Liz Truss allies set to publish ‘growth budget’ days ahead of autumn statement October 15, 2023 Liz Truss allies are set to publish their so-called ‘growth budget’ just days ahead of Jeremy Hunt’s autumn statement. The former Prime Minister, who spent just 49 days in power, set up the Growth Commission after leaving Downing Street in a bid to challenge what she termed ‘Treasury orthodoxy’. Now the task force has announced [...]
Rishi Sunak breached MPs’ code of conduct by not declaring wife Akshata Murty’s shares August 24, 2023 Rishi Sunak broke the MPs’ code of conduct by failing to correctly declare his wife’s shares in a childminding company, the Commons’ standards commissioner has said. Daniel Greenberg concluded the breach arose out of the prime minister’s “confusion” around the rules on declaration, and decided to close the inquiry without the need for further action. [...]
Truss suggests mini-budget may have paid off in the long-term July 12, 2023 Liz Truss appeared to suggest her mini-budget may have paid off long-term as her new taskforce warned the UK risks lagging behind other nations unless it tackles stagnation. Britain’s shortest-serving prime minister likened sluggish growth in recent years to a “boiling a frog situation” as she attended an event to launch the Growth Commission. Members [...]
Watchdog extends investigation into PM’s declaration of interests April 24, 2023 Parliament’s standards watchdog has expanded the investigation into Rishi Sunak’s potential breach of the rules on declaring financial interests. The Prime Minister is also being investigated over whether he broke the MPs’ code of conduct relating to disclosing details surrounding active inquiries, it emerged on Monday. Standards commissioner Daniel Greenberg opened the inquiry following concerns [...]
Shrinking workforce limiting UK economic growth, MPs warn April 21, 2023 The UK’s shrinking and ageing population is limiting economic growth, with “outdated and static” working practices, MPs have warned. An “exodus” of over-50s from the labour market has worsened shortages, a cross-party House of Commons Business, Energy and Industrial Strategy (BEIS) committee report said. Chairman Darren Jones said: “Our shrinking and ageing UK labour market, and [...]
‘A breath of fresh air’ vs ‘more to do’: What City grandees have to say about Sunak April 17, 2023 As Labour leader Sir Keir Starmer doesn’t tire of reminding voters: expertise beyond politics can be invaluable. For the current resident behind that most famous front door, it’s so far proved an advantage. Liz Truss’ accountancy background may not have aided her short-lived leadership bout, but – for the City’s boardrooms at least – her [...]
Brits now more concerned about state of UK economy than before budget, polling finds March 20, 2023 More than a third of Brits surveyed say the budget last week made them more concerned about the state of the UK’s economy. Chancellor Jeremy Hunt unveiled his spring statement in the House of Commons last week in light of rosier economic projections and within the government’s self-imposed fiscal rules. He focused on childcare reforms, [...]
Pension pain: Savers who bought lifetime allowance ‘protection’ warned they may still find their tax-free lump sum capped March 17, 2023 Chancellor Jeremy Hunt’s decision to scrap the pension lifetime allowance (LTA) in Wednesday’s Spring Budget, was heralded as an incentive for wealthier employees over 50 to stay in the workforce. But some pensions experts say for those who took out a form of LTA protection may still have to watch they do not go over [...]
Recession off the cards, getting over 50s ‘back to work’, strikes and banks take stock – the five best read stories on City A.M. this week March 17, 2023 It was the week UK Chancellor Jeremy Hunt laid out his first Spring Budget, but as pension savers and taxpayers looked on, fears of a recession appeared to fade, although the sagas of banks Silicon Valley Bank, Credit Suisse and on-going strikes raged on; here are the stories readers were flocking to on City A.M. [...]
Jeremy Hunt tax hikes and weak economy to swipe £10k from Britons while wealthy reap pension rewards March 16, 2023 Britons are poised to miss out on £10,000 of income over the coming years after Chancellor Jeremy Hunt lifted taxes to their highest sustained level in history, experts have predicted. When combined with sluggish economic growth , the Institute for Fiscal Studies (IFS) has estimated that the tax take means real incomes will be at [...]