Mike Brown hits out at ‘bonkers’ TfL borrowing limits September 16, 2019 Transport for London (TfL) boss Mike Brown has criticised the government for imposing “bonkers” limits on its borrowing and for failing to provide it with long-term certainty over its funding. The TfL commissioner told City A.M. that the organisation’s borrowing caps, which are set by government, were based on “no logic other than discussions within [...]
HS2 told to halt ancient woodlands clearance works pending review September 16, 2019 The government has ordered the removals of ancient woodlands near the High Speed Two (HS2) route to be halted while it waits the outcome of a review into the controversial project. Transport secretary Grant Shapps has told HS2 Limited, the company building the high speed line, to stop its clearance works unless it can prove [...]
Bank station commuters warned of travel chaos as TfL prepares to shut DLR concourse ‘until 2022’ September 16, 2019 Commuters face years of chaos and overcrowding at busy Bank station starting later this month as the DLR concourse will be shut down as part of the station’s 2022 upgrade. Users of the DLR, which links the Dockland area of east London to Bank, will be directed through a one-way system – which could be [...]
Eddie Stobart issues profit warning amid takeover interest September 16, 2019 Eddie Stobart has warned its underlying profits for 2019 will be “significantly below” expectations as it confirmed it had received a takeover offer from one of its shareholders. Last month the truck firm suspended shares and announced its chief executive Alex Laffey was standing down with immediate effect after it discovered a multi-million pound accounting [...]
John McDonnell pledges crackdown on City ‘enablers’ of tax avoidance September 15, 2019 Shadow chancellor John McDonnell has vowed to clamp down on City advisers engaged in promoting tax avoidance schemes, calling for hefty fines and even jail terms under a future Labour government. McDonnell directed his fire at “big accountancy firms” which he called “enablers” of tax avoidance, the term used to describe legal efforts to minimise [...]
Lib Dems vow to scrap Brexit if they win general election September 15, 2019 The Liberal Democrats have vowed to cancel Brexit if they win a majority at the next general election. Members of the party today voted in favour of a motion to revoke Article 50 – the mechanism that allows the UK to leave the EU – if they emerge as the largest party in a national [...]
Sadiq Khan: Revoke Article 50 to end the Brexit ‘panic’ September 15, 2019 Sadiq Khan has said Article 50 should be revoked to “take away the panic” of leaving the EU on 31 October. The London mayor also said the Labour party was the “party of remain” and that in any second referendum on Brexit it should campaign to stay in the EU. Read more: Tom Watson pushes [...]
Sam Gyimah is the latest MP to join the Liberal Democrats September 15, 2019 Former Tory MP Sam Gyimah has become the latest MP to join the Liberal Democrats. The former Tory leadership hopeful was one of the 21 Tory MPs to have the whip removed for supporting a bill to block a n o-deal Brexit last week, which became law on Monday. Read more: Liberal Democrats to vote [...]
Heathrow exec warns of potential budget bust – and likens expansion to Tottenham Hotspur stadium September 12, 2019 A Heathrow director has likened the airport’s £14bn expansion plan to Tottenham Hotspur’s new football stadium, which ran massively over budget. Emma Gilthorpe, Heathrow’s executive director for expansion, said major infrastructure projects were “very challenging to deliver” and that details were “pinned down” far too early in the process. Read more: ‘Massive gravy train: British [...]
City of London U-turns over decision to strip Aung San Suu Kyi of freedom award September 12, 2019 The City of London Corporation has U-turned on an earlier decision to strip Aung San Suu Kyi of her honorary freedom award over her failure to condemn the ongoing violence against the Rohingya people in Myanmar. The Corporation’s freedom applications committee today decided that Suu Kyi’s honorary freedom – the highest honour the Corporation can bestow [...]
