Railway bailout could cost taxpayer nearly £10bn this year October 16, 2020 It could cost the taxpayer almost £10bn to keep the railways running this year, Department for Transport (DfT) officials revealed today. Speaking to the Public Accounts Committee this morning, permanent secretary Bernadette Kelly said that thus far, the government had spent £4.3bn. For the rest of the financial year, she forecast that an additional £3bn [...]
The Circuit Breakers should be honest about what they’re asking for: lockdown until Christmas and beyond October 16, 2020 “Circuit breaker lockdown”: sounds cool, doesn’t it? Edgy, effective, high-tech. Circuits involve electricity, electricity is physics, so a circuit breaker must be about science — the kind of science that makes light bulbs flash and powers cutting-edge revolutions that can save a nation from ruin. With pressure building for the government to impose this two-week [...]
Covid is an opportunity to scrap business rates altogether October 16, 2020 No business can rightly complain about paying a reasonable amount of tax on profits it earns. Taxes on turnover, such as VAT and stamp duty, are less justifiable, as they are a tax on transactions. In these straitened times such taxes should be cut. But by far the worst kind of tax is property tax, [...]
Actively inactive: Identifying tension in the UK labour market October 16, 2020 The Covid-19 crisis and resulting responses to curb the spread of infections has caused tension to form in pockets of the UK labour market. Given how important it is to tackle economic inactivity if we are to speed the UK’s recovery, it is vital that these new labour market dynamics are recognised, and that steps [...]
Homeowners worried about mortgage renewals as payment holiday ends October 16, 2020 A quarter of the UK’s home-owners are worried about renewing their mortgage as the payment holiday comes to an end this month. As the country grapples with an impending recession the UK’s homeowners are concerned they will be unable to renew their mortgages as earnings stagnate and mass unemployment looms. A poll commissioned by Willow [...]
Donald Trump needs to get back to basics on the campaign trail October 15, 2020 Tuesday’s Opinium poll showing Donald Trump trailing Joe Biden by a staggering 17 points will likely be the death knell for the President’s campaign. Even at the nadir of Trump’s 2016 campaign, when a leaked tape showed him bragging about him sexually assaulting women, the President’s poll deficit never dipped below 15 per cent in [...]
Our Pick: Pictures of the Day – October 15 October 15, 2020 Our Pick: Pictures of the Day - October 15
Italy added to quarantine list as Crete travel ban lifted October 15, 2020 Italy has been added to the UK’s quarantine list after cases surged to more than three times the set threshold for admission. From 4am on Sunday morning, people entering the UK from the country will have to self-isolate for 14 days. According to the latest figures, Italy is now reporting 64.4 cases per 100,000 over [...]
FTSE 100 closes deep in the red amid new coronavirus lockdowns October 15, 2020 London markets plunge on increased social restrictions, with travel and leisure firms dragging FTSE 100 lower
London lockdown: Will the City’s small businesses survive new restrictions? October 15, 2020 Small firms in the City of London have spent the summer in lockdown trying to survive and adapt to the government’s coronavirus regulations. Pubs, shoe repair shops, barbers, dry cleaners and cafes have battled to survive the initial forced closure during lockdown, followed by a sharp decline in City footfall as most office workers remained [...]
