A windfall tax raised by a money-hungry government will scare off our businesses June 8, 2022 Rishi Sunak’s windfall tax on energy firms – what he called a “temporary targeted profits levy” – has gone down well with voters. The tax makes it look like money is raised from someone else and given to them through subsidies to their bills. Despite claims that the tax will yield an additional £5bn in [...]
Oil prices could take seven years to calm down, warn industry experts June 7, 2022 Oil prices could take seven years to return to normal levels, warned energy analysts, reducing the prospect of the windfall tax being lifted early.
Wounded Boris Johnson to call emergency Cabinet meeting as Tory rebels refuse to back down after worse-than-May vote June 7, 2022 It is understood Prime Minister Boris Johnson plans to call his Cabinet together this morning as the embattled Tory leader seeks to keep his premiership afloat by putting a bruising confidence ballot firmly behind him. The Prime Minister insisted he had secured a “decisive” victory despite 148 of his own MPs voting to oust him [...]
City’s influence over Westminster: £17.5m spent political parties and MPs since 2020 June 7, 2022 The influence of the City over Westminster has come into sharp focus this week, after a report £17.5m was spend by big banks on MPs and political parties since 2020. Almost 50 MPs received an average of £49,000 from the City – despite 26 of them registering not a single hour of work in return. [...]
To turf Boris Johnson out, Keir Starmer needs to rebrand his Labour Party June 7, 2022 It must have hurt, not just being booed by those liberal lefty lawyers who turned up to celebrate the Queen’s Platinum Jubilee, but being compared to Jeremy Corbyn – the very same man that Boris Johnson squashed into political oblivion in 2019. This is not the historical alignment with Winston Churchill he has worked all [...]
Johnson tells Tory MPs ‘best is yet to come’ as he urges them to not vote him out June 6, 2022 Boris Johnson has today vowed to Tory MPs that the “best is yet to come”, after urging them to stick with him in a no confidence vote this evening. The Prime Minister told a meeting of the 1922 Committee of Tory backbenchers that “I will lead you to victory again” as he promised a raft [...]
Sunak says £15bn cost of living package will only add to inflation ‘minimally’ June 6, 2022 Rishi Sunak has moved to assure people that the £15bn cost of living package he recently announced will only “minimally” add to the UK’s inflationary pressures. The chancellor today told Westminster’s Treasury Select Committee that he had been careful “to make sure fiscal policy was responsible in that context”. The chancellor last month performed a [...]
Exclusive: Co-working firm Second Home launches sale process amid battle for rescue cash June 6, 2022 Shared office firm Second Home has started scouting for a buyer in parallel with efforts to secure rescue cash, CityA.M. understands. The workspace provider has launched a sale process after administrators from FRP Advisory were called in to help fend off insolvency. Headed by a former aide to ex-Prime Minister David Cameron, Rohan Silva, Second [...]
Serica Energy ramps up investment plans to offset windfall tax June 6, 2022 Serica Energy is planning to spend its way out of a tax bill, after the government imposed a hefty new levy on North Sea oil and gas operator.s.
Boris Johnson: What is a Tory no confidence vote, how does it work and why is it happening? June 6, 2022 Boris Johnson will face a vote of no confidence in his leadership of the Conservative party at 6pm today, after 54 or more MPs declared they no longer had confidence in the Prime Minister. City A.M. takes a look at what the vote is, why it was triggered and what might happen next. What is [...]