Philip Hammond loosens George Osborne’s fiscal rules to give himself more elbow room as Brexit unfolds November 23, 2016 The government has published yet another new set of rules on fiscal policy, as chancellor Philip Hammond aims to give himself more room for manoeuvre over the course of the next five years than his predecessor, George Osborne. The former chancellor watched from the backbenches as Hammond abandoned all three of Osborne’s rules, introduced in [...]
London mayor Sadiq Khan “disappointed” with limited Autumn Statement devolution November 23, 2016 Sadiq Khan has expressed his disappointment after City Hall secured only limited devolution from the Treasury in today's Autumn Statement. Chancellor Philip Hammond announced today that London would gain control of adult education budgets, and will be given control of £3.15bn in spending toward national affordable housing. That money will be expected to deliver 90,000 [...]
Here are the winners and losers from today’s Autumn Statement November 23, 2016 It's been a rough day for the UK's economic forecasts, but the revelations from chancellor Philip Hammond's first Autumn Statement weren't all bad. Here are some of the biggest winners and losers from the speech: Winners Companies will be cheering after Hammond confirmed that he will be cutting corporation tax to 17 per cent by 2020. [...]
Autumn Statement TL;DR? Here’s our at-a-glance guide November 23, 2016 Chancellor Philip Hammond spoke for around an hour while delivering today's Autumn Statement. If you don't have time for that, here's our at-a-glance overview of the announcements you need to know: Economics, public spending and politics The Office for Budget Responsibility (OBR) forecast for growth increased to 2.1 per cent, up from two per cent, for 2016, but [...]
£450m goes towards digital signalling to improve rail reliability and £390m plugged into driverless cars, says Philip Hammond November 23, 2016 Amid his bumper infrastructure unveiling, Chancellor Philip Hammond announced £450m to trial digital signalling technology on railways to improve reliability. From 2018-19 to 2020-21 the Northern Powerhouse Investment Fund (NPIF) will plug this investment into signalling technology, while £80m will be allocated to accelerate the roll-out of smart ticketing, including season tickets for commuters in [...]
Jury delivers guilty verdict in trial of Jo Cox murder accused Thomas Mair November 23, 2016 Thomas Mair has been found guilty of the murder of Jo Cox MP. Cox died in June after being shot and stabbed outside a library in Birstall where she held her weekly advice surgeries for her constituency of Batley and Spen. The mother of two became an MP in May 2015. Mair, a 52-year-old local man, [...]
Brexit, Trump and Farage? These are the odds on Philip Hammond’s speech November 23, 2016 Happy Autumn Statement Day! It's that time of year again (even though it is actually winter) when the chancellor sets out his stall for spending, and this year it's newbie Philip Hammond who'll be astutely picking out his tie and carefully choosing the words he uses in his speech. Read more: What to expect when you're expecting the [...]
Angela Merkel “not happy” about demise of the Trans-Pacific Partnership (TPP) November 23, 2016 German Chancellor Angela Merkel has today said she's "not happy" about the possible scrapping of the Trans-Pacific Partnership (TPP). Her comments come shortly after President-elect Donald Trump announced he would be pulling the US' involvement from the trade deal on his first day in office. "I will tell you honestly: I am not happy that the [...]
What to expect when you’re expecting the Autumn Statement – here’s what we know so far November 23, 2016 Chancellor Philip Hammond will deliver his first Autumn Statement today – and unlike during the Osborne era, the Treasury has already given a hint of what will be in the speech: Housing Letting agents' fees are in the firing line: Hammond is expected to ban them in an attempt to stop households in private rental [...]
The Lib Dem trying to beat Zac Goldsmith in Richmond Park has vowed to vote against Brexit, no matter what November 23, 2016 The Lib Dem hoping to unseat Zac Goldsmith in the Richmond Park by-election has vowed to fight the activation of Article 50. Sarah Olney is battling against Goldsmith in South-West London after the former Tory MP resigned over the decision to expand Heathrow. And speaking to City A.M. with just days before the vote, Olney [...]