Brexit would trigger a recession, says Osborne May 23, 2016 Brexit would launch the UK’s economy into a year-long “DIY recession”, according to new research from the Treasury, with GDP possibly dropping by as much as six per cent. The controversial research published today warns that a vote to leave would represent “an immediate and profound” shock for the economy. Speaking today, George Osborne is expected [...]
Close call: Postal votes to make or break far right’s success in Austria election May 22, 2016 Initial counts for Austria's presidential election indicated a dead heat earlier today, meaning postal votes are likely to play a key role in determining whether the far-right Freedom Party will take power. The forecast from the SORA institute on behalf of broadcaster ORF, which is based on votes cast in polling stations alongside an estimate of postal votes, indicated that the [...]
Now it’s the advisers’ turn to be grilled by MPs over BHS collapse May 22, 2016 The topic of the BHS collapse will be heading back into parliament tomorrow, with a string of advisers from top law and accountancy firms due to be grilled by MPs. Ian Greenstreet, partner at Nabarro, Tony Clare, partner at Deloitte, David Clarke, partner at KPMG, Richard Cousins and Steve Denison, both partners at PwC, Emma King, partner at Eversheds and Owen [...]
SNP deputy leader to step down later this year, citing stress May 22, 2016 The deputy leader of the Scottish National Party is due to step down following revelations about his private life. Stewart Hosie was one of two married SNP MPs revealed to have had an affair with political journalist Serena Cowdy last week, alongside his colleague Angus MacNeil. Hosie has previously announced that is splitting from his wife, [...]
Cameron “misleading the public” over Turkey say Brexiteers May 22, 2016 David Cameron has been accused of misleading British voters in a growing row over the prospects of Turkey joining the EU. Cameron appeared on Peston on Sunday earlier today to refute the claims of armed forces minister Penny Mordaunt, who had earlier claimed that Britain would not be able to prevent Turkey from joining the [...]
Now NHS boss speaks out on Brexit risks May 22, 2016 "When the British economy sneezes, the NHS catches a cold," was the stark warning as the boss of the NHS waded into the Brexit debate on Sunday morning. The chief executive of the National Health Service Simon Stevens was appearing on the BBC's Andrew Marr show to discuss its financial problems after new figures last week revealed [...]
Prices will go up: Retail bosses issue Brexit “catastrophe” warning May 22, 2016 Retail heavyweights have come out against Brexit, warning that leaving the European Union would be a "catastrophe" for Britain and a "massive shock to the system". The former bosses of four of Britain's biggest retailers – Tesco, Sainsbury's, M&S and B&Q – have warned Brexit will cause prices to rocket, a spike in inflation, job losses and the pound [...]
Two bookies slash odds of UK “In” vote in EU ref to shortest so far May 21, 2016 William Hill and Ladbrokes are offering the shortest odds to date for Britain staying in the European Union, as people think it's increasingly likely the UK will remain. The two bookies cut their odds on Britain staying in the EU to 1/6, leaving punters with only £1 in profit for every £6 wagered. Telephone and online polls [...]
Labour derides London housing costs as “biggest single blight” on city May 21, 2016 Labour launched a stinging attack on London housing costs, describing them as the "single biggest blight on this city". Speaking at a conference to set out Labour's new vision for the economy, shadow chancellor John McDonnell promised to help people "who are at the mercy of an unforgiving, unrestrained housing market and landlords". Read more: Shadow chancellor [...]
Chancellor George Osborne warns again Brexit will hit house prices May 21, 2016 Chancellor George Osborne again warned Brexit will hit house prices, as an immediate economic shock hits financial markets. Speaking at the G7 finance ministers’ meeting in Japan, he said: "There would be a hit to the value of people’s homes by at least 10 per cent and up to 18 per cent … first-time buyers are hit because mortgage rates [...]