Downing Street wants to spend £1 in every £3 on small businesses by 2020 November 15, 2016 Downing Street has recruited 24 bosses from across the UK to help boost public spending with the UK's small businesses. A new small firm panel will help drive the government's new target of 33 per cent of public spending going on businesses with fewer than 250 staff. Last year, small businesses took 27 per cent, [...]
Optimism on the future of the UK economy has plummeted among bosses according to a new survey November 15, 2016 Business leaders are pleading with the government to restore faith in the wider economy next week after a survey showed confidence amongst bosses plummeting through October. While optimism had been growing in the aftermath the summer referendum, new figures from the Institute of Directors show expectations fell dramatically last month. An IoD survey of over [...]
Bosses are demanding a radical shake-up of tax laws to prevent firms facing avoidance charges November 15, 2016 Some of the country's top bosses are demanding a radical shake-up of the UK's tax rules to prevent businesses from being hauled up on charges of avoidance. In a submission to the Treasury ahead of next week's Autumn Statement, the Institute of Directors is calling on the government to create a "white list" for authentic [...]
Prime Minister Theresa May warns weight needs to be given to globalisation worries November 14, 2016 Prime Minister Theresa May warned tonight that political "change is in the air" throughout western democracies, telling an audience in the City: "globalisation in its current form has left too many people behind". Speaking at the Lord Mayor's banquet at the Guildhall, May accepted that liberalism and globalisation continue to have "an overwhelmingly positive impact [...]
The Trump-Hammond-Keynesian consensus is wrong: Higher infrastructure spending does not equal greater growth November 14, 2016 To a man with a hammer, everything looks like a nail. Or when it comes to the UK economy: to an economist who believed in fiscal stimulus in 2011, every period of time looks like an opportunity for more government spending. In the aftermath of Donald Trump’s victory last week, even his most vociferous left-leaning economic critics [...]
Have you been pleasantly surprised by Donald Trump’s performance since the election? November 14, 2016 Tim Worstall, senior fellow of the Adam Smith Institute, says Yes. Pleasantly surprised is to put it mildly. The sight of special snowflake heads exploding in outrage all around has been hugely enjoyable. According to them, threats to deport 3m illegal immigrants seem to be different from the 3m deported under the Obama administration. The [...]
The behavioural biases that explain why Mr Market is unruffled by Mr Trump November 14, 2016 The world is not short of comment and analysis following the election of Donald Trump as US President. In some ways, the coverage is indicative both of the result’s unexpected nature and its historical significance. It is fascinating, therefore, that an event of such magnitude has created barely a ruffle in stock markets. Step back from [...]
Brexit minister David Davis to hold monthly talks with Sadiq Khan as the UK quits the EU November 14, 2016 Brexit minister David Davis has agreed to hold monthly meetings with London mayor Sadiq Khan in a bid to make sure the capital's voice is heard as the UK moves to quit the EU. Although a final timetable has yet to be confirmed, Davis has agreed to begin the meetings with Khan ahead of Theresa [...]
Why Trump voters will now be suffering from Trumpgret November 14, 2016 It is fascinating, albeit in a sad way, to see politicians making promises they won’t or can’t keep. A prime example was Vote Leave’s pledge to hand the £350m per week sent to the EU to the NHS instead. It was scrapped from the campaign’s website the day after the Brexit vote. Last week’s election win by [...]
Will Philip Hammond free up nearly £20bn to be ploughed into businesses with a dramatic VAT cut next week? November 14, 2016 Philip Hammond could free up nearly £20bn to be ploughed into UK businesses by cutting VAT next week, according to figures from commercial insurer NFU Mutual. Hammond will present his first Autumn Statement on 23 November, and research by the firm has found that two-thirds of consumers would increase spending if VAT was reduced. Read [...]