OBR financial report and government fiscal plan to be delivered on 31 October October 10, 2022 The UK’s spending and borrowing watchdog’s assessment of the government’s tax cutting splurge will be released on 31 October, chancellor Kwasi Kwarteng announced today. In a letter to Tory MP and chair of the treasury select committee, Mel Stride, Kwarteng said he has decided to bring the Office for Budget Responsibility’s (OBR) forecasts forward from [...]
DEAL DONE: Transport for London signs funding settlement with government August 30, 2022 Transport for London (TfL) has signed a long-term funding deal with central government to keep London moving until spring 2024. It comes after two years of fraught negotiations between the TfL and the government after passenger revenues fell due to the pandemic’s impact. The deal was signed off by Transport for London at a board [...]
Government repeals ‘1970s-style’ restrictions on strikebreakers July 21, 2022 Replacing striking staff with skilled agency workers will now be possible under the legal changes made by the UK Government. Approved by both Commons and Lords, the cross-sector changes will help ensure “crucial public services and people’s lives remain uninterrupted” by the strikes. The measure comes on the heels of a wave of industrial action [...]
Government lambasted for ‘half-baked’ food strategy June 11, 2022 The UK Government was lambasted for delivering a “half-baked” food strategy for England, with critics especially concerned about the apparent lack of a tax on sugar and salt. The plan was initially announced by cabinet minister Michael Gove in 2019 to make sure food was “safe, healthy and affordable,” for all. Gove appointed the co-founder [...]
Government borrowing: Another new debt record as interest hits July high making pre-election tax cuts unlikely August 22, 2023 The interest paid on government debt hit its highest July level on record as government borrowing continued to rise, albeit significantly less than expected.
Government commits £6bn for energy efficiency drive to ease record bills November 17, 2022 The Government has committed further funding for a nationwide drive to boost the energy efficiency of people's homes.
Wind farm developer threatens to sue UK government over plans for ‘windfall tax’ December 28, 2022 A Cheshire wind farm developer has threatened to sue the UK government over its plans to impose a ‘windfall tax’ on renewables companies. Community Windpower – which owns 1.5 GW of UK wind generation capacity – has said it will take legal action to block the UK’s Electricity Generator Levy. The temporary tax imposes a [...]
Beaverbrooks: We don’t expect government to solve all of firms’ problems November 16, 2022 A wedding “catch-up” boom post-pandemic has driven momentum for jeweller Beaverbrooks, its top boss told CityA.M. After the Covid-19 lockdowns saw many couples put plans to get hitched on hold, the easing of restrictions has seen a boom in plans for nuptials, driving ring sales, Anna Blackburn said. The pandemic spurred some couples to get [...]
Former Chancellor George Osborne ‘disappointed’ by government delay on junk food advert ban December 27, 2022 Former Chancellor George Osborne has said he would extend a sugar levy and dubbed it “disappointing” that marketing restrictions on junk food have not yet been introduced. The former Tory politician said it was “very disappointing” that restrictions on advertising food products with high fat, sugar or salt (HFSS) contents have been delayed. A ban [...]
BEIS break-up: New department will help government combat energy crisis, argue experts February 7, 2023 Experts say the break-up of BEIS and the emergence of a new energy department could improve government decision making.