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Recent Editions
Risk Channel
North America
President Donald Trump has abruptly ended U.S.-Canada trade negotiations, citing a Canadian ad using Ronald Reagan’s voice to criticize tariffs. Trump labeled the ad “FAKE” and claimed it interferes with ongoing court decisions on tariffs. Sponsored by Ontario’s government, the $53m campaign uses Reagan’s 1987 radio address to highlight the harms of protectionism. The Reagan Foundation said it wasn’t asked for permission and is reviewing legal options. The announcement intensifies an already tense trade relationship, which includes Trump’s 50% tariffs on Canadian steel and aluminum and pending reviews of the U.S.-Mexico-Canada Agreement.
Full Issue
Risk Channel
UK/Europe
Partners at London's prestigious law firms may face a £250m tax increase under proposed plans by Rachel Reeves. A new 15% tax on profits from limited liability partnerships (LLPs) could raise their total tax bill from £1.78bn to £2.04bn. Colin Passmore, chairman of the City of London Law Society, warned that this change could harm London's competitiveness as a legal hub. David McNeill, director of public affairs at The Law Society, stated that the tax could significantly impact the legal profession, potentially leading to job losses and "legal deserts" in rural areas. Analysis by UHY Hacker Young shows that applying a 15% employer's NICs rate would create an additional tax liability of around £46,000 per partner each year.
Full Issue