City groups rally Kwarteng on post-Brexit financial services reforms October 9, 2022 City groups are calling for more speed and clarity from the government over proposed changes to the financial services rulebook post-Brexit as the Chancellor comes closer to outlining his plans to unleash the City. TheCityUK tonight urged the Treasury to bring forward changes to “ensure continued high-quality proportionate regulation”, while UK Finance called for “a sustained [...]
Truss tells Tory MPs: Unite behind me or face defeat to Labour October 9, 2022 Liz Truss has told her own Tory backbenchers that they must unite behind her leadership or face electoral wipeout at the hands of Labour. Number 10 and several cabinet ministers have today come out to warn rebel MPs about Tory disunity, after a party conference marked by vicious infighting and attacks on Truss. Former cabinet [...]
Zahawi says it’s ‘extremely unlikely’ UK will have winter energy blackouts October 9, 2022 It is “extremely unlikely” the UK will face planned energy blackouts through winter, Cabinet Office minister Nadhim Zahawi has said. Zahawi said “we plan for every scenario”, but that there is a “buffer” of energy supplies that will get the UK through winter. National Grid said earlier this week that British households should cut their [...]
EXCLUSIVE: Starmer sounds alarm on house price ‘shocks’ as mortgage rates rise October 6, 2022 Sir Keir Starmer has warned about potential housing price “shocks” across the UK in the wake of dramatic mortgage rate rises. The Labour leader today told City A.M. there’s “no market confidence” in the government and that “we are going to see these shocks in mortgages and housing as a direct result of it”. Starmer [...]
Truss vows to defeat ‘enemies of enterprise’ as PM gets heckled by Greenpeace October 5, 2022 Liz Truss has vowed to defeat the “enemies of enterprise” and said her three biggest priorities are “growth, growth, growth” in her Tory conference speech, after being heckled by Greenpeace protesters. The Prime Minister launched a strong defence of her government’s recent mini-Budget, saying that “cutting taxes is the right thing to do morally and [...]
Truss to vow a new era of growth as she tries to steady her premiership October 4, 2022 Liz Truss will tomorrow promise a new era of growth and try to reset her already faltering premiership, just 24 hours after the Tory party descended into all-out civil war at its annual conference. The Prime Minister suffered another damaging day as very public splits emerged within her cabinet, backbench MPs briefed against her and [...]
Badenoch plays down hopes of greater access to India for UK services in trade deal October 4, 2022 New trade secretary Kemi Badenoch has warned that any UK-India trade deal is unlikely to vastly increase access to the Indian market for City services firms. Badenoch today confirmed she was sticking to Boris Johnson’s deadline of striking a deal with India by Diwali, 24 October, but watered down expectations about how comprehensive it will [...]
Cabinet rift deepens as Braverman hits out against Truss’ tax U-turn October 4, 2022 Liz Truss is facing very public cabinet splits just a month into her premiership, with two senior ministers today hitting out against her tax cut U-turn. Home secretary Suella Braverman today said she was “disappointed by the subsequent reversal” in the decision to cut the top 45p rate of Income tax and housing secretary Simon [...]
Truss: Cancelled 45p tax cut was never a ‘priority policy’ October 4, 2022 Liz Truss has said the cancelled tax cut for people paying the top 45p rate of Income Tax was never a “priority policy” as she seeks to defend the U-turn. The Prime Minister said she does “support a lower, simpler tax system”, but that “what we couldn’t allow is a fairly minor part of the [...]
UK trade secretary to focus on boosting exports over signing new trade deals October 3, 2022 The new UK trade secretary has indicated she wants to concentrate more on boosting exports within current trade deals than signing new agreements. Kemi Badenoch told the Conservative party conference today that “trade deals are great, but it’s not the only thing” and that she wants to help businesses better navigate current agreements to boost [...]
