Sadiq Khan calls on government to extend furlough scheme July 27, 2020 Sadiq Khan has once again called on the government to extend its furlough scheme for struggling sectors ahead of changes this weekend which could lead to a surge in unemployment. From Saturday employers will have to pay national insurance and pension contributions for furloughed employees. However, for many sectors such as hospitality and leisure, the [...]
Why the UK should rethink its restrictive rules on dual-class shares July 27, 2020 The ability to have a dual-class voting structure can be an important consideration for high-growth, innovative companies (especially those in the technology sector) when deciding on an IPO venue. These structures are not possible for a premium listing in London, whereas they are available on other major stock exchanges, meaning that the UK risks missing [...]
Lib Dem candidate Siobhan Benita quits race to become London mayor July 27, 2020 Siobhan Benita, the Liberal Democrats’ candidate for next year’s London mayor election, has stepped down after coronavirus delayed the vote until May 2021. Benita announced her decision today, saying the unpaid role was “very difficult to combine with other work”. Originally Londoners were set to vote on a new mayor in May 2020. However, the [...]
TfL’s financial blackhole hits £3.5bn as commuters stay home July 24, 2020 Transport for London (TfL) this morning said it would need £3.5bn in funding over the full year due to uncertainty over commuter demand due to the coronavirus. The figure is £300m higher than that laid out in the transport operator’s emergency coronavirus budget in May. It also said that it would require an additional £2.9bn [...]
Sadiq Khan suggests London tax autonomy in new TfL bailout deal July 22, 2020 London mayor Sadiq Khan has suggested that the government should consider giving the capital freedom to spend its own tax takings to fund Transport for London (TfL). Speaking to the parliamentary transport select committee this morning, Khan said that one of the options for the future funding of the embattled operator should be “proper fiscal [...]
New Thames Estuary development plan could add £115bn to UK economy July 21, 2020 The Thames Estuary growth board has today launched a new development initiative that could add up to £115bn to the UK economy. Named the “Green Blue”, the scheme comprises 30 individual projects in the south-east, with the potential to create 1.5m jobs. These include infrastructure developments such as the Lower Thames Crossing, as well as [...]
The road towards a greener, cleaner Square Mile July 20, 2020 As the UK starts to rebuild its economy in the wake of the Covid-19 crisis, it is crucial that the plan is developed with tackling climate change at its heart. We need to shape a greener, fairer and more resilient City. And we want the whole Square Mile to play its part. That’s why last [...]
Coronavirus roadmap: When will England’s lockdown end? July 18, 2020 Boris Johnson has outlined a roadmap for the end of England’s lockdown, giving hope that coronavirus social distancing could end before Christmas. Johnson changed tack on government guidance to work from home where possible in a speech on 17 July. Instead employers will be asked to discuss with employees whether and how they can safely [...]
Met Office mistakes huge swarm of flying ants over London for rain July 17, 2020 Flying ants have once again taken to the skies of London, with swarms so big that the Met Office weather radar has mistaken them for rain. On Sunday, millions of the bugs filled the skies across the country on what is known as “Flying Ant day”. Undeterred, the winged insects have returned in huge swarms [...]
London’s R rate could be as high as 1.1 July 17, 2020 London’s R rate could be as high as 1.1, according to the government’s Sage advisory group. The R rate – the reproduction rate of the virus – is between 0.8 and 1.1 in the capital as the government continues to ease lockdown measures. It stands at 0.7 and 0.9 in the rest of the UK, [...]