Our overly centralised tax system has exacerbated the business rates debacle February 22, 2017 Business rates may not be the most captivating subject for most City A.M. readers. But the impact of a delayed revaluation on our shops, pubs and cafes might well be. Changes affecting the £25bn a year tax that ultimately goes to pay for social care, schools, Tube trains and roads are due to come into [...]
As Jean-Claude Juncker re-emphasises that Britain faces a “hefty” Brexit bill, should we pay it? February 22, 2017 Jonathan Portes, professor of economics and public policy at King’s College London, says Yes. Why is this even a question? The bulk of the “bill” relates to accrued pension liabilities of EU civil servants – pensions they earned while working for us. We – the UK public, via our democratically elected government – hired them, [...]
Labour vows to fight for a “manufacturing renaissance” in Brexit February 22, 2017 Shadow chancellor John McDonnell will today vow to put the UK's manufacturers at the heart of Labour's Brexit planning. Speaking at the national conference of manufacturer's association EEF in London, McDonnell will promise to develop a “British Mittelstand”, in reference to the mid-sized businesses sometimes held up as the core of Europe's economy. The shadow chancellor [...]
“Skills gulf” means Britain will need to recruit one worker every 77 seconds to meet construction needs February 22, 2017 The UK needs to recruit 400,000 people each year until 2021, or one worker every 77 seconds, if it's to meet house building and construction needs. And London and the South East will need to employ 110,000 people, more than any other part of the UK, making up nearly 30 per cent of the total. A [...]
UK boosts position as largest investor in India as the government looks to step up trade deals outside Europe February 22, 2017 The UK boosted its position as the largest foreign investor in India among the G20 group of the richest nations, according to a new report, as the government looks to boost trade ties with the largest Commonwealth nation. Investment increased by $1.87bn (£1.5bn) over the course of 2016, according to a report by the Confederation of [...]
Uncertainty named as top challenge for UK employers ahead of triggering of Article 50 February 22, 2017 Uncertainty around the economy and politics has been cited as the top concern by British businesses despite a tightening labour market, according to a new poll. Over a third of UK businesses cited uncertainty as the main challenge to trading, according to the Recruitment and Employment Confederation (REC), ahead of the government's planned triggering of [...]
Brexit vacuum must be avoided, as new report warns of a second cliff edge scenario February 22, 2017 Businesses could find themselves launched off of a cliff edge and into a Brexit vacuum if the government does not line up its transition period with care. The Institute of Directors (IoD) is warning the UK will likely need longer than the two-year Article 50 process to negotiate both an EU exit agreement and a [...]
Wall Street rally continues as US stocks reach fresh record highs February 21, 2017 US stocks hit new record highs off the back of strong earnings from retail giants Wal-Mart and Home Depot, as well as optimism over the economic plans of President Donald Trump. Wal-Mart's shares increased more than any other in the Dow Jones Industrial Average, rising 3 per cent after it reported higher-than-expected US sales. Home Depot shares gained [...]
Lib Dem leader Farron to demand a fresh industrial revolution led by a new Green Investment Bank February 21, 2017 Liberal Democrat leader Tim Farron is to call for the government to create a new Green Investment Bank in a speech demanding a new industrial revolution. Speaking in Central London tomorrow, Farron will outline plans for a new “Victorian” era of building, warning that Britain risks being “surpassed and relegated” without action. The Lib Dems are [...]
Property groups warn £20bn of development finance at risk from government’s finance bill February 21, 2017 The property industry is calling on the government to change its finance bill, warning that measures to clampdown on multinational tax avoidance will also put £20bn of finance for UK developments at risk. The UK government is cracking down on tax avoidance in its annual finance bill by limiting companies claiming interest as a tax-deductable [...]