Spring Statement: Chancellor Philip Hammond reveals stronger borrowing forecasts March 13, 2018 Chancellor Philip Hammond today unveiled lower government borrowing forecasts as slightly stronger growth and higher tax receipts boosted the public finances. The government will borrow £45.2bn in the 2017-18 fiscal year, £4.7bn lower than previously thought, he told Parliament during his Spring Statement, according to forecasts from the Office for Budget Responsibility (OBR). Borrowing will [...]
Cost of Brexit, austerity update but no fireworks: Here’s what to expect from Philip Hammond’s Spring Statement on 13 March March 9, 2018 The chancellor will next week deliver his new, understated Spring Statement – and although it is not expected to have the same weight as previous Budgets, he is still expected to make waves. As previously announced, Philip Hammond will use the statement to respond to the latest OBR forecasts and set out some long-term thinking, [...]
Deputy mayor for transport slams government for abandoning London’s transport network as TfL faces near £1bn deficit February 21, 2018 London’s deputy mayor for transport will issue a rebuke of government today for abandoning the capital’s transport network as Transport for London (TfL) faces a near £1bn operational deficit next year. The organisation is dealing with the loss of government funding, as well as a surprise fall in passenger numbers, and tonight, Val Shawcross will [...]
Deliveroo is going green: Riders will start using electric scooters and bikes early in 2018 December 23, 2017 Deliveroo has announced an early Christmas present to residents of London, as it has said it will begin to trial electric scooters to cut down on noise and air pollution next year. The meal delivery company has said its riders in the capital will be able to rent electric-powered scooters and bikes early in 2018 [...]
Government slammed as dysfunctional as Philip Hammond admits cabinet has had no “end state” Brexit discussions – and reveals the Spring statement date December 6, 2017 Philip Hammond has admitted there have been no specific discussions of the country’s “end state” after Brexit, drawing criticisms that the government is “breathtakingly dysfunctional”. Speaking during a Treasury select committee hearing this afternoon, the chancellor admitted that conversations had not gone beyond “general discussions”. “The cabinet has had general discussions about our Brexit negotiations, [...]
Let’s get serious about leading the fourth industrial revolution November 27, 2017 The abolition of stamp duty for most first-time buyers dominated the headlines after last week’s Budget. But an equally important national priority was delivered too: positioning Britain to lead the fourth industrial revolution. As the chancellor said, this wave of technological change is already transforming the way we live and work, raising living standards, delivering [...]
6 key Budget 2017 takeaways November 23, 2017 Work in progress and still some way to go – that was my immediate take on the Budget. The good news was that the Chancellor recognised the need to position the UK for the great opportunities and significant challenges ahead. Despite this, far more needs to be done. First, the Chancellor and The Treasury are [...]
Stamp duty abolished for first-time buyers on purchases of up to £300,000 November 22, 2017 The government has used the Autumn Budget to abolish stamp duty for first-time buyers on purchases of up to £300,000. First-time buyers will also receive a stamp duty holiday for the first £300,000 on purchases up to £500,000. Read more: Come again? Two-thirds of Nimbys are worried about rising house prices Launching the policy, the [...]
Autumn Budget 2017: Boost to North Sea oil as government plans to introduce key tax change next year November 22, 2017 North Sea oil and gas producers received a boost from the government today as chancellor Philip Hammond announced tax changes aimed at increasing investment. In the Autumn Budget, Hammond revealed the government would introduce transferrable tax history for oil and gas fields in the North Sea from November 2018. Currently, the history of tax paid [...]
Autumn Budget 2017: Chancellor Philip Hammond’s speech in full November 22, 2017 You can read the chancellor's Budget speech in full here: Mr Deputy Speaker I report today on an economy that continues to grow, continues to create more jobs than ever before and continues to confound those who seek to talk it down. An economy set on a path to a new relationship with our European [...]