After meeting leading bankers in Davos, will Theresa May be able to limit job moves out of the City? January 20, 2017 Jonathan Portes, professor of economics and public policy at King’s College London, says Yes. Theresa May’s Brexit speech has been well received politically – but the implications for the UK’s financial sector are becoming apparent: banks are announcing the transfer of jobs out of London, the inevitable consequence of the government’s decision to leave the [...]
Brexit secretary: UK would consider paying EU for Single Market access December 1, 2016 Brexit secretary David Davis has revealed that the UK is prepared to consider paying to the European Union to secure terms on Single Market access. Speaking in the House of Commons this morning, Davis was asked by Labour Caerphilly MP Wayne David whether the government would consider making “any contribution in any shape or form” [...]
Brexit minister confirms bumpy EU departure will hurt Europe as well as UK January 12, 2017 A junior minister from the Brexit department has today become the latest in a string of voices to say a bad Brexit deal will harm Europe. In a grilling with the House of Lords on transition periods, parliamentary under secretary of state Lord Bridges of Headley said: "We want to have a smooth and orderly exit [...]
US production growth booms as manufacturing expands at fastest rate since 2014 February 1, 2017 The US manufacturing sector grew faster than expected in January to expand at the fastest rate since the end of 2014, according to a widely followed indicator of economic health. The purchasing managers’ index (PMI) for America’s manufacturers reached 56 per cent, according to the Institute of Supply Management (ISM), up from 54.5 per cent [...]
Wanted: A bold government housing strategy that delivers for the young rather than the old December 6, 2016 If Brexit wasn’t dominating British politics, then one other issue would be: the lack of housing. If you know someone under 30, living in London and able to afford their first home, then your friend belongs to the country’s richest percentile. For most people, even for those on what used to be a decent median income, owning [...]
Theresa May is guaranteeing businesses a “phased” move into Brexit January 17, 2017 Prime Minister Theresa May has promised to avoid a "cliff-edge" transition to Brexit, while stressing she hopes to have reached a deal within the two year Article 50 process. May has said she will begin Brexit talks by the end of March, and speaking at Lancaster house today, she reiterated that the government does not [...]
Theresa May backs down over plans for a Brexit white paper January 25, 2017 Prime Minister Theresa May has confirmed plans to publish a Brexit white paper, just over 24 hours after the Supreme Court ruled that she must gain the approval of parliament to trigger Article 50. Speaking at Prime Minister's Questions today, May said she recognised an "appetite" among her own MPs for the paper, citing questions [...]
Theresa May says she’s had positive talks with banks over Brexit January 19, 2017 Prime Minister Theresa May has claimed positive talks with some of the world's top bankers in Davos, despite news that lenders are preparing to shift jobs from London. UBS, Goldman Sachs and HSBC have all suggested that roles in the capital could be under threat in the aftermath of Brexit. However, speaking to the BBC today, [...]
US President Donald Trump gets to work with executive order to scrap Trans-Pacific Partnership and border tax threat January 24, 2017 Donald Trump kicked off his first week as President by signing an executive order withdrawing the US from the Trans-Pacific Partnership trade deal, branding the move a “great thing for the American worker”. The departure from one of Obama’s signature policies comes after Trump pledged in his inauguration address to “put America first”. Though the deal [...]
Buy-to-lose? With new restrictions on buy-to-let mortgages and the introduction of other punitive measures in 2017, is there any value left in letting for mortgaged landlords? January 11, 2017 As we enter 2017, the tide has truly turned against Britain’s buy-to-let landlords. First, George Osborne discouraged people from buying a second residential property by imposing extra stamp duty of 3 per cent. Now, the Bank of England is demanding that mortgage lenders “stress test” loans to landlords. Since 1 January, the Bank’s Prudential Regulation [...]