Autumn Statement 2015: London’s public servants have nothing to fear from departmental cuts November 25, 2015 Spending cuts mean job cuts, hundreds of thousands of them. 450,000 people have lost their job since the public sector workforce peaked at 5.7 million back in 2009. George Osborne’s spending plans suggest a similar number will go by 2020. So it’s perfectly understandable for London’s public servants to feel a little nervous about the [...]
Autumn Statement 2015: Business rates regime scrapped by chancellor George Osborne in “revolutionary” move November 25, 2015 George Osborne has delivered a much-needed fillip to struggling town centres and bricks and mortar retailers by abolishing uniform business rates. Under plans announced during the Autumn Statement today, the much-hated regime will be ditched in favour of letting councils decide whether to cut rates to make their town centres "more attractive to businesses". "Elected [...]
Autumn Statement 2015: Chancellor George Osborne should beware – the UK is not out of the woods yet November 24, 2015 At the Autumn Statement today, George Osborne will have good reason to cheer his economic record. In a number of areas, the UK economy appears to be rebalancing towards a more sustainable course. GDP growth has remained robust, with output rising at the highest rate in the G7 last year. Unemployment continues to plummet [...]
Changes to agency contracts could push out temporary Transport for London workers January 24, 2017 Transport for London (TfL) is set for a backlash against its plans to stop using temporary workers who operate through limited companies. Critics have said the plan will deprive TfL of talent in key areas, with the potential to throw crucial engineering projects off track. TfL has contacted over 2,000 agency staff asking them to sign [...]
It’s official: The pound’s fall is set to raise inflation way above target in the next few years November 23, 2016 The UK’s rate of inflation will grow faster than previously predicted, according to new government forecasts. The Consumer Price Index (CPI),the main measure of UK inflation, will rise to 2.3 per cent in 2017, according to new figures from the Office for Budget Responsibility. The figures were released today alongside chancellor Philip Hammond’s first Autumn [...]
UK fintech pushes for its very own “Big Bang” moment November 1, 2016 The UK’s world leading fintech industry will this week meet with top government officials seeking to spark another “Big Bang” moment, the first of which kicked off the making of the City as a global financial powerhouse. Leaders in the industry will head to Westminster where several meetings with treasury and trade officials are on [...]
Budget 2017: The full text of chancellor Philip Hammond’s speech March 8, 2017 Philip Hammond has delivered his first – and last – Spring Budget. Headline announcements included more cash for social care and punishing new rules for the self-employed – plus some vague comments on business rates. Read more: City A.M.'s TL;DR version of the Spring 2017 Budget Here's what he said: Mr Deputy Speaker, I report [...]
The UK government’s deficit reaches lowest year-to-date since financial crisis but misses expectations February 21, 2017 Government borrowing recorded the biggest January surplus since 2000 and its lowest year-to-date reading since the financial crisis ahead of chancellor Philip Hammond’s first Budget on 8 March, despite a lower-than-expected monthly surplus. With tax receipts in January traditionally far higher than every other month as self-assessment returns come in, the January surplus of £9.4bn [...]
Attention turns to final borrowing figures ahead of Autumn Statement and Comprehensive Spending Review November 15, 2015 NULL
Brexit fears send profits plummeting at Walkers Crips as growth spending drives revenue down November 21, 2016 Wealth investment company Walkers Crips reported a massive drop in profit in the first half of its financial year as the Brexit vote continues to keep companies guessing about the future. Pretax profit fell by 91 per cent to £53,000 from £589,000 in the six months to the end of September. Revenue dropped to £13.2m from [...]