Our overly centralised tax system has exacerbated the business rates debacle February 22, 2017 Business rates may not be the most captivating subject for most City A.M. readers. But the impact of a delayed revaluation on our shops, pubs and cafes might well be. Changes affecting the £25bn a year tax that ultimately goes to pay for social care, schools, Tube trains and roads are due to come into [...]
As Jean-Claude Juncker re-emphasises that Britain faces a “hefty” Brexit bill, should we pay it? February 22, 2017 Jonathan Portes, professor of economics and public policy at King’s College London, says Yes. Why is this even a question? The bulk of the “bill” relates to accrued pension liabilities of EU civil servants – pensions they earned while working for us. We – the UK public, via our democratically elected government – hired them, [...]
Labour vows to fight for a “manufacturing renaissance” in Brexit February 22, 2017 Shadow chancellor John McDonnell will today vow to put the UK's manufacturers at the heart of Labour's Brexit planning. Speaking at the national conference of manufacturer's association EEF in London, McDonnell will promise to develop a “British Mittelstand”, in reference to the mid-sized businesses sometimes held up as the core of Europe's economy. The shadow chancellor [...]
Lib Dem leader Farron to demand a fresh industrial revolution led by a new Green Investment Bank February 21, 2017 Liberal Democrat leader Tim Farron is to call for the government to create a new Green Investment Bank in a speech demanding a new industrial revolution. Speaking in Central London tomorrow, Farron will outline plans for a new “Victorian” era of building, warning that Britain risks being “surpassed and relegated” without action. The Lib Dems are [...]
London’s Tory MPs band together to battle business rate plans February 21, 2017 London's Tory MPs are banding together to propose reforms to business rates as the pressure builds on chancellor Philip Hammond. Wimbledon MP Stephen Hammond told City A.M. that MPs were reflecting the fact that capital business faces some of the steepest increases in the country. “The pressure is building at a time when it's very difficult [...]
Brazen French presidential candidate Emmanuel Macron tells London – I want your banks to move to Paris after Brexit February 21, 2017 French presidential candidate Emmanuel Macron has said he wants to lure banks from London to Paris in the aftermath of Brexit, striking a bullish and undiplomatic tone during a visit to Downing Street. "I was very happy to see that some academics and researchers in the UK because of Brexit are considering coming to France [...]
Stoke-on-Trent by-election: All you need to know about the vote on 23 February February 21, 2017 There's a hotly contested by-election looming in Stoke-on-Trent, with Labour facing a crucial battle against Ukip. With the vote fast approaching, we've rounded up all the vital information. When is the by-election taking place? Voters will go to the ballots on Thursday 23 February. Polls will open at 7AM and close at 10PM. Who's in [...]
Coup de grace: Are investors misjudging Marine Le Pen’s chances of victory in France’s presidential election? February 21, 2017 "Fool me twice, shame on me,” goes the idiom. Caught out by shock victories for the Leave and Trump campaigns in 2016, investors are determined not to let political risk get the better of them a third time as the French presidential election approaches this spring. Since the beginning of the year, French government bonds [...]
Trump has named Lt Gen HR McMaster as his new national security adviser after Mike Flynn lasted just three weeks in the job February 21, 2017 President Donald Trump has named Lt General HR McMaster as national security adviser, his replacement for Michael Flynn. Trump called McMaster "a man of tremendous talent and tremendous experience". His appointment comes after retired vice admiral Robert Harward turned down the role and David Petraeus, former general and CIA chief, was removed from the running. [...]
Spending sprees and strikes prove Sadiq Khan is using London as a springboard for his real ambitions: the Labour leadership February 21, 2017 A hypothesis: Sadiq Khan plans to cut and run after a single four-year term as mayor of London. In the meantime he will say and do anything he can to boost his popularity, regardless of the consequences. His motivation? To present himself as a quick-fix, ready-made alternative to the current Labour leader. Khan’s supporters may [...]