MP committee tells press industry: Toughen up regulator or face feared Section 40 February 23, 2017 A group of MPs has called on the press industry to toughen up its regulator or face the much-feared Section 40. Parliament's Culture, Media and Sport committee today published a report calling for the industry’s preferred regulator, the Independent Press Standards Organisation (Ipso), to make itself compliant with recommendations set out by Lord Justice Leveson after [...]
Unilateral free trade: The selfless Brexit policy that is best for everyone February 23, 2017 There is a clear ethical choice at the heart of trade policy, with direct implications for Brexit. The choice is between selfish, self-interested or selfless policies. And the counter-intuitive truth is that it is selfless policies that maximise prosperity in the long term. So what is meant by selfish, self-interested and selfless? Selfish policies are [...]
Scrap the utopian net migration target (among other things) to reconcile traditionalists and liberals on immigration February 23, 2017 Across the West, we are experiencing a growing cultural clash between liberals and traditionalists. It was encapsulated by Clinton versus Trump, and now by Macron against Le Pen in France. Former Prime Minister Tony Blair recognised this 10 years ago, saying: “The real dividing line to think of in modern politics has less to do with [...]
Government isn’t doing enough to mitigate the environmental hit from Heathrow expansion, warn MPs February 23, 2017 The government looks set to flout recommendations made by its own climate change advisers regarding the environmental impact of Heathrow expansion, MPs warned today. The Environmental Audit Committee has found the government is not doing enough to show it can mitigate the environmental hit the new runway is expected to have, and looks set to [...]
Clear off: City of London steps up fight to retain euro clearing after expert warnings against “currency nationalism” February 22, 2017 High-profile regulators, politicians and financial experts have warned that any move by the European Union to force euro clearing out of London could have grave consequences for global economic stability. Sir Jon Cunliffe, the deputy governor of the Bank of England who supervises financial stability, hit out at “currency nationalism” on Wednesday, saying: “Such a policy if [...]
Maintaining London’s euro-clearing crown is vital to EU as well as the UK, says City of London MP Mark Field February 22, 2017 London’s deep, liquid markets and the breadth of its financial and professional services mean that it stands unrivalled as a European financial centre, which is one of the reasons why it has dominated the foreign exchange market in such a decisive way. The City’s traders now sell more than twice as many euros as all the [...]
Emmanuel Macron has won a big endorsement for his French presidential campaign and the markets seem to like it February 22, 2017 French presidential candidate Emmanuel Macron has received another boost in a busy week, after being endorsed by veteran centrist Francois Bayrou, with the markets welcoming the move. Macron was in London to speak to Prime Minister Theresa May only yesterday, and today won the backing of Bayrou, helping his bid to move clear of centre-right Republican Francois Fillon [...]
Sajid Javid has just signalled a Budget concession on business rates February 22, 2017 Communities secretary Sajid Javid has today signalled a government concession on support for firms facing substantial hikes in business rates later this year. The government has previously promised a £3.6bn package for transition measures, but Javid said today that he was working closely with chancellor Philip Hammond on demands for further support. Despite defending the incoming [...]
Did Labour deputy leader Tom Watson perform a Parliamentary “dab”? February 22, 2017 Prime Minister's Questions resumed today after a brief break – and with two by-elections taking place tomorrow, it was a crucial session. But it wasn't quite business as usual. Because it looks an awful lot like Labour's deputy leader Tom Watson performed a little dance move from his seat in the House of Commons. Deputy Labour [...]
Now the Treasury Select Committee says it will take evidence on the business rates revaluation February 22, 2017 Andrew Tyrie has written to the chancellor for clarification on the controversial business rates revaluation. Pressure is growing for a review on an upcoming business rates revaluation after Tyrie, chairman of the Treasury Select Committee, said the Committee will take evidence on the revaluation and its effects on the economy. Many, including London mayor Sadiq Khan, [...]