Financial Times - Dec. 1

The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

- UK shelves proposals to raise capital gains tax rates and cut allowance https://on.ft.com/3G1tmX9

- Omicron could keep inflation high for longer, says Bank of England policymaker https://on.ft.com/3G1maKB

- Boris Johnson pledges COVID-19 booster jabs for all adults by end of January https://on.ft.com/3G0rY73

- UK will not engage in 'tit for tat' with EU over financial services https://on.ft.com/3pcGG4h

Overview

- Britain has shelved proposals to raise capital gains tax rates to align them with income tax and slash the levy's annual allowance.

- Bank of England policymaker Catherine Mann said on Tuesday the emergence of the Omicron variant of COVID-19 could mean inflation remains high for longer than expected if it prevents consumers switching their spending from goods to services and prolongs disruption to global supply chains.

- In response to the rapid spread of the Omicron variant, British prime minister Boris Johnson on Tuesday pledged to offer all eligible adults in England a COVID-19 booster vaccination by the end of January 2022.

- Britain will not engage in "tit for tat" with the European Union by restricting access to the city of London or trying to stop UK-based banking staff relocating to the continent, chief executive of Bank of England's Prudential Regulation Authority Sam Woods said on Tuesday.