Sugar tax raises £154m but the government warns more must be done November 21, 2018 The sugar tax on soft drinks has raised £153.8m since it came into force in April, the government has said. The levy was rolled out seven months ago to help tackle childhood obesity, with revenue used to fund physical education in primary schools. The figure is less than half the original amount estimated when the tax was [...]
Central London house prices set for sharp upturn on Brexit deal October 31, 2018 Central London’s waning high-end property market could be set for a resurgence over the next five years, with a new report forecasting that prime house prices could rocket by more than 15 per cent if an expected bounce in confidence returns to the capital. Despite stamp duty changes and political volatility causing a slowdown in [...]
Jes Staley seeks to brush off Bramson challenge but Barclays still faces the headwinds October 24, 2018 Barclays CEO Jes Staley struck a bullish tone yesterday, insisting his investment banking division was on the up. Third quarter profits jumped to £1.5bn, up from £1.1bn a year ago. If this puts a spring in Staley's step, there are plenty of items in his in-tray to pull him back down to earth – not [...]
DEBATE: Has the Northern Powerhouse run out of steam? October 12, 2018 Has the Northern Powerhouse run out of steam? Emma Revell, communications officer at the Centre for Policy Studies, says YES. The Northern Powerhouse hasn’t quite run out of steam but it’s certainly not firing on all cylinders. Rail infrastructure improvements have been shelved, the architects of the Northern Powerhouse (most notably George Osborne and Jim O'Neill) [...]
London mayor Sadiq Khan joins calls for second referendum on Brexit September 16, 2018 The mayor of London, Sadiq Khan, has joined calls for a second referendum on the UK’s membership of the European Union, claiming the Conservative Party has been left with only “incredibly risky” options for Brexit. Khan, one of the Labour Party’s highest-ranking politicians, wrote in The Observer that an opportunity for the “best possible” Brexit [...]
Princesses, stamp duty and the rising tide of indoor swimming pools: The Billionaires’ Row estate agent talks to City A.M. about the changing times on London’s priciest street September 13, 2018 If anywhere is on the front line in the current struggle to sell London’s high-end property, it is The Bishops Avenue, the fabled Billionaires’ Row just north of Hampstead Heath; and if anyone is leading the fight, it is Trevor Abrahmsohn, the area’s legendary estate agent. Through his Glentree agency, Abrahmsohn has over the years [...]
George Osborne: The EU needs the City of London to be successful in business September 9, 2015 The success of the Square Mile is of paramount interest to the European Union and the Eurozone, chancellor George Osborne told peers yesterday. “The health of the City is an EU and Eurozone interest,” Osborne told the Lords Economic Affairs Committee. But responding to a question from Lord Kerr of Kinlochard, Osborne also [...]
Chancellor George Osborne “confident” about Hinkley Point deal September 8, 2015 Chancellor George Osborne has said that the government's plan to build a new nuclear power plant at the Hinkley Point power station is on track. "I am pretty confident that we are going to be able to do a deal, but we are still in the negotiations," he told the Lords Economic Affairs committee. Britain [...]
Firms to Osborne: Don’t leave the capital behind September 8, 2015 BUSINESSES in the capital have urged the government to remember London when pushing for greater devolution of decision-making powers to local authorities. In an official submission to the Treasury ahead of November’s comprehensive spending review, the London Chamber of Commerce and Industry (LCCI) said that London should not be “overlooked”. LCCI chief executive Colin Stanbridge [...]
Consumers are being ignored in the financial market abuse crackdown September 7, 2015 MPs coming back to Westminster after the summer recess will be returning to financial markets that have shown levels of volatility not seen since the banking crisis. While it is unlikely that the recent share rout will lead to another global meltdown, it will give added impetus to MPs’ efforts to pass legislation aimed [...]