Companies will reap the rewards if they help make Brexit work for Britain October 3, 2016 Twelve years before Tim Berners-Lee invented the World Wide Web, Toronto-born social psychology professor Lee Ross was studying what he called the false consensus effect at Stanford University. Ross found that people falsely believe there is a consensus on an issue, even if wider data runs contrary, because those around them think the same way [...]
Labour’s opposition to shale gas is economic sabotage of industrial Britain October 3, 2016 The INEOS Insight, holding 27,500 cubic metres of shale gas, docked at Grangemouth in Scotland last week. As a vessel it is as impressive as it is imposing, and yet it is also a tangible symbol of the confusion in Britain’s industrial policy. Manufacturing as a share of UK GDP has halved in the last [...]
Brexit fundamentalists have destroyed the Tories’ reputation as the party of business October 3, 2016 The Conservatives used to pride themselves on being the party of business. Now that legacy is being turned on its head, as Theresa May moves closer towards a disastrous hard Brexit that would send Britain hurtling out of the Single Market. While businesses clamour for an end to the huge uncertainty they face, the government [...]
Fitch issues latest warning on economic damage of protectionism October 3, 2016 The US is set to grow at its slowest pace since the financial crisis this year, as the global economy falters in the face of historically loose monetary policy and the rise of protectionist forces. Ratings agency Fitch is the latest to flag concerns over the lacklustre performance of the world's largest economy, with a hefty downgrade [...]
Forget Hard or Soft – Theresa May is right to back a Clean Brexit October 3, 2016 Defining the language of politics is crucial if you want to influence the outcome of events. That is why the Prime Minister is not allowing herself to be bounced into settling for either a “Hard” or a “Soft” Brexit. These seemingly innocent and succinct terms offer a great advantage to broadcasters and headline writers, but [...]
Hammond warns over Brexit complacency as he scraps Osborne’s goal of a fiscal surplus by 2020 October 3, 2016 Chancellor Philip Hammond has warned against complacency in the aftermath of Brexit, despite acknowledging better than expected performance. Speaking at the Conservative party conference today, Hammond scrapped his predecessor George Osborne’s goal of a fiscal surplus by 2020, but maintained fiscal consolidation would continue. Hammond said he would lay out his own plans in detail [...]
The Midlands Engine is getting a small but significant transport boost October 3, 2016 The Northern Powerhouse may be clinging on for survival at the moment, but its trendier, younger cousin, the Midlands Engine, has received quite a bit of attention lately. Not only has it received public support from Theresa May and a great deal of talking-up from John Lewis boss and wannabe Birmingham mayor Andy Street – but [...]
What to watch for at the Conservative Party Conference day 2 October 3, 2016 City A.M.'s political reporter Mark Sands is attending the Conservative Party Conference. Here's what to expect from day 2: Bringing it from Birmingham. Read all about the very latest from #Conservative party conference on Monday #cpc16 pic.twitter.com/5tABvWBWb9 — Mark Sands (@MkSands) October 3, 2016 During the day:
Theresa May is “relaxed” about foreign ownership for British employers, according to the chair of her policy board October 3, 2016 Theresa May is “reasonably relaxed” on foreign ownership of British firms, according to the chair of her policy board. Speaking at the Conservative Party conference in Birmingham this morning, George Freeman said the Prime Minister’s focus on foreign investment will relate specifically to the future of businesses in Britain. “The issue isn’t who owns it. The issue [...]
Chancellor Philip Hammond to reset George Osborne’s fiscal policies October 3, 2016 Chancellor Philip Hammond will say today that he is building a "new plan" for the "new circumstances" Britain is in, promising to break away from his predecessor's policies. Hammond is expected to say Osborne's approach was right "at that time", but that things are set to change because "when times change, we must change with [...]