MPs to be given power on picking future chief executives of the Financial Conduct Authority (FCA) April 19, 2016 MPs will be given the power to say yea or nay to the top role at the City watchdog, thanks to a legal amendment agreed on today. The proposed clause for the Bank of England and Financial Services Bill means that government will have to seek approval from parliament, particularly the Treasury Select Committee, for any future [...]
London mayoral election 2016: What do financial traders think will happen on 5 May? April 19, 2016 With just over two weeks until London elects its next mayor, polls are showing Sadiq Khan leading over Zac Goldsmith, with other candidates expected to finish some way behind the pair. But while Khan and Goldsmith are not a million miles apart in the polls – or indeed with bookmakers – they are with financial [...]
EU referendum: Remain campaign is boosted after government’s controversial leaflet is sent out April 19, 2016 With the EU referendum edging closer and closer the Remain campaign has witnessed a surge of support. The Remain camp has managed to persuade more voters of the merits of staying in the EU after the government's controversial £9m leaflet was sent to households across the UK. Indeed, the latest ORB poll has found that [...]
EU referendum: Michael Gove says there will not be an economic shock from Brexit in contrast to IMF, WTO and World Bank April 19, 2016 The International Monetary Fund, World Trade Organisation and World Bank are all wrong according to justice secretary Michael Gove, who has said there would be no economic shock after a Brexit vote. Speaking ahead of his EU intervention later, Gove said that there would not be a short-term shock from Britain leaving the EU, nor [...]
Osborne sparks a Tory backlash: Furious MPs blast Treasury report as chancellor George Osborne claims he’s given Britain the facts on EU referendum April 19, 2016 The Treasury's forecasts that UK households will be £4,300 worse off a year by 2030 if we leave the European Union were slammed by eurosceptics yesterday, with MPs calling the chancellor’s report “pathetic” and “desperate”. The split between pro- and anti-EU members of the Tory party widened into a chasm after the Treasury’s analysis claimed that a [...]
Meeting adjourned: Public Accounts Committee slams Home Office representative for turning up to meeting about confiscation orders seemingly underprepared April 18, 2016 The Public Accounts Committee (PAC) criticised "disappointing" progress on confiscation orders today, before adjourning a meeting early after a Home Office representative did not appear ready to discuss previously agreed points. The PAC took evidence from Mark Sedwill, permanent secretary at the Home Office, Mick Creedon, chief constable of Derbyshire Police and national lead officer for Serious and Organised Crime, [...]
How Brexit would affect the UK’s pharma, auto, financial services, digital, professional, steel and aerospace sectors, according to the Treasury April 18, 2016 The Treasury's 200-page report on the impact of a Brexit on the UK economy looks at exactly how bad things could get for certain sectors. You might not agree with it, but this is what the government's bean counters estimate will happen to some of the country's biggest and most important industries. Pharma The sector, [...]
EU referendum: Treasury’s Brexit claims rubbished by Vote Leave MP John Redwood April 18, 2016 Conservative MP and Vote Leave campaigner John Redwood has rubbished the Treasury's claims that a Brexit would cost each household £4,300 a year as "absurd". Last night it emerged the government department's analysis into the impact of the UK leaving the European Union – which was published today – would show that Britain's national income could be six [...]
EU referendum: This is what the Treasury thinks will happen if we vote for a Brexit April 18, 2016 A day after revealing its top line (and allowing plenty of time for the pro-Brexit camp to offer their arguments against it), the Treasury has released its 200-page report into the impact leaving the European Union will have on the UK. In it, the government department argues that whichever way you cut it, "the UK’s [...]
Dilma Rousseff impeachment moves up to senate after congress votes to remove Brazilian president April 18, 2016 Brazil has taken a step closer to the impeachment of its President Dilma Rousseff, with more than two-thirds of the congress voting for the case to be taken to the senate. The vote, which was overseen by lower house speaker and political rival Eduardo Cunha, ended late on Sunday night with 367 of the 513 deputies [...]