South Africa posts record trade surplus after exports of precious metals and stones sky-rockets June 30, 2016 South Africa reported a whopping R18.7bn (£928m) trade surplus today, outdoing expectations. Exports rose 14 per cent to R104.7bn on a month-on-month basis, driven by a 49.1 per cent increase in precious metals and stones and a 10.4 per cent increase in mineral products exports. Imports were down 6.6 per cent to R86bn, the South African Revenue Service [...]
Great Western Railway launches new Hitachi train in celebration of 175 years of services between Bristol and London June 30, 2016 The government may have once again delayed a decision on air capacity in the South East, but new, faster trains are about to come into service between Bristol and London. Great Western Railway (GWR) today unveiled the first of a fleet of Hitachi-built trains on the day that it celebrates 175 years since the very first train ran on [...]
More than 2,000 people have already cashed in their Help to Buy Isa just four months after launch – getting a bonus of just £421 June 30, 2016 Perplexing news from the Treasury, which has reported more than 2,000 people have so far cashed in their Help to Buy Isas – meaning they've made an average of just £421. The figures, published this morning, showed 1,490 properties were bought in the four months to the end of March through the scheme, which gives savers a £50 [...]
Now Google’s Madrid offices have been raided by police over its taxes June 30, 2016 Police have carried out a raid at Google's Madrid offices as part of a probe into its tax position. A Google spokesperson said: "We comply with the tax law in Spain, as in every other country in which we operate. We are cooperating fully with the authorities in Madrid to answer their questions, as always." [...]
OBR scraps July fiscal sustainability report due to Brexit vote fallout June 30, 2016 The UK's fiscal watchdog scrapped its medium-term forecast which was due out next month, citing uncertainty from the UK's decision to leave the European Union. The OBR said Brexit uncertainty meant it wasn't currently worth making estimates using its previous prediction. This means the first official economic forecast post-vote will be the Bank of England's quarterly inflation report due out in August. Read more: [...]
A Labour MP has warned the party is not a safe space for British Jews after she was abused at the launch of an event into anti-Semitism June 30, 2016 A Jewish Labour MP abused at the launch of the Chakrabarti report into anti-Semitism has slammed leader Jeremy Corbyn, saying the party “cannot be a safe space for British Jews” under his leadership. Ruth Smeeth was accused of collaborating with a Daily Telegraph journalist to smear the party at an event this morning which saw [...]
Lord Stern warns UK emissions targets must be strengthened after Fifth Carbon Budget June 30, 2016 One of the world's most formidable climate change economists applauded the government's adoption of its fifth carbon budget, but he warned that the UK must strengthen its emissions targets. The budget — which is a step in the right direction — will cut carbon emissions 57 per cent by 2032 compared to 1990 levels. But targets must be more [...]
What does the Brexit vote mean for the public finances? June 30, 2016 Economists have warned the government's debt pile is set to jump following the UK's decision to leave the European Union. With growth forecasts being slashed and many fearing the UK is on the brink of a recession, the chances of the UK eradicating its budget deficit by the end of the decade are look slimmer. [...]
Here’s how MPs are reacting to Boris Johnson’s “breathtaking” decision not to run for the Conservative leadership June 30, 2016 Boris Johnson's decision against running for the Tory leadership has been described as “breathtaking” by MPs. Johnson made the shock announcement earlier today that he would not be seeking to replace David Cameron. He has already proved a target for other contenders, with candidates including work and pensions secretary Stephen Crabb and home secretary Theresa [...]
Jeremy Corbyn has compared Israel to terror group Islamic State even as a new report has denied the party is “overrun” by anti-Semitism June 30, 2016 Labour leader Jeremy Corbyn has sparked fresh controversy by appearing to compare the state of Israel to terror group Islamic State. Speaking at the launch of a report on Labour and anti-Semitism by former Liberty director Shami Chakrabarti, which cited "clear evidence" of hateful or ignorant attitudes and behaviours within a minority in the party, [...]