The Brexit bill? Chancellor Philip Hammond expected to announce £100bn black hole in Autumn Statement November 17, 2016 Chancellor Philip Hammond is expected to reveal a £100bn black hole in government finances in next week’s Autumn Statement. The estimated figure, built up cumulatively over the next five years, has been linked to the UK’s Brexit vote, because of the deterioration in forecasts since March. Read more: Public borrowing could overrun by £100bn over [...]
Hillary Clinton shares pain – “more than I can ever express” – of US presidential election loss November 17, 2016 Hillary Clinton has spoken of her disappointment following Donald Trump’s victory in the US election, saying she wanted to “never leave the house again”. The Democrat won the popular vote against Trump, but was beaten in the US electoral college system. Speaking at a children’s charity event, Clinton said: “I will admit coming here tonight [...]
Chaotic Brexit planning has cost Tories’ “party of business” mantle, Labour business minister claims November 17, 2016 Labour's shadow business secretary will today accuse Conservatives of giving up their mantle as the party of business, hitting out over chaotic Brexit planning. Speaking at the Royal Society of Chemistry today, Clive Lewis will promise businesses a clear industrial strategy, led by an ambitious goal on renewables. Lewis will commit Labour to a goal of [...]
May must scrap “counterproductive” plans to limit immigration says radical free market think tank November 17, 2016 Theresa May has been urged to scrap “counterproductive” moves to limit migration in the aftermath of the Brexit referendum, despite public support for reform. Radical think tank the Institute for Economic Affairs is pushing the Prime Minister to retain freedom of movement in a bid to boost the British economy. May has made it clear [...]
An ex-White House adviser and two banking bosses have been recruited to join Liam Fox’s trade ministry November 17, 2016 A former adviser to George W. Bush and two senior bankers have been recruited to advise Liam Fox's trade ministry, following former IoD director general Simon Walker. Walker's appointment emerged last month, but now City A.M. can reveal three further non-exec hires at the government department. Former Bush adviser and economist Pippa Malmgren leads the [...]
The ministry of justice to stamp out “bogus” whiplash claims, while insurers promise to pass on savings November 17, 2016 Insurers and motorist groups celebrated government plans to get tough on bogus whiplash claims. Motor insurers have clamoured about the inflationary impact of whiplash claims over recent years. They have said that despite a generally soft insurance market, motor premiums have soared because of spiralling personal injury claims. Read more: Here's one more way the cost of motoring is [...]
JP Morgan share price down as Jamie Dimon tipped for US Treasury spot again November 16, 2016 JP Morgan shares closed down 2.5 per cent tonight after reports resurfaced that Donald Trump was about to offer chief exec Jamie Dimon the treasury secretary role. Fox anchor Maria Bartiromo tonight tweeted she had heard Dimon was about to be offered the role, with a “big meeting” expected tomorrow. Hearing @jpmorgan ceo jamie Dimon [...]
As “post-truth” is named word of the year by Oxford Dictionaries, have we really entered the era of post-truth politics? November 16, 2016 Rachel Cunliffe, deputy editor of Reaction, says Yes. Donald Trump was always against the Iraq War. The US has an $800bn trade deficit. Clinton started the birther movement. Three lies told by Trump during the second debate, with a dozen more examples from that 90 minutes alone. The moderators didn’t fact-check him, and even if [...]
The British Overseas Territories can help make Brexit a success November 16, 2016 The UK is a family. It includes Scotland, Wales and Northern Ireland, but the Crown Dependencies and Overseas Territories, like the British Virgin Islands (BVI), are part of the wider family too. Like with all families, there is a shared history and a strong partnership – and I’m pleased to say that, following constructive discussions [...]
The government must get serious about simplifying Britain’s complex tax laws November 16, 2016 With British business awash with Brexit uncertainty, it has never been more important for the government to simplify our complicated tax system. The UK tax code is now more than 20,000 pages long. It’s made up of over 1,000 tax reliefs and exemptions. At around 10m words, it is 12 times the length of the [...]