Shrink the government to grow the British economy November 2, 2016 November is the month when many Christians remember the dead. This year, in the same month, the Institute of Economic Affairs is focusing on that other constant of life – taxes. Sadly in the UK, taxes seem not just inevitable, but ever-growing. In 2015, the government spent 46 per cent of national income. Government estimates [...]
Shop prices continued to fall in October, despite the slide in the value of sterling November 2, 2016 Sterling's sharp decline since the EU referendum has not fed into shop prices yet, according to data released today. Shop prices fell by 1.7 per cent month-on-month in October, according to the British Retail Consortium (BRC) and Nielsen. Prices on non-food items fell by 2.1 per cent and food prices fell by 1.2 per cent, [...]
Shoppers still love the high street – but want more technology, like VR and smart fitting rooms November 2, 2016 Shoppers still love the British high street experience – but they are craving the introduction of more in-store technologies, like virtual reality (VR), according to a new report. Nearly two-thirds (63 per cent) of consumers prefer to physically see products before buying them and 57 per cent want more technology in-store, such as digital “smart [...]
Small businesses call for help on flood insurance ahead of winter November 2, 2016 The Federation of Small Businesses (FSB) has backed MPs’ calls for more affordable flood insurance for its members. A new Environment, Food and Rural Affairs Committee report out today recommends the government develops a grant scheme by the end of next year to help small firms install flood resilience measures. The FSB said the committee [...]
The influential Treasury Committee has launched a stinging attack on a probe into competition in retail banking November 2, 2016 An influential group of MPs has lashed out at a light-touch report into high street banking, days before the City watchdog publishes its verdict on the sector. Treasury Select Committee chair Andrew Tyrie said the failure of the Competition and Markets Authority to propose dramatic reform smacked of “complacency”, while Labour MP Rachel Reeves said the [...]
Three in four bankers think London will remain the financial capital of Europe November 2, 2016 Nearly three in four bankers think that London will still be the financial centre of Europe in five years time – even after the UK leaves the EU. According to a survey of 80 banking executives released by Synechron, 72 per cent said they think the UK will remain the most attractive place for financial [...]
CBI seeks R&D investment boost in Autumn Statement to offset weaker GDP growth forecast November 2, 2016 The CBI is urging the chancellor to provide investment in infrastructure and research and development in the upcoming Autumn Statement, to offset its lower predictions of GDP growth. The business group has revised its GDP growth forecasts down from two per cent to 1.3 per cent for next year and it expects business uncertainty to [...]
Government-backed review calls for an end to all-white company boards November 2, 2016 Every FTSE 100 company board should have at least one director of colour by 2021, and each FTSE 250 Board by 2024, a government-backed report out today has recommended. The report reveals that out of 1,087 director positions in the FTSE 100, only eight per cent of positions are held by directors of colour, of which [...]
“Deeply concerned” Sadiq Khan orders investigation into Olympic Stadium costs November 1, 2016 London mayor Sadiq Khan has ordered an investigation into a £50m increase in the cost of converting the Olympic Stadium into the home of West Ham United. The London Stadium conversion was expected to cost £272m, but the figure has now risen to £323m. Read more: This is West Ham's "five point plan" to tackle [...]
Philip Hammond warns cyber attacks risk plunging UK into darkness as he sets out defence strategy November 1, 2016 Philip Hammond warned cyber attacks could plunge the UK into “darkness” and ground aeroplanes as he set out a new defence strategy today. The chancellor, speaking amid warnings about Russian-backed hacking, also told enemies that Britain would “retaliate in kind” to attacks, describing this as “the best deterrent”. Read more: Hammond to reveal Britain's new [...]