The chancellor’s new investments should boost productivity – but the next few years are going to be tough November 23, 2016 Philip Hammond kept the nation in suspense as to the new government’s priorities for the economy until the Autumn Statement, and generally it was worth the wait. The chancellor proved a bigger spender, focusing on one of the fundamental challenges facing the UK economy beyond Brexit – productivity. If the UK is to forge a [...]
Britain’s business groups attack “worrying” plans for a £1,000 charge on EU recruitment January 11, 2017 Business groups have hit out at proposals for a £1,000 charge to recruit European workers, warning the plan would Immigration minister Robert Goodwill told a House of Lords Committee earlier today that the Home Office was considering extending incoming charges for non-European recruits to all incoming migrants. From April, recruiting non-EEA skilled workers will see [...]
Focus On Victoria: A £4bn investment in housing, retail and infrastructure is making it a destination in its own right February 10, 2017 If the Queen’s getting a £369m refurbishment of Buckingham Palace, it seems only fair that the neighbourhood surrounding it should get a polish, too. £4bn should just about cover it, and that’s how much has been invested in the area by developer Land Securities over the last five years. Around £700bn of that has gone [...]
Galliford Try record revenue is good news for the UK housing market February 18, 2015 The figures It's another set of record numbers for Galliford. Pre-tax profits at the housebuilder were up 12 per cent to £42.5m in the six months to the end of December and revenue soared 35 per cent to more than £1bn. It reduced its net debt by £50m. The housebuilder has hiked its interim dividend to [...]
Another miss for London’s IPO market? Parkdean Resorts sold to Canadian private equity house December 18, 2016 A Canadian private equity house this weekend announced the acquisition of a UK caravan holiday parks operator, in a deal that could be seen as another loss for London’s flotation market. Toronto-based Onex Corporation has agreed a £1.35bn deal for Parkdean Resorts, which is currently owned by Epiris, formerly known as Electra, and Alchemy. The [...]
Why solving the country’s housing crisis means backing – not battering – landlords January 10, 2017 Politics is a strange world, and the year’s events (Trump, Brexit and elsewhere in Europe) are topsy-turvy. But I still find it strange that Britain’s best and most effective form of housing provision, the private rented sector, is coming under such consistent attack. Policies such as changes to the way landlords are taxed, the stamp duty [...]
Brexit vote boosts Hugo Boss January 16, 2017 Hugo Boss has staged a partial recovery thanks to a sales boost in Britain and China. The German fashion house said its operating profit for 2016 will fall less than expected due to a 20 per cent increase in like-for-like sales in China in the fourth quarter, and a two per cent increase in Europe, which was [...]
Theresa May’s Brexit plan must include Single Market objectives, say Labour December 7, 2016 Labour is laying out the characteristics of a Brexit plan in the House of Commons, calling on the government to reveal its hopes for Single Market status. MPs are debating a motion in parliament today calling on the government to reveal its plans for negotiations with the EU, and the government has lent its support [...]
House prices in this London borough fell by £3,000 a day last month October 24, 2016 UK house prices might be marching ever upwards, but there's one section of the UK where growth is faltering: the top end of London's market. In recent months growth in so-called prime central London has faltered, partly thanks to the Brexit vote and partly thanks to waning interest from foreign buyers. Now analysis of Land [...]
It’s May way or the Highway: Prime Minister Theresa May confirms UK will seek bespoke Brexit deal January 18, 2017 Prime Minister Theresa May laid out her plan for life outside the Single Market yesterday, warning Brussels that she will walk away from negotiations if the EU seeks to damage the UK by blocking a free trade deal. While May’s threat sent jitters through the City, business groups were heartened to hear the PM promise [...]