Ukip’s march Left will create Britain’s first major populist party – and that means big business needs to look beyond the bounds of London July 8, 2016 Nigel Farage might not be every City worker’s favourite person at the moment. But the City might look back on Farage’s time as leader with fondness – because there is a real prospect that Ukip’s leadership election will herald the birth of Britain’s first truly populist party. Ex-commodities broker Farage was at heart a pro-business [...]
Would the City be better off in the long term outside the Single Market? July 8, 2016 Len Shackleton, professor of economics at the University of Buckingham, says Yes. Policies towards banks and the financial sector are largely based on ignorance, envy and spite – whatever country you’re in. But a UK outside the EU has a marginally better chance of forming sensible policy as slightly more of our politicians have at [...]
Whitehall shames itself with lack of Leave plan July 8, 2016 The Treasury is one of the three ‘great offices of state’ – dominating the machinery of government and sitting alongside the Home Office and the Foreign Office in terms of prestige, power and pedigree. Throughout all of Whitehall its patronage is yearned for and its wrath feared. Simply put, it is the nerve centre of [...]
A senior Tory MP has blasted the Treasury’s failure to plan around a Leave vote, as revealed by top civil servant earlier today July 7, 2016 A senior Tory MP and Brexiteer has blasted the Treasury's failure to plan for a Leave vote, as revealed by a top civil servant earlier today. Speaking to the public accounts committee, the Treasury's most senior civil servant admitted that his department made no plans for a Brexit vote. Tom Scholar, the permanent secretary to the [...]
The former boss of Barings Bank has said he cannot recall Andrea Leadsom, despite the energy minister claiming to have played a central role in the aftermath of its collapse July 7, 2016 The former chief executive of Barings Bank has questioned Tory leadership contender Andrea Leadsom's claims of working at the centre of attempts to halt a financial crisis in the aftermath of the bank's collapse. Leadsom, who will face home secretary Theresa May in a battle to become the next Prime Minister, has regularly referred to her [...]
Theresa May will face Andrea Leadsom in a poll of Conservative members to decide the next Prime Minister July 7, 2016 Home secretary Theresa May will face energy minister Andrea Leadsom in the final contest to succeed Prime Minister David Cameron. Justice secretary Michael Gove was eliminated in a ballot of Conservative MPs today. A date has yet to be set for the final vote, although the Tories have pledged to select a new leader by September 9. [...]
Labour’s Stephen Kinnock has demanded answers on Tata UK plans, as business minister Sajid Javid heads to India July 7, 2016 Labour MP Stephen Kinnock has called for clarity on the latest plans for Tata Steel's UK operations ahead of business secretary Sajid Javid's trip to Mumbai this weekend. Javid will be flying to India tonight ahead of a Tata board meeting tomorrow. And Kinnock, whose Aberavon constituency includes the Tata Port Talbot works, has handed [...]
The Houses of Parliament have fully re-opened after alarms were raised over a suspicious package July 7, 2016 The Houses of Parliament have now fully re-opened after a security alert centred on a suspect package earlier today. Police were called around 12.30 today in relation to a package delivered to the Houses of Parliament. The security alert resulted in parts of the House of Lords car park and terrace being shut off. Some peers were [...]
Chancellor George Osborne has secured the backing of five investment banks as he seeks to protect the role of the City after Brexit July 7, 2016 George Osborne has secured the support of the leaders of five investment banks as the government seeks to protect the City following last month's Brexit vote. Osborne met with bosses from Standard Chartered, Goldman Sachs, Bank of America Merrill Lynch, Morgan Stanley International and JP Morgan earlier today. And now the bankers and Osborne have [...]
Home secretary Theresa May remains the favourite to replace David Cameron as MPs vote to select the final candidates for the Tory leadership July 7, 2016 Home secretary Theresa May remains the overwhelming favourite to succeed David Cameron as Tory MPs vote again on the contenders for the leadership. They are voting today to choose the final two candidates for Conservative leader, and therefore Prime Minister. The final two will be voted on by party members, with the Conservatives planning to [...]