Julian Harris

happy to join the campaign / protest / riot

UK wealth tax: high risk and anti-growth Claims of £24bn from a UK wealth tax ignore delays, capital flight (£200–£500bn) risks to growth and employment. Data, country evidence & better reforms.

paper from @danneidle on the limitations of wealth taxes, which probably won't be popular on here but anyway
taxpolicy.org.uk/2025/07/22/u... (NB 'wealth taxes aren't a magic wand' does not='no wealth taxes'; more 'don't pretend that that you won't also need mid to high earner taxes')

Why Rachel Reeves Should Resist a UK Wealth Tax It’s impractical, it’s self-defeating, and it would make Britain’s already narrow tax base even more fragile.

A neat reminder of why Labour MPs should stop demanding a wealth tax - in today's Money Distilled newsletter from @johnstepek.bsky.social...

www.bloomberg.com/news/newslet...

UK Inheritance Tax Surge on Rich Was Mistake, Policy Author Says One of the architects of the UK Labour government’s flagship crackdown on the wealthy said it was a “mistake” to expose non-doms to an immediate 40% inheritance tax on their overseas assets.

ICYMI - the brainchild of Labour's wealth taxes says the government has bungled the way it's imposed IHT on non-doms.

Nice exclusive by @philaldrick.bsky.social

www.bloomberg.com/news/article...

Starmer Says No Obstacles Left in Finalizing US-UK Trade Deal UK Prime Minister Keir Starmer said there are no “hiccups or obstacles” remaining in the way of finalizing a trade deal with the US and indicated that an agreement would likely come soon.

Starmer also said there were no "hiccups or obstacles" left in the way of his trade deal with Trump.

"I’m hoping that we will complete it pretty soon"

On Wednesday it'll be a fortnight since he said it would be finalised within a couple of weeks.

www.bloomberg.com/news/article...

Starmer Says UK Has ‘Grave Concerns’ on Iranian Nuclear Program Prime Minister Keir Starmer said the UK has “grave concerns” about Iran’s nuclear program and backed Israel’s right to self-defense, while calling for de-escalation in a conflict that risks engulfing ...

Great to work on today's exclusive Keir Starmer interview, with our political titans Mishal Husain and @alexwickham.bsky.social.

The PM says Britain has “grave concerns” about Iran’s nuclear programme.

“We absolutely recognise Israel’s right to self-defence”

www.bloomberg.com/news/article...

hence Tottenham are not a London club

Latest "wanna feel old" moment...

Hearing the shadow foreign secretary refer to @kateemccann.bsky.social‬ as "a political veteran" on Times Radio.

I was obsessed with Japan's dinky cars when I was there. The orange one was actually a teeny pick up -- adorable AND practical.

@chrismaxbryant.bsky.social is right: SUVs need to die. All hail the kei car.

via @opinion.bloomberg.com

www.bloomberg.com/opinion/arti...

UK Visa Scams Squeeze Millions From Would-Be Care Workers Recent changes to immigration policy won’t do anything for people who’ve been exploited while seeking jobs in the UK. But they may worsen the care-worker shortage.

Scammers are exploiting migrants by charging thousands of pounds for fake visas.

Our top feature today, great reporting by @lucygjwhite.bsky.social.

www.bloomberg.com/news/feature...

Yep, I think people will hang on to their petrol cars for a long while, and the government won't go big on Chinese EVs (ie. won't be allowed to)

not sure about your premise (vast majority of cars in London being EV by 2030 -- d'you really think so? Very happy to be convinced)

Britain’s Green Taxes Fall to the Lowest Level on Record The UK government is collecting less money from green taxes than at any point since records began 28 years ago, according to the Office for National Statistics.

Contrary to what many people believe, green taxes in Britain have fallen to the lowest level on record.

Spotted in the data by @philaldrick.bsky.social ...

www.bloomberg.com/news/article...

BOE Should Consider Smaller QE During Future Shocks, Greene Says Bank of England rate-setter Megan Greene said quantitative easing could be used in a smaller and more targeted way in the future amid criticism of its vast bond buying during the pandemic.

