Budget 2017: Sterling recovers against the US dollar as markets react to chancellor Philip Hammond’s first Spring Budget March 8, 2017 Sterling recovered some of its losses against the US dollar in afternoon trading after chancellor Philip Hammond first Budget gave a relatively upbeat outlook of the UK economy. While borrowing this year is now forecast by the Office for Budget Responsibility (OBR) to be lower, Hammond revealed little in the way of big fiscal spending. [...]
Budget 2017: The full text of chancellor Philip Hammond’s speech March 8, 2017 Philip Hammond has delivered his first – and last – Spring Budget. Headline announcements included more cash for social care and punishing new rules for the self-employed – plus some vague comments on business rates. Read more: City A.M.'s TL;DR version of the Spring 2017 Budget Here's what he said: Mr Deputy Speaker, I report [...]
Tax free dividend allowance reduced from £5,000 to £2,000 two years after George Osborne scrapped the dividend tax credit March 8, 2017 Chancellor Philip Hammond has slashed the tax free dividend allowance from £5,000 to £2,000. The Treasury said the allowance was being shrunk so as to "reduce the tax differential between the self-employed and employed, and those working through a company, to raise revenue to invest in public services". It will "ensure that support for investors is [...]
Budget 2017: UK growth prospects upgraded by government’s forecaster March 8, 2017 The UK economy is set to grow much quicker than previously thought, according to the government's official forecaster, boosting chancellor Philip Hammond's efforts to cut public sector borrowing. The Office for Budget Responsibility (OBR) now forecasts growth of two per cent in 2017, chancellor Philip Hammond announced in his Spring Budget statement, while inflation is [...]
Chinese economy: China runs unexpected trade deficit for first time in three years as imports surge March 8, 2017 China recorded its first trade deficit in three years in February as imports in the world’s second largest economy surged. The balance of trade moved into a $9.15bn deficit during the month, according to China’s General Administration of Customs. Dollar-denominated imports jumped by almost 40 per cent year-on-year, to reach $129bn, more than doubling the [...]
LIVE: Budget 2017 – reaction to chancellor Philip Hammond’s speech March 8, 2017 Live coverage of Philip Hammond's first (and last) Spring Budget, with measures expected on Stamp Duty, T-levels, business rates, national insurance and fuel duty.
Budget 2017 UK: When does Philip Hammond’s Spring Budget speech start and where can I watch it? March 8, 2017 How much more will you be paying for a pint? We'll soon find out as chancellor Philip Hammond will unveil new spending powers this week. What is the Spring Budget? This will be Hammond's first and last Spring Budget, as the annual Budget announcement is set to move to a new schedule focused on the [...]
Kenneth Arrow: The man who proved economists needn’t be loud to make a difference March 8, 2017 Does winning the Nobel Prize in economics cause longevity? We might be forgiven for thinking so. Thomas Schelling died last year aged 95. The author of the famous textbook, Paul Samuelson, passed away at 94, while his colleague Bob Solow is still going strong at 92. The British Laureate Ronald Coase reached the age of [...]
Business teaches you how to negotiate: Here’s the Brexit advice I would give Theresa if I was at Number 10 March 8, 2017 As an entrepreneur, I’m naturally optimistic. I’ve always seen the upside in the UK becoming an independent nation, which is why I supported Vote Leave during the referendum campaign. My business career has also taught me some valuable lessons on how to negotiate successfully. If the government is given space to negotiate our exit from [...]
Why we should cheer on chancellor Philip Hammond -aka Spreadsheet Phil – during today’s Spring Budget March 8, 2017 Cast your minds back to November 2015, when George Osborne was still chancellor of the exchequer and Brexit was merely a twinkle in Boris Johnson’s artful eyes. Osborne was under pressure to scrap his proposed cuts to tax credits following an intense political storm. Fortunately for David Cameron’s right hand man, the government’s fiscal watchdog presented [...]