UK government strips guarantees on £400m loans paid by Greensill Capital July 18, 2022 The UK government has pulled back guarantees on £400m worth of loans paid out by collapsed financier Greensill Capital to companies linked to steel magnate Sanjeev Gupta. The withdrawal comes after the British Business Bank (BBB) – the UK’s state-owned development bank – in 2020 guaranteed £400m worth loans, given by Greensill, to companies owned [...]
Government slammed as ‘for NIMBYs, by NIMBYs’ as planning reform watered down May 10, 2022 The government has been criticised after references to planning reform focused on “minor and trivial issues” in the Queen’s Speech. Property bosses and campaigners have urged ministers to go further with planning reforms. The Institute of Economic Affairs (IEA) accused the government of having “unconditionally surrendered to the NIMBYs.” “The fact that the references to [...]
The government’s corporate audits reforms are lukewarm at best, shallow at worst June 13, 2022 In late May, the government gave more detail on how it plans to reform big corporate audits. Inappropriate audits have contributed to several significant corporate failures – including that of the late construction giant Carillion in 2018. The government has acknowledged this, producing a report which has since been the focus of a consultation. The [...]
Energy UK calls on Government to offer loans to businesses facing ultra-high bills August 18, 2022 Energy UK has called for the Government to work with industry and financial institutions, and bring in a deficit tariff scheme.
London’s FTSE 100 bumps higher after government halves firms’ energy bills September 21, 2022 London’s FTSE 100 bumped higher today as investors digest the details of the government’s energy support package for UK businesses. The capital’s premier index climbed 0.63 per cent to 7,237.64 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, rose 1.01 per cent to 18,714.67 [...]
Brits to receive first cost of living payments from government starting today July 14, 2022 Eight million Brits will begin receiving payments to help with the cost of living crisis on Thursday.. Direct payments will be automatically made into recipients’ bank, building society or credit union account, for low-income households on means-tested benefits. The first payment, referred to as the DWP Cost of Living payment, will consist of £326 and [...]
Government says it will not review VAT for EV public chargers March 31, 2022 The UK Government announced today it will not review the VAT rate for electric vehicle (EV) charging points despite stakeholders calling for a policy change. “VAT makes a significant contribution towards the public finances, raising around £130bn in 2019/20, and helps fund the government’s priorities including the NHS, schools and defence,” said Exchequer secretary Helen [...]
Covid test maker’s shares sink as CEO warns of losses over spat with Government August 15, 2022 Covid-19 test provider Abingdon Health’s shares have plunged today as bosses warn losses related to “resolving the lack of payment” by the Government’s Department of Health and Social Care (DHSC). Boss of London-listed rapid test manufacturer Chris Yates said today that the full-year results were “disappointing in many respects, particularly the distraction of the [...]
Government bans services exports to Russia – but UK lawyers excluded May 4, 2022 Ministers have announced a ban on services exports to Russia, including management consulting, accounting and public relations but excluding legal professions. In the latest tranche of sanctions from foreign secretary Liz Truss, Russian businesses will no longer be able to do businesses with UK professional services firms. Many businesses have already cut connections with the [...]
Government’s ambitious planning reforms to be watered down September 11, 2021 Planning reforms that were designed to boost homebuilding are set to watered down by the Government, according to various reports this morning. With a target of building 300,000 new homes a year in England, ministers had said they wanted to overhaul the planning system, arguing reforms would boost the building of high-quality, sustainable homes, by [...]