BUSINESS CLOSE: FTSE dips; Boris unveils NI and dividend tax hike – This is Money

BUSINESS CLOSE: Boris unveils NI and dividend tax hike; Vistry raises profit forecast again; Ted Baker sales grow 50%; House prices rise to record high; McBride hit by lorry driver shortage



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The FTSE 100 slid deeper into the red as the day progressed, closing down 37 points, or 0.5 per cent, to 7,149, while the FTSE 250 ended the day down 0.6 per cent to 24,097.

Boris Johnson today announced manifesto-busting tax rises to pay for a major overhaul of the nation’s social care system and to boost the NHS.

The Prime Minister will hike National Insurance contributions by 1.25 per cent, leaving basic rate taxpayers approximately £180 a year worse off.

A tax on dividends will also go up by 1.25 per cent in moves which will generate an extra £12billion a year for the Treasury.

Housebuilder Vistry has hiked its full-year profit outlook to about £345million, the second time it has done so less than four months despite rising build costs and supply-chain woes. 

High street fashion chain Ted Baker said sales have improved 50 per cent in the 16 weeks to August 14 as the retailer turned away from heavy promotions and recovered from the dog days of the pandemic. 

The average UK property price hit a record high of £262,954 in August, according to Halifax, making the typical price more than £23,600 higher than when the housing market was starting to reopen in June 2020. 

Housebuilder Vistry has hiked its full-year profit outlook to about £345million

Housebuilder Vistry has hiked its full-year profit outlook to about £345million

 Housebuilder Vistry has hiked its full-year profit outlook to about £345million 

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