Sunak’s budget must navigate the Catch-22 of inflation and recovery October 21, 2021 There have been some pretty bleak backdrops to budget announcements over the years. In March 2008, Alistair Darling faced the daunting task of delivering a budget while the world was in the teeth of the financial crisis. Denis Healy’s April 1979 budget was surely the worst, after the government lost a vote of confidence. The [...]
CMA Chief exec: Crack downs on tech monopolies will safeguard London’s competitive edge October 21, 2021 Effective competition is the lifeblood of a thriving economy. The chance to succeed with hard work and a good idea is a source of hope, and opportunity to entrepreneurs everywhere. While monopolies stifle innovation and focus on protecting their existing profits, competition leads to vibrancy and new ideas. Ensuring digital markets are competitive is a [...]
Chancellor to tighten belt despite tax windfall October 21, 2021 Despite the Chancellor receiving a windfall from the government’s fiscal watchdog raising its forecasts for the economy, he will not use the extra wriggle room renege on tax hikes at next week’s budget. The Office for Budget Responsibility (OBR) will upgrade its forecasts for UK economic growth to around seven per cent next Wednesday, up [...]
Orbex unveils world’s most carbon neutral space rocket ahead of COP26 October 21, 2021 Space technology firm Orbex has unveiled what is thought to be the world’s most ‘environmentally friendly’ rocket. The Scottish firm’s space rocket, known as Prime, will emit be up to 96 per cent less emissions than comparable space launch programmes, according to a new study by Exeter University. The rocket uses a renewable, ‘ultra-low-carbon’ fuel, and [...]
UK seal post-Brexit New Zealand trade deal in stepping stone to CPTPP ascension October 20, 2021 The UK has agreed to a free trade deal with New Zealand in what is another key stepping stone to joining the 11-country Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trading bloc. Boris Johnson announced today that the deal would see UK markets opened up to New Zealand agricultural products as tariffs are slashed [...]
Government deletes net zero paper criticising business travel October 20, 2021 A government research paper pushing to stigmatise international business flights and promote domestic tourism has been hastily deleted. The report focused on changing public behaviour to reach net zero climate targets. On the basis that ‘social norms are contagious’, it wanted to change the perception of in-person business meetings involving international flights. It believed they [...]
COP26: Khan to call for cities like London to have greater powers and funding October 20, 2021 London mayor Sadiq Khan will use the upcoming COP26 to vouch for cities like London to have greater powers and funding. It forms part of the mayors bid to “tackle the twin dangers of the climate emergency and toxic air pollution”, his spokesperson told City A.M. “The mayor will use COP26 to highlight how London is [...]
PayPal in talks to buy Pinterest October 20, 2021 Payments behemoth PayPal Holdings is in talks to buy digital pinboard site Pinterest. The companies have discussed a potential price of $70 per share, according to Bloomberg News. This would value Pinterest at around $39bn. The price would represent a 26 per cent premium to Pinterest’s closing price of $55.58 on Tuesday. PayPal’s shares were [...]
RAC warns petrol retailers to not “contribute further” to pump price crisis October 20, 2021 RAC has accused petrol retailers of taking “a bigger cut” on petrol, after prices at the pumps rose to a nine-year high. The motoring group urges them not to “contribute further” to the soaring prices which have now breached 141p per litre for petrol and 144p for diesel. This is close to the record tallies [...]
“Ludicrous” management of roads is suppressing mobility say hauliers October 20, 2021 Duncan Buchanan, director of policy at the Road Haulage Association (RHA), has told a Transport select committee hearing that local congestion rules such as low emission neighbourhoods are the main barrier for hauliers. “It starts to look as a punishment for something you should be able to do,” said Buchanan when talking about the need [...]
