It’s pure rubbish to claim a low tax, low regulation Britain would be a disaster March 1, 2017 Dame Minouche Shafik, deputy governor of the Bank of England, is leaving to become director of the London School of Economics. Last weekend, she gave her final interview wearing her Bank hat. Shafik issued what was described in the media as a “thinly-veiled warning” to the chancellor Philip Hammond. She stated that it was an [...]
Don’t fear a jobs apocalypse: The UK economy is already adapting well to automation March 1, 2017 The Hollywood vision of a jobless, authoritarian future has the super-rich minority living forever and the rest of the population in dangerous poverty, not able to do anything of interest or value. Possibly in response to this, we regularly hear scare stories from some politicians (for example Nick Clegg in the Evening Standard earlier this [...]
Should Ukip just dissolve itself? March 1, 2017 Rachel Cunliffe, deputy editor of Reaction, says Yes. Ukip had two things holding it together: a cast-iron raison d’être and Nigel Farage. Now both are gone. Demonise Farage all you want, but the sheer force of his personality got him not only on the political map but centre stage. His combination of controversy and charisma [...]
Food prices are increasing at the fastest rate for two and a half years March 1, 2017 Food prices are increasing at the fastest rate for two and a half years as the fall in the value of sterling has forced supermarkets to pass on some of their costs to shoppers. Prices for food rose 0.4 per cent year-on-year in February, according to figures from Nielsen and the British Retail Consortium (BRC). [...]
Green Investment Bank privatisation hits a legal snag as the rival bidder to Macquarie seeks a judicial review March 1, 2017 THE GOVERNMENT’S decision to award preferred bidder status to Australia’s Macquarie in the long-running privatisation of the Green Investment Bank (GIB) is being challenged in the high court. Sustainable Development Capital (SDCL), a UK-based international consortium, has launched proceedings in the High Court for judicial review of the decision. SDCL believes that the preferred bidder’s [...]
UK car manufacturers eye international opportunities though Brexit jitters remain March 1, 2017 The UK car industry is "cautiously optimistic" about the future, though Britain's exit from the European Union is still seen as the biggest threat to the sector. Lloyds Bank's third annual survey of the sector found that average investment over the next couple of years is due to stay steady at 19 per cent of turnover, [...]
Britons taking the day off work cost the economy £18bn every year March 1, 2017 People taking days off work cost the UK economy billions every year, with the toll to rise considerably over the next decade, a new study has found. Absences from work account for £18bn in lost productivity every year, according to the Centre for Economic and Business Research (CEBR) – a figure which could swell to £26bn [...]
Nissan asks government for £100m supply chain fund after Brexit February 28, 2017 A top Nissan executive has said the government must step in with millions of pounds of investments in the car parts industry in the UK if it is to continue to manufacture cars at its Sunderland plant. Colin Lawther, a senior vice president in charge of manufacturing at Nissan, said the manufacturer will “review constantly” [...]
Brexit secretary David Davis says UK must prepare for chance of no deal with the EU February 28, 2017 Brexit secretary David Davis has told cabinet ministers to prepare for the possibility of the UK not reaching a deal with the EU after leaving the EU. Davis described the UK leaving the EU without a trade deal as an “unlikely scenario” but warned the UK must prepare for the failure to negotiate a deal, [...]
Deputy governor of the Bank of England Ben Broadbent appointed by Mark Carney as member of Prudential Regulation Committee board February 28, 2017 Ben Broadbent, the Bank of England deputy governor responsible for monetary policy, including monetary analysis and notes, has been appointed by governor Mark Carney, to take a seat on the influential Prudential Regulation Authority (PRA) board. The appointment is in conjunction with structural reform of the Bank’s governance, following the breakup of the former Financial [...]