Have the economic benefits of post-Brexit free ports been overhyped? February 12, 2020 Have the economic benefits of post-Brexit free ports been overhyped? Adrienne Buller, senior research fellow at think tank Common Wealth, says YES. Free ports are a white elephant — a symbolic gesture from the government in lieu of meaningful investment in “levelling up” regions outside London. There is little evidence to support the idea that [...]
‘Turf war’ threatens Treasury as No 10 prepares for reshuffle February 12, 2020 Last minute preparations for a government reshuffle were ongoing last night ahead of an expected announcement tomorrow, with speculation that the Treasury’s ministerial team could be set for a shake-up. Rishi Sunak, second-in-command, is widely tipped for a promotion to a Cabinet post elsewhere in government after impressing No. 10. Sources have, however, suggested that [...]
Boris Johnson to appoint minister to oversee HS2 as he gives rail link green light February 11, 2020 Boris Johnson has given the go-ahead for the controversial HS2 rail link between London and Birmingham, announcing he will appoint a minister to oversee the project, as he damned the current management. The Prime Minister this afternoon confirmed the government was backing HS2, which is now estimated to cost more than £100bn by completion. Read [...]
Rory Stewart wants to sleep on your sofa February 11, 2020 Londoners are being given the chance to snuggle up to an unusual house guest this winter, mayoral candidate Rory Stewart. Independent candidate Stewart sent out the surprising invitation to Londoners today, asking to sleep over at people’s houses as a part of his election campaign. The initiative, called Come Kip with Me, will see the [...]
Brexit: Michel Barnier tells UK government not to ‘kid themselves’ on financial services deal February 11, 2020 The EU’s chief negotiator Michel Barnier has this morning rejected the UK government’s call for a financial services deal to be built on a long-term equivalence regime, and warned Downing Street that Brussels will “keep control”. Speaking to the European Parliament entirely in French, Barnier emphasised that it “cannot be business as usual” after the [...]
Boris Johnson to give controversial rail link HS2 backing today February 10, 2020 The Prime Minister is expected to give HS2 the green light later today, after the £100bn infrastructure project receives final sign off at this morning’s Cabinet. A decision on the controversial high speed rail link, which will run between London and Birmingham initially, before splitting onto two branches going onto Manchester and Leeds, had been [...]
Exclusive: Treasury to unveil equivalence vision for City in white paper February 10, 2020 The government will insist on the right to diverge from EU financial services regulation as part of a post-Brexit trade deal with Brussels based on equivalence. Writing in City A.M. today, chancellor Sajid Javid says the City “will no longer be a rule-taker” and reveals that ministers are working on a white paper setting out [...]
Boris Johnson to announce £5bn bus service improvement plan February 10, 2020 Boris Johnson is tomorrow expected to announce £5bn of funding to improve local bus services across the country. The Prime Minister will outline a plan to transform the bus network and cycle links with simpler fares, new vehicles, improved routes and higher frequencies. The five-year funding package will increase the number of services – particularly [...]
Natwest Three banker slams ‘pernicious’ US-UK extradition treaty February 10, 2020 A British banker who was extradited to the US for fraud said the extradition treaty between the two countries is a “pernicious law” that is “designed for one outcome — incarceration”. Last week, Autonomy founder Mike Lynch was arrested following a US extradition request. Lynch faces charges of securities fraud, wire fraud and conspiracy in [...]
Sadiq Khan will spend £350,000 to fight the Tulip tower February 10, 2020 City Hall will spend up to £350,000 to defend its decision to reject the planning application for the Tulip tower as Sadiq Khan gets ready to fight an appeal against its developers. The 1,000-foot skyscraper was set to be built by architecture firm Foster + Partners opposite the Gherkin, after its design was approved by [...]