Friday 24 April 2026
The Mighty Headlines
Economics: UK IHT and CGT tax receipts rise by 40% in a year
Business and markets: Meta and Microsoft to cut thousands of jobs
Foreign Affairs: EU leaders meet to discuss Iran, Ukraine and defence
Security and intelligence: Japan to create National Intelligence Council
Domestic politics: UK and France make new deal on illegal Channel crossings
The Mighty Stats
FTSE = 10,457.01 (down 0.19%)
S&P 500 = 7,108.40 (down 0.41%)
Nasdaq = 24,438.50 (down 0.89%)
Stoxx 600 = 614.20 (up 0.052%)
£1 = $1.35 / €1.15
Lab / Con / Reform / Green = 15 / 16 / 25 / 21 per cent (Find Out Now, 22-23 April)
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The Mighty Detail
Economics: Data published yesterday show that the UK Government received over £30 billion from inheritance tax (IHT) and capital gains tax (CGT) in 2025/26. This is an increase of 40 per cent on the previous year.
Revenue from CGT increased from £8.5 billion to £22.2 billion in a year.
Revenue from IHT increased by around £200 million.
A combination of people rushing to sell assets to avoid the Government’s new higher tax rates for CGT and frozen IHT thresholds were factors in the increase.
Business and markets: Microsoft and Meta (owner of Facebook) are both looking to cut employee numbers. Microsoft said yesterday that it was offering voluntary buyouts to around 7 per cent of its US workforce. Meta said it would cut around 10 per cent of employees (around 8,000 people) and that it had decided not to fill 6,000 open positions.
Foreign Affairs: An informal summit of EU leaders began in Cyprus yesterday evening and continues today. Leaders are discussing the wars in Ukraine and Iran, energy issues, and mutual defence provisions (similar to NATO’s Article 5 provision).
The EU separately agreed a €90 billion loan for Ukraine yesterday after Hungary dropped its veto as well as further sanctions on Russia.
Security and intelligence: Japan’s lower house of Parliament has passed legislation to create a new National Intelligence Council and Bureau. The bodies will help to organise policy around national security.
It follows news earlier this week that Japan had removed restrictions on the export of lethal weapons for the first time since World War II.
Domestic politics: The UK and France have reached a new agreement to reduce illegal Channel crossings. This includes increasing the number of enforcement personnel in France and completing a new detention centre in Dunkirk, among other initiatives. A total of £661 million will be available to fund the measures.
The Mighty Calendar
What’s happening today?
President Macron visits Greece
President Trump addresses the Republican National Committee Spring Retreat
Assisted Dying Bill debate continues in the UK House of Lords
UK retail sales data (March) – set to fall from 2.5% to 1.3%
Company results from: Procter and Gamble, Nomura
Lookahead to the weekend
Saturday
ANZAC Day service at Westminster Abbey, London
White House Correspondents’ Association dinner
FA Cup semi-final: Manchester City vs Southampton
World’s first autonomous, zero-emission hydrogen-powered vessel, Energy Observer, passes through Tower Bridge, London
Sunday
40th anniversary of the Chernobyl nuclear disaster
London Marathon
FA Cup semi-final: Leeds vs Chelsea
The Mighty Finale
🌤️Weather today
Pleasantly sunny across the UK. High of 19C and low of 5C in London.
✏️Life coaching quote of the day
This may be one of the best quotes we’ve come across in our time publishing the Mighty Memo:
“Whatever age you are today, your future self would love to be it.
Most people do not consider 65 to be a young age, but when you're 75 you'd love to rewind to 65 and regain those years. Few people would describe 35 as your youth, but in your mid-50s your mid-30s will seem like the “young you.”
Today is a great opportunity, no matter your age. Looking back in a few years, today will seem like the time when you were young and full of potential or the moment when you could have started early or the turning point when you made a choice that benefited your future.
The moment in front of you right now is a good one. Make the most of it.” – James Clear, writer
Mighty takeaway: Don’t put things off. Live for today!
That’s it for this Friday morning and for this week. We hope that you have a lovely weekend.
Adios!
The Mighty Memo team
*To read the Mighty Memo manifesto and learn about why we do this visit: https://www.mightymemo.co.uk/why*