Index Ventures invests $1bn into UK startups and will create 5000 jobs within a year July 23, 2021 Transatlantic venture capital firm Index Ventures has raised $3.1bn in new funds and directly invested $1bn in UK startups to create 5000 British jobs in the next year. Index’s latest cash injection comes just a year after Index raised its last set of $2bn funds. The UK is Index’s single largest destination for investments in Europe, and [...]
Keir Starmer self-isolating after child tests positive July 21, 2021 Keir Starmer is the latest politician to go into self-isolation after one of his children has tested positive for coronavirus at lunchtime. “In line with the rules, Keir and his family will now be self-isolating,” announced a spokesperson for the Labour leader. “Keir was already doing daily tests and tested negative this morning. He will [...]
Covid: Government borrowing falls in June July 21, 2021 Government borrowing fell over the last month as the UK economy rapidly rebounds from the damage inflicted on it by Covid, new figures released today show. The government borrowed £22.8bn last month, the second-highest figure for June since records began, according to the Office for National Statistics. However, borrowing eased from May, down from £24.3bn [...]
Covid: Economic scaring to restrict Sunak from announcing giveaways in spending review July 21, 2021 Long-standing damage inflicted on the UK economy by Covid and surging interest costs will restrict Rishi Sunak from announcing any giveaways in his upcoming spending review, according to new research published today. Forecasts published by the Institute for Fiscal Studies, Britain’s leading independent microeconomic research institute, show the chancellor has little room to manoeuvre due [...]
Downing Street does not deny govt mulls increasing national insurance contributions July 20, 2021 Downing Street has not denied that National Insurance contributions could be increased to fund a new social care plan, in a move that would break a Conservative manifesto pledge. Boris Johnson is reportedly considering plans to raise National Insurance payments by one percentage point for employers and employees to raise £10bn a year to help [...]
Government scales back isolation advice as ‘pingdemic’ hits businesses July 20, 2021 The government has toned down its guidance on whether people should self-isolate when pinged by the NHS test and trace app amid concerns about staff shortages. Speaking to Times Radio this morning, business minister Paul Scully said the app was there to allow people to make “informed decisions”, but added that isolation was “obviously up [...]
Parliamentary inquiry into Cameron Greensill saga says lobbying rules are ‘insufficient’ July 20, 2021 A parliamentary committee looking into the Greensill saga blasted ex-prime minister David Cameron for the “significant lack of judgement” he showed in his support for the failed firm. The “Lessons from Greensill Capital” report by the Commons Treasury Select Committee found that the current ministerial lobbying rules are “insufficient” and “there is a good case [...]
Cummings: Johnson resisted lockdown as Covid deaths only among elderly July 20, 2021 Dominic Cummings has alleged that Boris Johnson was reluctant to introduce stricter Covid restrictions amid a surge in cases last autumn because he thought the disease was only killing the over 80s. “I no longer buy all this NHS overwhelmed stuff” Cummings said the prime minister had messaged him. Cummings claimed that Johnson wanted to [...]
New £375m investment scheme for high-growth firms opens for application July 20, 2021 The government has today opened a new £375m pot of funding to invest in fast-growing firms across the sectors such as life sciences and clean tech. To be eligible for the so-called “Future Fund: Breakthrough” scheme, businesses looking to raise at least £30m must have 70 per cent of an investment round already committed by [...]
Stellantis to axe shift at Vauxhall plant due to staff shortages July 19, 2021 Stellantis has become the latest carmaker to have its operations disrupted by the number of workers that are being forced to isolate due to Covid-19. The firm today confirmed that it would halt one of the three daily shifts at its Vauxhall van factory in Luton. In a statement, the car giant said: “The safety [...]