Former Conservative chancellor Lord Lawson calls for corporate tax reform in the wake of Google row January 30, 2016 A former Conservative chancellor has urged the government to ditch corporation tax which he says has "had its day", weighing in on an increasingly heated row over tech giant Google's arrangement in the UK. Lord Lawson, who was part of the Thatcher government from 1983 to 1989, said that the government should instead tax a company's sales. "It is [...]
Ex-Treasury minister Jim O’Neill hits out over “disappointing” Autumn Statement November 30, 2016 Former Treasury minister and Goldman Sachs banker Lord Jim O'Neill has hit out over last week's Autumn Statement, branding chancellor Philip Hammond's performance as “disappointing”. Speaking for the first time as a crossbench peer in the House of Lords, O'Neill yesterday lamented a “lack of new or additional initiatives” from Hammond. O'Neill focused on devolution [...]
Bar Standards Board gains approval to license Alternative Business Structures March 30, 2016 Legal eagles, here's an acronym game to entertain you on your commute home: LSB BSB ABS OMG! For those who require a more detailed explanation, the Legal Services Board (LSB) has today approved the Bar Standards Board's (BSB) application to become a licensing authority for alternative business structures (ABS). An ABS, which were introduced under the Legal Services [...]
The chancellor’s economic programme contains much the City should welcome November 28, 2016 The chancellor stepped up to the despatch box last week to make his most important speech since taking office in July. Where previously the Autumn Statement was an important political date on the calendar for UK media, it had gone largely unnoticed by the European press. This year, however, was different. Philip Hammond’s address was [...]
Top EU envoy Valdis Dombrovskis jets into town for talks with chancellor and City chiefs February 8, 2017 One of the EU's top commissioners jets into London this morning for a whirlwind pre-Brexit tour of the capital, telling City A.M. that a future deal on financial services must "work for all". Valdis Dombrovskis, vice president in charge of financial services, said the European Commission would not set out to “punish” the UK during [...]
Nimbyism in decline as housing shortage bites February 2, 2017 The construction of new homes is now a top five priority for voters, with increasing numbers of people willing to support housing projects in their local area. A report by the Centre for Policy Studies, a think tank, suggests attitudes to new builds have changed dramatically over the last ten years. Citing a British Social [...]
Banks now one of the biggest threats to the European Union, says former chancellor September 27, 2016 Europe's banks now pose one of the greatest threats to the future of the European Union, a former chancellor of the exchequer has said today. Speaking at the Institute of Directors (IoD) Annual Convention, Lord Lamont of Lerwick remarked: "There are many, many crises which are potentially very dangerous for the EU" before adding "the biggest threat to [...]
Here we go again: Sterling falls as markets show their nerves ahead of Carney meeting October 25, 2016 It seems markets' nerves have become too much to bear ahead of an appearance by Mark Carney before a committee in the House of Lords later today – while the chancellor didn't give them much cause for confidence. The pound fell 1.1 per cent against the dollar, to $1.2009, in mid-afternoon trading – its lowest since the so-called flash crash [...]
EU Parliament’s Brexit negotiator Guy Verhofstadt says transitional deal must not be “eternal” December 13, 2016 A time limit is “necessary” on any transitional deal for UK businesses while the Brexit process is completed, according to the European Parliament’s chief negotiator. Guy Verhofstadt said: “I have seen many times in politics that a so-called transitional agreement becomes an eternal or definitive agreement, so that has to be avoided.” Speaking to the BBC, [...]
Chancellor Philip Hammond has revealed the date for his Autumn Statement September 8, 2016 Chancellor Philip Hammond has revealed the date for the first major fiscal event of Theresa May's government, with the Autumn Statement now set for 23 November. Speaking in front of a House of Lords committee today, Hammond said: "The Autumn Statement will set out the government's economic and fiscal plans based on the latest forecasts from the [...]