This Budget was a masterclass in dishonesty and manipulation October 31, 2018 So what was it? A cautious Budget? An astute Budget? A get-me-through-the-day Budget? Did you feel the earth move – or the need to change your financial affairs, for better or worse? Was there more than a zzzzz from the markets? It certainly was not the tax reform Budget that our economy desperately needs to put [...]
Hammond has taken the first tentative steps towards fixing the housing crisis October 31, 2018 How do you solve the housing crisis in a single Budget? You can’t, of course – not with Brexit looming and a Prime Minister demanding that you both signal the end of austerity and reduce the UK’s national debt at the same time. But housing policy is the one single issue that personally and radically [...]
Asian legal giant King & Wood Mallesons positioning itself for post-Brexit trade with China as it rebuilds in London October 30, 2018 Asian legal giant King & Wood Mallesons (KWM) is betting on post-Brexit trade with China and Australia as it rebuilds in London following the collapse of its European arm in January 2017. The firm’s London managing partner Darren Roiser said: “Given the nature of our client base and the fact we want to be building [...]
UK and Norway will give each other’s citizens the right to remain after Brexit October 30, 2018 British citizens in Norway and Norwegian citizens in the UK will have the right to remain post-Brexit, their governments said today. Erna Solberg, Prime Minister of Norway, said: “Prime Minister May and I agreed that Norway and UK will put in place a comprehensive citizens rights’ agreement. We will treat all UK citizens living in Norway [...]
EU says European firms can still use UK clearing houses in no-deal Brexit October 30, 2018 EU banks and companies will be able to access UK clearing houses for a limited time in the case of a no-deal Brexit, it has been confirmed. Valdis Dombrovskis, vice-president of the European Commission, made the pledge after months of lobbying from companies urging for the rules stopping them using the institutions if the Brexit [...]
Prime Minister rules out another general election after ‘giveaway’ Budget October 30, 2018 Prime Minister Theresa May and chancellor Philip Hammond today ruled out another UK general election a day after revealing what has been dubbed a "giveaway" Budget. May told a press conference in Oslo: "No. We are not preparing for another general election. That would not be in the national interest." Being interviewed on Good Morning [...]
Bentley could halt production after ‘damaging’ no-deal Brexit October 30, 2018 A no-deal Brexit could be “quite damaging” for Bentley’s annual profit, and may force it to close stop production for a few days, the company’s chief executive said today. Adrian Hallmark said his firm is already stockpiling parts and switching some imports from the port of Dover to Immingham. The carmaker could consider more contingencies [...]
This Budget balancing act was Hammond’s mission impossible October 30, 2018 As he stood up to deliver his Autumn Budget yesterday, the chancellor was to fulfil two promises which the Prime Minister had made at the Conservative party conference earlier this month: end austerity, while still reducing public debt as a share of GDP. Fulfilling these pledges will take time, and more details will be unveiled [...]
Philip Hammond chooses to splash the cash in his Budget rather than pay down the deficit October 29, 2018 Chancellor Philip Hammond declared “austerity is coming to an end” as he unveiled a raft of spending increases and tax cuts on Monday. Hammond used better-than-expected tax revenues of £12bn to pour extra cash into the NHS and bring forward by a year an increase in the 40p tax threshold to £50,000. The new level will [...]
As populism replaces pragmatism, Angela Merkel exits the political stage October 29, 2018 While others in Europe were losing their heads, it seemed Merkel was just about keeping hold of hers. Brexit, the rise of the far right in eastern Europe, the economic turmoil threatening to engulf Italy – while this storm swelled on Germany’s borders, Merkel was just about finding shelter. However, since 2015 the long-serving Chancellor [...]