Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
UK chancellor Rachel Reeves is ready to water down her planned Budget raid on wealthy foreigners amid Treasury fears that some of the measures may fail to raise any money, according to people familiar with the matter.
Reeves had hoped to raise £1bn a year by toughening a plan by former Conservative chancellor Jeremy Hunt to end the tax perk for rich UK residents whose permanent home is overseas.
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But government officials said on Thursday that Reeves would change tack if the numbers do not add up. The change of tack comes amid warnings that thousands of wealthy UK residents are looking to leave the country.
“We are looking at the details of our proposals. We will be pragmatic, not ideological,” said one official. “We won’t press on regardless, but we are not going to abandon this completely.”
Treasury officials fear that parts of the new crackdown may fail to bring in extra revenues, as former beneficiaries of the regime look to more favourable tax jurisdictions.
Labour had planned to scrap concessions planned by the previous Tory government on so-called “non-doms” — UK tax residents whose “domicile” is abroad.
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These include protection from inheritance tax for trusts and a 50 per cent tax discount for non-doms bringing in foreign income in 2025-26.
Reeves is said by colleagues to remain determined to end non-dom status, a policy originally advocated by Labour that is intended to raise £2.7bn by 2028.
Francis Fukuyama did say, as Edward Luce points out, that liberal democracy might end up as the caretaker of the museum of human history (Books, September 21). But his real prediction was that “the end of history” might be the beginning of something else: “Is not the man who is completely satisfied by nothing more than universal and equal recognition something less than a full human being, indeed, an object of contempt, a ‘last man’ with neither striving nor aspiration? . . . And might not the fear of becoming contemptible ‘last men’ lead men to assert themselves in new and unforeseen ways, even to the point of becoming once again bestial ‘first men’ engaged in bloody prestige battles, this time with modern weapons?”.
Fukuyama, perhaps more frequently criticised than read today, displayed imaginative prescience of the highest order already in 1992.
A MAJOR supermarket is set to make a change to 53 of its stores ahead of a nationwide expansion next month.
Iceland has partnered with the food delivery service Deliveroo as part of the latest expansion of its rapid delivery offer.
And the frozen food retailer is now offering the service at 53 of its UK stores.
Under the plan, the supermarket chain will expand to its 800 Iceland and Food Warehouse stores by the end of October.
More than 3,000 Iceland products are understood to be available to buy through Deliveroo.
You can nab Iceland’s full range of essentials, frozen and fresh groceries from the click of a button.
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Iceland says shoppers will be able to receive their orders within 25 minutes under the new partnership.
Products from the retailer’s brand connections such as Greggs and Myprotein are also available to order.
Amazon Prime customers in Manchester and London can also have Iceland food delivered through its third-party deal with Amazon.
Iceland and Food Warehouses already offer deliveries through Just Eat and Uber Eats and also offer a next day and same day delivery service itself.
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Justin Addison, Iceland Foods international and partnerships director said: “We’re dedicated to making sure our customers can enjoy our innovative, value-driven range of products, no matter where they are.
“This past year has been a real moment of growth for Iceland and The Food Warehouse, and we’re thrilled to add Deliveroo to our list of partners.
“More customers across the UK will now be able to easily access their favourite Iceland products from the comfort of their own homes.”
Four ways to save money on your weekly shop in Iceland
Suzy McClintock, Deliveroo VP of new verticals added: “We’re delighted to announce our partnership with Iceland, bringing thousands of fantastic products to customers across the UK in as little as 25 minutes.
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“As demand for convenient grocery delivery grows, this partnership means even more households can access their Iceland favourites quickly and easily via our app, including thousands of great value products.”
It comes as Iceland revealed its Christmas 2024 range and it includes a pigs in blankets Yorkshire pudding.
The big day is still a while away, but it’s always good to plan ahead for the merry season.
Luckily, Iceland has unveiled its Christmas menu which will be available in stores and online from November 12.
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The items will also be available to buy at Iceland’s The Food Warehouse.
Iceland‘s menu this year offers customers everything they’ll need for Christmas lunch or dinner, but there are some quirky items included as well in case you’re after something a bit different.
Shoppers will be able to feast on mini fish, chip and ketchup sarnies, prawn tacos and an unbelievable XXL pigs in blankets Yorkshire pudding.
The supermarket is also launching battered lobster tails, mini garlic and herb kievs and even some exclusive brand items like Harry Ramsden’s battered mini sausages.
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Also returning are familiar favourites such as the turkey crown, mince pies, Christmas pudding and of course all the trimmings like roast potatoes and veg.
Those who want to feast on the exclusive brand’s range like Galaxy, TGI Fridays and Harry Ramsden’s can do so with the mix-and-match deals like three items for £10.
