Philip Hammond offers hard truths to the Germans January 16, 2017 While much of the weekend’s focus has been on what Theresa May could announce in her big Brexit speech tomorrow, it was her chancellor, Phillip Hammond, who made one of the more interesting interventions of the weekend. In an interview with a German newspaper Hammond poured cold water on the idea that the UK might [...]
City eyes best possible access to Europe’s Single Market January 16, 2017 The City is shifting to a new focus on best possible access to Europe's Single Market, rather than pinning hopes on continued membership of the trading bloc, as it prepares for the Prime Minister to announce a so-called clean Brexit tomorrow. In a much anticipated speech, Theresa May is expected to make clear the UK’s [...]
Growth in London’s business activity at 11-month high January 15, 2017 December saw the fastest period of growth in London’s business activity since January last year, according to a report by Lloyds Bank. London’s showing on the Lloyds Bank purchasing managers’ index (PMI) was up 56.1 points in December, from 55.3 in November. Despite the strong figures, London was behind most other UK regions for business [...]
Latest ONS data expected to show inflation at 1.5 per cent January 15, 2017 Data released by the Office for National Statistics this week is likely to show an uptick in inflation, a sign that the fall in the value of the pound is having an impact on prices. An inflation rate of 1.5 per cent in the consumer prices index for December would be a significant increase on [...]
Are we more or less happy after the Brexit vote? January 15, 2017 The unexpected and shock result of the vote to leave Europe is just one of the events that has in recent months illustrated an increasingly divided world. But, in this new territory of uncertain times, fake news, and where it sometime feels like up is down and black is white, just what effect is that having on [...]
Hammond hints Britain could lower corporate tax rate January 15, 2017 Britain will be forced to change its economic model if it does not have access to the European market after Brexit, chancellor Philip Hammond has said, responding to questioning on the UK becoming a tax haven in an interview with a German newspaper. A change to the UK's economic model would have to take place for [...]
Bye-bye Single Market? What to expect from Theresa May’s Brexit plan January 15, 2017 We know Brexit means Brexit, but Theresa May will finally tell the UK exactly what that means this week in the most significant speech of her premiership and setting the course for Britain's exit from the European Union. The Prime Minister will say that the UK is prepared to leave the Single Market, customs union [...]
Tight labour market should not make Bank of England raise rates automatically says MPC economist January 13, 2017 A tightening labour market should not necessarily prompt the Bank of England (BoE) to raise interest rates, according to a member of the Bank’s rate-setting body. “Monetary policy should not be set in a way that seeks to rule out sub-5% unemployment over time,” Michael Saunders, an external member of the Bank’s Monetary Policy Committee [...]
Editor’s notes: Carney can see what EU officials refuse to: that they need the City January 13, 2017 Mark Carney isn’t the kind of man to lose his temper in public. Perhaps he isn’t even the kind of man to lose his temper at all. Still, if he was ever to come close to doing so it may well have been at this week’s Treasury Select Committee hearing, where he once again came up [...]
Why the solution to India’s energy challenge lies in coal power plants January 13, 2017 India's huge development and energy challenges mean there are economic and development arguments for investing in new coal power plants for the foreseeable future. More than 240m people in India have no electricity, and even for those who have, the quality is far below standards acceptable in developed countries. India’s residential electricity consumption lags behind [...]