DEBATE: Should the chancellor bend the fiscal rules to increase spending in his first Budget? March 10, 2020 Should the chancellor bend the fiscal rules to increase spending in his first Budget? Will Tanner, director of Onward, says YES. It is the prerogative of a twenty-first century chancellor to set the rules of your own tenure. Gordon Brown, George Osborne, Philip Hammond and Sajid Javid (who never delivered a Budget) all established the [...]
Small Budget tweaks could give startups big improvements in access to cash March 10, 2020 Britain’s small business funding picture is mixed. The good news is that, while access to traditional bank loans has been limited since the financial crisis, founders have undoubtedly benefited from the rise of alternative finance. Over £2bn is now lent through peer-to-peer lenders and close to 400 equity crowdfunding deals take place in the UK [...]
SME group calls for next London mayor to lobby for business rates reform March 10, 2020 The next mayor of London should focus their energies on improving renting conditions for businesses and lobbying the Treasury for rates reform, according to a leading business advocacy group. The Federation of Small Business’ (FSB) mayoral manifesto, released today, calls on the next mayor to pressure “major landowners” to sign on to a “supportive small [...]
Global stocks plunge amid oil crash and coronavirus outbreak March 9, 2020 Global stock markets plunged today as a crash in oil prices and the rapid spread of coronavirus caused panic to set in on trading floors around the world. The UK’s FTSE 100 slumped 7.7 per cent in its biggest one-day fall since the 2008 financial crisis. The rout wiped £125bn off the value of the [...]
Coronavirus: Milan among cities quarantined in mass Italian lockdown March 9, 2020 Italy took the extraordinary step yesterday of quarantining 16m people in one of the country’s most prosperous regions as it ramped up its battle to halt the spread of Coronavirus. All 10m people from the region of Lombardy, including Italy’s financial capital Milan, have been placed into lockdown until 3 April, along with cities including Venice, Padua, Modena, Piacenza, Reggio Emilia and [...]
UK small businesses gloomy about coronavirus and Brexit March 9, 2020 Worries over the impact of Brexit and coronavirus mean more than 70 per cent of the UK’s small and medium-sized businesses do not expect the country’s economy to grow during the rest of 2020, according to new survey data. The pessimism about growth means firms 57 per cent of firms are unlikely to invest in [...]
Mobile networks reach compromise over rural mast-sharing plans March 8, 2020 The UK’s mobile networks have signed off on a deal to banish so-called signal not spots in rural areas, despite squabbling over how to split the costs of the venture. Chancellor Rishi Sunak is set to unveil the £1bn agreement in the Budget on Wednesday as part of a plan to improve 4G coverage across [...]
London broadband firm G Network eyes bumper funding boost March 8, 2020 London full-fibre broadband firm G Network is said to be seeking a huge funding boost as network providers race to roll out superfast internet connections across the UK. G Network, which targets affluent central London postcodes including Mayfair, Marylebone and Chelsea, has reportedly hired bankers from Rothschild to locate new funds over the coming months. [...]
Coronavirus: Number of UK cases rises to 273 March 8, 2020 The number of cases of coronavirus in the UK has risen to 273, the Department of Health and Social Care has announced, up from 209 yesterday. In a tweet, it said that 23,513 people have been tested for the virus so far, with two of those who tested positive having died so far. London has [...]
Number 10 mulls over tax on over-40s to cover social care costs March 8, 2020 Plans are being considered by the government to implement a new tax on over-40s to help fund their own old age care. The new plan, reportedly being pushed by health secretary Matt Hancock, would see workers over the age of 40 pay 2.5 per cent of their income to pay for their future old age [...]