Abolishing these 20 taxes will help the poor, says the IEA November 2, 2016 A radical free-market Westminster think thank is claiming it can maintain welfare support and improve the lot of the low-income workers while scrapping nearly every mainstream tax that the government currently imposes. The Institute of Economic Affairs says the controversial plan would see the poorest 10 per cent of the UK enjoying tax cuts worth [...]
Donald Trump says Hillary Clinton voters with “buyer’s remorse” can change their pick November 2, 2016 Asian markets are feeling jittery and so apparently is everywhere else as the US presidential election is going down to the wire. And the war of words between Hillary Clinton and Donald Trump is heating up. Over in the red corner, Trump branded Clinton "corrupt", while warning she would "destroy American healthcare forever". He even told [...]
Autumn Statement 2016: Should Hammond try his luck at some radical tax simplification? November 2, 2016 Scrap corporation tax. Scrap council tax. Scrap capital gains tax. And inheritance tax too. And business rates, the TV licence fee, the apprenticeship levy, all stamp duties, alcohol duties, tobacco duties – get rid of them all! These are the somewhat provocative proposals from a new report covered on today’s front page of City A.M. [...]
Shrink the government to grow the British economy November 2, 2016 November is the month when many Christians remember the dead. This year, in the same month, the Institute of Economic Affairs is focusing on that other constant of life – taxes. Sadly in the UK, taxes seem not just inevitable, but ever-growing. In 2015, the government spent 46 per cent of national income. Government estimates [...]
The influential Treasury Committee has launched a stinging attack on a probe into competition in retail banking November 2, 2016 An influential group of MPs has lashed out at a light-touch report into high street banking, days before the City watchdog publishes its verdict on the sector. Treasury Select Committee chair Andrew Tyrie said the failure of the Competition and Markets Authority to propose dramatic reform smacked of “complacency”, while Labour MP Rachel Reeves said the [...]
CBI seeks R&D investment boost in Autumn Statement to offset weaker GDP growth forecast November 2, 2016 The CBI is urging the chancellor to provide investment in infrastructure and research and development in the upcoming Autumn Statement, to offset its lower predictions of GDP growth. The business group has revised its GDP growth forecasts down from two per cent to 1.3 per cent for next year and it expects business uncertainty to [...]
Government-backed review calls for an end to all-white company boards November 2, 2016 Every FTSE 100 company board should have at least one director of colour by 2021, and each FTSE 250 Board by 2024, a government-backed report out today has recommended. The report reveals that out of 1,087 director positions in the FTSE 100, only eight per cent of positions are held by directors of colour, of which [...]
“Deeply concerned” Sadiq Khan orders investigation into Olympic Stadium costs November 1, 2016 London mayor Sadiq Khan has ordered an investigation into a £50m increase in the cost of converting the Olympic Stadium into the home of West Ham United. The London Stadium conversion was expected to cost £272m, but the figure has now risen to £323m. Read more: This is West Ham's "five point plan" to tackle [...]
Philip Hammond warns cyber attacks risk plunging UK into darkness as he sets out defence strategy November 1, 2016 Philip Hammond warned cyber attacks could plunge the UK into “darkness” and ground aeroplanes as he set out a new defence strategy today. The chancellor, speaking amid warnings about Russian-backed hacking, also told enemies that Britain would “retaliate in kind” to attacks, describing this as “the best deterrent”. Read more: Hammond to reveal Britain's new [...]
The government wants “flexibility but fairness” for Uber and gig economy workers November 1, 2016 Flexibility as well as fairness must be considered when it comes to workers rights in the wake of the landmark Uber driver employment ruling, the government’s digital minister has said. “Technology is changing employment patterns and it's important we keep up with that and it's important that employers take their employment law responsibilities seriously,” said Matt [...]