Johnson and Sunak call for investment ‘big bang’ in UK to aid recovery August 5, 2021 The prime minister and the chancellor have called on the UK’s institutional investors to plough more capital into UK assets to ignite an “investment big bang” that drives an economic recovery from the pandemic. In a joint letter with Rishi Sunak, Johnson said the UK’s institutional investors should “seize the moment” and use their “hundreds [...]
UK fiscal watchdog puts cost of reaching net zero at £1.4 trillion July 6, 2021 The cost of the UK reaching net zero by 2050 could be as high as £1.4 trillion, according to figures included in a report published by Britain’s fiscal watchdog today. The UK economy will require over £1 trillion in investment over the next three decades to hit the government’s target of making Britain carbon neutral, [...]
Changes to UK amber list travel rules will be “later this summer” June 24, 2021 Travel to the UK’s amber list countries will be quarantine-free on return for fully vaccinated Brits “later this summer,” under government plans still being decided. Transport secretary Grant Shapps said the government is still considering plans and will set out further details on amber list travel in July, delaying what the travel industry had hoped [...]
UK business given £12.3bn export support from government June 23, 2021 The government’s export credit agency has announced it gave a “record level” of financial support to UK exporters in the last year. UK Export Finance (UKEF) provided £12.3bn of support to UK exporters in the last financial year, almost three times the amount given in 2019-20, according to its annual results published today. The agency, [...]
ABI director general to take up partner role at KPMG May 19, 2021 Huw Evans, director general at the Association of British Insurers (ABI), will join KPMG as a partner next January in the Big Four firm’s insurance and long-term savings division. Evans had been director general at the ABI for more than six years, during which he represented the insurance industry through Brexit, Solvency II implementation, pension [...]
We must open up venture capital investment to pension funds to deliver for British savers May 11, 2021 Darktrace’s IPO was a relief to investors and founders considering a float on the London market, doing much to take away the bitter aftertaste left by Deliveroo’s lacklustre debut at the start of April. Yet even this very British success story, founded by expert mathematicians in Cambridge and invested in by some of the UK’s [...]
Economy shows green shoots of recovery as dividends fall at slowest rate in a year April 26, 2021 UK dividends fell at their slowest rate in the first quarter in an encouraging sign the economy is starting to recover from the worst of the pandemic. Payouts fell 26.7 per cent to £12.7bn in the first quarter year-on-year, according to Link Group’s latest Dividend Monitor. Since the nearly 50 per cent drop in payments [...]
Accept working from home as the new normal, insurance industry told April 21, 2021 Millions of people might find their insurance policies do not cover them for work-related accidents that take place at home as lockdown eases across the UK, and this is wrong, an insurer has stated. Until recently, insurers had to apply home and contents policies to home workers and the self-employed as the country was being [...]
Bunga Bunga owner sues Axa Insurance over business interruption cover April 13, 2021 Inception Group, owner of London nightclub Bunga Bunga, is preparing to sue Axa Insurance over unpaid business interruption cover. Inception Group, which owns restaurants and clubs in central London including Mr Fogg’s and Cahoots, has alleged Axa is trying to “wriggle out” of making a payout, and plans to launch a £3.25m claim in the [...]
What 175 years of data tell us about house price affordability in the UK March 29, 2021 What we’ve learned from nearly 200 years of housing data – and is property really a better investment than a pension? We dug into the treasure trove that is the Bank of England’s Millennium of data resource to analyse the history of house prices. We found that the average house in the UK currently costs more than [...]