Iceland’s head of development David Lennox said: “We’ve focused on perfecting the classics and making them the best and most delicious yet, as well as offering our customers a range of innovative and affordable new Christmas products which are sure to delight everyone at the dinner table.
“Iceland has some extra special products on offer this festive season.”
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How to save money on your food shop
Consumer reporter Sam Walker reveals how you can save hundreds of pounds a year:
Odd boxes – plenty of retailers offer slightly misshapen fruit and veg or surplus food at a discounted price.
Lidl sells five kilos of fruit and veg for just £1.50 through its Waste Not scheme while Aldi shoppers can get Too Good to Go bags which contain £10 worth of all kinds of products for £3.30.
Sainsbury’s also sells £2 “Taste Me, Don’t Waste Me” fruit and veg boxes to help shoppers reduced food waste and save cash.
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Food waste apps – food waste apps work by helping shops, cafes, restaurants and other businesses shift stock that is due to go out of date and passing it on to members of the public.
Some of the most notable ones include Too Good to Go and Olio.
Too Good to Go’s app is free to sign up to and is used by millions of people across the UK, letting users buy food at a discount.
Olio works similarly, except users can collect both food and other household items for free from neighbours and businesses.
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Yellow sticker bargains – yellow sticker bargains, sometimes orange and red in certain supermarkets, are a great way of getting food on the cheap.
Super cheap bargains – sign up to bargain hunter Facebook groups like Extreme Couponing and Bargains UK where shoppers regularly post hauls they’ve found on the cheap, including food finds.
“Downshift” – you will almost always save money going for a supermarket’s own-brand economy lines rather than premium brands.
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The move to lower-tier ranges, also known as “downshifting” and hailed by consumer expert Martin Lewis, could save you hundreds of pounds a year on your food shop.
TURKEY’S third biggest city, Izmir, sees temperatures hovering around 25C well into autumn.
Combining culture and coastline, it is the perfect place to get your fix of sunshine.
Top that off with fabulous food and you’ve got an epic city break.
WHY SHOULD I VISIT?
OFTEN overlooked in favour of the capital, Istanbul, or other coastal towns such as Bodrum, Marmaris or Kusadasi, Izmir is something of a hidden gem.
It’s the gateway to the pretty Cesme peninsula, which juts out into the Aegean and is dotted with beautiful beaches (try Tekke, a stretch popular with families, near a string of hotels and apartments, or Alaçatı Körfezi, a shallow, protected bay which offers jet skis, banana boats, and windsurfing).
And if you love food, you are in luck. Fish and seafood restaurants line the waterfront, known as the Kordon, while you can taste a variety of snacks in the city’s bustling Kemeralti bazaar.
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Most sights are within easy distance from each other, but there’s an efficient public transport system, including bus and underground.
The Bilet 35 ticket can be bought for two, three, five or ten journeys, starting from just nine lira (20p).
STREETS MADE FOR WALKING?
IZMIR’S centre has several must-sees, all within walking distance of each other.
Start by strolling the picturesque Kordon, where you will see ferries regularly crossing the bay, and pass by Konak Pier, which was designed by French architect Gustave Eiffel. Here you will find several retail stores, as well as a handful of bars and restaurants.
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Beyond this is Konak Square, known for the distinctive marble and stone Clock Tower in its centre which dates back to 1901.
From here you can lose yourself in the maze of streets that make up the Kemeralti Bazaar.
Stalls sell everything from clothing to fruit and vegetables, and you will find plenty of souvenirs to take home, from glass tea sets to baklava and lokum (Turkish delight).
Don’t miss a swift ride up 56m to the top of the city’s “Asansör” — the word means elevator, and this one, which was first built in 1907, used to be powered by steam, like the one in Lisbon. You will get a fantastic view of the city from the top (free).
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ANYTHING FOR BUCKET LIST?
IT’S not in Izmir, but while you’re there, a trip to the ancient site of Ephesus is a must (£33pp, muze.gov.tr).
Less than 90 minutes’ drive away, the old city dates back to 10,000BC, and at various points, was ruled by the Greeks, the Romans, and the Ottomans.
Today you can still see what’s left of its inhabitants’ elaborate houses complete with mosaic floors, temples to gods and goddesses, and even a set of open-air, marble-topped public loos.
Pose for pictures next to the impressive 56ft-high remains of the Library of Celsus. Measuring 2,000 sq ft inside, it was one of the largest libraries in the Greco-Roman world.
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You will also want to snap some of the dozens of cats who consider this site their home.
WHERE SHOULD I EAT?
IF you are just looking for a snack, Kemeralti Bazaar has simple cafes which specialise in cheap and tasty fish sandwiches — a local favourite.
And look out for those selling kumru, a hearty, local sausage, cheese and pepper roll.
