May risks return to “picking winners” former BoE deputy governor warns, days before MPs grill Arm Holdings November 20, 2016 Bank of England deputy governor Sir Charlie Bean has raised concerns over Theresa May's desire to intervene in the UK's economy, just days before MPs grill the British firm at the heart of a £24bn foreign takeover backed by the Prime Minister. Bean, who served as deputy governor from 2008 to 2014, told City A.M. that he held [...]
UK government borrowing could overshoot forecasts by £7.5bn this year owing to Brexit and reduced tax revenues November 20, 2016 UK government borrowing could overshoot forecasts by as much as £7.5bn this year, as reduced tax revenues and the vote to quit the European Union threaten to leave chancellor Philip Hammond with less room for manoeuvre in his first Autumn Statement on Wednesday. The Office for Budget Responsibility could be in line to slash its [...]
Consensus of economic forecasts shows inflation is back, says chancellor Philip Hammond November 20, 2016 Chancellor Philip Hammond has declared: "It's clear that inflation is back." Speaking on ITV's Peston on Sunday, Hammond said: "We have to wait and see what inflation figures look like when we get the OBR's report on Wednesday, but I think looking at the consensus of forecasts, it's clear that inflation is back." "That is hopefully a [...]
Philip Hammond says those who want detail on Brexit plans are inviting the government to “undermine our own negotiation” November 20, 2016 Philip Hammond has said the government will "get the very best possible deal that we can for Britain", amid concern European leaders will force a "hard Brexit". Speaking on The Andrew Marr show, Hammond said: "I do understand the frustration among people who would like us to be much more open about what we're thinking of [...]
Shadow chancellor John McDonnell just said he’d back a rise in the 40p rate tax threshold for higher earners November 20, 2016 Shadow chancellor John McDonnell said he backs raising the threshold on 40p tax for higher earners. Speaking on The Andrew Marr Show, McDonnell said: "It looks as though the threshold will be increased by the government on Wednesday and we would support that." Marr suggested it was a tax giveaway, to which McDonnell said: "It is, but [...]
Businesses are “100 per cent committed” to making the best of Brexit but need clarity from government, says CBI November 20, 2016 Businesses want to make the best of Brexit, but will need more clarity from government, according to the CBI. Speaking tomorrow at the CBI's annual conference, president Paul Drechsler is expected to say that firms are "100 per cent committed" to making the best of Brexit", but to do that, "government and business must do more [...]
Donald Trump will be invited to meet the Queen at Windsor next year November 20, 2016 What a difference a few months makes, eh? In January, MPs were debating banning Donald Trump from the UK, now apparently he'll be invited to meet the Queen next year. The President-elect will be invited to meet the Queen, aka ministers' "secret weapon" to try and really cement the UK's special relationship with America. Read more: Donald [...]
Brexit: 60 Conservative MPs including Michael Gove and Iain Duncan Smith call on Theresa May to pull UK from Single Market November 19, 2016 A group of 60 pro-Brexit Conservative MPs has demanded Prime Minister Theresa May pulls Britain out of the Single Market. The ministers, which include seven former cabinet members, have put their names to the "hard Brexit" demand through the Sunday Telegraph, amid concerns that Remain figures in the cabinet are watering down the government's Brexit position. [...]
Senior Tories urge Theresa May to drop Brexit appeal case November 19, 2016 Senior Conservative Party members have urged Theresa May to abandon an appeal against the Brexit High Court ruling that means MPs must vote on the UK leaving the EU. The former head of the government's Brexit unit, Oliver Letwin, and two former justice officers have said the case should not go to the Supreme Court and that [...]
US President-elect Donald Trump agrees to pay $25m to settle Trump University lawsuits November 19, 2016 US-President elect Donald Trump has reached an agreement to settle lawsuits in connection with his Trump University for $25m (£20m). If the settlement, announced yesterday, is approved, it will put to rest fraud allegations brought forward by former students at the now-defunct for-profit education company that offered real estate training from 2005 to 2010. New York attorney [...]