Was the Bank of England wrong to do so much QE during Covid? Megan Greene insists not, but says central banks should maybe use bond purchases "more sparingly" in the future.

Latest story from @tomreesjournalist.bsky.social's exclusive interview with Greene today: www.bloomberg.com/news/article...

FTSE 100 Live: UK Stocks to Jump as Trump Tariff Pause Sparks Huge Rally FTSE 100 Live: UK Stocks to Jump as Trump Tariff Pause Sparks Huge Rally

Blink and you'll miss it: this time yesterday, markets were pondering a whopping half-percentage-point cut to interest rates by the Bank of England next month. This morning, traders aren't even sure if we'll get a quarter-point cut.

S&P 500 is down more than 13% since Trump's inauguration.

For the same period after Biden's inauguration, it rose 4.4% — and that was during Covid.

Ambrose is right (as usual)

Trump’s tariff equation is nonsense, says @johnauthers.bsky.social. Here’s why 🎥

My fault it was late today. I disappeared to the bunker where we go for sensitive embargoes.

On deadline.

And failed to tell newsletter editor @helenchandlerwilde.bsky.social

Julian Harris: Trump Tariffs Put Brexit Back in Spotlight Business Secretary Jonathan Reynolds is an affable chap. Remember that cliché used to describe belligerent footballers over the decades — “he could start a fight in an empty room”? Well, Reynolds is t...

Trump's trade war has many unintended consequences -- one of which is that we're starting to argue about Brexit again (yay...)

Today's Readout newsletter. Read and subscribe...
www.bloomberg.com/news/newslet...

Nearly one in four (23%) Reform voters think Trump's tariffs will have no effect on the UK.

Via YouGov polling, just out.

Tesla Sales Slump to Lowest Since 2022 Amid Anti-Musk Backlash Tesla Inc.’s vehicle sales fell 13% in the first quarter, dragged down by the changeover of its most important model and international backlash against Elon Musk.

Tesla sales drop 13%, worst than expected by analysts. Shares down nearly 6% in pre-market trading.

On @bloomberg.com now...

www.bloomberg.com/news/article...

"The list of people Sarkar despises is exhaustingly long. She’s still playing a team sport, and those not on her team get doused in bile."

Stinging mini-review in the FT of Ash Sarkar's new book. "Moments of contrition at ignoring the voters are overwhelmed by philosophical contortions: this prominent leftwing commentator rails against divisive identity politics, except the bits she espouses."

I've written this evening's Readout newsletter about Rachel Reeves' headroom -- and how it could be well and truly wiped out by this time next week, due to higher gilt yields and Trump's trade war.

Free to read here (and sign up while you're at it):
www.bloomberg.com/news/newslet...

Britain’s Poorest Generation Is More Cheerful Than Its Richest Generation Z faces stagnant living standards, sky-high housing costs and a flatlining economy in Britain today, and yet they’re less gloomy about their life prospects than the rest of the population.

- Exorbitant housing costs
- Stagnant living standards
- Tuition fees

So why is Gen Z the most economically upbeat cohort in the UK? And why are 'Boomers so miserable?

By @tomreesjournalist.bsky.social on @bloomberg.com

www.bloomberg.com/news/article...

They are awful, physically pains me when I have to let them through here

Ratcliffe’s Ineos Recalls Over 7,000 SUVs After Doors Fly Open Billionaire Jim Ratcliffe suffered a fresh setback at his money-losing auto business, recalling more than 7,000 vehicles in the US after customers reported that doors on their SUVs flew open while dri...

You're only supposed to blow the bloody doors off, etc etc.

Great scoop by my @bloomberg.com colleague Jamie Nimmo.

www.bloomberg.com/news/article...

Billionaires at Trump’s Swearing-In Have Since Lost $209 Billion As Donald Trump took the oath of office on Jan. 20, he was flanked by some of the world’s wealthiest people. The billionaires present that day — including Elon Musk, Jeff Bezos and Mark Zuckerberg — h...

ICYMI last night - Bloomberg's brilliant story on the $209 billion wipeout since the inauguration (70% of which is Musk) www.bloomberg.com/news/article...