Scrap stamp duty for pensioners to free up homes for youngsters, says thinktank December 3, 2018 A UK thinktank has called for the government to scrap stamp duty for pensioners to encourage downsizing and free up homes for younger families. Policy Exchange’s new report reveals that 1.1m homes in England with two or more spare bedrooms are lived in by a single person aged over 65. The report says the lower stamp [...]
British tax burden at 50-year high, according to TaxPayers’ Alliance December 2, 2018 The TaxPayers’ Alliance campaign group has called for lower taxes as ‘poorest’ families struggle with current levels. The TPA, linked to the Atlas Network of free market advocates, said the UK’s tax take was at a 50-year high of 34.6 per cent of GDP. National current receipts are at a 21-year high as a proportion [...]
Crossrail and HS2 chair Sir Terry Morgan faces sack after costs spiral December 1, 2018 The chair of the Crossrail and HS2 infrastructure projects reportedly faces the sack over fears the rail link between London and Birmingham could exceed its £56bn budget by a large margin. Sir Terry Morgan has only been chair of HS2 for four months but could now be fired within weeks after his poor performance was [...]
Critics accuse Bank of England of using its forecasts to play with politics November 28, 2018 The Bank of England sparked a row today after publishing analysis of its ‘worst case Brexit scenario’ just 13 days ahead of a crucial Parliamentary vote on Theresa May’s deal. The controversy was sparked when governor Mark Carney unveiled the Bank’s latest ‘stress test’ assessment of the UK’s ability to withstand dramatic economic shocks, including [...]
John McDonnell agrees Labour support for new Brexit referendum is ‘inevitable’ November 28, 2018 Labour’s John McDonnell believes it is “inevitable” his party will soon back another referendum on Brexit. In an interview on Wednesday afternoon, the shadow chancellor gave the clearest indication yet Labour will fully endorse another vote on the UK’s relationship with the EU. Labour’s official position is it would push for a general election if Theresa [...]
UK economy will be worse off under every Brexit scenario, government’s own analysis confirms November 28, 2018 The UK economy could take a 3.9 percent growth hit under a deal that resembles Theresa May's Brexit plan, the government has said. A report published on Wednesday morning argues that life outside the EU will leave the UK poorer than if it had stayed inside the bloc in a range of scenarios over the next 15 years. [...]
Hammond: Prime Minister’s Brexit deal minimises economic costs November 28, 2018 Chancellor Philip Hammond defended the Prime Minister’s Brexit deal this morning, claiming it comes at a very small economic cost. Hammond also warned that a no-deal Brexit would be far more expensive than the withdrawal agreement negotiated by Theresa May. May’s deal faces a crucial vote in parliament on 11 December, and Hammond warned the [...]
Donald Trump dumps on Theresa May’s Brexit deal November 26, 2018 Donald Trump gave Theresa May a Brexit headache on Monday evening, describing the agreement reached between London and Brussels as "great for the EU." The US President also warned the government's proposed deal with the EU could prevent a future trade deal between the UK and US. Trump's comments came as the Prime Minister was [...]
Chancellor Philip Hammond says Brexit deal better than staying in the European Union ahead of May’s summit with EU leaders November 24, 2018 Chancellor Philip Hammond has said Theresa May's Brexit deal is better than staying in the EU, as the Prime Minister heads to Brussels for a summit with European leaders. Hammond said he disagreed with Democratic Unionist Party (DUP) leader Arlene Foster who said the deal was a worse outcome for Britain than a Jeremy Corbyn [...]
Fairytale economics will not enchant markets November 14, 2018 In a remarkable break with the economic prudence of the past decade, policymakers in the west are taking their feet off the spending brakes. During the recent midterm elections in the US, President Trump hailed the continuing stream of positive economic data and Democrats’ warnings about the cost of tax cuts failed to cut through. Meanwhile the [...]