Estonia’s dynamic and inclusive approach to business stands out across Europe. From small startups to global corporations, companies can benefit from a transparent and tech-driven environment that places minimal restrictions on innovation and growth.

e-Residency Program: An Innovative Solution for Global Entrepreneurs

Estonia is the world’s first country to introduce e-Residency, a digital identity program that lets anyone, from any country, create and manage an Estonian business online. This allows international entrepreneurs and digital nomads to establish an EU-based company without physically relocating. With an e-Residency, business owners can sign documents, access digital banking, and file taxes remotely—features that make Estonia an ideal hub for borderless businesses.

Through the e-Residency program, Estonia is pioneering a new approach to digital business. This innovative system enables you to be an active participant in the EU market from anywhere in the world, supporting international growth and operational flexibility.

Business-Friendly and Growth-Oriented Tax System

Estonia’s corporate tax policy is uniquely structured to support business growth. Unlike most other EU countries, Estonia only taxes corporate profits when they’re distributed as dividends. This means businesses can reinvest profits into growth without facing additional tax burdens, a policy that’s particularly beneficial for startups and high-growth companies.

This tax structure not only saves resources but also simplifies compliance, with clear regulations that reduce bureaucratic red tape. Estonia’s commitment to making business as straightforward as possible allows companies to channel their efforts and funds toward expansion rather than navigating complex tax rules.

Direct Access to the European Single Market

Establishing a company in Estonia provides immediate access to the EU single market, allowing your business to operate seamlessly across all EU member states. With Estonia’s efficient digital infrastructure and commitment to regulatory transparency, compliance with EU standards is simplified. By choosing Estonia, you position your business to take advantage of unrestricted trade, reliable consumer protection standards, and a stable economic environment.

Estonia’s adherence to high digital standards also minimizes operational obstacles, making cross-border transactions and partnerships within the EU simple and efficient. This ease of market entry, combined with Estonia’s digital-first approach, offers entrepreneurs a competitive edge in Europe.

Fast and Affordable Incorporation Process

Incorporating a business in Estonia is both quick and cost-effective. The application process, managed through a digital platform, typically takes just a few days to complete. For those with an e-Residency, the entire setup can be done online, eliminating the need for lengthy paperwork or in-person visits. Even if you aren’t an e-Resident, local agents and consultants can assist you in navigating the process with ease.

In Estonia, the government’s emphasis on digital efficiency means that setting up a company doesn’t drain resources or time. This allows you to dedicate more of your budget to core business activities rather than administrative expenses. For many, this streamlined process is one of the primary advantages of choosing Estonia as their business base in the EU.

World-Leading Digital Infrastructure

Estonia’s reputation as a digital leader extends beyond its e-Residency program. With services like secure digital identification, online public services, and efficient communication between state authorities, Estonia has built an environment where businesses can operate at peak efficiency. In fact, Estonia’s entire government infrastructure is digital, making it easier for business owners to manage compliance, taxation, and regulatory needs online.

Additionally, Estonia’s investment in cybersecurity ensures that businesses can operate in a secure digital environment. This level of security and accessibility attracts international businesses that rely on digital processes and prioritize data protection.

What’s the Process to Set Up a Company in Estonia?

Apply for e-Residency (Optional but Recommended): This digital identity allows you to register and manage your Estonian company online. Once approved, you’ll receive a digital ID card, which grants access to Estonia’s digital services.
Register Your Company Online: Using Estonia’s e-Business Register, you can complete the process of company registration in just a few hours. You’ll need to provide basic company details, appoint a local contact person, and pay a registration fee.
Open a Bank Account (Digital or Physical): Depending on your business needs, you can open an account with a digital bank or a traditional bank that operates in Estonia.
Start Operating and Access EU Markets: With your company incorporated, you can operate across the EU, enjoying benefits like simplified tax compliance and trade access.

About Eesti Firma

At Eesti Firma, we specialize in guiding entrepreneurs and businesses through the process of establishing a company in Estonia. With years of experience, our team provides comprehensive support at every stage, from choosing the right business structure to navigating Estonia’s digital requirements and tax benefits. Our goal is to make setting up and managing your Estonian business as smooth and efficient as possible, allowing you to focus on growth and expansion in the European Union. Trust Eesti Firma to help you unlock new opportunities in one of Europe’s most innovative business hubs.

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Set up a company in Estonia: Europe’s Most Innovative Hub for Business Expansion

Premier League Wolves are keeping faith with manager Gary O’Neill despite his team’s winless start to the season and the fact they sit at the bottom of the table with just one point.

