The City View: Matthew Elliott on why the mood music points to a Brexit deal July 2, 2020 In this episode Christian is joined by Matthew Elliott, a veteran political campaigner, having been CEO of two successful referendum campaigns – NOtoAV in 2011 and Vote Leave in 2016. He also founded the TaxPayers’ Alliance, Big Brother Watch, Business for Britain and Brexit Central. He has been described by the New Statesman as “one of the [...]
Two-thirds of Brits think coronavirus bailouts should have strings attached July 2, 2020 Almost two-thirds of Brits think large companies should only receive public bailout money if they agree to conditions such as protecting jobs and reducing carbon emissions, according to polling published today that adds to pressure on the Bank of England. Financial campaign group Positive Money and pollster Yougov found that 63 per cent of the [...]
Government: Firm’s £108m PPE contract issued ‘in error’ July 1, 2020 The government has backtracked on official documents showing that it awarded a family-run firm £108m to procure personal protective equipment (PPE), saying it reported the sum “in error”, City A.M. can reveal. The Department for Health last month published documents that showed it secured a deal worth £108m in April with Crisp Websites Ltd — [...]
Downing Street still upbeat about gaining post-Brexit EU access for City of London July 1, 2020 Downing Street is still confident it can secure post-Brexit access to EU markets for the City of London as it blames Brussels for missing a key deadline in negotiations. The UK missed yesterday’s deadline to hand in 28 regulatory equivalency assessments to the EU relating to Britain’s financial services industry. Brussels must use these documents [...]
Don’t sacrifice Hong Kong for bankers’ bonuses, Raab tells HSBC July 1, 2020 Foreign secretary Dominic Raab today criticised HSBC and other British banks for supporting China’s controversial new security law in Hong Kong, saying the rights of its citizens should not be sacrificed for bankers’ bonuses. HSBC and fellow Asia-focused lender Standard Chartered have come under fire from politicians in the UK and US after the banks [...]
OECD insists US remains part of global talks on digital tax July 1, 2020 The OECD has said the US is still taking part in discussions around a global digital tax solution, despite statements to the contrary from Washington. US treasury secretary Steven Mnuchin said earlier this month the US would leave the talks if several European countries did not halt their plans for independent digital taxes, including the [...]
Hong Kong security law: UK confirms visa offer to 3m Hong Kong residents July 1, 2020 The UK has confirmed it will offer visas to 2.9m Hong Kong residents with a route to citizenship, after the imposition of new security laws by Beijing. Hong Kong residents with British National Overseas status and their dependents will be able to access five-year work or study visas, with a chance to apply for settled [...]
Dominic Raab says new Hong Kong security laws are ‘clear and serious’ violation of UK-China treaty July 1, 2020 Foreign secretary Dominic Raab has said newly implemented security laws in Hong Kong are a “clear and serious violation” of the handover treaty between China and the UK. China implemented the new legislation in Hong Kong today, which amounts to a widespread clampdown on freedom of speech and democracy. Under the new laws, criticism of [...]
Work still ‘ongoing’ on air bridges, says Alok Sharma July 1, 2020 Business secretary Alok Sharma has said the UK’s plans to create air bridges with other countries is still “ongoing”, potentially indicating further delays to any announcement. The UK’s plan to have quarantine-free with some low coronavirus risk countries, also known as air bridges or travel corridors, was expected to be announced last Friday. Media reports [...]
UK to negotiate financial services trade deal with Switzerland July 1, 2020 The UK and Switzerland have pledged to negotiate a financial services trade agreement to enable cross-border market access after the Brexit transition period ends. Chancellor Rishi Sunak and his Swiss counterpart Ueli Maurer last night said they wanted to reach an agreement that would enable cross-border market access for wholesale financial services relating to insurance, [...]