London to trial world’s first all-electric double-decker bus June 29, 2015 The world's first purpose-built, entirely electric, double-decker bus will be picking up London commuters this autumn, mayor Boris Johnson has announced. The bus, which is being manufactured by Chinese group BYD, will hit the streets in October, running along route 16 between Cricklewood and Victoria Station. The zero-transmission bus joins a growing fleet [...]
Public sector borrowing improves in October – but not enough to get financial year back on track November 21, 2014 Public sector net borrowing, excluding banks, has fallen by £200m year-on-year to £7.7bn in October – but it looks to be a case of too little too late when it comes to chancellor George Osborne's targets for the financial year. Figures published by the Office for National Statistics this morning showed that year-on-year borrowing [...]
If you needed more evidence that Osborne’s Autumn Statement was a disappointment, here it is December 5, 2013 We've said that Osborne's Autumn Statement really isn't today's big event. Now US GDP numbers that show the UK is no longer the rich world's fastest growing economy have proven that point. You can see what markets think of the two events in the yields of UK 10 year government bonds – which imply the [...]
My challenge to the chancellor: Be brave – CNBC December 1, 2014 LIONEL Richie’s “Nothing Left To Give” is a tune George Osborne might be humming as he racks his brains over what to unveil in his Autumn Statement tomorrow. Or maybe “If I Could Turn Back the Hands of Time” by R Kelly will be stuck in his head, if he recalls the more favourable fiscal [...]
UK house price growth slows again: Can stamp duty save the market in 2015? December 30, 2014 We know the drill by now – slowing house price growth in many areas as demand wanes and the murmurings about a base rate rise reflect the logic that no matter what, it’s getting closer. Why exactly demand is waning remains something of a mystery (more of that later). Nationwide’s figures this month [...]
Budget 2015: A quick guide to all the key measures March 18, 2015 Chancellor delivers good news for savers and first-time buyers as he turns up heat on banks in play for votes ahead of election. UK ECONOMIC OUTLOOK ● The UK was the fastest growing economy in the G7 last year. However, the economy grew by just 0.5 per cent in the final three months of 2014, [...]
Britain needs Multinational Monday – not yet more arbitrary tax hikes December 8, 2014 BRITAIN has just celebrated “Small Business Saturday”. Perhaps yesterday should have been declared “Multinational Monday”. Multinationals are often the engine of poverty reduction in under-developed countries; and they promote technology transfer and transform lives all around the world. Indeed, it is difficult to imagine what life would be like without them. Of course, multinationals deserve [...]
Cameron will delay the Autumn Statement to lead visit to China November 12, 2013 PRIME Minister David Cameron has announced a major trade visit to China, pushing back the timing of the chancellor’s Autumn Statement. Speaking at the annual Lord Mayor’s banquet last night, Cameron said that he would be leading an official visit to China, accompanied by UK business chiefs early next month. Though he did not confirm [...]
RBS sells another $5.6bn of US loans as it re-focuses on Britain April 27, 2015 RBS SOLD another giant package of US and Canadian loans yesterday, with Japanese bank Mizuho snapping up the assets. The $5.6bn (£3.7bn) of loan commitments generated a post-tax profit of $20m last year and is being sold for around $500m. That means RBS is making a loss on the sale. But it moves the bank closer to [...]
Letters to the Editor – 03/12 – Heathrow noise, Autumn Statement, Best of Twitter December 2, 2013 Heathrow noise [Re: Our innovative Heathrow plan could expand capacity without huge costs, Friday] It’s not clear to me that the author’s suggestions would limit the number of additional residents affected by Heathrow expansion, or merely dump even more noise on to those of us who already suffer. When the inspector gave the go-ahead for [...]