Hammond says landlords should pay letting agents fees November 23, 2016 Landlords should pay letting agents fees, chancellor Philip Hammond said in his first Autumn Statement today. "We’ve seen these fees spiral despite our attempts to regulate them," Hammond said, confirming that the government will ban letting agents fees. Read more: Hammond pledges more than £1bn for broadband and 5G “I can announce today that we [...]
Philip Hammond has gifted Britain a third decade of gross fiscal irresponsibility November 23, 2016 If it ever truly began, it really does look like the era of austerity is over. After the savage cuts of George Osborne’s days, when current spending was slashed by an eye watering 0.2 per cent, Philip Hammond has decided enough is enough. The borrowing forecasts from yesterday’s Autumn Statement were diabolical. A surplus is now not [...]
Chancellor Philip Hammond is to announce a £1bn splurge on the UK’s broadband technology November 22, 2016 Chancellor Philip Hammond will announce more than £1bn of investment for the UK's broadband infrastructure tomorrow. Hammond will make the announcement as part of Wednesday's Autumn Statement, pledging cash towards upgrading existing services and trials of new technology. £400m of the funding will go towards existing fibre broadband providers looking to improve the quality of [...]
UK government borrowing for October worst in six years ahead of Autumn Statement November 20, 2015 UK government borrowing figures for October were the worst in six years, providing a potential hindrance to the government's plans to whittle down the deficit. The Office for National Statistics today said public sector net borrowing, excluding banks, rose to £8.2bn in October from £7.1bn a year earlier. This significantly overshot economists' expectations for it to fall [...]
Here’s what UK tech thinks of the £400m promised for VC startup investment November 23, 2016 Startups are set for a boost from the chancellor's Autumn Statement, as Philip Hammond announced plans to plough £400m into venture capital. The funds will come via the British Business Bank and it's expected to unlock as much as £1bn for startups itching to scale up as it will encourage private investment. Of particular focus will [...]
BAT’s vaping robots find e-cigarettes don’t deliver as much nicotine as traditional smokes December 9, 2016 Vaping robots are testing British American Tobacco’s electronic cigarettes to find out how nicotine and vapour delivery to lung cells compare to traditional cigarettes. Dr James Murphy, head of risk substantiation at BAT, said the company had to be sure that other tests weren’t just saying e-cigarette vapour had a reduced impact because it was [...]
Theresa May announces extra £170m for technical education ahead of Brexit industrial strategy launch January 21, 2017 The government has announced a new injection of cash into technical education as part of her plan for an industrial strategy for the UK as it leaves the EU. Prime Minister Theresa May will launch the £170m in new funding when she unveils a Green Paper consultation on the industrial strategy during a trip to [...]
Digital challenger bank Monese lands $10m January 3, 2017 One of the UK's up-and-coming digital challenger banks has landed a new round of funding from investors to expand to Europe. Monese has raised $10m (£8.2m) in series A funding from Anthemis Exponential Ventures, Korea Investment Partners and STE Capital. It follows on from a $1.8m in the summer of 2015 from Seedcamp, SmartCap along with entrepreneur and [...]
Tax set to rise to highest share of UK income in over 30 years as austerity continues to bite according to Institute for Fiscal Studies February 7, 2017 The amount of tax we pay will rise to the highest proportion of the UK’s national income in over 30 years, according to an analysis by an influential group of economists. The government plans to raise taxes by £17bn over the course of this Parliament relative to 2015-16, according to the Institute for Fiscal Studies [...]
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 [...]