Liz Truss: New government must demonstrate that politics can deliver September 7, 2022 Some time ago in an editorial meeting at City A.M.’s offices, just after the discussion of another major UK infrastructure project dumped on the back-burner, one of our more cynical staff members suggested that it might not be all bad for Britain to enjoy a benign dictatorship for a few years, driving through necessary but [...]
Audit watchdog’s Birmingham staff relocation plans still to be decided September 7, 2022 Ministers have not yet come to a decision as to whether staff at the Financial Reporting Council (FRC) will be asked to relocate to Birmingham following the launch of the UK’s new audit watchdog, City A.M. understands. Staff were told that Birmingham had been picked as the home of the UK’s new Audit, Reporting Governance [...]
New justice secretary Brandon Lewis faces calls to ‘open negotiations’ with barristers September 7, 2022 Former secretary of state for Northern Ireland Brandon Lewis is set to succeed Dominic Raab as the UK’s new justice secretary. The 51-year-old MP for Great Yarmouth is set to face immediate pressure from striking barristers following calls from the chair of the Criminal Bar Association for “substantial positive movement” from the government. The appointment [...]
Liz Truss energy price freeze would peg inflation, BoE chief economist says September 7, 2022 LIZ Truss’s plan to freeze energy prices would prevent inflation from scaling to its highest level since 1980, but interest rates may have to stay higher for longer, the Bank of England’s top wonk said today. Huw Pill, the monetary authority’s chief economist, told the commons treasury committee that the new prime minister’s cost of [...]
North Sea body and unions warn offshore workers against wildcat strikes September 7, 2022 The UK's leading North Sea body has warned against wildcat strikes tomorrow, as have unions including GMB, RMT and Unite.
Truss confirms opposition to energy windfall tax to fund £100bn+ package September 7, 2022 Liz Truss has confirmed she will not slap a new tax on North Sea oil and gas producers to pay for her £100bn+ package of support to households and businesses. Labour leader Sir Keir Starmer said during Prime Minister’s Questions (PMQs) that Truss’ plan to increase borrowing to fund the emergency package is akin to [...]
Kwarteng tells City chiefs that UK borrowing must increase to pay for energy package September 7, 2022 Kwasi Kwarteng has today told City chiefs that short-term UK borrowing must increase to pay for a £100bn+ energy package, but that “fiscal discipline” will return soon. The new chancellor said in a meeting with financial services executives that the government is “committed to taking decisive action to help the British people now”, but that [...]
Meet Liz Truss’s top team: Long-term ally Kwasi Kwarteng to hold UK’s purse strings as Chancellor September 7, 2022 Following yesterday’s Cabinet reshuffle, City A.M. introduces you to some of Liz Truss’s key ministers. Who are they? What has their journey been so far? Also check out the new Home Secretary, Suella Braverman, the new Foreign Secretary, James Cleverly as well as the new Business Secretary, Jacob Rees-Mogg. Britain’s new Chancellor Kwasi Kwarteng has the job [...]
Meet Liz Truss’s top team: Who is Britain’s new Foreign Secretary, old Boris ally James Cleverly? September 7, 2022 Following yesterday’s Cabinet reshuffle, City A.M. introduces you to some of Liz Truss’s key government ministers. Who are they? What has their journey been so far? Read here about the new Chancellor, Kwasi Kwarteng, and the new Home Secretary, Suella Braverman as well as the new Business Secretary, Jacob Rees-Mogg. An old ally of Boris [...]
Meet Liz Truss top team: Zooming in on UK’s new business secretary, Brexiteer City investor Jacob Rees-Mogg September 7, 2022 Following yesterday’s Cabinet reshuffle, City A.M. introduces you to some of Liz Truss’s key ministers. Who are they? What has their journey been so far? Check out the new Chancellor Kwasi Kwarteng, the new Home Secretary Suella Braverman and the new Foreign Secretary, James Cleverly. As the country heads towards a lengthy period of recession, [...]