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You will also find street carts offering midye dolma, cooked mussels stuffed with rice and herbs, and served cold.
For more traditional Turkish food, try affordable Konyali Alsancak for kebabs and lahmacun (Turkish pizza made with mincemeat).
Or for a more romantic setting, Adabeyi on Konak Pier offers the chance to dine on anything from calamari to grilled sea bass as you watch the sun set.
I FANCY A DRINK
FOR a tipple with a stunning outlook, head to the Skyfire bar and restaurant on the eighth floor of the Renaissance hotel, which offers a panoramic view across the Aegean.
WHERE SHOULD I STAY?
THE Swissotel Buyuk Efes Izmir is a smart, contemporary hotel close to the waterfront, featuring cool artwork and sculptures dotted around the grounds.
Or the nearby cosy Renaissance Izmir has rooms decorated with vintage, black and white photos of the city.
GO: Izmir
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GETTING THERE: Jet2 flies from Stansted to Izmir from £68 one way. See jet2.com.
STAYING THERE: Swissotel Buyuk Efes Izmir has double rooms from £120.
See swissotelbuyukefesizmir.com. The Renaissance Izmir has double rooms from £102 with breakfast. See marriott.com.
OUT & ABOUT: A three-hour walking tour of Izmir costs from 26€/£22pp. See withlocals.com.
Camilla Cavendish’s article “It’s not you — parenting really is becoming more stressful” (Opinion, FT.com, September 7) left me feeling disheartened. Yes, parenting can be incredibly stressful, all-consuming and downright difficult at times. In the months after childbirth the constant tiredness and disappearance of one’s social life are universal for any new parent.
And yet, as children grow up and become young adults themselves, I would wager that the vast majority of parents would see parenthood as one of, if not the most life-affirming, heartwarming and rewarding periods of their lives. Notwithstanding the setbacks that are almost inevitable along the path towards adulthood, little if anything can give a parent more joy than seeing their child learn, develop and grow up. Parents don’t need books telling them how to be a parent. They need to ensure that their children have time to play with their peers, time with their parents and also time alone.
In the UK, Kirstie Allsopp, a television presenter, found herself in the news recently, having been reported to social services for allowing her teenage son to go inter-railing. Any parents who spent time on social media debating this might care to consider whether that time could have been spent better with their children.
And finally, I dispute the assertion that “modern parenting is performative, and competitive”. Only if you let that be the case.
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Parents should lead by example and turn off the social media to which Cavendish refers a number of times in her article. Who knows — that might even answer the question in her final sentence as to why parents, as distinct from non-parents, now spend less time with their friends.
WITH nearly ten million pensioners losing out on the winter fuel allowance, every penny counts right now.
But there are ways over-60s can save on travel, the cinema, food and other shopping. Here are a few ideas . . .
RIDE THE RAILS: Make sure you have a Senior Railcard. It costs £30 a year or £70 for three years and offers a third off tickets.
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There are occasionally offers that bring down the cost of the railcard.
Or a National Express Senior Coach Card is £15 per year, for a third off tickets.
SILVER SCREEN: Love films? You’ll love them even more with cinema offers.
The Odeon holds a day-time screening for the over-60s, with Silver tickets costing £3.50 if you buy online as a myODEON member. Price includes tea, coffee and biscuits before the film.
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The price rises to £5 for non-members who don’t pre-book.
Check if other cinema chains, and independents, offer similar.
FOOD FOR THOUGHT: With the price of groceries soaring in recent years, any savings are welcome.
Iceland and The Food Warehouse offer ten per cent off for over-60s with a Bonus Card every Tuesday.
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You just need to show proof of age. You can also save ten per cent in Asda cafes on Wednesdays.
Keir Starmer doubles down on winter fuel payment cuts as OAPs face months of misery… saying he’s ‘happy to be unpopular’
SHOPPING PERKS: Other high street stores also offer deals to shoppers aged 60 and over.
The Original Factory Shop has a ten-per-cent discount for cust-omers on the first Wednesday of every month, which falls next week.
To claim, you need to be a member of the TOFS club and show age ID at the till.
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If you have a Boots Advantage Card, sign up for the Over 60s Rewards to get eight points for every £1 you spend on the chemist chain’s own-brand products, as well as other exclusive offers.
At Specsavers, you can get 20 per cent off when you buy glasses from the store’s £70-plus range.
All prices correct at time of going to press. Deals and offers subject to availability.
Deal of the day
CHECK out the Lego deals at Asda including this red double-decker sightseeing bus set, now reduced from £25 to £15.
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SAVE: £10
Cheap treat
FILL your cup with Costa Gingerbread Latte, down from £2.30 to £1.75 for a pack of six sachets for Tesco Clubcard holders.
