Ignore the chancellor, we don’t need Chequers to end austerity October 16, 2018 I generally presume cynicism in politicians’ arguments. But Philip Hammond implying a Chequers-style relationship with the EU is needed to “end austerity” was shocking in its brazenness. Ahead of the October Budget, the chancellor has echoed Theresa May in suggesting that looser government spending is just around the corner. Their calculation seems to be that [...]
Brexit: 23 answers to investors’ questions October 16, 2018 | City Talk The UK’s scheduled departure from the EU is fast approaching. Many observers are hopeful for an orderly withdrawal. But plenty of potential pitfalls between now and Brexit-day which could result in a chaotic divorce. The only near-certainty at present is that the UK will cease to be a full member of the EU on 29 [...]
UK wage growth accelerates at fastest rate since financial crisis October 16, 2018 Employees received a bumper pay rise in the three months to the end of August, data from the Office for National Statistics (ONS) revealed today, showing wages have grown at their fastest rate since the financial crisis. Employees’ average weekly earnings received a bumper year-on-year rise of 3.1 per cent excluding bonuses, or 2.7 per [...]
Has the clampdown on spreadbetting platforms really protected traders? October 16, 2018 For years, spreadbetting companies enjoyed an easy ride. But this summer saw trading platforms enter a tough new era, as regulators began to weigh down on the industry. Recent weeks have seen some of the UK’s largest trading platforms bowing under the pressure, as the impact of strict new rules becomes clear. Introduced by the European [...]
Talk of a US recession in 2020 is a little premature October 16, 2018 Several analysts have come out of the woodwork in the past few weeks predicting not just a US growth slowdown, but the start of a recession in 2020. These calls were amplified after a week of stock market volatility. Bond vigilantes are pointing to rising real yields (that have been adjusted for inflation), while bear [...]
End of austerity not ‘compatible’ with eliminating deficit says Institute for Fiscal Studies ahead of Budget October 16, 2018 The government faces a stark choice between upholding Theresa May’s promise to “end austerity” or meet its target of eliminating the deficit, according to a detailed analysis by one the UK’s most trusted economic bodies. The Institute for Fiscal Studies (IFS) will today say that chancellor Philip Hammond will have to find an extra £19bn [...]
Europe’s banks are right – the EU must act to avoid a Brexit cliff edge disaster October 16, 2018 Retail king Lord Wolfson raised eyebrows at the weekend when he insisted that a no deal outcome to Brexit talks “would not be a disaster”. The Next boss was referring to the overall effect on trade and, politically, he articulated his point well – you have to be prepared for no deal in order to [...]
Fracking begins in the UK for the first time in seven years amid protests October 15, 2018 Fracking has begun in the UK for the first time since 2011 when it was halted after being linked with earth tremors. British shale gas company Cuadrilla confirmed today that it has started hydraulic fracturing operations at its exploration site in Lancashire The road leading to the site was closed for most of the day [...]
Think like a small business to solve the productivity puzzle October 15, 2018 Economists, some might argue, have a knack for making the vital sound dull, for making the immediate seem remote and abstract. There’s perhaps no better example of this than the much-discussed “productivity puzzle”. This “puzzle” often sounds a bit like one of those educational computer games you might try to occupy a particularly precocious five-year-old [...]
Downing Street: Theresa May will rule out a customs union if no Brexit deal is reached October 12, 2018 Downing Street said today that Theresa May would never agree to a permanent customs union with the EU, as the Prime Minister attempts to set cabinet ministers at ease over the Brexit negotiations. “The Prime Minister would never agree to a deal which would trap the UK in a backstop permanently,” a spokeswoman told the [...]