British Chambers of Commerce: “lazy assumptions” guide MPs’ decisions November 5, 2015 A leading business group has launched an attack on prevailing wisdom in Westminster, saying that “lazy assumptions” guide government decision-making. In a new report out today, the British Chambers of Commerce (BCC) questions popular conceptions about the role of public debt, productivity, education spending, infrastructure projects, trade policies and other business-focused initiatives, saying there is [...]
Resolution Foundation: Treasury could stop tax credit cuts and still run surplus November 5, 2015 The Treasury could reverse plans to cut tax credits and still meet its goal of eliminating the deficit, according to a new report out today from the Resolution Foundation. The report suggests five policy changes that would raise significant revenue for the government, including slowing the rate of increase in the personal allowance by tying [...]
Sinai plane crash: British government grounds all flights to and from Sharm el-Sheikh November 4, 2015 The British government has grounded all flights from Sharm el-Sheikh to the UK, blaming security concerns following the crash of Metrojet flight 9251 to St Petersburg on Saturday. Prime Minister David Cameron chaired a COBR meeting last night, where ministers agreed to temporarily suspend flights to and from Sharm, to work urgently with airlines and the Egyptian authorities to [...]
The UK needs a federal system of governance and not English votes for English laws, says the Institute of Economic Affairs November 4, 2015 The United Kingdom should develop a federal system of governance with limited responsibility for the UK government, according to the Institute of Economic Affairs (IEA), which said English votes for English laws (EVEL) is no solution to the problems caused by devolution. This system of government would give more powers to individual countries – Scotland, Wales, [...]
Draft Investigatory Powers Bill is “a significant departure” from Snooper’s Charter, says home secretary Theresa May, but includes internet records storage November 4, 2015 The government's Draft Investigatory Powers Bill includes a provision where everyone in Britain will have their internet activity stored for a year by service providers. The Bill, home secretary Theresa May told the House of Commons, will not mean security services will have access to people's full web browsing history. The powers will mean security [...]
EU referendum: Morgan Stanley and Citi UK bosses issue stark warnings over Brexit November 4, 2015 The City could face severe backlash in the event of a so-called Brexit, senior investment bankers at Morgan Stanley and Citi have warned. “If Britain were to leave Europe you would see a significant backlash against London as a financial centre,” Morgan Stanley International chief executive Colm Kelleher said yesterday. Citi’s UK country officer James [...]
Investigatory Powers Bill: Reading someone else’s post is illegal, why should it be any different online? November 4, 2015 Today’s Investigatory Powers Bill would provide security services with the licence to “snoop” on private communications and browsing history for the first time. It gives provision for access to personal web and phone data using bulk collection powers. The home secretary has been at pains to highlight how the contentious elements of the “snoopers charter” [...]
Public Accounts Committee: Taxpayers still being let down by HMRC, with low levels of prosecutions for tax evasion November 4, 2015 HM Revenue & Customs (HMRC) is still failing UK taxpayers, the Public Accounts Committee (PAC) has argued in a report released this morning. Although PAC’s Sixth Report of 2015-16, which examines how HMRC performed during 2014-15, praises the UK’s tax authority for increasing taxes collected while cutting running costs over the last five years, it [...]
Morgan Stanley analysts: There’s a one in three chance of Brexit – which could lead to recession, a divided Conservative party and second Scottish independence referendum November 4, 2015 There is a one in three chance of the United Kingdom voting to leave the European Union, according to analysts at Morgan Stanley, who believe an "out" vote could lead to recession, rising inflation and uncertainty for the UK. The investment bank has placed a 35 per cent chance on the UK voting to leave the EU in [...]
Prime Minister’s Questions: Labour leader Jeremy Corbyn hammers David Cameron on tax credits again November 4, 2015 In this week's episode of Prime Minister's Questions, Labour leader Jeremy Corbyn grilled Prime Minister David Cameron on tax credit changes again. Read more: David Cameron's first PMQs in full Tory goverment: The bunfight returns Corbyn said he had asked Cameron the same question six times last week and the Prime Minister failed to give him [...]