The EIS has cost the government £3bn in tax relief, so why has it become more generous? February 27, 2019 The enterprise investment scheme (EIS) celebrates its silver jubilee this year. Announced by the then chancellor Ken Clarke in the Autumn Budget in 1993, the scheme was launched at the beginning of 1994. The benefits of the EIS have remained generous – in fact, they’ve become more generous. Until April 2011, the up-front tax relief [...]
Poundland launches red and blue passport covers before Brexit February 27, 2019 There is no love lost between Leavers and Remainers over Brexit, but the two sides could come to blows in the aisles of Poundland as the retailer releases red and blue passport covers. The Brexit-inspired passport covers mean fierce Brexiters or lamenting Remainers can cling to the preferred colour of their choice even after blue [...]
Britain lost faith in its politicians – and then it voted for Brexit February 27, 2019 What do Bill Clinton, the Beano, and moat cleaning have in common? Answer: they all contributed to Brexit. We are about to reach the tenth anniversary of the MPs’ expenses scandal, the fifteenth anniversary of the launch of the TaxPayers’ Alliance (which I co-founded in 2004), and in 30 days’ time we should be leaving [...]
DEBATE: Is Labour’s sudden support for second referendum a good political move? February 27, 2019 Is Labour’s sudden support for second referendum a good political move? Finn McRedmond, staff writer at Reaction, says YES. It is no secret that Jeremy Corbyn is a longstanding eurosceptic. It is also no secret that vast swathes of Labour’s support base are Remainers. So the challenge facing the Labour leadership is this: how do we [...]
Employer confidence slips amid lack of Brexit clarity February 26, 2019 Confidence among UK employers has plunged to "an all-time low", according to a new survey that brings to light the current concerns among businesses in the run-up to Britain’s departure from the EU. Employers’ confidence in the prospects for the UK economy fell by six percentage points last month to a net -20, marking the lowest [...]
Shop workers facing highest risk of redundancy of any sector February 26, 2019 Britain's title as "a nation of shopkeepers" is under greater threat than ever before, according to a new study that shows a dramatic shrinking of the sector’s workforce in recent years. Retail employees as a share of Britain’s workers has dived by 12 per cent since 2003, with the embattled sector now suffering a higher rate [...]
Ex-offenders deserve to work – here’s why you should recruit them February 26, 2019 With Brexit on the horizon, businesses face looming concerns about skills and talent shortages – something we at Lendlease, like many others, are planning for. The national employment level is at an all-time peak with more than 32m in work, but our labour market is only tightening and getting more competitive. Within construction, our current [...]
Chemicals firm Croda stockpiles goods ahead of Brexit February 26, 2019 Chemical manufacturer Croda announced today it is stockpiling goods in mainland Europe and adapting its trading model in preparation for Brexit. Read more: Carney: UK growth 'guaranteed' to fall in no-deal Brexit The British firm, which supplies chemicals to Unilever, Proctor & Gamble and L'Oreal among others, also saw adjusted profit before tax tick up 1.2 [...]
No-deal Brexit could hit Germany’s economy, industry body warns February 26, 2019 A no-deal Brexit could wipe at least 0.5 per cent off Germany’s GDP, a German industry body warned today. Read more: Carney: UK growth 'guaranteed' to fall in no-deal Brexit Joachim Lang, managing director of Germany’s BDI industry association, predicted a hard Brexit would slash €17bn (£14.7bn) from Germany's economy. The German government forecasts that economic growth [...]
UK growth ‘guaranteed’ to fall in no-deal Brexit, Mark Carney warns MPs February 26, 2019 UK growth is “guaranteed” to fall in the event of a no-deal Brexit, the Bank of England’s governor Mark Carney has told MPs. The Bank slashed its UK growth forecast for 2019 to 1.2 per cent earlier this month – down from the 1.7 per cent forecast in November – even on the assumption of [...]