Brexit job losses would have “severe” consequences for the British Budget says Institute for Fiscal Studies March 14, 2018 Job moves from the UK to the EU after Brexit would be a disaster for the public finances, according to the respected Institute for Fiscal Studies (IFS). Paul Johnson, director of the IFS, said: "If high-paid jobs and EU citizens, who are well represented among high earners in the UK, relocate elsewhere the consequences for [...]
Canada finance minister: UK and Canada should aim for better trade deal than Ceta March 12, 2018 Canada and the UK should aim for a post-Brexit trade deal which is better than the current arrangement, according to finance minister Bill Morneau. Morneau said the deal agreed in late 2016 with the EU, the Comprehensive Economic and Trade Agreement (Ceta), will be the model for “replication” with the UK once it leaves, but [...]
The UK’s export economy is at its strongest point since 2000 March 7, 2018 UK exports are at their strongest position since 2000 despite threats posed by Brexit, a report by Heathrow Airport and the Centre for Economics and Business Research (CEBR) has found. Heathrow's export climate index tracks factors including the consumer confidence of the UK's main trade partners by their share of UK exports; effective exchange rate [...]
Bank of England set to hold rates on Super Thursday February 5, 2018 The Bank of England is set to hold interest rates at 0.5 per cent on Thursday, but rate rises are forecast for later in the year. The bank’s Monetary Policy Committee (MPC) will vote on the rate on so-called Super Thursday, when the bank will also release its quarterly inflation report and release the minutes [...]
The warning lights for the next economic crisis are starting to flash January 25, 2018 The global economic zeitgeist has shifted. A decade on from the financial crisis, the world economy can at last see over the hill and make out the features of the “Promised Land” called normalisation. There is a palpable sense that the world economy has crossed three important lines. First, that it is finally achieving synchronised [...]
London house prices dragged down by Zones 2 and 3 says Rightmove data January 15, 2018 The price of London homes coming to market fell sharply over the last year, as properties in Zones 2 and 3 slumped, according to new data to be published today. Homes brought to market in the capital are now an average of £21,000 cheaper, a 3.5 per cent fall over the last year, according to [...]
Consumer debt growth is not a new subprime bubble say FCA and Bank of England economists January 8, 2018 The recent surge in consumer lending to record levels will not be a rerun of the subprime borrowing bubble that crippled the world’s financial system in 2008, according to new research by City watchdogs. Credit growth is not being driven by the borrowers rated as most likely to default, according to a joint article published [...]
Indian economy to overtake UK and France next year as march of Asian economies continues December 26, 2017 The surging Indian economy will overtake the UK and France during the course of 2018 to become the fifth largest in the world, according to forecasts published today. Continued booming growth in India will contribute towards a rapid reorientation of the world’s economy towards Asia over the next 15 years, according to the research by [...]
Autumn Budget 2017: Hammond changes corporate capital gains tax rules November 22, 2017 Corporation tax was maintained at 19 per cent in today's budget, however, the chancellor announced chances to the way companies' chargeable gains are calculated. The corporate indexation allowance allows for the effects of inflation when calculating the chargeable gains of companies or organisations. Philip Hammond announced today that the indexation allowance will be frozen from [...]
Autumn Budget 2017: Chancellor Philip Hammond’s speech in full November 22, 2017 You can read the chancellor's Budget speech in full here: Mr Deputy Speaker I report today on an economy that continues to grow, continues to create more jobs than ever before and continues to confound those who seek to talk it down. An economy set on a path to a new relationship with our European [...]