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City AM live blog updates on latest news and business events in an urban setting with bustling streets and skyscrapers
BBusiness

Income tax U-turn throws Budget into chaos

  • 14 November 2025

Friday 14 November 2025 6:45 am
 |  Updated: 

Friday 14 November 2025 8:40 am

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City AM live blog updates on latest news and business events in an urban setting with bustling streets and skyscrapers The City AM FTSE 100 liveblog with your top market stories.

Good morning from the City AM liveblog team.

The FTSE 100 ended a dim trading session falling over one per cent into the red yesterday after a fleet of miserable corporate news and gloomy corporate updates weighed on the index.

Fresh data revealed the UK economy grew a sluggish 0.1 per cent in the third quarter, falling below the 0.2 per cent estimated by economists.

The City was given positive updates from Rolls-Royce and Aviva, but this wasn’t enough to offset the dull mood as laid bare by top business bosses over the last few days.

Earlier this week we saw Taylor Wimpey shares slump after the homebuilders’ top boss blamed weak market conditions on the uncertainty surrounding the forthcoming Budget.

Meanwhile, the boss of one of Britain’s biggest pub chains took aim at a “lack of clear plan” from the Chancellor as the hospitality sector braces for another round of tax rises at the forthcoming Budget.

The Budget jitters come as speculation mounts that the City’s blue-chip index could net the magic 10,000 mark.

Earlier this week the FTSE 100 inched to a new intraday high of 9,930.09 before giving up some gains and failing to hit that next milestone.

Could it be the Budget uncertainty holding the index back?

Dan Coatsworth, head of markets at AJ Bell, said: “Investor sentiment is still guided by what’s happening on these shores.

“The Budget will be the key test for the market. Anything deemed negative for the economy could weigh on shares in the retail, banking, construction, housebuilding and property sectors.”

Here are a few of our top stories from yesterday:

Read more

FTSE 100 Live: Economy grows 0.1 per cent; Rolls-Royce eyes profit jump

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