Devolution will give London the powers it needs to thrive December 19, 2024 The government’s plans for a new era of devolution means three things for London, all of which have the potential for the better and for good, says Sadiq Khan When the late, great John Prescott outlined his vision for a Mayor to lead our capital, he said it would “provide a choice and a voice [...]
UK inflation spikes ahead of Bank of England rates decision December 18, 2024 UK inflation spiked to 2.6 per cent ahead of the Bank of England’s meeting to decide interest rates later this week. Year-on-year inflation matched expectations of 2.6 per cent in November, up from 2.3 per cent in October, data from the Office for National Statistics revealed. Meanwhile, core inflation, which strips out volatile commodities like [...]
Labour’s growth gamble will decide Britain’s future December 18, 2024 Labour’s plan to invest for growth is Keynesianism 101. Delivering on it will require discipline and competence — recent history gives us plenty of reasons to be sceptical, says Damian Pudner Britain’s economic fortunes have hit a moment of reckoning. Public debt has ballooned to an eye-watering £2.8 trillion, roughly 100 per cent of GDP. [...]
FCA sets out plans for new Pisces private stock market December 17, 2024 The Financial Conduct Authority (FCA) has set out its plans for a new private stock market system today as it looks to revive London’s flagging IPO pipeline and allow investors to more easily tap into unlisted companies. In a consultation document, the City watchdog said the new stock market system, PISCES, first tabled by the [...]
Strong wage growth kills hopes of interest rate cut December 17, 2024 Analysts have warned that strong wage growth data reported this morning has killed any chance that the Bank of England will cut interest rates later this week. While the central bank had been widely expected to hold interest rates at its Monetary Policy Committee meeting on Thursday, the decision has been cemented by wages rising [...]
UK wages continue to surge as Bank of England set to decide on interest rates December 17, 2024 UK unemployment remained steady over the last three months as wage growth surged over the quarter to October. Unemployment was unchanged at 4.3 per cent for the second straight month during October, data from the Office for National Statistics revealed. The number of people claiming jobless benefits climbed by just 300 in November, beating the [...]
‘Hammer blow’: Family firms call for inheritance tax consultation December 16, 2024 Family businesses are urging the government to consult on changes to inheritance tax (IHT), warning the move represents a “hammer blow” to the UK economy. Some 160,000 family-owned firms – represented by 32 trade associations – have written to Chancellor Rachel Reeves to request a formal consultation on IHT changes in the Budget. The letter, [...]
Growth is easier to destroy than to build December 16, 2024 Missions, milestones, foundations and pledges; Keir Starmer has unveiled them all since winning the election in July, but no amount of visionary rhetoric can compel an economy to grow. Since Labour’s election victory the British economy has whimpered to a halt. GDP flatlined in July and achieved a barely perceptible nudge up in August before contracting [...]
Home secretary criticised for not saying when small boat crossings will fall December 15, 2024 The home secretary has been criticised for not saying when small boat crossings will fall. Yvette Cooper has insisted the government has a moral responsibility to tackle the crisis, but refused to say when the number of people arriving across the English Channel will decline. The Labour minister was criticised by her Tory opponent for [...]
‘Milestone’: UK first European country to join CPTPP trade bloc December 15, 2024 The UK has become the first European nation to join the CPTPP trade bloc after its membership formally took effect. Britain’s participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) came into force on Sunday, December 15. The major Indo-Pacific trade partnership comprises member states Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, [...]