Infrastructure chief Lord Adonis quits post over Theresa May’s handling of Brexit December 30, 2017 Influential peer Lord Adonis has quit his post as an infrastructure adviser, saying that the government has become too aligned with Ukip over Brexit. Adonis was head of the government’s National Infrastructure Commission (NIC), but has told Theresa May that Brexit is preoccupying Whitehall, and that she is not focused on other political issues. Read [...]
Business groups slam apprenticeship levy as firms fail to withdraw funds one year on April 6, 2018 One year on from the introduction of the apprenticeship levy, business groups are calling for urgent reform of the controversial policy as firms leave more than £1bn of funding untouched. Data published by the Open University today shows that businesses have paid £1.39bn into new National Apprenticeship Service accounts, yet have withdrawn just £108m. Businesses [...]
Insurance discount rate debate: A fundamentally flawed decision that could cost the sector billions February 22, 2017 No one can dispute the right of someone seriously injured in an accident to receive compensation. Where claimants choose to take a lump sum, arriving at the right figure is no easy task as it needs to take into account the long-term cost of care and loss of earnings, among other things. A key component [...]
Exclusive: City unlikely to get more than “token, minimalist” Brexit deal April 13, 2018 A senior City figure has warned that the UK risks being stuck with a “token, minimalist” deal on financial services as part of the post-Brexit agreement with the EU in October. The source, who is privy to conversations with key players on both sides, told City A.M. that while services are likely to be referenced [...]
Sadiq Khan’s meddling is a bigger threat to London than Brexit June 8, 2018 Next week’s vote in the House of Commons to either accept or throw out their Lordships’ amendments to the European Union (Withdrawal) Bill has all the appearance of being the defining moment for what type of relationship we are likely to have with the EU. As is usual with everything to do with Brexit, to [...]
Audit’s perfect storm: How bean counters found themselves at the centre of a public uproar October 21, 2018 On the the surface, there is little reason for audit to get the blood pumping. The reality, however, is quite different, and threatens to present the sector’s biggest players – sprawling multi-nationals used to finding that all news is good news when you count the beans – with the toughest challenge they have seen in [...]
Ministers Philip Hammond, Greg Clark and David Davis promise agreement with EU for Brexit transition period by end of March January 27, 2018 Three top ministers have written an open letter to businesses, promising to finalise a Brexit transition agreement by the end of March. Chancellor of the Exchequer Philip Hammond, business secretary Greg Clark and Brexit secretary David Davis co-signed the letter to business leaders yesterday evening. They wrote that both the British government and the EU [...]
Government cuts discount rate: Insurance sector says “crazy” decision will cost the industry billions February 27, 2017 The UK's insurers were left reeling this morning after the government announced changes to a key insurance sector discount rate, costing them hundreds of millions of pounds. Direct Line said annual profits for 2016 would be cut by up to £230m, while motor insurer Admiral estimated it will take a hit of up £100m and is to [...]
Labour plans to move the Bank of England to Birmingham: Lord Adonis gives John McDonnell’s idea the thumbs-up December 11, 2017 Influential peer Lord Adonis has backed a suggestion from John McDonnell that the Bank of England move to Birmingham. The Bank of England has been based in London for more than 300 years. However, Labour’s shadow chancellor has concluded the bank’s current location is “unsatisfactory and leads to the regions being underweighted in policy decisions”. [...]
Brexit talks: Lord Mayor Charles Bowman presses UK Prime Minister Theresa May to start EU trade talks November 13, 2017 The City’s new Lord Mayor Charles Bowman will this evening make a direct appeal to Theresa May, asking her to kick-start trade talks with the European Union. In his speech at the Lord Mayor’s Banquet, which will be attended by the Prime Minister, Bowman will press the government to enter phase two of the Brexit [...]