The departure of the super rich is an early warning siren for the rest of us September 18, 2024 Marcelo Goulart, managing partner at the Zurich-based wealth advisor First Alliance, has been so busy helping his clients leave the UK that he’s had no summer holiday. He tells City A.M. that 80 per cent of his “UK exposed” clients have either left the country or are in the final stages of doing so. He [...]
UK tech faces talent exodus if founders are penalised by tax hikes September 17, 2024 Prime Minister Keir Starmer has promised that Chancellor Rachel Reeves’ first Budget will prioritise economic growth and wealth creation. But moves to hike taxes that will hurt Britain’s entrepreneurs are putting that pledge in doubt. As British businessman Sir Martin Sorrell warned in City A.M.: “Increasing capital gains tax, especially without index-linking or time apportionment, [...]
Investor Luke Johnson slams Labour’s ‘socialist fantasy’ workers’ rights reform September 17, 2024 Revolution Bars’ newly-appointed chair and seasoned investor Luke Johnson has criticised Labour’s proposed workers’ rights overhaul, calling it a “socialist fantasy.” Labour is preparing a sweeping reform to tackle the UK’s “culture of presenteeism,” including a ban on “exploitative” zero-hours contracts and day-one employment rights. The government argues the changes will drive employee productivity. However, [...]
Oxford Street: Former MP for the City and Westminster brands pedestrianisation ‘bullying’ September 17, 2024 A row has erupted over Sadiq Khan’s plans to pedestrianise Oxford Street as the area’s former MPs branded the move “bullying”. The mayor of London today unveiled proposals to ban traffic from the iconic central London retail destination, in what he hopes will reinvigorate the nation’s “most famous high street”. But Nickie Aiken, the former [...]
Sir Martin Sorrell: Labour’s working week reforms won’t help firms September 17, 2024 British businessman Sir Martin Sorrell has said that altering the working week will not boost productivity in the UK, pushing back on Prime Minister Keir Starmer’s pledges to transform Britain’s work culture.
Keir Starmer: Policies that inhibit growth will be in the ‘no column’ September 17, 2024 “If it promotes economic growth, it’s in the Yes column — if it is inhibiting growth, it’s in the No column,” he reportedly said.
Oxford Street: Sadiq Khan plans to pedestrianise iconic retail centre September 17, 2024 Sadiq Khan has announced plans to pedestrianise Oxford Street in a bid to reinvigorate the nation’s “most famous high street” and attract more shoppers. The mayor of London has announced the proposals to turn the road into a traffic-free avenue, alongside a wider regeneration of the shopping destination. Pedestrianisation plans would be delivered via the [...]
Lessons must be learned from the demise of Harland & Wolff September 17, 2024 Harland & Wolff on Monday declared insolvency following weeks of turmoil since the government refused to provide financial support.
Economic inactivity due to sickness could reach 4.3m, report warns September 17, 2024 The UK’s level of economic inactivity due to sickness could reach 4.3m by the end of this parliament, with an “unthinkable human and economic cost”, a health report has warned. A cross-party commission on health and prosperity, led by the Institute for Public Policy Research (IPPR), has published its findings on the future of Britain’s [...]
Italian firms Leonardo and Marcegaglia to invest £485m in Britain, Starmer reveals September 16, 2024 Two Italian companies Leonardo and Marcegaglia are set to invest £485m into the UK, Sir Keir Starmer has announced. The news came during a joint press conference in Rome with the Prime Minister of Italy, Georgia Meloni, as part of Sir Keir’s trip to strengthen ties on migration, trade and defence. Aerospace firm Leonardo will [...]