End delays to London City Airport expansion and the whole UK will see the benefits March 15, 2016 UK airports had their busiest ever summer last year, collectively handling 78m passengers, and the indicators are that 2015 as a whole was the busiest year on record. London City Airport certainly had a record-breaking year, with 18 per cent growth in passengers to 4.3m. More people than ever are taking to the skies and [...]
Osborne created a Budget rod for his own back by abandoning prudence on government spending in the November Autumn Statement March 15, 2016 It's what the great economist Milton Friedman described as “the tyranny of the status quo”. Every Budget week, we hear lots about the so-called “losers” of expected or announced decisions by the chancellor on government spending. Over the weekend, for example, there was a lot of noise about potential further cuts to the welfare bill. Despite [...]
Budget 2016 is Osborne’s chance to reform HMRC’s relationship with business for the better March 15, 2016 Tomorrow's Budget poses a dilemma for the chancellor. Does he follow the habits of chancellors past and raise taxes in the first full Budget of a Parliament, or does he defer tax-raising decisions given the uncertainty of the EU vote on 23 June? Whatever he decides, businesses will be focusing on the much-heralded Business Tax [...]
Are senior bankers right that London would remain the leading centre for currency trading in the event of Brexit? March 15, 2016 Declan McEvoy, founder of Coalface Capital and a former investment banker, says Yes. While Brexit would potentially detrimentally affect fund management (mainly because of the EU passporting regime), the currency markets are an altogether different matter. London’s dominance is a function of several factors. First, its pole-position from a time-zone perspective – FX is a 24 [...]
Budget 2016: It’s time for the Treasury and George Osborne to find elusive cuts, not introduce stealth taxes March 14, 2016 A guaranteed way of keeping someone on your side is to print a bigger number at the bottom of their monthly pay slip – a fact recognised by employers and politicians alike. George Osborne is expected to lift the personal allowance again during Wednesday’s Budget (a commendable continuation of the Liberal Democrats’ longstanding policy) and [...]
Psychology of Donald Trump: Why the US has gone mad for this demagogue March 14, 2016 It has become the curse of the current social season. Arrestingly, wherever I am speaking or consulting in Europe, once the people I am mingling with realise I am both a Republican and a person for whom – at least until a few moments before – they had some regard, the same depressing pattern repeats itself. Almost [...]
How City firms are using innovation to combat societal challenges March 14, 2016 My mayoral theme “Innovate here, Succeed anywhere” reflects the reputation of the City and the UK for creative energy. From baristas to barristers, professional services to everyday services, innovation means success – both in and out of the office. Strong and healthy commerce depends on strong and healthy communities – and yet many areas of London [...]
Give business a break: Why the chancellor’s Budget should prioritise stability over radicalism March 14, 2016 The chancellor faces an important choice this week, as he delivers his fourth big fiscal plan in 12 months. It comes down to a choice between yet another radical Budget – with all the uncertainty and disruption that may cause for businesses – or a steadier approach that gives firms and the government itself the [...]
With the Budget looming, has George Osborne missed his chance to balance the books? March 14, 2016 Kallum Pickering, senior UK economist at Berenberg, says Yes. As if he ever had much of a chance in the first place. If the precedent of consistently missing his targets year after year isn’t enough, the numbers speak loud and clear. In the first 10 months of this fiscal year, George Osborne has rattled through 90 [...]
Why don’t Manchester United have a women’s team? It’s a business no-brainer for Ed Woodward and the Glazers March 11, 2016 An Official Digital Transformation Partner, an Official Paint Provider, an Official Global Noodle Partner… the list goes on. Manchester United’s commercial team are experts at milking cash from the club’s global reach and appeal. It seems that everything and anything that can be sponsored at Old Trafford already is, yet still United continue to unveil [...]