UK keeps crown as best in Europe for financial services investment July 9, 2018 The UK has kept its crown as the top location in Europe for financial services investment, despite Brexit uncertainty causing projects to decline. In 2017, UK financial services brought in 78 foreign direct investment (FDI) projects, higher than any other country in Europe, although it was down from record levels of 106 the year before. [...]
Taxes are too high and too complicated – it’s time for urgent reform July 9, 2018 A week ago, this newspaper bemoaned the government's drift towards tax rises – and the lack of any proper low-tax Tories coming to the fore. Without a doubt, Jeremy Corbyn's Labour has shifted the Overton Window (the range of policies deemed acceptable by politicians) and the debate now largely concerns which taxes to raise and [...]
Bank of England bosses criticised for £390,000 expenses bill June 26, 2018 The expenses bills run up by two of the Bank of England's top officials were today described as "staggering" by an MP. The Bank employs multiple members of its financial policy committee (FPC), which seeks to protect financial stability, who live in America. The central banking bigwigs have run up big expenses bills. Simon Clarke, [...]
Central bankers warn of recession risk from ‘debt trap’ to global economy June 24, 2018 The global economy risks falling into a “debt trap” in developed markets and particularly in China, according to a warning issued today by an influential central banking body. The Bank for International Settlements (BIS) said nations must tread a “narrow path” to avert disaster in the next slowdown, in its annual report on the state [...]
Bank of England must hold interest rates and wait for signs of a rebound says shadow MPC June 20, 2018 City economists are all but certain the Bank of England will not announce a rise in interest rates tomorrow, with City A.M.’s shadow monetary policy committee (MPC) voting unanimously to hold fire. The Bank’s top economists have made it clear that they see rising upward pressures on wages, a key component of domestically generated inflation, [...]
DEBATE: Greece is the EU’s former problem child, but is it now finally out of the woods? June 20, 2018 Greece is the EU’s former problem child, but is it now finally out of the woods? Emiel van den Heiligenberg, head of asset allocation at Legal & General Asset Management, says YES. Greek GDP data for the first quarter brought good news: year-on-year growth has increased to 2.3 per cent, the strongest since mid-2008. That [...]
The NHS needs reform and automation, not a politically motivated bidding war June 19, 2018 It was the worst kept secret in Westminster, but we finally heard over the weekend that the NHS will receive a funding boost of around £20bn a year. As with public sector pay increases, the Conservatives perhaps feel that they have to loosen the purse strings a little, given the scare they got at the [...]
We are living longer – perhaps we should all be working longer too June 19, 2018 By the year 2030, it is estimated that there will be just 2.3 working age adults in the EU for every person over 65. The demographics of the developed world are changing, and policy is struggling to keep up. British people are living longer – and this is surely to be celebrated. But as life [...]
Bank of England to hold rates as weak economy spurs calls to boost business investment June 18, 2018 The Bank of England is expected to hold interest rates steady at its latest monetary policy meeting this week with debate raging among economists as to whether the UK economy is ready for another rate hike. The Bank’s monetary policy committee (MPC) meets this week before Thursday’s midday announcement, with doubts growing over whether interest [...]
NHS £20bn spending increase to require UK to ‘contribute a bit more’ says Prime Minister Theresa May June 17, 2018 The government will increase spending on the National Health Service (NHS) by more than £20bn by 2022, with firms and consumers “contributing a bit more”, likely through higher borrowing or tax rises. The increase in NHS England spending will be the equivalent of a 3.4 per cent increase per year in real terms, below the [...]