UK ramps up preparations for India trade deal negotiations May 24, 2021 International trade secretary Liz Truss is set to begin a 14-week consultation with businesses on what to prioritise in soon to begin UK-India trade deal negotiations. Truss has said this mean the UK was “firing the starting gun on a free trade deal with India” before negotiations officially begin later this year. The UK’s trading [...]
Andrew Bailey says there are some ‘hot spots for prices’ but plays down inflation fears May 24, 2021 Bank of England governor Andrew Bailey has warned there are some “very hot spots in terms of prices”, but that he is confident inflation won’t run well above the UK’s two per cent target in the long-term. Annual CPI increased from 0.7 per cent to 1.5 per cent in April, creating fears among some that [...]
Bank of England felt no Treasury pressure to give Greensill preferential treatment, says Bailey May 24, 2021 The Bank of England did not face pressure from the Treasury or David Cameron to give Greensill Capital preferential treatment in evaluating the firm for a large-scale loan, according to bank governor Andrew Bailey. Bailey told MPs today that lobbying efforts from Cameron did not mean the failed supply chain finance firm had better treatment [...]
Truss: There will be ‘very long transition’ in any UK-Australia trade deal May 24, 2021 British farmers will be given a “very long transition” to prepare for new competition from any UK-Australia trade deal, according to international trade secretary Liz Truss. Truss suggested the deal will result in zero quotas and tariffs on Australian agricultural exports, but said she was “fully confident” British farmers would be able to compete. A cabinet [...]
UK considers scrapping Trump-era tariffs on US whiskey and motorcycles May 24, 2021 The UK will review its tariffs on US products like whiskey, tobacco and motorcycles in a bid to get Joe Biden to drop Trump-era tariffs on British steel. International trade secretary Liz Truss announced today that she would launch a six-week consultation with British businesses to consider “re-balancing measures” that could see some of the tariffs [...]
Ministers preparing to allow pubs to serve people at the bar from June May 24, 2021 Ministers are speaking with the hospitality sector about relaxing rules on ordering drinks at the bar in pubs across England from 21 June as the government looks set to stick with its roadmap timetable. Chief executive of the UK Health Security Agency Dr Jenny Harries said yesterday that the prospect of lifting most if not [...]
Westminster must stop City of London ‘neglect’, says ex-Johnson adviser May 21, 2021 The government must stop its “policy of benign neglect” toward the City of London and urgently bring in financial services regulation reforms, according to Boris Johnson’s former economic adviser. In a report released by centre-right think tank Policy Exchange, Dr Gerard Lyons called for a strong stance on parting from the EU’s financial services regulations [...]
Exclusive: Sadiq Khan lags behind Boris Johnson’s housing completions record May 20, 2021 Sadiq Khan has completed just over half the amount of affordable housing in his first five years that Boris Johnson did when he was mayor of London. Numbers from the Greater London Authority (GLA) show Johnson completed 62,387 affordable homes in his first five years, while Khan has completed 34,659 in that same time period. [...]
Labour steps up pressure on Rishi Sunak over Biden’s global tax plan May 20, 2021 Labour has stepped up its push to get Rishi Sunak to agree to Joe Biden’s plan for a minimum business tax rate among the world’s biggest economies. The party is calling on the government to put together a review of the effects of Biden’s proposal to implement a 21 per cent minimum on global business [...]
Sunderland ’til I die: Labour’s Jonathan Reynolds on reviving the Red Wall May 20, 2021 The highlight of Jonathan Reynolds’ Westminster office is a 1960 election poster of John F Kennedy that hangs above his desk. JFK sits over Reynolds’ shoulder as we speak as a kind of liberal guardian angel to the shadow work and pensions secretary. “Not a perfect President, but he brought hope and optimism,” Reynolds says. [...]
