Hunt looks at business rates ‘cliff edge’ ahead of fiscal statement November 8, 2022 Jeremy Hunt will make a tough decision on planned business rates hikes next week as business groups warn of “an existential threat” coming in April. British firms are facing a near £3bn annual hike in business rates next year if inflation stays above 10 per cent, according to Altus Group. Commercial properties will have their [...]
Sunak: We must ‘go faster’ on climate change after Putin’s Ukraine invasion November 7, 2022 Rishi Sunak told world leaders today that Vladimir Putin’s invasion of Ukraine was “a reason to go faster” on switching to renewable energy. The Prime Minister told the Cop27 climate summit that green energy is a “fantastic source of new jobs and growth”, while vowing to stick to the UK’s climate promises from last years’ [...]
Rishi Sunak torpedoes Boris Johnson’s Britannia ship as £250m plans sink to the bottom of the Brexit pond November 7, 2022 As part of government efforts to cut spending, a £250m plan to build a successor to the Royal Yacht Britannia has been scrapped, the Ministry of Defence confirmed this afternoon. The national flagship plan was sunk by Rishi Sunak’s administration as Whitehall braced for cuts in the November 17 autumn statement by Chancellor Jeremy Hunt. [...]
Boris Johnson tells leaders at Cop27 to not ‘to go weak on net zero’ November 7, 2022 Boris Johnson has today told world leaders that now is “not the moment to go weak on net-zero” at the Cop27 climate summit in Egypt. Referencing the global energy crisis, the former Prime Minister said “much damage has been done in just one year to our common purpose of tackling man-made climate change” but that [...]
Nervous markets scratch their heads over lockdown pain due to confusing China Covid policy November 7, 2022 Despite a big relief rally at the back end of last week, US markets still couldn’t reverse the losses of the previous three days, closing lower for the first time in three weeks, although for European markets it was a somewhat different story. The DAX finished higher for the fifth week in succession, posting its [...]
UK minister travels to Taiwan in move that may inflame China tensions November 7, 2022 A UK minister will hold trade talks in Taiwan today in a move that may inflame fresh tensions with Beijing. Trade minister Greg Hands will meet with Taiwan President Tsai Ing-wen during the two-day trip to Taipei as the UK tries to close a post-Brexit deal with the island nation. The UK does not recognise Taiwan’s [...]
Hunt faces potential Tory backlash as he draws up plans to raise £50bn November 6, 2022 There are growing government fears about a potential Tory backlash against Jeremy Hunt’s fiscal statement as he looks to find ways to raise £50bn. Hunt will raise taxes and cut future real-terms spending in his 17 November autumn statement, with the chancellor looking at proposals to freeze Income Tax thresholds as a part of a [...]
Sunak to raise imprisoned British citizen to Egypt’s leaders at Cop27 November 6, 2022 Rishi Sunak has vowed to “raise” the case of imprisoned British citizen Alaa Abd El-Fattah with Egypt’s leaders during next week’s Cop27 climate summit. The Prime Minister wrote to the family of the jailed writer, who is on a hunger and water strike, to tell them he was “totally committed to resolving [his] case” and [...]
Whitehall launches investigation into ‘profiteering’ by energy firms November 6, 2022 Whitehall officials have launched a probe into alleged profiteering by energy firms, with claims they are not passing on the benefits of recent government interventions. The government last month launched a six-month energy price cap for businesses to help them survive the continued increases in global energy prices. The Sunday Times reports that the Department [...]
Global food prices drop to lowest levels since invasion of Ukraine November 5, 2022 Global food prices have fallen to their lowest levels since Russia’s invasion of Ukraine, UN data shows. Food prices have fallen back down to levels last seen at the start of 2022, before Russia’s February invasion of the breadbasket of Europe caused food prices to surge, data from the United Nation’s Food and Agriculture Organization [...]