No new Safe Harbour agreement: Experts warn of “absolutely enormous” disruption to business as EU and US fail to strike data transfer deal before deadline February 2, 2016 As EU and US negotiators failed their mission to reach a new landmark Safe Harbour agreement before the deadline, experts are warning of “absolutely enormous” risks to business. The deadline to strike a new data transfer regulation ran out yesterday, as talks reportedly hit a brick wall over EU citizens’ options in the event of [...]
Ted Cruz beats Donald Trump in Iowa caucus – but Democrat race is tight between Hillary Clinton and Bernie Sanders February 2, 2016 Ted Cruz has beaten Donald Trump for Republican candidacy in the crucial Iowa caucus last night – but the battle between Democrat candidates Hillary Clinton has come up surprisingly close. Cruz won 28 per cent of the vote in last night's primary, while Trump – who has in the past called Iowans "stupid" – took just 24 [...]
Mayoral elections 2016: Whether it’s Sadiq Khan or Zac Goldsmith, whoever takes over from Boris Johnson must maintain London’s momentum February 2, 2016 With less than four months to go to the London mayor election, it’s good news that all the main candidates have been keen to stress their support of business. Despite its reputation as a leading business centre, London cannot take its position as a truly global city for granted. London’s reputation has been hard won [...]
George Osborne is playing a dangerous game with the new Help to Buy London February 1, 2016 George Osborne is playing a dangerous game with the new Help to Buy London Back during the Autumn Statement, George Osborne announced with great pleasure that he would be introducing a London-specific Help to Buy scheme. The government are going to give a hand to struggling homeowners, to get on the first rung of a [...]
Britain’s top accountants say the Treasury does not have the financial expertise of the private sector February 1, 2016 A leading industry group has slammed the Treasury today, saying the government department is "not functioning as a modern finance industry". In a new report out today, the Institute of Chartered Accountants in England and Wales (ICAEW) says the Treasury needs major reforms and restructuring to "more effectively tackle the deficit, be more efficient in spending [...]
North sea oil and gas: Scottish government unveils funding to boost research and development February 1, 2016 The Scottish government today unveiled £12.5m funding to sustain research and development (R&D) in the embattled North Sea oil and gas industry, which has been pummelled by the oil price rout. Scottish Enterprise funding of £10m will help firms reduce risks associated with carrying out R&D. An extra £2.5m will enable them to draw on [...]
EU referendum: New research shows at least one in three Conservative MPs will back Brexit February 1, 2016 One in three MPs are still undecided on whether Britain should leave or remain in the European Union, according to a new poll out today from Ipsos Mori. The pollsters carried out the survey for the UK in a Changing Europe think tank, finding that a third of MPs said their vote in the referendum [...]
MPs on BIS Committee say government “lacks focus” when it comes to tackling low UK productivity February 1, 2016 An influential group of MPs has slammed the government over its efforts to boost Britain’s productivity, saying ministers’ plans “lack focus”. In a new report out today, MPs on the Business, Innovation and Skills (BIS) Committee said the government’s so-called productivity plan, first introduced last summer, “lacks clear, measurable objectives and largely amounts to an [...]
Freelancers feeling good again after government scraps tax plan February 1, 2016 Things are looking up for the UK’s growing freelance community, with confidence rising and a controversial tax plan scrapped. According to a new survey by the Association of Independent Professionals and the Self Employed (IPSE), 35 per cent of freelancers felt confident about their work prospects in the third quarter of 2015, compared with just [...]
London airport expansion: Sir Howard Davies, Sir Martin Sorrell, CBI, London First and others hit back at MPs’ request for more economic analysis of airport options January 31, 2016 Business groups have once again urged the government to push ahead with airport expansion, after an influential group of MPs opened the door to further delays by calling for more economic analysis of the costs and benefits of additional runways. In a letter today to chancellor George Osborne, Treasury Committee chair Andrew Tyrie attacked the [...]