The club have parted ways with their set piece coach, Jack Wilson, after the club conceded set pieces in five of their seven games.

Currently, winless Wolves look a nailed-on certainty to lose their next couple of fixtures, taking on Manchester City and Brighton. Currently, Wolves are around 8/1 to beat last season’s champions according to most betting sites in the UK, while Gary O’Neill is the second favourite to be the next manager to be sacked at 7/2.

Having finished the 2023/2024 season in 14th place, Wolves fans and staff had hoped to push on this season. Working on a somewhat limited budget, they brought in just shy of £60 million of new players during the summer transfer window but saw highly rated winger Pedro Neto depart for Chelsea with Maximilian Kilman also heading out of the door, leaving for West Ham. In total, Wolves saw a net transfer income of more than £30 million.

And, after seven games, some observers might be questioning the club’s transfer policy as they sit at the bottom of the table with a single point which they picked up in a 1-1 draw against Nottingham Forest. They have had a very difficult run of games to start the campaign, however, taking on Arsenal, Chelsea, Newcastle, and Liverpool, as well as high-flying neighbours Aston Villa.

Wolves’ most recent match was against mid-table Brentford. Following the 5-3 loss, manager Gary O’Neill described the match as the most disappointing of his tenure – a sentiment shared by the Wolves board. Sporting director Matt Hobbs said, following the match, everybody at the club expects more.

However, in a show of faith in O’Neill, who signed a new contract in the summer following his successful first campaign, Hobbs went on to say that the club is looking for ways to support the manager. He also recognised that the club have played most of the big teams in the division and haven’t been completely outclassed in any games yet.

Things won’t get any easier in the team’s next match, when they take on champions Manchester City, who currently sit in 2nd place, and then 6th placed Brighton. Following that, they do have an easier run of matches playing fellow strugglers Crystal Palace and Southampton.

While the club are keeping faith in the manager, they have parted ways with set-piece coach Jack Wilson. Wilson was appointed in the summer, having previously worked with Manchester City. He was the club’s first dedicated set piece coach, but having conceded the most goals from set pieces in the league, and having only scored one in return, the manager and club collectively decided to let Wilson go.

Read more:
Keep Faith In Gary O’Neill Despite Winless Start

The UK’s latest Budget has cast uncertainty over its reputation as a hub for entrepreneurship, with business leaders warning of a potential exodus of talent and investment.

Shalini Khemka CBE, CEO of the entrepreneurial community E2E, expressed disappointment in the Budget’s new tax measures, which she believes will deter entrepreneurs and business owners. “Today’s budget shows that the current government is not the government for business,” she said. “The changes announced by Chancellor Rachel Reeves will target the very people who help grow the economy.”

The Budget includes several tax adjustments that impact both small and large businesses, including a rise in Capital Gains Tax, an increase in employers’ National Insurance contributions to 15%, and a cap on Business Property Relief at £1 million with a 50% discount on the remainder. Business Asset Disposal Relief (previously Entrepreneurs’ Relief) and inheritance tax (IHT) on AIM-listed shares will also be subject to new limitations. AIM shares, now subject to a 20% IHT rate, will see a cut from the prior 40% relief, a move Khemka warns could reduce liquidity and investment options for SMEs.

In addition, the abolishment of Non-Dom status, an increase in stamp duty, and the introduction of VAT on private schools add further barriers for international entrepreneurs considering the UK as a base for their ventures. Khemka argues these measures create an environment unfavourable to overseas talent: “This sends a clear message that we are not welcoming to entrepreneurs from overseas who wish to start their businesses in the UK,” she said.

The response from the business community has been swift. According to Khemka, many entrepreneurs in her network now see relocating abroad as an increasingly attractive option. “For many, this budget has solidified any confusion around whether to move abroad, and they will seek to relocate as quickly as possible,” she noted, predicting a potential downturn in growth as the UK becomes less competitive.

With rising taxes and reduced reliefs, the UK’s reputation as a pro-business destination faces significant challenges. Experts warn that without a more supportive approach, the UK may struggle to retain the talent and innovation essential for economic growth.

Read more:
Entrepreneurs set to leave the UK as it is no longer the country for business

Chancellor Rachel Reeves has introduced a record-breaking £40bn tax rise in her first Budget, which the Office for Budget Responsibility (OBR) warns could stifle long-term economic growth.

According to the OBR, Britain’s economy will expand by just over 1% this year, peaking at 2% in 2025, but remaining below its potential growth rate of 1.66% thereafter.

The biggest change comes from a 1.2 percentage point hike in National Insurance contributions (NICs) for employers, bringing the rate to 15% from April and expected to raise £25bn. This move has been met with concern from business leaders and analysts who fear it will add to the financial strain on companies.

