UK will not diverge far from EU in Brexit rules bonfire, says Treasury official May 31, 2022 The Treasury’s chief of financial services looked to play down the severity of the UK’s planned post-Brexit bonfire of financial regulation today, saying the EU’s financial rules shared the same goals and were designed in part by UK lawmakers.
Partygate: Minister says people want ‘professionalism and competence’ from government May 31, 2022 Brits need to see the government display “professionalism and competence” in the wake of the partygate scandal, trade minister Penny Mordaunt has told City A.M. Mordaunt, who was touted in January as a potential future Tory leader, said “the really essential issue [about the Gray report] is about our ability to restore trust” and to [...]
Exclusive: ‘Covid killed more people than all other catastrophes in the past half century,’ says climate sceptic Bjorn Lomborg May 31, 2022 Bjorn Lomborg is President of the Copenhagen Consensus and Visiting Fellow at Stanford University’s Hoover Institution. Below he shares his views on the latest UN climate report in a UK exclusive for City A.M. A new United Nations report has revealed the disturbing news that the number of global disasters has quintupled since 1970 and will increase by [...]
UK unveils long-awaited corporate reporting and audit reforms May 31, 2022 The UK has unveiled its long-awaited audit regime overhaul, with the government announcing a new regulator to ensure oversight of the largest private companies. The Financial Reporting Council will be replaced by the new Audit, Reporting and Governance Authority (ARGA), funded by a new levy on industry, which will have oversight of unlisted companies with [...]
Johnson and Sunak to give joint speech on post-Brexit insurance reforms May 31, 2022 Boris Johnson and Rishi Sunak are preparing to give a joint speech on planned post-Brexit reforms to the EU’s Solvency II insurance regulations. The speech will be concentrated around the UK’s opportunities post-Brexit and will come after the government’s plan to scrap a series of EU regulations on the City was announced in the Queen’s [...]
30,000 UK hotel rooms are being requisitioned by Home Office every day to house asylum seekers May 31, 2022 UP to 30,000 hotel rooms across the UK are being requisitioned by the Home Office every day to house asylum seekers waiting for their claims to be processed. A total of 37,000 asylum seekers are currently in hotel accommodation, at a cost to the UK taxpayer of almost £5m a day, according to a GB [...]
Tony Blair: Ditch the expensive ‘raincoats’ and just cut energy bills in half with mandatory green homes May 31, 2022 Free energy plans should be offered to every home in the UK to lower emissions while reducing energy bills before making them mandatory in the mid-2030s, according to a report by the Tony Blair Institute, shared with City A.M. this morning. The recommendation is one of a number of measures the report says could halve [...]
Boris Johnson’s political life getting more difficult by the hour as letters of no confidence from Tory MPs pile up fast May 31, 2022 Tory whips are said to be discussing how to fight back if rebels trigger an all-important confidence vote as letters of no confidence in prime minister Boris Johnson are piling up fast. A steady stream of Tories have backed a ballot to decide the PM’s future, or called for Mr Johnson to step down, with [...]
Government dinner: Capital’s leaders call for end of “anti-London” rhetoric in keynote speeches May 31, 2022 London’s most high-profile leaders last night called for a reset of relations with central government in speeches at the Mansion House. The City’s elected chief – the Lord Mayor of London Vincent Keavney – told business and political leaders at the London Government Dinner that the words “metropolitan” and “London” have been used “as though [...]
Leaders right to call on government to reset relationship with London May 30, 2022 Londoners are not typically known for their patience, but in truth the leaders of this city have shown a remarkable ability in recent years to bite their tongue amid unprecedented attacks on the capital. That patience appears finally to have worn thin, at least judging from last night’s speeches at the Mansion House from both [...]