Calls to cut taxes show ‘questionable judgement’, economists warn August 23, 2023 Economists have warned that calls from Conservative MPs for Chancellor Jeremy Hunt to cut taxes after improved borrowing data emerged show “questionable judgement”. Three backbench Conservatives piled the pressure on, according to the Financial Times, with calls for “personal tax reductions” to “stimulate the economy”. The pleas came after figures from the Office for National [...]
ULEZ: Ministers tried (and failed) to overrule Sadiq Khan scheme’s London-wide expansion August 23, 2023 The government unsuccessfully attempted to use powers to overrule Sadiq Khan’s expansion of the ULEZ scheme, it has been revealed. Ministers were reportedly looking into an obscure legal route to obstruct the mayor’s plans to expand the ultra low emission zone (ULEZ) throughout the capital but were told it would fall down in court. But [...]
Twitter owner Elon Musk to be invited to government investment summit August 22, 2023 Twitter owner Elon Musk is among top business leaders expected to be invited to Rishi Sunak’s global investment summit this autumn. Tesla boss Musk – who recently bought and renamed Twitter as X – is among figures including Amazon founder Jeff Bezos who officials are keen to see attend the summit, according to Sky News. [...]
UK downplays reports of ‘imminent’ India trade deal ahead of G20 summit August 22, 2023 The UK has downplayed reports that a trade deal with India is “imminent” ahead of the G20 summit in Delhi next month. Some reports in the Indian press suggested that a deal could be agreed as early as September. Prime ministers Rishi Sunak and Narendra Modi are expected to meet at the G20 conference, with [...]
Government borrowing: Another new debt record as interest hits July high making pre-election tax cuts unlikely August 22, 2023 The interest paid on government debt hit its highest July level on record as government borrowing continued to rise, albeit significantly less than expected.
Public firms could be allowed to extract £50bn from staff pension schemes in bid to boost investment August 21, 2023 Public firms could be permitted to withdraw up to £50bn from staff pension schemes if government plans for a sweeping shake up of the industry’s rules go ahead. Returns on investments in government bonds – known as gilts – have seen workplace pension schemes go from being well in the red to significantly cashed up [...]
Just eight per cent of voters credit Sunak with falling inflation, poll finds August 21, 2023 Just eight per cent of voters believe the government can be given credit for the recent fall in inflation, polling by YouGov has revealed. Inflation dropped to 6.8 per cent last month, which Prime Minister Rishi Sunak claimed showed his plan was working. Sunak made five key pledges to the public in January, including vowing [...]
Foreign Office staff told not to say ‘hostile state’ for fear of upsetting China August 21, 2023 Government officials have reportedly been told not to use the term “hostile state” by the Foreign Office in case it upsets China. The term cannot be used in documents and internal messages via email and WhatsApp between advisers, civil servants and ministers, The Times reported today. One official in another department was reportedly told by [...]
UK spent over £46m on Australia and New Zealand trade deals August 20, 2023 The UK government spent more than £46m on negotiating just two trade deals last year, it has been revealed. Ministers shelled out £46.2m during 2022-23 securing and implementing new trade deals with Australia and New Zealand, according to a recent parliamentary written question. Concerns have been raised over the expected benefit from the Australian and [...]
Rishi Sunak says we’ll feel better off next year – but is the PM right? August 18, 2023 Rishi Sunak has pledged Brits will all feel better off next year, as he said he “passionately believes” he can bring down inflation and ease the cost of living crisis. Speaking to the Times, the prime minister vowed to be disciplined on public spending and tax rates in a bid to revive the UK’s economic [...]