Another Andrew Bailey misstep was the last thing markets needed October 12, 2022 Andrew Bailey’s tenure as Bank of England governor has not been a happy one. Marked first by the pandemic, it has been defined by rising prices, an economic slowdown and now a crisis of sorts in financial markets. Amidst all of this, the one thing the City would look for would be reliable and consistent [...]
Advertising regulator says govt broke rules with series of articles in local papers October 12, 2022 The advertising regulator has ruled the government broke the law with a series of advertorials in local newspapers. The Department of Levelling Up, Housing and Communities published pieces on March 13 on the websites of the Grimsby Telegraph, Derby Telegraph, Birmingham Mail, Leicestershire Mercury and Newcastle Chronicle, and on Cornwall Live and Wales Online. Labour [...]
Liz Truss: I ‘absolutely’ won’t cut UK public spending October 12, 2022 Liz Truss has said she “absolutely” will not cut government spending, despite expectations the chancellor is set to bring forward measures to balance the Budget this month. The Prime Minister told the House of Commons that “what we will make sure is over the medium-term the debt is falling” and that “we will do that, [...]
27 Insulate Britain protestors arrested during attempt to block Parliament Square October 12, 2022 Protestors are blocking the roads to Parliament Square, holding aloft banners and glueing themselves to the tarmac to prevent the police from removing them.
Truss to label China an official ‘threat’ to the UK for the first time October 12, 2022 Liz Truss is set to label China as a threat to the UK for the first time in a major shift in the government’s diplomatic position. Last year’s Integrated Review of foreign and defence policy under Boris Johnson said Russia was an “acute and direct threat”, but that China was only a “systemic competitor”. The [...]
UK economy on recession cliff edge as GDP unexpectedly shrinks October 12, 2022 The UK is staring over a recession cliff edge, caused by soaring inflation and rising interest rates, that will be lengthened by turmoil in financial markets, official figures published today revealed. The economy unexpectedly shrank 0.3 per cent over the month to August, according to the Office for National Statistics (ONS). Economists had expected gross [...]
Post-Brexit deal with India could be derailed over Braverman’s ‘disrespectful’ migrant comments October 12, 2022 Home Secretary Suella Braverman’s claim that Indian migrants are the largest group who “overstay” their welcome in the UK could derail Britain’s post-Brexit trade deal with New Delhi. Indian ministers are said to be furious with her remarks as the agreement is reportedly “on the verge of collapse”. She aired concerns about the deal last [...]
Exclusive: Ex Tory chair Baroness Warsi says PM Liz Truss should call a General Election October 12, 2022 A former chair of the Conservative Party has said Prime Minister Liz Truss should call a General Election. Speaking exclusively to City A.M., Baroness Sayeeda Warsi said prime minister Liz Truss either “had to just carry on with the 2019 manifesto – or go to the electorate” upon entering Number 10. “Because neither of those [...]
CMA and food safety regulators ‘struggling to recruit’ post-Brexit, says MPs October 12, 2022 British food safety and competition regulators are “struggling to recruit and retain the skills they need to regulate effectively” post-Brexit, according to a Westminster committee of MPs. A new report from the cross-party Public Accounts Committee (PAC) today said some regulators need more staff post-Brexit to handle new responsibilities, leading to labour shortages. This has [...]
City minister defends ‘safety valve’ call-in power over financial regulators October 11, 2022 A proposed new power that allows Whitehall to overrule financial regulators will only be a “safety valve”, City minister Andrew Griffith has said. Griffith told a Westminster committee today that the new call-in power would only be used “sparingly” in the face of concerns that it will reduce the independence of the UK’s regulators. The [...]