UK trade secretary to focus on boosting exports over signing new trade deals October 3, 2022 The new UK trade secretary has indicated she wants to concentrate more on boosting exports within current trade deals than signing new agreements. Kemi Badenoch told the Conservative party conference today that “trade deals are great, but it’s not the only thing” and that she wants to help businesses better navigate current agreements to boost [...]
‘What a day!’: Kwarteng says his plan created ‘turbulence’, but it’s ‘not irresponsible’ October 3, 2022 Kwasi Kwarteng has said he will focus on “delivering the major parts of our growth package” in the wake of his U-turn on tax cuts for the UK’s highest earners, while insisting his plans are “not irresponsible”. The chancellor moved to calm Tory party fears about the U-turn and said his mini-Budget 10 days ago [...]
Rees-Mogg brushes off U-turn on scrapping 45p tax rate as ‘just politics’ October 3, 2022 The government’s stunning decision to U-turn on its plan to slash taxes for the country’s highest earners has been described as “just politics” by business secretary Jacob Rees-Mogg. Rees-Mogg said at a Tory conference fringe event today that “it is a political reality that sometimes things you want to do don’t receive the approbation of [...]
IFS warns ‘massive spending cuts will still be needed’ despite Kwarteng U-turn October 3, 2022 The Chancellor’s U-turn on his plans to axe the 45p tax rate will do little to ease the pressure on the UK’s public finances and the mammoth spending cuts needed to get borrowing back on track, think tank experts have warned. Paul Johnson, director of the Institute for Fiscal Studies (IFS), said the about-turn on [...]
‘No one asked for this’: Dorries slams delays on Channel 4 sale, BBC licence fee and online safety bill October 3, 2022 Former Culture Secretary Nadine Dorries has slammed Liz Truss’ government for its inactivity surrounding the sale of Channel 4, the BBC licence fee review and online safety bill. Taking to Twitter, Dorries, who formerly backed Truss in the leadership race, wrote: “Widespread dismay at the fact that 3 years of work has effectively been put [...]
Gove says he’ll back government’s mini-Budget after 45p tax cut U-turn October 3, 2022 Michael Gove has said he will back the government’s mini-Budget in its current form, after Liz Truss and Kwasi Kwarteng U-turned on their plan to slash the top rate of Income Tax. The Tory big beast today said “there were lots of good things that they announced and some potentially interesting things”, after spending yesterday [...]
City of London defends redevelopment plans for Barbican October 3, 2022 A campaign group has slammed the “misinformed and misleading” data that has been used to justify demolishing two historic buildings in London’s Barbican. The City of London Corporation has submitted plans to demolish the Museum of London and adjacent office block Bastion House after raising concerns over the safety of the buildings. But a new [...]
London’s summer heatwave sparked plunge in footfall as Mayor warns against climate crisis October 3, 2022 The summer heatwave saw London visitors plunge as commuters swap the City for the shade, says London Mayor Sadiq Khan. Speaking at the Reuters IMPACT Conference later today, the Mayor will reveal that on 18 July, when temperatures in London exceeded 35 degrees, there were 385,640 daytime workers in central London, when 518,000 workers would usually be [...]
Kwarteng to U-turn on scrapping 45p tax rate: ‘We get it – we have listened’ October 3, 2022 Chancellor Kwasi Kwarteng will U-turn on scrapping the 45p tax rate amid opposition from his own MPs and former ministers. The government is to row back on the policy following vocal opposition from former cabinet ministers Michael Gove and Grant Shapps. On Sunday, the Prime Minister said she was “absolutely committed” to the policy. Posting [...]
Kwarteng has no option but to stay the course on tax plans October 3, 2022 A few weeks into her new role Liz Truss and her Chancellor Kwasi Kwarteng would have been forgiven for thinking that Tory conference would have been something of a party. After all, Tory party members favoured her candidacy by some margin – even if Conservative MPs were more enamoured by the now extremely quiet Rishi [...]