Faith alone won’t keep the euro alive indefinitely December 2, 2016 The euro is an astonishing achievement. Not, obviously, because it’s been a tremendous economic success: unable to devalue, the economies of much of southern Europe are being gutted, facing gravity-defying rates of unemployment (20 percentage points higher in Greece than in Germany), painful efforts to cut wages to restore competitiveness, and essentially unsolvable debt crises. The [...]
Public Accounts Committee: MPs raise concerns over HM Revenue & Customs’ annual performance December 2, 2016 A key parliamentary oversight committee has criticised the taxman's plans to cut costs and urged authorities to lead the way in combating the opaqueness of multinational corporations' tax affairs. The Public Accounts Committee (PAC) today revealed its conclusions within its annual report on HM Revenue & Customs (HMRC). Plans are being implemented by HMRC to cut costs by [...]
Italy’s referendum is a litmus test of how populism will drive politics across Europe December 2, 2016 For over two decades, the pace of Italy’s economic growth has lagged that of its major continental peers. Burdened by overly indebted banks, heavy regulation and weak productivity, Europe’s fourth largest economy has made its fair share of financial headlines. On paper, the referendum this weekend only concerns the domestic matter of Italian constitutional reform. In [...]
As the ONS reveals net migration stayed near record levels before Brexit, is it even possible to reduce it? December 2, 2016 Alp Mehmet, vice chairman of Migration Watch UK, says Yes. It is most certainly possible for the UK to reduce migration levels. Our vote to leave the EU gives the government an opportunity to end the free movement of workers, which is what has been driving migration from the EU. The majority (about 80 per [...]
Richmond Park by-election: Shock win for Lib Dem Sarah Olney as voters sack Zac December 2, 2016 In a shock result overnight Liberal Democrat candidate Sarah Olney has defeated Conservative candidate Zac Goldsmith in the race for the Richmond Park constituency. Olney had won 20,502 votes to Goldsmith's 18,638 votes of those counted at around 2am this morning. Read more: The Lib Dems reckon they'll edge Zac Goldsmith tomorrow Goldsmith, also a failed candidate [...]
The Children’s Food Campaign says the FDF’s top UK brands don’t oppose the sugary drinks tax, so the FDF shouldn’t either December 2, 2016 The Children's Food Campaign (CFC) has asked the Food and Drink Federation (FDF) to stop opposing the tax on sugary drinks, claiming its top UK member brands are less aggressively opposed to the duty than the trade association. Out of 55 FDF members contacted by CFC, 14 gave full responses, including Birdseye, Slimfast, Wrigleys, Mars, Weetabix and Haribo. Seven [...]
French President François Hollande is not running for re-election in 2017 December 1, 2016 French President François Hollande has announced that he will not be seeking re-election in 2017. He has become the first sitting president in modern French history not to run for re-election. The Socialist party leader has been facing sliding ratings in opinion polls, with his popularity falling to just four per cent recently. Hollande made the [...]
Now two of the government’s most senior figures have hinted the UK will continue EU contributions after Brexit December 1, 2016 Signs are increasing that the UK may continue making contributions to the EU after Brexit, after two of the government's most senior figures refused to rule it out. Brexit secretary David Davis said the UK “would consider” contributions aiding the UK in securing the best possible Single Market access. His comments were later echoed by chancellor [...]
UK immigration reached 650,000, its highest levels ever, in the year before the Brexit vote, but cuts to immigration could harm the public finances December 1, 2016 Immigration to the UK reached 650,000, the highest level estimate ever recorded, in the year before the Brexit vote, but influential economists have warned that attempts to reduce net migration could harm Britain’s public finances and even result in higher taxes. European Union immigration also reached its highest ever level, at 284,000, an increase of [...]
Pound shoots up as Davis says UK could pay for single market access December 1, 2016 The British pound rose sharply to break $1.26 after Brexit secretary David Davis said in a speech the UK may continue to pay money into the European Union budget in order to preserve Single Market access. The pound/dollar spot exchange rate had opened the day at $1.2506, but rose sharply this morning to reach intraday highs [...]