Bank of England reaction: Will interest rates go negative? BoE reaction: Will interest rates go negative? The Bank of England (BoE) held monetary policy steady yesterday for the second meeting in a row. Interest rates were left at 0.1 per cent and bond-buying at £745bn in a business-as-usual decision. All nine members of the monetary policy committee (MPC) voted in favour of continuing this monetary policy. But analysts, investors and traders [...]
Business groups urge chancellor to unveil autumn Budget policies early Business groups call for early autumn Budget Business lobby groups have urged chancellor Rishi Sunak to make early announcements on the upcoming autumn Budget, in a move to quell fears over the current economic uncertainty. Chancellor Rishi Sunak is expected to deliver the Budget in November, though reports last week suggested the announcement could be pushed back to spring 2021 if the UK [...]
Coronavirus: Government dithering spikes huge fall in public approval ratings Government suffers lowest coronavirus public approval ratings yet The government’s capacity to keep the British public onside over its handling of the coronavirus pandemic has waned significantly, according to a new poll. It comes as the latest figures from YouGov showed public approval of the government’s management of the pandemic throughout the last few months has dropped to its lowest levels yet. The [...]
Joe Biden: Northern Ireland peace deal cannot become ‘casualty of Brexit’ September 17, 2020 US Presidential nominee Joe Biden last night waded into the row over the UK’s Brexit negotiations, warning there will be no trade deal unless the UK upholds the Northern Ireland Good Friday Agreement. Trade talks with the EU have ramped up increasingly over the past week, with this latest intervention likely to put Downing Street [...]
Coronavirus: Justice secretary insists resolving system delays remains top priority September 16, 2020 Justice secretary Robert Buckland today insisted the government will prioritise ramping up its testing efficiency, in a move to quell growing concerns over significant system delays. Speaking to BBC Breakfast, the cabinet minister said the government would “do whatever it takes to make sure we have that capacity”. There are currently around 400 testing centres, [...]
Taxing times: Business groups call for relief on digital tools September 16, 2020 Business groups have called on the government to introduce a tax relief on digital tools, in a bid to support struggling small and medium-sized enterprises (SMEs) amid the ongoing coronavirus pandemic. Industry experts ranging from the Institute of Directors (IoD) to Be the Business said the pandemic has heightened the need for small businesses to adopt [...]
Report: UK firms swimming in £70bn of unsustainable debt September 15, 2020 UK firms have racked up £70bn-worth of unsustainable debt, a new report reveals, with more than £20bn of that coming from government-backed Covid schemes. This figure is down on the previous estimation of £102bn, partially due to government stimulus packages introduced this year, data from TheCityUK revealed. Government-guaranteed lending schemes such as the coronavirus business interruption loan [...]
Brexit: David Cameron becomes latest former PM to hit out at Brexit bill September 14, 2020 David Cameron today became the fifth former prime minister to speak out about the government’s controversial plan to breach the Brexit withdrawal agreement. Prime Minister Boris Johnson has come under fire for his proposed Internal Market Bill, which is due to come before MPs this afternoon. In a statement this morning Cameron said he had [...]
Brexit: Manufacturers warn no-deal car crash will cost industry €110bn September 14, 2020 Brexit negotiations have been put on red alert after Europe and Britain’s car industries warned a no-deal scenario could spark a €110bn (£101.5bn) black hole in trade over the next five years. It comes as trade talks have progressed to their most delicate stage yet –– the UK government’s internal market bill enters its second [...]
Coronavirus: UK job losses could reach 700,000 by end of the year September 14, 2020 Britain must prepare for a huge wave of job losses that could reach 700,000 by the end of the year, according to new analysis from a research group. In the third quarter of 2020, as many as 450,000 jobs are expected to be lost — a huge increase on the same quarterly figures during the [...]