Truss refuses to commit to more tax cuts in apparent row-back on Kwarteng comments September 29, 2022 Liz Truss has refused to commit to more tax cuts in an apparent row back of earlier comments from Kwasi Kwarteng. Truss today told BBC London that it was important to be “fiscally responsible” and to “bring debt down over time”, after being asked if she would bring in more tax cuts. Truss and Kwarteng’s [...]
French Oil Giant TotalEnergies vows to have ‘no future with Russia’ September 29, 2022 TotalEnergies is ramping up investments in a bid to distance itself from Russia. The French oil giant has “no future with Russia”, said Patrick Pouyanné, chairman and chief executive, in a strategy update presented in New York on Wednesday. Instead, it will look more to Qatar and the US while escalating their production of liquified [...]
Qatar urged to investigate allegations of torture before death of UK tourism exec September 29, 2022 Qatari authorities have been urged to investigate alleged torture of a UK tourism executive before his death three years ago. Mark Bennett was found dead in December 2019 after being arrested 10 weeks earlier at the office of Qatar Airways, his employer. The Times lifted the lid on alleged horrific treatment the tourism executive [...]
City Of London Corporation elects business veteran Nicholas Lyons as 694th Lord Mayor September 29, 2022 The City of London has elected Nicholas Lyons as its 694th Lord Mayor. The father-of-four and veteran business leader was announced as the new head of the Square Mile today, taking over the year-long role from Vincent Keaveny. Lyons, who has worked in the City for more than 40-years, pledged to represent financial and professional [...]
Kremlin gets ready to annex four regions of Ukraine on Friday September 29, 2022 Press Association Russia on Friday will formally annex occupied parts of Ukraine where it held Kremlin-orchestrated “referendums” in which it claimed that residents had voted overwhelmingly to live under Moscow’s rule. The Ukrainian government and the West have denounced the ballots as illegal, forced and rigged. Russian President Vladimir Putin will attend a ceremony on [...]
Truss urged to clarify ‘false’ claim “nobody is paying fuel bills of more than £2,500” September 29, 2022 Prime Minister Liz Truss has been urged to clarify a reportedly false claim that “nobody is paying fuel bills of more than £2,500”. Fact-checking charity Full Fact and consumer champion Martin Lewis both warned Truss’ claim was incorrect, and that there was a risk “vulnerable elderly people” think they can keep heating on without paying [...]
Truss defends mini-budget as ‘the right plan’ in bruising local radio interviews September 29, 2022 Prime Minister Liz Truss said she was willing to take “controversial” steps to spur growth today as she refused to reverse her economic plans that have rocked financial markets this week.
Chief sec to the Treasury: ‘I’m not going to apologise’ for mini-budget – but ‘no one’s perfect’ September 29, 2022 The chief secretary to the Treasury has said he’s “not going to apologise” for the mini-budget, as he hits back at the International Monetary Fund’s criticism this morning. Chris Philp said he “respectfully disagrees” with the IMF, which said the tax cuts would create more inequality in Britain, while speaking on Sky News this morning. [...]
UK already in recession but market chaos will make it worse, KPMG forecasts September 29, 2022 The UK is already in a recession that is likely to be intensified by turmoil in financial markets, new forecasts published today reveal. Surging inflation – running at a 40-year high of 9.9 per cent – has squeezed households and businesses, forcing them to cut spending and likely steering the economy into reverse in the [...]
Truss and Kwarteng face Tory backlash as they refuse to back down over tax plan September 28, 2022 Kwasi Kwarteng and Liz Truss are facing open rebellion from parts of the Tory backbenches as MPs call for the pair to make a dramatic U-turn on their tax plan. Some Conservative MPs are already anonymously briefing to media outlets that the chancellor should be sacked, while one, Simon Hoare, broke cover to say the [...]