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An independent Scotland would inherit a fiscal hole because of lower than expected tax revenues, according to an analysis by the Financial Times. The FT says Brexit and coronavirus have increased the nation’s budget deficit and would have an impact if Scotland left the UK by the middle of the decade. But the paper says the SNP is reiterating its calculations from 2018 that show pre-Covid tax revenues would cover all devolved spending on day-to-day public services and says independence would allow Scotland to make the best economic choices.

Financial Times Front Page 2nd of February 2026

Emails reveal Peter Mandelson advised Jeffrey Epstein that JPMorgan should pressure the UK over the 2009 bankers’ bonus tax, urging contact with the chancellor. He says he sought to protect jobs and investment. Labour is under pressure to address the revelations.

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Financial Times Front Page 31st of January 2026

Donald Trump nominated Kevin Warsh to lead the Fed, signalling a firmer stance on inflation. Markets backed the dollar and trimmed expectations of rapid rate cuts. US yields rose while gold fell as investors priced in steadier policy and renewed questions over central bank independence.

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Financial Times Front Page 30th of January 2026

US immigration agencies under the Trump administration have awarded about $22bn in contracts since July, with Palantir and Deloitte among winners. ICE’s spending has doubled, and donor-linked Fisher Sand & Gravel has gained about $6bn. Deals cover tech, detention and logistics services.

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