CBI: Apprentice levy won’t fix skills crisis July 12, 2015 Britain’s top business group will lash out at the government’s new apprenticeships plan today, arguing that the move is “unlikely” to help fix the UK’s skills shortage. The Confederation of British Industry (CBI) publishes a survey this morning showing that over half of firms are afraid that they will not be able to find staff [...]
Business secretary Sajid Javid defends “regressive” Budget on Marr July 12, 2015 Business secretary Sajid Javid has defended criticism of the government's Budget as regressive, following an analysis by the Institue of Fiscal Studies, concluding it was "not the Budget of a tax reforming chancellor". "As in every Budget, there will be some losers and some winners," said Javid, responding to questioning on the BBC's Andrew Marr [...]
Budget 2015: Why tech startups based in the “Northern Powerhouse” were left disappointed with George Osborne July 10, 2015 A whopping £100bn. That’s what the digital industry contributes to the UK economy. A thriving industry and a significant driver of UK economic growth, the digital economy is growing faster than the average of 8.1% across the G20 countries and is expected to grow at 11% a year this decade. Read more: These are the [...]
From the Tube strike and July Budget to Battle of Britain and the 7/7 London bombings anniversary: Here’s what got us talking this week July 10, 2015 There was a technical fault in New York. There was a cocktail cloud. And somewhere in crowdfunding land, there was a jacket that would make all your commutes suddenly so much better. Here's what got us talking this week 1) Battle of Britain celebrations began They kicked off with a flypast over Buckingham Palace, but [...]
Rationale of bank surcharge under fire as IFS think tank blasts George Osborne’s 2015 July Budget July 9, 2015 A leading think tank has criticised the volatility of the UK’s bank levy and the thinking behind a new bank surcharge as part of a wider assault on what it described as a “deeply disappointing” Budget. There would have been 13 different bank levy rates in 10 years by 2020 under Wednesday’s Budget plans, [...]
City plays down living wage cost fears but hospitality industry could struggle July 9, 2015 Analysts predicted yesterday that UK retailers would largely dodge the effects of the new national living wage but warned the leisure and hospitality industry would face tough times. In a surprise move on Wednesday George Osborne announced a new minimum wage of £7.20 per hour from April next year for workers over the age of [...]
Building an Opportunity Society is critical to Britain’s competitiveness July 9, 2015 While bolstering Britain’s economic growth and giving working people financial security is rightly this government’s most pressing priority, building the Opportunity Society must be its distinct legacy. A society where everyone can fulfil their potential, no matter what their starting point in life, is what a new generation of Conservatives is determined to help deliver, [...]
How can George Osborne revive UK productivity? Reform regulation and the public sector July 9, 2015 In Wednesday’s Budget, George Osborne announced that he would publish a Productivity Plan today. After growing by about 2 per cent a year for many decades, the UK’s productivity growth appears to have come to a juddering halt since the financial crisis. So what should be in the plan – in addition to the measures [...]
Institute of Fiscal Studies: “This was not the Budget of a tax reforming chancellor” July 9, 2015 Welfare cuts stole the limelight in the July Budget, but tax changes were more numerous and bigger, said Paul Johnson, director of the Institute for Fiscal Studies. While there were £14bn of tax increases in the budget, against £8bn of tax cuts, “it is rather hard to pin down a coherent narrative around the changes,” [...]
July Budget 2015: Is it too early to get excited about the government’s “northern powerhouse” plans? July 9, 2015 In his Summer Budget announcement, chancellor George Osborne made no apologies for highlighting the point that the Conservatives have boldly done something that previous governments haven’t been able (or possibly willing) to do – addressing the huge gap between the North and South. Making several references to the government’s "northern powerhouse’ plans, the chancellor confirmed [...]