City watchdogs ordered to go for growth by government November 9, 2021 The government will task financial regulators with boosting the City’s competitiveness as part of a push to secure the UK’s status as a leading financial hub. In a sweeping set of reforms launched yesterday designed to overhaul the regulatory regime shaping the City, the government said regulators would be given a further objective to “facilitate [...]
£1.5bn Covid pot for businesses without tax relief has not paid out single penny yet October 11, 2021 A support pot with £1.5bn in funds created for business that were not able to get tax relief during the Covid pandemic has not paid out a single penny yet. In March, the government announced that it would retrospectively ban more than 170,000 business rates appeals which cited the pandemic as the reason for changing [...]
Boris Johnson admits UK shortages are here to stay until Christmas October 3, 2021 Boris Johnson has admitted the UK’s goods shortages will likely last until Christmas, while adding that “we need to see” a “period of adjustment” post-Brexit. The Prime Minister said today that he would not “pull the lever” of more immigration in the short-term to stop the lorry driver shortages. Petrol shortages are still being seen [...]
One-in-three working Britons had wages subsidised by government during Covid July 8, 2021 One-in-three of the UK’s workforce had their pay subsidised by the government during Covid-19, new figures from the Treasury revealed today. The figures showed that 11.6m people were on the furlough scheme at some point throughout the pandemic, while 2.9m self-employed people made use of the Self-Employment Income Support Scheme. The furlough scheme has seen [...]
Labour calls for vaccine passports as part of Plan B restrictions in winter October 24, 2021 Labour has today called for the government to bring back Covid restrictions this winter, after a pair of rapid U-turns on the issue. Shadow chancellor Rachel Reeves said Boris Johnson should advise people to work from home, while also making face masks and vaccine passports mandatory as a part of the government’s Plan B Covid [...]
Petrol retailers could face fines if they fail to pass on fuel duty cuts to consumers May 19, 2022 Petrol retailers could be fined if they fail to pass on fuel duty cuts to customers, warned the Competition and Markets Authority.
Households braced for mortgage shock ahead of rates hike as cost of living crisis deepens January 31, 2022 Fresh warnings over the cost of living have been issued as millions of households could face a huge mortgage shock. Trade body UK Finance has said one in four mortgage borrowers on variable rate deals will be affected by an anticipated rates rise, The Telegraph first reported. The Bank of England is anticipated to hike [...]
Andrew Bailey is putting the Bank’s independence at risk if he wavers on inflation May 18, 2022 Andrew Bailey’s ability to steer monetary policy through the inflation crisis will determine the Bank’s future strength
British family sells $10m Van Gogh to avoid rise in capital gains tax February 26, 2021 A British family are selling a Vincent Van Gogh drawing for a record breaking $10m (£7.1m) to avoid a potential rise in capital gains tax in next Wednesday’s budget. Thomas Gibson, a London art dealer, and his three sons have decided to sell the Van Gogh alongside seven other works, including art by Lucian Freud [...]
UK to unveil new visa scheme for fintech workers February 21, 2021 Rishi Sunak will reportedly unveil a new UK visa scheme to help London’s fintech firms attract more global talent in the wake of Brexit. The new visa fast track scheme will give priority access to professionals in the tech industry to live and work in the UK as a part of the country’s new post-Brexit [...]