England housing stock increases but housebuilders still fall short of target November 15, 2018 The number of new homes completed in England in the last year reached its highest level in a decade, but growth has plummeted as Brexit uncertainties take hold. Just over 222,000 more homes were added to England’s housing stock in 2017-2018, according to figures released today by the minister of housing, communities and local government (MHCLG). [...]
Profit or purpose? Business must find a better balance November 15, 2018 Last week, I attended a meeting of entrepreneurs backing Small Business Saturday (coming up on 1 December) to look at a survey of what motivates these firms. I expected a tirade against red tape and tax. What we got was the news that, of over 1,000 SMEs polled, only 60 per cent were primarily driven [...]
Theresa May’s future hanging by a thread as leading Brexiters call on her to go November 15, 2018 Theresa May’s future hangs by a thread this afternoon after leading Brexiter Jacob Rees-Mogg called for her to be ousted as Prime Minister. The North East Somerset MP, who chairs the European Research Group of Conservative Brexiters, sent in a letter on Thursday calling for the Prime Minister to be subject to a confidence vote. [...]
‘This is not Brexit’: Jacob Rees-Mogg submits no confidence letter against Prime Minister Theresa May November 15, 2018 Jacob Rees-Mogg has submitted a letter of no confidence in Prime Minister Theresa May. A spokesman for Mogg’s pro-Brexit European Research Group confirmed he has submitted the letter, after challenging the Tory leader in parliament over her Brexit deal. "What has been achieved today is not Brexit," Mogg told reporters this afternoon. "It is impossible to agree [...]
Work and Pensions secretary Esther McVey adds to growing list of Brexit resignations November 15, 2018 Esther McVey, secretary for the Department of Work and Pensions, has resigned this morning over the government's proposed Withdrawal Agreement from the European Union. McVey's exit follows the departures of both Brexit secretary Dominic Raab and Northern Ireland minister Shailesh Vara this morning. Additionally, junior education minister Anne-Marie Trevelyan and Brexit under-secretary Suella Braverman have stepped down. [...]
Great Portland Estates launches £200m share buyback, but warns it could be stopped by Brexit November 15, 2018 Great Portland Estates has launched a share buyback to return £200m to its shareholders, it said today. The property developer is set to repurchase 42m of its own shares over the next 12 months, in a deal backed by Merrill Lynch and JP Morgan Securities. The company said it had decided to re-invest £200m of [...]
Dominic Raab resigns as Brexit secretary, calling withdrawal agreement ‘a very real threat’ to the UK’s integrity November 15, 2018 Dominic Raab resigned as Brexit secretary this morning, calling the UK's withdrawal agreement "a very real threat to the integrity of the United Kingdom". Sterling plunged to 1.285 against the dollar in reaction to the news. Raab, who helped negotiate the UK’s withdrawal agreement with Brussels, added that the Prime Minister’s proposed deal breaks promises [...]
Sterling falls as Theresa May receives her first ministerial resignation over her Brexit deal November 15, 2018 Sterling fell this morning after a minister announced his resignation over the Prime Minister’s Brexit deal, which won the backing of the cabinet last night. Shailesh Vara, a minister for Northern Ireland, informed Downing Street of his resignation this morning, saying the deal leaves the UK “in a half-way house with no time limit” on [...]
EU calls emergency Brexit summit to vote on UK withdrawal agreement as Northern Ireland minister quits November 15, 2018 European Council president Donald Tusk set a date for an emergency Brexit summit today to discuss the UK and EU’s draft withdrawal agreement. The meeting, scheduled for 9.30am on Sunday, 25 November, is expected to formalise the UK’s Brexit deal hammered out by Prime Minister Theresa May and EU negotiator Michel Barnier. “Let me say [...]
The City wants to cheer May over the line November 14, 2018 The Outline Political Declaration on the Future Relationship was published alongside the legalistic 585-page Draft Withdrawal Agreement and while everyone picks over the latter, the former has put a modest spring in the step of City groups. In the Political Declaration, a mere seven pages, the UK and EU set out their commitments to “preserving [...]