SAVE: 55p
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What’s new
SEARCH the Too Good To Go app to buy a Surprise Bag of cut-price food.
Then keep the bag and register at contest.tgtg.to/ win-groceries before midnight on Monday for the chance to win a year’s worth of Aldi groceries.
Top swap
KEEP your gems in the Hexagon Glass Brass Jewellery Box, above, £18 from Accessorize, or lift the lid on the Hexagonal Jewellery Box, below, from Primark, £7.
SAVE: £11
Little helper
MENTAL health app Calm has a new back-to-school collection for students, and they can now sign up to the app for £23.99 a year instead of the usual £39.99, saving £16. See cal.mn/backtoschool
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Shop & save
FOR a meaty deal, Aldi has cut the price of a British Pork Crackling Leg Joint, 1.5kg, from £7.94 to £5.24.
SAVE: £2.70
Hot right now
SEND a personalised gift from Moonpig with up to 16.5-per-cent cashback for Topcashback members until October 7.
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PLAY NOW TO WIN £200
JOIN thousands of readers taking part in The Sun Raffle.
Every month we’re giving away £100 to 250 lucky readers – whether you’re saving up or just in need of some extra cash, The Sun could have you covered.
Every Sun Savers code entered equals one Raffle ticket.
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The more codes you enter, the more tickets you’ll earn and the more chance you will have of winning!
Simply sign up to the UK tax myFT Digest — delivered directly to your inbox.
Several experts have said tax is potentially due on many of the freebies Labour politicians have received and called on HM Revenue & Customs to give greater scrutiny to political gifts.
Prime Minister Sir Keir Starmer and some of his most senior colleagues have come under fire in the past few weeks over donations they accepted from Lord Waheed Alli, a Labour peer and former chair of online clothing retailer Asos.
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More recently, Starmer received four tickets to see Taylor Swift worth £4,000 from the Premier League, and £20,000 of accommodation from Alli. This takes the total value of Starmer’s freebies to more than £100,000.
David Whiscombe, an independent tax consultant, said: “For employees or officeholders, there is specific legislation that if you receive any benefit — which is widely defined, so not only gifts or holidays, it’s any sort of benefit — that is given by reason of the employment or for this purpose the holding of an office, then it is taxable.”
He added: “One would hope and assume that the Revenue are alert to the possibility that there might be a tax charge due.”
Andrew Park, partner at Price Bailey, an accountancy firm, also said that items given because of someone’s work activities would normally be taxable by HMRC.
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“As a general principle, if cash or benefits are given to people, in connection with either their employment or self-employment, they’re taxable as earnings. The rules are no different for MPs,” he said.
“To the extent that people receive things like clothing and spectacles to help them perform their work duties the law is clear that they’re still taxable if they can be used for anything other than performance of their work — otherwise, we’d all be filling our ‘everyday wardrobes’ as a tax-free perk.”
Robert Salter, director at Blick Rothenberg, another accountancy firm, also said some of the gifts given to politicians had “been very significant and arguably have job-related elements to them”.
“HMRC argues that the gifts given to media personalities or social influencers, which appear to be very similar in many cases to the gifts received by politicians, are liable to income tax and in some cases also National Insurance contributions,” he said. Salter added it “doesn’t seem equitable” that similar type of gifts seemed to be being scrutinised differently.
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Dan Neidle, founder of Tax Policy Associates, said the tax experts who make up the think-tank had not been able to find “any evidence that an MP has ever been taxed on a gift even if it’s a quid pro quo”.
However, the rules on gifts are complicated, include some exemptions and are very dependent on the facts. Gifts made by a personal friend because of the friendship are not taxable. Sometimes it can be difficult to understand if tax is due without knowing the personal relationship between the recipient and the donor.
Whiscombe said: “Purely looking at the tax, when Lady Starmer gets a free frock from Lord Alli rather than my wife, is that because her husband happened to be PM and I’m not PM? The issue is that there might be lots of reasons, for example she got it because of a personal friendship.”
Meanwhile, there are different tax rules when a business, rather than an individual, makes a gift. In general, expenditure on business entertainment or gifts is not allowable as a deduction against profits.
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Philip Milton, chartered financial planner at Philip J Milton & Company, said: “I think HMRC ought to check into said donations to find out if they have originated from a business and if any tax adjustment has been made in its accounts.
“If as personal owners the donors had used their after-tax income from their business to buy them, then that’s a different matter but businesses can’t simply allocate their goods and services to a politician (or any other) willy-nilly without relevant tax consideration and liability covered.”
The Labour party and Lord Alli have been approached for comment.
HMRC said: “We’re committed to ensuring everyone pays the right tax under the law, regardless of wealth or status.”
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