The financial sector jobs boom is spreading across the UK November 23, 2015 The jobs boom that has engulfed the capital and its financial sector is now on its way to other regions of the country, according to new figures released this morning. The number of permanent opportunities for professional roles was up six per cent in October compared with the same month last year, data from the Association of [...]
UK’s anti-money laundering controls are not fit for purpose, allowing billions of pounds of dirty money to seep into the country every year November 23, 2015 The UK’s anti-money laundering (AML) safeguards are not fit for purpose and require a radical overhaul, a report released today has found. According to the study by Transparency International UK (TI-UK) , the current system, which involves 22 different organisations across a range of sectors having some degree of responsibility for supervising and enforcing the [...]
Autumn Statement 2015: Scrap the spending cuts ringfence, say the Institute of Economic Affairs and Taxpayers’ Alliance November 23, 2015 The government's decision to ringfence certain areas of spending means this week’s Comprehensive Spending Review is likely to be “incoherent and incomprehensive”, a prominent Westminster think tank has said today. The Institute of Economic Affairs (IEA) said that because 70 per cent of government spending is protected, or ringfenced, cuts risk being made in the [...]
Small business confidence hits second-lowest level since 2012 November 23, 2015 Confidence levels at UK small and medium-sized businesses are waning, according to new survey figures published today. The confidence index from accountants BDO dropped to a score of 61.8 this month from 64.3 six months ago. With the exception of January this year, the confidence of small and medium-sized quoted companies is at its lowest [...]
The global tax report 2015 by Knight Frank and EY: Shanghai and Monaco are where foreign investors are offered the lowest property costs and taxation November 21, 2015 International investors buying foreign property can get the lowest costs in Shanghai, according to a new report. However, it's Monaco that offers the lowest taxation when purchasing a property at both $1m and $10m (£7m). The slowing rate of property price growth in many cities worldwide has made transaction costs and taxation increasingly important factors for buyers. The global tax report 2015 [...]
Greek debt crisis: Final decision to unlock more cash due on Monday when the European Stability Mechanism board meets November 21, 2015 Remember the Greek debt crisis? While the country's cash flow problems made headlines earlier this year, things have simmered down since then. Now Greece is awaiting a final decision, likely to come on Monday, paving the way for the disbursement of the next tranche of loans, as Eurozone finance ministers neared an agreement yesterday. To receive the money, [...]
UK home building nearly half the value of all construction contracts in October November 20, 2015 Housing construction comprised nearly half the value of all UK building contracts in October, totalling £3.7bn, according to the latest Economic & Construct ion Market Review from industry analysts Barbour ABI. Overall for October, the value of residential projects is the highest since Barbour ABI started tracking the series. This has been helped by a [...]
UK government borrowing for October worst in six years ahead of Autumn Statement November 20, 2015 UK government borrowing figures for October were the worst in six years, providing a potential hindrance to the government's plans to whittle down the deficit. The Office for National Statistics today said public sector net borrowing, excluding banks, rose to £8.2bn in October from £7.1bn a year earlier. This significantly overshot economists' expectations for it to fall [...]
Fill up like it’s 2009: Petrol could dip under £1 a litre, says RAC November 20, 2015 Prices at the pump could soon be back at 2009 levels, with the RAC predicting petrol is on course to drop under £1 a litre. Speaking on the BBC's Today show this morning, RAC chief engineer David Bizley suggested that a "lag" in the system would mean that recent drops in the wholesale fuel price [...]
South east and London: These regions feel most confident about house price growth according to Knight Frank and Markit Economics November 20, 2015 Homeowners in the south east and London think they're sitting on the property equivalent of a gold mine. The Knight Frank and Markit Economics house price sentiment index (HPSI) showed that those in the south east expect the biggest rise in their value of their homes over the next year, followed by Londoners. In fact, expectations for house price [...]