Brexit and IR35 rules weighed on recruitment last year, says report January 28, 2020 UK financial services firms were reluctant to take on new employees last year as the fog of Brexit hung over the sector and new tax rules limited temporary roles, a report by recruitment firm Morgan McKinley has found. Yet despite the political turbulence, the tax, public practice, risk, investment management, and legal professions remained largely [...]
London to see biggest hit from new immigration system January 28, 2020 London is expected to see the biggest impact from proposed changes to the UK’s immigration system, the influential MAC report has warned. Published this morning, the Migration Advisory Committee has set out a twin-pronged approach for the government to build its post-Brexit framework, deploying a combination of an Australian-style points-based system with a salary threshold [...]
Business calls for clarity and collaboration after MAC report January 28, 2020 Businesses have called on the government for clarity and collaboration in building the UK’s new immigration system, after an influential report was published this morning. The Migration Advisory Committee (MAC) this morning recommended a two-pronged approach combining the Australian-style points system so beloved of Brexiters alongside a salary threshold. However the MAC argued that the [...]
Virgin Money boosts consumer loan book in ‘difficult market’ January 28, 2020 The UK’s sixth-largest lender Virgin Money oversaw a solid expansion of its personal and business loan book in the three months to December despite a “difficult market”, it announced today in a trading update. Virgin Money – which was bought by CYBG for £1.7bn in 2018 – also confirmed the worst is over in terms [...]
Combine points and salary threshold in new immigration system, MAC report suggests January 28, 2020 Downing Street should introduce a points-based system for skilled workers already with a job offer, when drawing up its post-Brexit immigration system, an influential new report has recommended. The Migration Advisory Committee’s long-awaited review, which the government is expected to lean heavily ahead of bringing forward its immigration bill in March, said the current Tier [...]
Profit tumbles at retirement specialist McCarthy & Stone January 28, 2020 Profit at UK retirement home-builder McCarthy & Stone dropped sharply last year against the backdrop of “a challenging market” and costs related to a new strategy, the firm announced today. Shares in the company were up 0.5 per cent in morning trading at 154.6p, however, indicating that investors were anticipating weak results. The figures Profit [...]
Crest Nicholson blames Brexit uncertainty for profit plunge January 28, 2020 Crest Nicholson’s profit plunged 39 per cent to miss revised forecasts in a terrible year for the housebuilder, it said today. The figures Profit before tax sank from £168.7m in 2018 to £102.7m for the year ending in October. That missed guidance of between £120m and £130m, the result of last October’s profit warning. Profit [...]
From climate change to the Iran crisis, we need to bring back the experts January 28, 2020 The EU Referendum set in motion a debate the nation had rarely seen before. Among the first casualties of the divisive and brutal campaign were the “experts”. As Michael Gove famously said, the country had had enough of experts getting it wrong. The public rejected advice from academics, business leaders and prominent politicians, and voted [...]
With 100 days to go, can Sadiq Khan lose the 2020 London mayoral election? January 28, 2020 Even Sadiq Khan’s biggest critics would acknowledge his skill in working a crowd. The mayor of London glides from person to person, selfie to selfie, handshake to handshake. At a time when politicians are not exactly enjoying public favour, he seems to have plenty of Londoners firmly on his side. The response toward Khan by [...]
City must fix training and culture to beat skills crisis, says report January 28, 2020 Financial services firms face a staffing crisis if they do not improve workplace culture, purpose and diversity and better train their existing employees, a Treasury-commissioned report has found. The City has been left struggling to adapt as the top graduates are increasingly choosing the tech sector over financial services and the changing nature of the [...]