Bank of England warns EU bonus cap has increased risk of instability in the financial sector December 16, 2015 The EU bonus cap has increased the risk of instability in the financial sector, Bank of England researchers said yesterday. Chancellor George Osborne is being urged to press the EU on removing rules capping bankers’ bonuses after the Bank called the policy “counterproductive”. The Bank said that the cap, which restricts bonuses to 100 per cent of [...]
EU referendum: New Open Europe poll shows David Cameron’s renegotiation efforts will have “huge impact” on Brexit vote December 16, 2015 A new poll out today shows that Prime Minister David Cameron’s renegotiation efforts with the European Union could have a “huge impact” on the EU referendum, putting fresh pressure on Cameron just one day before he heads to Brussels to make his case to EU leaders. The ComRes poll, conducted for the think tank Open Europe, [...]
EU referendum odds: Chances of Britain leaving Europe have never been higher as bookie’s Brexit odds slashed December 15, 2015 The chances of Britain leaving the EU have never been higher as bookies slashed the odds on a Brexit. Ladbrokes odds on Britain making an exit after a referendum, expected to take place next year, were cut from 7/2 from 11/8 within the past three months. The chances of Britain leaving Europe now stand at an [...]
UK businesses’ tax burden rises despite chancellor George Osborne’s Osborne’s cuts to corporation tax December 15, 2015 Britain's biggest businesses paid £80.5bn in taxes this year, up from £80bn in 2014, with a string of new measures expected to batter firms still in the pipeline. Figures from accountancy giant PwC – based on a survey of FTSE 100 finance directors, large private companies and multinationals – show that the total tax rate, a [...]
New EU data protection rules could ban teenagers from social media services like Facebook, Instagram and Snapchat December 14, 2015 EU lawmakers are about to introduce new data protection laws that would require parents to approve their children’s use of social media and chat apps. With hours to go before the final discussions of the new law begin tomorrow, a last-minute change has taken centre-stage, with critics arguing teenagers are being “banned from the internet”. [...]
EU referendum: former Polish foreign minister Radek Sikorski says benefit tourism is propaganda while mayor of London Boris Johnson pushes for UK opt-out from EU open borders December 14, 2015 Former Polish foreign minister Radek Sikorski hit out at the British government’s proposals to curb welfare benefits for European migrants today, telling an audience in London that so-called benefits tourism is “propaganda”. “This issue of benefits tourism has been set up in the public domain,” he said. “The figures don’t confirm it. “We had 300,000 [...]
Labour and Lib Dem peers could force a vote to defeat government on “reverse burden of proof” in Senior Managers Regime December 14, 2015 Labour and Lib Dem peers could force a vote tomorrow to reject the government’s plans to abandon the so-called reverse burden of proof in new financial regulation. The Treasury had originally proposed a “guilty until proven innocent” burden on executives scrutinised under the new Senior Managers & Certification regime, which is set to go into effect [...]
Number 10 refuses to deny reports that is considering nationalising Rolls-Royce December 14, 2015 Downing Street fuelled speculation that the government is considering taking part of Rolls-Royce back into public ownership today when the Prime Minister’s official spokeswoman refused to deny reports about a possible nationalisation. When asked about a report in the Financial Times that ministers were considering nationalising the nuclear submarine business of the manufacturing giant, the [...]
Is Labour leader Jeremy Corbyn right – when it comes to kickstarting the economy, is it time for a people’s QE? December 14, 2015 This is a big week for capitalism. In the next few days, the US Federal Reserve will finally start to remove its accommodative post-2008 crisis policy by pulling money out of markets. With asset markets buoyant and the American jobs market seemingly strong, policy-makers should be surely saying ‘job well done’? But, on the ground, [...]
EU referendum: Immigration row brews ahead of key UK-EU talks December 14, 2015 Pressure is mounting on Prime Minister David Cameron ahead of a crucial two-day meeting with European leaders this week. Cameron’s efforts to reform Britain’s relationship with the European Union are expected to come into sharp focus in Brussels on Thursday at the European Council, where leaders from all 28 member states are scheduled to discuss the reform [...]