Carney ignites recession row with Brexit warning May 13, 2016 Bank of England governor Mark Carney sparked an intense political row yesterday after he said that a vote to leave the European Union could plunge Britain into recession. Former chancellor Lord Lamont slammed Carney’s “unwise” choice of words, while two Conservative members of the influential Treasury Select Committee – which is appointed by Parliament to [...]
MPs warn that not enough is being done to protect consumers from mis-selling, and that the recently introduced pensions freedoms could spark a whole new scandal May 13, 2016 MPs are warning that the next financial scandal could be on the horizon, as too little is being done to address the cultural aspects that lead to wrongdoings, such as payment protection insurance (PPI) mis-selling, while a landmark pensions change has created new opportunities for such behaviours to flourish. A report released today by the Public Accounts Committee (PAC) [...]
Brazilian President Dilma Rousseff stands down ahead of impeachment trial May 12, 2016 Brazil's Senate has brought down President Dilma Rousseff, after they voted strongly in favour of putting the embattled politician on an impeachment trial. Following a marathon overnight debate, senators voted 55-22 to try Rousseff for breaking budget laws. The rules mean Rousseff has been suspended from office ahead of her trial. Read more: Rousseff's impeachment is Brazil's [...]
Europe postpones publication of 2017 draft budget as Brexit vote nears May 12, 2016 The European Union has pushed back the publication of its draft budget for 2017 – potentially until after the UK holds its referendum on whether to remain a member of the EU. The Budget was originally scheduled to be published on 25 May, but Politico reported this afternoon that it was now not likely to surface until [...]
Prime Minister David Cameron will name foreign firms that own property in the UK May 12, 2016 Strides taken by Prime Minister David Cameron to tackle international corruption have been met with applause from business and campaigning organisations alike, but with warnings that measures need to be thought out and more needs to be done. The Prime Minister plans to set up a register of foreign companies that own UK property, which the [...]
The UK government must remember to tackle corruption at home as Cameron’s anti-corruption summit gets underway in the wake of the Panama Papers May 12, 2016 The Prime Minister's invitation to representatives of other governments to attend an Anti-Corruption Summit in London looked like a good idea when he announced it a year ago. Before, that is, he chose to insult two of the guests. The gaffe has already drawn quick rebuttals from the two countries, with the Nigerian President claiming [...]
Sadiq Khan’s rent caps could benefit London landlords May 12, 2016 London’s newly elected mayor, Sadiq Khan, has already committed to making the London housing crisis a priority. He has announced a raft of policies aimed at helping the capital’s two million private renters, and one is attracting particular scrutiny and controversy – the introduction of a London rent cap. Few people doubt rents in London [...]
Former chancellor says Carney’s Brexit intervention could trigger an economic crisis May 12, 2016 Former chancellor of the exchequer Lord Lamont has warned Mark Carney that his Brexit warnings could spark an economic crisis. The Conservative politician, who is now part of the official campaign group, Vote Leave, said the governor of the Bank of England should choose his words more carefully as he dismissed Carney's claims that Brexit was the most significant risk [...]
British cities and regions need to seize the opportunity provided by HS2, says think tank May 12, 2016 British cities and regions should seize the opportunity provided by HS2 to generate economic growth, according to a new report. The study by the Independent Transport Commission found that there could be social and economic benefits brought by HS2, and that British cities should jump on the once-in-a-generation public infrastructure investment project. The reviewed current [...]
EU referendum: Brexit could plunge UK into recession, claims Bank of England governor Mark Carney May 12, 2016 A vote to leave the European Union could plunge the UK into recession, Mark Carney warned today. The Bank of England governor said the the effects of Brexit "could possibly include a technical recession" as the Bank said a vote to Leave would lead to a "material" slowdown in growth, lead to higher unemployment and higher [...]