DEBATE: Is Universal Credit fit for purpose? March 4, 2021 Jonathan Reynolds, Shadow Secretary of State for Work and Pensions says NO Universal Credit has failed on its own terms. It is not offering a route out of hardship instead it is perpetuating a cycle of debt and destitution that is hurting our economy. The system starts people off in debt through the five week-wait, [...]
National Insurance hikes for social care are a reverse Robin Hood picking the pockets of the young and poor September 4, 2021 The Health Secretary Sajid Javid is pushing for a 1% to 2% rise in national insurance to fund social care and the NHS. The Cabinet are reportedly split on the size of the increase, but not on the idea itself. A manifesto-breaking tax rise of some proportion is expected to be announced next week. The [...]
Digital GP app Livi prescribes €200m funding boost amid pandemic boom February 12, 2021 One of the largest digital GP platforms in Europe is said to be in talks to raise a further €200m (£176m) as the Covid-19 pandemic drives up demand for remote healthcare services. Kry, which trades as Livi in the UK, is working with bankers at JP Morgan on a series D funding round, Sky News [...]
Eurostar collapse would be ‘disastrous’, warns RMT February 9, 2021 The UK’s biggest union for transport workers, the RMT, has today warned the government that failing to support the Eurostar would be “disastrous” for the country. The union has launched a petition calling on transport secretary Grant Shapps to “urgently agree” assistance for the cross-Channel rail link. However, all the signs so far suggest that [...]
Cummings cements power over ministerial aides September 18, 2019 Boris Johnson’s top aide Dominic Cummings has handed himself more power over ministers’ advisers, as part of ongoing efforts to centralise control. Special advisers, known as Spads, were this week sent new employment contracts stating that disciplinary matters rest “with your appointing minister and the Prime Minister’s chief of staff”, according to The Times. Previously, [...]
Eurostar receives £250m refinancing package after months of waiting May 18, 2021 Eurostar today announced that it had received a £250m refinancing package from a group of banks in a bid to shore up its finances amid the Covid-19 pandemic. The firm said that the deal, which comprises £50m shareholder equity, £150m shareholder guaranteed loans and £50m restructured existing loan facilities, would be guaranteed by majority shareholder [...]
Let’s talk Aviva: Smaller but richer insurance firm is looking to grow again September 29, 2021 It has been an interesting couple of months for insurance firm Aviva. The City giant sacked its fund manager and was dragged into a leasehold agreement affair it had hoped to avoid. Nevertheless, following a year of cutting costs and selling foreign assets, Aviva feels confident about the future. The company is firmly on investors’ [...]
Government releases £800m of dormant funds for pandemic recovery January 9, 2021 The government will release dormant assets from across the insurance and pensions sector to expand its coronavirus recovery efforts. The Department for Digital, Culture, Media and Sport has today announced the expansion, which will also secure assets from the investment, wealth management and securities sectors, could unlock over £800m. Funding raised through the expansion of [...]
Boris Johnson the overwhelming favourite as Conservative MPs vote in leadership election June 13, 2019 Conservative MPs are casting their votes this morning in the first round of voting to replace Theresa May as party leader. Former foreign secretary Boris Johnson is the overwhelming favourite in the field of 10 candidates. Tory MPs cast their votes in a room in parliament this morning between 9am and 11am. Candidate with 16 [...]
British Gas engineers extend strike over company’s fire-and-rehire policy January 20, 2021 British Gas engineers extended their second five-day strike to seven this morning amid the company strategy to fire and rehire workers on poorer conditions, union GMB said. GMB National Secretary Justin Bowden said: “British Gas engineers are being fired and rehired and have been left with no choice but to take action again.” However, according to British Gas parent company Centrica, it has [...]