Budget 2016: Shadow business secretary Angela Eagle to say the government has been asleep at the wheel February 22, 2016 The UK domestic economy is insufficiently resilient to advancing global threats and not in a high-enough state of readiness to seize on fast-approaching opportunities, the shadow business secretary Angela Eagle will say today. Speaking at the London Stock Exchange ahead of the Budget, Eagle will warn that there are a number of areas where the [...]
Foreign graduates are helping to fill the skills gap in the UK’s financial sector February 22, 2016 The UK's financial sector is relying heavily on graduates from abroad to plug skills gaps in, according to new research published this morning. Foreign university graduates make up 28 per cent of the current graduate pool who have been working in finance for less than four years, salary bench-marking site Emolument said. For compliance workers the [...]
Scrap council tax and business rates and replace them with a land value tax to encourage development, says London Assembly member February 22, 2016 London’s housing shortage could be partially alleviated by replacing business rates and council tax with a tax on the value of land, a member of the London Assembly has argued today in a new report. The tax changes could lead to the release of nearly 2,000 hectares of land for development, which would provide enough [...]
Bank of England governor Mark Carney to face grilling from MPs over potential impact of EU referendum February 22, 2016 Bank of England governor Mark Carney and several of his deputies will likely have to clarify the risks associated with the June referendum on EU membership when they face a grilling from MPs tomorrow. While Carney tried to keep quiet on how the Bank would respond to the upcoming referendum on UK membership of the [...]
London house prices: Capital is the hardest place in the UK for local workers to get on the property ladder February 22, 2016 The difficulty of getting onto the property ladder has increased dramatically for London workers over last two decades, new research reveals this morning. Estate agent Hamptons International said that calculations based on income after taxes, essentials and mortgage payments showed it was significantly harder to buy in the capital than in any other region of the [...]
EU referendum: First Minister Nicola Sturgeon says Brexit could trigger demand for second Scottish independence referendum February 21, 2016 If the United Kingdom votes to leave the European Union but Scotland votes to stay, a second Scottish independence referendum will "almost certainly" be demanded, First Minister Nicola Sturgeon has warned. Speaking to the BBC, Sturgeon said that Scots would be likely to demand a second referendum if the UK votes to leave, but Scotland doesn't, [...]
EU referendum: The European Union has shown it is not willing to reform. It’s time for us to leave February 21, 2016 I’ve spent the whole of my adult life standing up for what I believe in: that the voter is sovereign, our environment precious, and that politicians should deliver on the promises they make. My constituents – the people who know me best – know I have stood by those principles over the last six years. [...]
EU referendum: London mayor Boris Johnson and Conservative mayoral candidate Zac Goldsmith back Brexit as City grandees call on City of London Corporation to stay neutral in run-up to referendum February 21, 2016 London mayor Boris Johnson declared his support for Britain leaving the European Union last night, in a move that exposed deep divisions in both the Tory Party and the capital. Johnson announced yesterday that he had “made up” his mind “after a great deal of heartache”, adding, “The last thing I wanted was to go [...]
Oil producers hope for a deal on production limits by early March February 21, 2016 A deal to cap oil production at January levels should be completed by 1 March, according to the Russian energy minister Alexander Novak. The deal, brokered by de facto Opec leader Saudi Arabia, has the backing of Russia, Qatar and Venezuela. Opec rebel Iran has welcomed the deal but has said it will continue to [...]
London house prices: Thousands of London homes are left vacant long-term February 21, 2016 Despite a chronic housing shortage in the capital, tens of thousands of homes in London are left vacant on a long-term basis, according to new data. More than 22,000 homes have been left empty by their owners for more than six months, despite soaring rents and property prices, data obtained under Freedom of Information by the [...]