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 [...]
Chancellor Philip Hammond’s Autumn Budget contained tricks and treats for your personal finances October 31, 2018 The move of this year’s Autumn Budget to Monday this week rather than its traditional Wednesday slot was ostensibly to give MPs more time to debate the chancellor’s proposals before the House of Commons rises for recess on 6 November. But presumably Philip Hammond also hoped to avoid some Halloween-themed headlines, which he himself alluded to [...]
Hammond’s digital services tax puts UK competitiveness at risk October 31, 2018 The government has long been scratching its head for ways to address the current tax treatment of global tech platforms. Our tax code – all 10m words of it – has been struggling to keep up and adapt to a new economy that is being driven by technology, innovation, and digitalisation. On Monday, Philip Hammond [...]
This Budget was a masterclass in dishonesty and manipulation October 31, 2018 So what was it? A cautious Budget? An astute Budget? A get-me-through-the-day Budget? Did you feel the earth move – or the need to change your financial affairs, for better or worse? Was there more than a zzzzz from the markets? It certainly was not the tax reform Budget that our economy desperately needs to put [...]
Hammond has taken the first tentative steps towards fixing the housing crisis October 31, 2018 How do you solve the housing crisis in a single Budget? You can’t, of course – not with Brexit looming and a Prime Minister demanding that you both signal the end of austerity and reduce the UK’s national debt at the same time. But housing policy is the one single issue that personally and radically [...]
Facebook hit by user drop as European growth falls for a second quarter October 30, 2018 Social media giant Facebook failed to live up to estimates for monthly user growth in its third quarter, as growth remained flat in North America but fell across Europe for the second consecutive quarter in the wake of massive data breaches and tightened regulations. Despite this, its profits outperformed expectations, the firm said tonight. Shares [...]
John McDonnell under fire from Labour MPs for backing the Budget’s tax cuts October 30, 2018 Labour’s shadow chancellor has been forced to defend his surprise support for Conservative plans to cut taxes for higher earners. John McDonnell said on Tuesday he would not reverse moves to raise the 40p income tax threshold to wages over £50,000 from April 2019 if he was in government. The policy, announced by chancellor Philip Hammond [...]
UK and Norway will give each other’s citizens the right to remain after Brexit October 30, 2018 British citizens in Norway and Norwegian citizens in the UK will have the right to remain post-Brexit, their governments said today. Erna Solberg, Prime Minister of Norway, said: “Prime Minister May and I agreed that Norway and UK will put in place a comprehensive citizens rights’ agreement. We will treat all UK citizens living in Norway [...]
Sports Direct buys Evans Cycles, but Mike Ashley to close 30 stores October 30, 2018 Evans Cycles has been sold to Sports Direct as part of a pre-pack administration. Around half of the cycling shop's 60 stores will be forced to close, Sports Direct owner Mike Ashley said as he announced the deal. Ashley commented: "We are pleased to have rescued the Evans Cycles brand. However, in order to save the [...]
IFS dismisses Budget ‘bonanza’, accusing Hammond of gambling the public finances October 30, 2018 Chancellor Philip Hammond gambled the public finances in yesterday's Budget, the Institute for Fiscal Studies (IFS) said today, claiming public services will still feel the squeeze despite Philip Hammond’s end of austerity claims. The IFS said Hammond had chosen to spend his fiscal windfall rather than save it, increasing NHS spending by around £20bn until 2023-24. [...]