Why staying close to your accountant matters more now May 13, 2020 Accountants exist to ensure the accuracy of financial statements and advise how to save money or boost revenue. The coronavirus pandemic, then, with its profound and deepening impact on the economy has jolted the profession like all others. Depending on their role, accountants have been battling to keep on top of the unprecedented flurry of [...]
‘Catastrophic’: Hospitality and leisure industries sound alarm over Johnson measures March 17, 2020 The UK’s hospitality industry issued a doom-laden warning last night after Prime Minister Boris Johnson yesterday told Brits to steer clear of pubs, eateries and theatres as the government escalated its coronavirus “fightback”. In a statement which Johnson acknowledged was unprecedented in peacetime, he urged Londoners in particular to “avoid all non-essential contact” with others [...]
Question marks surround Boris Johnson’s first budget February 16, 2020 The timing and content of the forthcoming budget was thrown into doubt this weekend, with the government refusing to confirm either the date of the announcement or that the current spending limits would remain in place. Boris Johnson is considering scrapping fiscal spending rules written just months ago as Number 10’s plans to take greater [...]
Coronavirus and policymaking: Mario Draghi didn’t just say ‘whatever it takes’ March 24, 2020 These are unprecedented times. Our lives as we know them have been upended: the comforts of routine squarely thrown out of the window and replaced with a combination of anxiety and dread. The coronavirus pandemic of 2020 is a black swan that no one saw coming (though we should have been better equipped) and has [...]
UK incomes have stalled since 2016, but economists aren’t blaming Brexit March 5, 2020 Incomes have stalled and inequality has risen in the UK since 2016, official figures showed today, highlighting the size of the task the government faces in “levelling up” the country. The Office for National Statistics (ONS) said that growth in median income stalled between the 2016-17 financial year and 2018-19, growing on average 0.4 per [...]
Who will the PM hire as the press conference spokesperson? July 29, 2020 The Prime Minister today launched a search for a spokesperson to host White House-style daily televised press briefings, in a bid to boost government transparency during the pandemic. An advert for the job posted on the Conservative’s Linkedin page suggested that the successful candidate will be a well-known figure on the political circuit, and assured [...]
Global stocks set to spiral despite coronavirus stimulus measures March 18, 2020 Global stocks looked set to slump yet again today as investor panic over the escalating coronavirus outbreak clouded the impact of major government stimulus policies. Hong Kong’s Hang Seng index slumped 3.5 per cent while Japan’s Nikkei dropped 1.7 per cent overnight, failing to follow a rally in US stocks yesterday. Wall Street rebounded yesterday [...]
‘Levelling up’ is as important for London as it is for the rest of the country March 17, 2020 For many years there have been calls to bridge the UK’s stark north-south divide. These have come under many badges, from “rebalancing the economy” to “building a Northern Powerhouse”. Now, “levelling up” is the choice term for a government ambitious to deliver for voters who tore down Labour’s so-called “red wall” in December’s election. It [...]
Foxtons shares slip after profit takes Brexit blow February 28, 2020 Estate agent Foxtons has posted a 30 per cent drop in annual profit against the backdrop of last year’s Brexit uncertainty. Earnings before interest, tax, depreciation and amortisation (Ebitda) fell to £2.5m during 2019, a year-on-year decrease of 30 per cent from 2018’s £3.6m. The estate agent narrowed its loss before tax from £17.2m last [...]
Coronavirus: Businesses call on banks to do more as small firms face closure April 1, 2020 The business community has called for the UK’s banks to do more to support struggling smaller companies after it emerged that 20 per cent of all UK SMEs could shut within the month due to the coronavirus lockdown. Any UK small business with a turnover of up to £45m a year can, under new Treasury [...]