End of mansion tax threat lifts top tier of London’s property market May 25, 2015 The higher end of the London housing market is seeing market volumes return following Labour’s defeat in the General Election, ending the threat of a proposed mansion tax on properties over £2m. The number of properties over £2m listed on Getagent.co.uk, an estate agent comparison site, more-than doubled in the weeks after the national vote, [...]
Financial hiring rebounds after election result as job vacancies in Glasgow and Edinburgh surge 21 per cent following independence vote May 25, 2015 Hiring in the City dipped in the run-up to the General Election, but has rebounded on the Conservatives’ victory, recruitment firm Venn Group said today. Advertised vacancies fell by 10 per cent in April, on fears that a Labour win could have led to higher taxes and more red tape. The surge in vacancies since [...]
Families hit the high street over bank holiday May 25, 2015 Britain’s high streets enjoyed a welcome boost over the bank holiday weekend as the warm weather and the start of the summer half term for many schools brought more people into stores. Footfall rose by 4.4 per cent over the weekend compared with the same time last year, overcoming the decline seen in recent months, [...]
Exclusivity clauses in zero hour contracts banned from today May 25, 2015 New rules banning exclusivity clauses in zero hours contracts come into effect today, stopping employers from preventing hourly staff from working for another employer. The new provisions were first introduced under the last government, and championed by former business secretary Vince Cable. They were passed into law under the small business, enterprise and employment bill, [...]
Invoice delays top 107 days with construction firms taking the hit May 25, 2015 Businesses in construction and real estate were forced to wait over 15 weeks for invoice payments last year, despite the ongoing economic recovery. The new report, published today by the Asset Based Finance Association (ABFA), comes after recent research by insolvency trade body R3 revealed £41.5bn in late payments was owed to UK businesses [...]
European stocks feel the pressure after Greek minister says default is on the horizon and Spain’s ruling party is punished at the polls May 25, 2015 European stocks are feeling the latest shockwaves from Greece. Yesterday Greece’s interior minister said that the country wouldn’t be able to pay the €1.6bn (£1.1bn) it owes the IMF next month. To add to the jitters, the ruling Popular Party (PP) in Spain was hammered at the polls, with smaller, ant-establishment parties doing well. The [...]
Eurovision Song Contest 2015: Secretly, these countries are probably hoping they lose May 23, 2015 The Eurovision Song Contest is getting more and more expensive, despite Europe's decline into austerity. The annual tradition blossomed in the 60's, at a time when things looked brighter for Europe and there was a stronger sense of solidarity. But now the event is more lavish and over-the-top than ever, and each year the winning [...]
Email slip-up reveals Bank of England’s investigation into what would happen if UK left the EU May 23, 2015 The Bank of England is carrying out a confidential investigation into what would happen if the UK left the European Union (EU), an email accidentally sent to The Guardian has revealed. It discloses details of a special task force set up by the central bank to look into the economic consequences of a UK exit, [...]
Public sector borrowing: Higher tax receipts helped shrink the budget deficit in April May 22, 2015 Chancellor George Osborne was given a boost today, as higher tax receipts helped shrink the deficit by more than expected in April. Public sector net borrowing excluding state-controlled banks fell by about 27 per cent to in the year to April, reaching £6.8bn, below economists' forecasts of £8.1bn, and its lowest level for that month since [...]
Mario Draghi: Structural reforms needed as growth is “too low everywhere” May 22, 2015 European governments must increase efforts to adopt structural reform if “lasting stability and prosperity” is to return to the Eurozone, Mario Draghi has said today. Reforms were needed to avoid future shocks to the system, making resilience “part of our common DNA”, he said in a speech at the start of the ECB’s annual [...]