“This is a tough Budget for business,” said Rain Newton-Smith, CBI Chief Executive. “While the Corporation Tax Roadmap offers stability, the NICs increase and other cost hikes will hurt businesses, making it more costly to hire or raise wages.” Newton-Smith emphasised that private sector investment is essential to achieving the UK’s growth targets and urged the government to work closely with businesses to unlock potential investments, particularly in infrastructure and green energy.

The Budget also includes an increase in Capital Gains Tax (CGT), with the lower rate rising from 10% to 18% and the higher rate from 20% to 24%, while rates on residential property remain the same. Muj Choudhury, CEO of RocketPhone, expressed concern over the CGT changes, particularly their impact on Britain’s tech and AI sectors, which depend on high-risk capital for early-stage growth. “This reform sends the wrong message as we try to establish the UK as a global AI hub. Increasing CGT creates barriers for tech entrepreneurs, who are already hesitant given rising taxes and costs,” he said.

For small businesses, the rise in NICs is likely to present significant challenges. Todd Davison, MD of Purbeck Personal Guarantee Insurance, warned that the tax hike could be “a fatal blow” for small enterprises still recovering from the pandemic. “This increase will make it more costly to run a business and could limit hiring, raise prices, or even force some owners to close down,” he added, noting that businesses in labour-intensive sectors like hospitality, retail, and leisure may struggle most.

Meanwhile, the Budget includes positive news for small businesses, with the Employment Allowance increase easing the NIC burden for companies with smaller payrolls. Michelle Ovens CBE, founder of Small Business Britain, noted that while small businesses may feel the impact of the NIC and minimum wage hikes, many will benefit from business rates relief and reduced tax pressure on high street companies. “There’s reason for optimism,” she said. “The government is clearly recognising the contribution of small, local businesses.”

The freeze on inheritance tax thresholds has also been extended until 2030, drawing mixed reactions. Ms Reeves defended the tax hikes, claiming they were necessary to address “black holes” in public finances and to fund long-overdue compensation for victims of the Post Office Horizon and infected blood scandals.

While Reeves’s Budget aims to shore up public finances and fund critical sectors like healthcare—with an extra £22.6bn for the NHS—many business leaders worry the measures could hamper the UK’s growth ambitions. Stephen Phipson, Chief Executive of Make UK, acknowledged that while the Budget presents challenges, especially for SMEs, the inclusion of an Industrial Strategy and continued support for programmes like Made Smarter offers a clear path for growth in manufacturing.

As businesses across the UK absorb the effects of the Budget, the long-term impact on investment, hiring, and overall economic stability remains uncertain. The £40bn tax increase underscores the government’s commitment to balancing the books, but critics argue it risks undermining Britain’s competitive edge and discouraging the private sector investment needed to drive sustained growth.

Read more:
Budget 2024: Record £40bn tax hike set to slow UK economic growth, warns OBR

A Russian court has handed Google an astronomical $20 decillion fine—an amount that vastly exceeds the total money supply in the world—after the tech giant blocked accounts belonging to several pro-Kremlin TV channels on YouTube.

The case, which has captured global attention due to the unprecedented figure involved, reflects growing tensions between Google and Russia following international sanctions related to the Ukraine conflict.

The lawsuit was brought forward by 17 Russian broadcasters, including Russia 1 and the platform of Russia Today presenter Margarita Simonyan, a vocal supporter of President Putin. Google’s YouTube removed these accounts under sanctions, prompting Moscow judges to impose a punitive fine described by the judge as “a case in which there are many, many zeros,” according to Russian news outlet RBC.

Initially, the fine was set at 100,000 rubles daily, doubling every 24 hours since 2020. The resulting penalty has now swelled to $20,000,000,000,000,000,000,000,000,000,000,000—far surpassing Google’s total revenue of $88.2 billion and market valuation of $2 trillion, and dwarfing the global economy’s estimated worth of around $100 trillion, according to the World Bank.

Despite the mounting pressure, Google has shown little sign of compliance, noting in its latest earnings report that “these ongoing legal matters” are unlikely to impact its operations materially. Google wound down its Russian division in 2022, declaring bankruptcy for its subsidiary Google LLC in Russia, although it continues to provide services like its search engine and YouTube.

In contrast, other platforms, such as Twitter and Facebook, have been outright banned by Russian authorities, although Google’s services remain accessible. YouTube’s removal of pro-Moscow content has particularly irked the Kremlin, especially bans on propaganda platforms like Tsargrad TV, owned by oligarch Konstantin Malofeev.

