Philip Hammond has axed his Budget plan to hike National Insurance contributions March 15, 2017 Exactly a week after it was first announced, chancellor Philip Hammond has said he will scrap a Budget plan to increase National Insurance contributions for the self-employed. Hammond only announced the plan last Wednesday, but has been forced into a U-turn by widespread criticism of the decision. Tory MPs have complained of the added burden on small businesses, while others have pointed to a [...]
Rolls-Royce shortlisted to build fleet of baby nuclear reactors June 5, 2016 FTSE 100-listed engineering company Rolls-Royce has been shortlisted to build a fleet of mini nuclear reactors, City A.M. understands. It's part of the government's £250m nuclear research programme unveiled in last year's Autumn Statement, which includes a competition to identify the best value small modular reactor (SMR) design for the UK. Read more: There's no way Hinkley Point project will be finished [...]
The new 10.5 inch iPad Pro is the best tablet there is – but is it too good? July 6, 2017 Apple is so far ahead of the pack when it comes to tablets that it inadvertently invented an entire class of products of which it has never made a single one. All those hybrid laptops, where the screen snaps off, for reasons largely unspecified, are the result of the technology industry shrugging its shoulders in [...]
As the monetary policies of the US, the UK and the Eurozone diverge, what should investors make of this fork in the road? September 13, 2016 Since the end of last week, speculation has been mounting that the US Federal Reserve will raise interest rates again this year. The probability of a September rate raise looks slimmer after the Fed’s most dovish official, Lael Brainard, struck a cautionary tone in a speech yesterday. But there is a strong chance that the next [...]
Perhaps chancellor George Osborne needs an emergency Budget after all June 22, 2016 Chancellor George Osborne took some flak for last week's anti-Brexit stunt, during which he unveiled an "illustrative" emergency Budget consisting of £30bn in tax hikes and spending cuts. This sweeping phase of austerity would be necessary following a vote to leave the EU, Osborne insisted, due to the ensuing economic shock. Economists were unimpressed with the proposal, [...]
It’s time Chicken Licken Remainers admitted the sky hasn’t fallen in post-Brexit September 8, 2016 Before the referendum, the Remain camp did not hold back from listing the catastrophic consequences of Brexit. The banks and financial services sector would abandon London overnight, they said. Vital funding would be lost for farming, science and regeneration schemes. The British economy would immediately stall, then spiral into a crash. Eleven weeks on from [...]
The chancellor’s fiscal reset is a golden opportunity to slash living costs through tax cuts and planning reform September 5, 2016 Philip Hammond recently said that he may use the Autumn Statement to “reset” fiscal policy. That is a welcome sentiment because it suggests the chancellor sees before him a golden opportunity to transform the tax system. With Parliament returning, we are likely to see the government start to formulate and publicise more detailed economic policy [...]
Ristorante Frescobaldi review: A well curated wine bar tempered by some tame Italian fine dining March 14, 2017 Opened in November 2014, this is the first UK restaurant of those world-renowned purveyors of grapejuice, the Frescobaldi family. They’ve been turning out Tuscan wines since 1308, and their bottles are said to have been enjoyed by everyone from Renaissance visionaries to Popes. The glass-fronted wine cellar by the entrance is a statement of intent: [...]
Rival Green Investment Bank bidder condemns government’s “unfortunate” choice of Macquarie as preferred bidder February 24, 2017 The chief executive of a rival bidder in the Green Investment Bank privatisation has condemned the government for making an “unfortunate” choice of preferred bidder and stubbornly sticking with it. The government is in exclusive talks with Australian investment bank Macquarie as it seeks to sell-off the £2bn-valued Green Investment Bank. The deal has come [...]
Here’s how Philip Hammond can reassure small businesses and investors alike August 4, 2016 Philip Hammond was quick to rule out a post-Brexit Budget after being installed as the new chancellor. Number 11’s latest resident, who will wait instead until the Autumn Statement, has also stated that he will support the City, and wider business, as the UK exits the EU. The challenge, Hammond has observed, is to send “signals [...]