Hunt to unveil post-Brexit Big Bang 2.0 for UK financial services industry December 8, 2022 Jeremy Hunt will finally unveil the government’s plans to shred EU financial services laws today as he proposes a package to boost the City’s global competitiveness post-Brexit. Hunt will deliver the landmark announcement in Edinburgh this morning, with the chancellor set to drop Solvency II capital requirements on insurance firms and ease current bank ring-fencing [...]
Big Bang 2.0? Smart post-Brexit reforms can put power in the country’s engine December 8, 2022 It may be a transparent nod to the geographical spread of the UK’s financial services industry, but the fact the Chancellor is delivering his thesis on the country’s post-Brexit regulatory regime north of the border is worth noting. The phrase Big Bang 2.0 has been ditched – it’s now the Edinburgh Reforms – but the [...]
Whitty report says toxic air pollution down 44 per cent in central London thanks to ULEZ December 8, 2022 London has emerged as a “world leader” in tackling toxic air pollution according to a new report by chief medical officer Sir Chris Whitty. His latest findings reveal the dangers of pollution in the capital, but show Nitrogen Dioxide (No2) concentrations by roads are down a fifth in inner London and 44 per cent in [...]
‘I won’t soak the City’: Starmer promises not to hike bank taxes if elected December 8, 2022 Sir Keir Starmer has promised not to carry out a tax raid on the banks if he is made Prime Minister as he continues his electoral pitch to the City. The Labour leader said he would not slap a windfall tax on City financial services firms or hike the banking surcharge during Labour’s business conference [...]
Labour MP Conor McGinn suspended after internal complaint December 8, 2022 Labour has suspended MP Conor McGinn from the party pending investigation. It is understood the St Helens North MP was suspended after a complaint was lodged through the party’s independent process. According to the Guardian, McGinn said the claims were “entirely unfounded”. It has been confirmed he’s been administratively suspended as a member of the [...]
Tories suspend whip from MP Julian Knight ‘following complaint to Met Police’ December 7, 2022 The Conservatives have suspended the whip of MP Julian Knight following a complaint to the Met Police. A spokesperson for the Government Chief Whip said: “Following a complaint made to the Metropolitan Police this evening, we have removed the Whip from Julian Knight MP with immediate effect.” He is the the MP for Solihull and chair [...]
Rachel Reeves: Macron is ‘eating UK’s lunch’ when it comes to global investment December 7, 2022 French President Emmanuel Macron is “eating the UK’s lunch” when it comes to attracting global investment, shadow chancellor Rachel Reeves has said. Reeves today told City A.M. that France was stealing investment away from British start-ups post-Brexit, with the shadow chancellor promising to help pension funds unleash billions of pounds of long-term capital into the [...]
Exclusive: Treasury tax raid to drag 200,000 Londoners into higher rate December 7, 2022 NEW analysis suggests that almost a quarter of a million Londoners will be dragged into the higher rate tax band as a result of Jeremy Hunt’s decision to freeze income tax thresholds in the Autumn Statement. Some 213,165 workers in London, and 122,543 more across the wider south-east, will paying the 40 per cent rate [...]
UK and Japan join forces on chip supply with Taiwan ties feeling ‘risky’ in China conflict December 7, 2022 The UK and Japan have pledged to improve the resilience of their semiconductor supply chains, as part of a freshly inked partnership between nations. In a statement today, the UK government said the partnership – which will oversee a combined IT sector worth more than £406bn – will further cement foundations for trade and investment [...]
Matt Hancock to stand down at the next election December 7, 2022 Matt Hancock will stand down at the next election, with the ex-health secretary telling Rishi Sunak that the Tories “must now reconnect with the public we serve”. Hancock said he had “discovered a whole new world of possibilities which I am excited to explore”, just weeks after he came third on I’m a Celebrity…Get Me [...]