The colossal sum, which stands as one of the largest penalties in legal history, may be more symbolic than practical given Google’s limited assets in Russia. Yet, as Russia’s legal strategy continues to escalate, the tech giant appears unphased, its team noting that the situation is unlikely to reach a fine as high as a “googol”—a figure equal to 10 followed by 100 zeros.

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Russia fines Google $20 Decillion – more than all the money in the world – in escalating sanctions dispute

Rachel Reeves announces the first Labour budget in 14 years, and the first to be delivered by a female Chancellor.

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Britain voted for change, she says. The government has a mandate to restore stability and start a decade of renewal, she says.

Reeves says Labour must ‘invest, invest, invest’ to promote growth

The only way to deliver growth is to “invest, invest, invest,” she says.

She says Labour has had to renew Britain before, and it will again.

Reeves says she is setting aside £11.8bn to compensate infected blood victim scandals, and £1.8bn for Post Office scandal victims

Reeves says people can see the problems facing public services. She says:

The country has inherited not just broken public finances, but broken public services too.

The British people can see and they can feel that in their everyday lives: NHS waiting lists at record levels, children in portacabins as school roofs crumble, trains that do not arrive, rivers filled with polluted waste, prisons overflowing, crimes which are not investigated and criminals who are not punished.

She says the last government did not provide funds for services, and for things like compensation scheme (for Post Office operators, and for victims of the blood scandal).

She says Rishi Sunak apologised to the victims of the blood scandal. But he did not budget for compensation, she says.

She says she is setting aside £11.8bn to compensate the blood scandal victims, and £1.8bn for the victims of the Post Office scandal.
Reeves says she is maintaining the Bank of England’s inflation target of 2%.

She thanks Bank of England staff for their help.

And she hanks her predecessors for their advice. Kwasi Kwarteng said in a Mail on Sunday article his mini-budget was not perfect. She agrees, she says.

Inflation is now forecast to be 2.5% this year, and 2.6% next year.

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Rachel Reeves first Labour Budget in 14 years in detail

Rachel Reeves is expected to make climate change a core priority for the Bank of England in her first Budget as Chancellor, calling on Governor Andrew Bailey to give environmental concerns the same weight as economic growth.

This shift, conveyed in a letter to Bailey on Wednesday, will reintroduce climate change as a focus for the Bank’s Financial Policy Committee, reversing former Chancellor Jeremy Hunt’s 2023 decision to downgrade its importance.

Ms Reeves’s move aims to align the Bank of England’s priorities with Labour’s commitment to make Britain a “clean energy superpower,” a manifesto promise to accelerate the country’s transition to net zero. Under this new mandate, the Bank will balance climate action with other key objectives, such as supporting economic growth and promoting home ownership.

The decision, however, has sparked debate, with critics questioning whether the Bank should focus on climate-related risks amid pressing inflationary pressures. Former Bank of England governor Lord Mervyn King has argued that climate change responsibilities distract from the Bank’s core mandate to maintain price stability. “The Bank of England can do nothing about climate change,” he said, stressing that its primary focus should remain on controlling interest rates and inflation.

Bailey himself has acknowledged the need to address climate risks but cautioned that climate action is outside the Bank’s main remit. Similar concerns were echoed by the House of Lords Economic Affairs Committee, which warned last year that an increased focus on net zero could hamper the Bank’s inflation-fighting capabilities. The committee urged the Treasury to “prune” the Bank’s mandate, highlighting a risk of politicisation.

Labour has countered that addressing climate risk is critical to safeguarding long-term economic stability, pointing to financial system vulnerabilities posed by environmental factors. Ms Reeves has enlisted former Bank of England governor Mark Carney, who during his tenure brought climate risks to the forefront of the Bank’s agenda, to advise on attracting private investment and establishing a national wealth fund.

The Bank’s climate focus was notably scaled back under Mr Hunt, who last year replaced “climate change and energy security” with “productive finance” and “growth and competitiveness” in the Financial Policy Committee’s remit. This change led the Bank to reduce its climate initiatives and reallocate resources, according to Bailey. The shift marked a stark contrast from Rishi Sunak’s tenure as Chancellor, during which he underscored climate change 13 times in his letter to the Bank.

With Ms Reeves’s proposed changes, the Bank of England may need to navigate an expanded mandate, which critics argue could dilute its effectiveness in managing inflation and monetary policy. The Treasury and the Bank of England have both declined to comment, but analysts suggest that the Chancellor’s climate focus is likely to influence policy across the broader financial sector.

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Reeves pushes Bank of England to prioritise climate change alongside economic growth