IFS urges Rishi Sunak not to raise taxes in March Budget February 16, 2021 Rishi Sunak’s March Budget should announce “well targeted” extensions to current emergency Covid support measures and avoid any tax rises, according to one of the UK’s largest economics think tanks. The Institute for Fiscal Studies (IFS) will today urge the chancellor in an online event to “secure the UK’s economic recovery” and “set out plans [...]
Eurosceptic politicians form new post-Brexit City lobby group February 16, 2021 A group of Eurosceptic City figures and politicians have created a new UK financial services lobby group in a bid to trumpet the sector’s success post-Brexit. The body, launched yesterday, is called the CityUnited project and it aims to “combat and negate the EU’s actions” by “promoting bold new initiatives to exploit the UK’s expertise in [...]
Government report calls for regulations bonfire to give UK a ‘post-Brexit dividend’ February 16, 2021 The UK should slash regulation and overhaul the competitions authority to give the economy a post-Brexit boost, according to a report commissioned by the government. The report, written by Tory MP John Penrose, calls for the government to create a “Brexit dividend” by “replacing bureaucratic EU rules with modern, digital equivalents”. Penrose’s report, commissioned by [...]
Boris Johnson: Rapid Covid tests will do the job of vaccine passports February 15, 2021 The Prime Minister has rubbished claims the UK will introduce vaccine passports for entry to places such as pubs and cinemas, insisting that rapid Covid tests will reopen “parts of the economy we couldn’t get open”. Speaking at a Downing Street press conference, Boris Johnson said: “Doing things within the domestic UK economy… what we’re [...]
Treasury Committee chair: ‘One-off wealth tax’ could patch the Covid gap in public finances February 15, 2021 The MP who leads the Treasury Committee suggested this morning that Chancellor Rishi Sunak should introduce a one-off wealth tax to help revive the country’s public finances. As the pandemic is tearing its way through public finances, the chair of the UK Treasury Committee, Mel Stride, said a one-off wealth tax may be an effective [...]
UK and EU plan post-Brexit Northern Ireland hotline for officials February 15, 2021 The UK and the EU are planning to create an emergency hotline for officials to discuss post-Brexit problems in Northern Ireland. European Commission vice president Maros Sefcovic said the Brexit treaty’s Northern Ireland protocol needed “day-to-day care” and that Brussels and London both wanted to de-escalate tensions. Tensions have escalated in Northern Ireland since the [...]
EU to allow UK data flow in boost for business and law enforcement February 15, 2021 Brussels will allow data to continue to flow from the EU to the UK after deciding that Britain had an adequate level of protection for personal information. A draft decision by the European Commission is expected to be approved this week, the Financial Times reported on Monday. The move will help with features of EU-UK [...]
UK to set up green finance research hubs in London and Leeds February 15, 2021 The UK government will set up a new green finance research centre based in London and Leeds to advise the private sector on sustainable investments. The £10m hubs will “provide world-class data and analytics to financial institutions and services such as banks, lenders, investors and insurers” to “better support their investment and business decisions by [...]
Treasury Committee calls for economic modelling alongside Covid lockdown roadmap February 15, 2021 Westminster’s Treasury Select Committee has called for the government to release economic and epidemiological modelling on Covid restrictions when Boris Johnson unveils his roadmap out of the lockdown. Committee chair and Tory MP Mel Stride wants chancellor Rishi Sunak to produce the combined modelling, known as epi-macro modelling, to provide businesses the economic and social [...]
UK hits 15m vaccine target by 15 February deadline February 14, 2021 The UK has reached its target of immunising 15m people by 15 February, with Boris Johnson saying the four groups most vulnerable to Covid have all been offered the vaccine in England. The Prime Minister labelled it an “extraordinary feat”. “In England, I can tell you we have now offered jabs to everyone in the [...]