Britain needs a state-backed infrastructure blitz to restore confidence in the economy July 11, 2016 Within weeks or months, the UK will have its first “Brexit Budget”. While Westminster focuses slavishly on the question of who might deliver that Budget at the despatch box, it is the content that could shape our economy for decades – and determine whether the European transition we now face is a great success or [...]
Corbyn: Future Labour government would back financial transaction tax June 22, 2016 A future Labour government would back the EU on a financial transaction tax, Jeremy Corbyn said at the party's final Remain rally. The Labour leader announced his support for the tax standing alongside London mayor Sadiq Khan whose against the measure. Corbyn said the levy was “a very sensible proposal I am sure everybody in this building would agree [...]
Institute of Directors names Stephen Martin as new director general July 28, 2016 Top lobby group The Institute of Directors (IoD) will today announce who will be taking over as its new director general – a role dubbed “the bosses’ boss”. Stephen Martin, a long-standing IoD member with a background in industry, has secured the high-profile position as chief of the 113-year old organisation after an eight-month long [...]
How nine challenger banks reacted to the CMA’s report on current accounts August 9, 2016 Nine challenger banks including TSB and Metro Bank have slammed the findings of the UK's competition watchdog in its investigation into the retail banking sector, arguing the review has missed “a golden opportunity”. The Competition and Markets Authority (CMA) report, published this morning, called on banks to implement an “open banking” standard by 2018, allowing customers to monitor and access all [...]
Reducing taxes, ending trade deals, squaring up to China and blocking mega-deals: Do Donald Trump’s policies add up? November 9, 2016 Casual observers of the US presidential election campaign may be surprised to learn that Donald Trump’s policy plans extend beyond building a wall across the Mexican border and banning Muslim people from entering the US. In fact, the Republican has set out plans for change across 15 policy areas, including foreign policy, national defence, infrastructure, cybersecurity and regulations. [...]
Queen’s Speech 2016: What to expect today, plus where to watch it May 18, 2016 From Brexit to Islamic extremism, prison reform and driverless cars, the Queen's Speech is expected to set out a whole raft of new measures from the government. The Queen's Speech is expected shortly after 11:30am, as the centrepiece of the State Opening of Parliament, a tradition that dates back to 1536. The proposals are expected [...]
As he says he’ll be gone by October, was Prime Minister David Cameron right to resign? June 26, 2016 Alex Deane, a common councilman who sits on the Corporation of London’s Policy and Resources Committee, says Yes. The Prime Minister was right to resign. Leadership after defeat would have proven exceptionally difficult. The former Cabinet secretary, Lord Butler, was right to say of the PM before the referendum that his position “would be untenable if we [...]
Brexit has driven down bond yields – and it’s hurting pension funds and banks July 5, 2016 The idea of loaning a government money for no return is absurd. But that’s what’s happening in five European countries, and at some multi-nationals. Investors have been loaning them money for next to nothing, and in some cases even paying for the privilege of buying up the debt. So-called negative yields have been creeping across Europe [...]
The UK economy is in desperate need of a productivity roadmap to give it a much needed boost May 10, 2016 It’s no secret poor productivity is partly to blame for the slowing of GDP growth. Official figures from the Office for National Statistics illustrate labour productivity fell by 1.2 per cent in the fourth quarter of 2015 from the third quarter, the biggest drop since the financial crisis in 2008. The latest ICAEW Economic Forecast [...]
Carney fires his big bazooka with massive Bank of England stimulus programme August 4, 2016 The Bank of England has unleashed a massive stimulus package today as it warned growth in the UK economy will grind to a halt over the next 18 months. In a dramatic move, the Bank’s monetary policy committee (MPC) voted unanimously to slash interest rates to 0.25 per cent while also unleashing a huge extension of [...]