Senior Tory Eric Pickles hints at new Budget in coming weeks May 11, 2015 A Conservative member of the last coalition Cabinet said yesterday that chancellor George Osborne could unveil a new Budget “relatively soon”. Eric Pickles, who served as secretary of state for communities and local government, said that the move would be needed to outline Tory attempts to reduce the state’s huge annual deficit. Osborne revealed his [...]
Honour the unknown voters who just saved Britain’s bacon – Editor’s Letter May 11, 2015 The General Election did prove one piece of conventional wisdom right. There is a bubble in London, out-of-touch with the rest of the country. As it turns out, the ones living in it work for the Labour party. An almost audible sigh of relief from the City on Friday ended the last delusions of [...]
Greece hopeful of deal despite German doubts May 11, 2015 GREECE is entering another week of uncertainty after failing to reach an agreement with the Eurogroup over debt repayments. Eurozone finance ministers will meet today, but have already ruled out achieving a deal to unlock aid for Greece at the meeting citing too many unresolved issues. Greece and the rest of the Eurogroup have been [...]
Andrew Tyrie MP faces fight to keep Treasury Committee chair May 11, 2015 High-profile MP Andrew Tyrie is facing a challenge to his position as Treasury Select Committee (TSC) chairman, City A.M. understands. Jesse Norman, fellow Conservative and former Barclays banker, is believed to be seeking the role for the coming parliament. Such a move could shock political and financial circles, given that Tyrie is held in high [...]
Tesco’s Dunnhumby could fetch over £2bn as new suitors Nielsen and WPP mull bid May 11, 2015 US data giant Nielsen is reportedly eyeing a bid for Tesco’s Dunnhumby amid a flurry of interest that could push the price tag for the company above the mooted £2bn mark. Tesco boss Dave Lewis hired Goldman Sachs earlier this year to explore a sale or partial sale of the business – which analyses the [...]
Britons bask in post-election sunshine May 11, 2015 BRITAIN is set to enjoy a spell of hot weather this week, with temperatures close to the UK’s hottest day of the year, thanks to warm tropical air coming in from North Africa. Temperatures are expected to reach as high as 24C, forecasts show, nearing the 25.6C reached last month. But the hot spell, which [...]
David Cameron’s cabinet reshuffle: Iain Duncan Smith keeps job as Tory big beasts are reappointed May 11, 2015 David Cameron will today confirm that Iain Duncan Smith is the latest big gun in the new all-Tory cabinet, holding on to his job as work and pensions secretary. Duncan Smith will be in charge of meeting the Conservative pledge to find £12bn worth of savings in the welfare budget by 2020. Only £2bn of [...]
Bank named as site of protest May 11, 2015 ANTI-AUSTERITY group People’s Assembly has called for a demonstration outside the Bank of England next month, following a violent weekend protest outside Downing Street. The group has called for protesters to assemble “right on the doorstep of the very people who created the crisis in the first place” on 20 June. Hundreds attended a Saturday [...]
David Cameron to act quickly on EU renegotiations and in-out referendum May 11, 2015 Prime Minister David Cameron is facing increased pressure to fast-track his plans to reform Britain’s relationship with the European Union. Cameron is widely expected to introduce legislation for an in-out referendum during the early days of the new parliament, as well as ramp up discussions about reform within the EU ahead of the next [...]
Business group sends requests to Number 10 May 11, 2015 THE BRITISH Chambers of Commerce (BCC) is calling on the new government to take “bold action”, in an open letter published today. In the letter, addressed to Prime Minister David Cameron, BCC director general John Longworth said British businesses want the new government to generate more growth by increasing exports, investing in education and delivering [...]
