EU referendum: Berenberg economists predict Brexit could cause recession, a run on sterling, David Cameron’s resignation and another Scottish IndyRef March 14, 2016 You wake up on the morning of 24 June, the day after the UK went to the polls for the EU referendum, tentatively draw the curtains and what do you find. Big Ben submerged as the Thames breaches its barriers? Earthquakes and tornadoes ripping up the Home Counties? Horses eating each other? A version of that is [...]
Budget 2016: Institute of Fiscal Studies’ Paul Johnson says budget cuts may not materialise March 14, 2016 Chancellor George Osborne has indicated he will announce more cuts in his Budget, but these cuts may never materialise, director of the Institute of Fiscal Studies Paul Johnson has said. Yesterday the chancellor indicated be may have to announce cuts worth up to £4bn by the end of this parliament when he delivers his Budget [...]
EU referendum: Travel association Abta says uncertainty after Brexit vote would likely weaken the pound making holiday and business travel abroad more expensive March 14, 2016 The period of uncertainty following a Brexit vote would have an impact on the pound, making the cost of holidaying more expensive, as well as adding costs for UK businesses to buy abroad, the UK's largest travel association has said. In a report titled What Brexit might mean for UK Travel, Abta and Deloitte found [...]
Budget 2016: Industry groups warn chancellor George Osborne against hiking insurance premium tax as EY Item Club urges against planned £4bn in spending cuts March 14, 2016 Leading industry groups are pleading with the Treasury to give British businesses a break at this week’s Budget, as chancellor George Osborne eyes up a major tax hike on insurance premiums and higher tax revenues from Britain’s biggest banks. The AA warned over the weekend that the chancellor is considering raising the basic rate of [...]
Bye-bye Heathrow expansion? Justine Greening predicts a third runway will be grounded by David Cameron March 13, 2016 A cabinet minister has taken a surprisingly outspoken stance on the UK's airport expansion, predicting that the Prime Minister will ditch plans for a third runway at Heathrow. International development secretary and west London MP Justine Greening made the comments despite ministers being warned against making any statements on the issue. The government has delayed making a decision on what form airport [...]
Prime Minister David Cameron’s former Europe adviser, Tom Scholar, appointed as permanent secretary to the Treasury March 11, 2016 Prime Minister David Cameron has appointed his former adviser on European and global issues as permanent secretary to the Treasury, it said today. In a statement it said Tom Scholar, who was also head of the European and global issues secretariat in the Cabinet Office, had been appointed after an "open competition". George Osborne called [...]
Hinkley Point C nuclear power station: EU gives EDF and China’s CGN okay for £18bn project March 11, 2016 The European Union's competition authority has given French utility giant EDF and Chinese nuclear firm CGN regulatory approval to build the controversial Hinkley Point C project. Hinkley is being financed by the two companies and will cost around £18bn. However, there's rising concern over whether EDF's already stretched balance sheet will be able to absorb this. "The [...]
EU referendum: Former British Chambers of Commerce (BCC) director general John Longworth reportedly joining eurosceptic Vote Leave campaign March 10, 2016 Former British Chambers of Commerce (BCC) boss John Longworth is reportedly joining Vote Leave, less than one week after his controversial resignation from one of Britain's biggest business groups. Sky News reported this afternoon that Longworth attended a Vote Leave campaign meeting today and agreed to take on a formal role with the eurosceptic group. [...]
EU referendum: Prime Minister David Cameron admits the EU needs more reform as he makes positive case for EU after criticism over “project fear” March 10, 2016 Prime Minister David Cameron has admitted that the European Union needs more reform as he laid out the benefits of the UK staying in the EU, after claims the pro-Remain campaign had resorted to project fear. The Prime Minister said: "I'm the first to say there needs to be further reform of the EU. My renegotiation isn't end [...]
Labour MP Dan Jarvis sets out vision for Labour as speculation of leadership mounts March 10, 2016 Backbench Labour MP Dan Jarvis, who is speculated to be a potential challenger to Jeremy Corbyn, has laid out his vision for the British economy today. The speech has been touted as start of Jarvis' bid for the Labour leadership. Giving a speech at the think tank Demos, the former paratrooper argued that New Labour failed [...]