General Election: Boris Johnson sets out 100-day plan as polls predict Tory win December 5, 2019 Boris Johnson has pledged to deliver Brexit, slash taxes in a new Budget and give a boost to healthcare in the Tories’ first 100 days as a majority government if he wins the General Election. The Prime Minister said only a Conservative victory would allow the country to end its Brexit uncertainty, while he has [...]
Why another property fund freeze was inevitable December 5, 2019 Why does it feel like we have been here before? Well, it’s because we have. It wasn’t that long ago when thousands of investors in property funds flocked to the exit door after the referendum, forcing several major asset managers to temporarily block withdrawals. So cue the deja vu when M&G yesterday suspended trading in [...]
The tampon tax isn’t the problem — our warped VAT system is December 5, 2019 Last week, Boris Johnson promised to scrap the so-called “tampon tax” — the VAT levied on feminine hygiene products. The current VAT regime, which dates back to the 1970s, cannot be changed while Britain remains in the EU. Feminists and progressives have long argued that such a tax is unfair and sexist, so scrapping it [...]
Growth in business lending set to hit five-year low December 5, 2019 Bank lending to firms is expected to creep up at its weakest rate since 2015 next year, with experts blaming dampened appetite for business investment. Growth in business lending will likely climb by 2.1 per cent in 2020, according to research out this morning by the EY ITEM Club. Read more: Moody’s downgrades outlook for [...]
UK legal sector generated £35.8bn in 2018 December 5, 2019 Revenue generated by legal activities in the UK increased six per cent year-on-year in 2018 to hit £35.5bn, according to a report published today. The report by lobby group TheCityUK said the output of legal services in terms of gross value added (GVA) was £26.8bn, or 1.5 per cent of total UK GVA in 2017 [...]
General Election 2019: Conservatives set out vision for first 100 days of new government December 4, 2019 The Conservatives have pledged to deliver Brexit within the first 100 days of a majority government. Boris Johnson, who this summer committed to leaving the EU by 31 October “come what may”, said if voters return a Tory majority in the election next week he will push the Withdrawal Agreement through parliament to meet the [...]
Iain Duncan Smith: ‘We don’t have champagne socialists here’ December 4, 2019 On the campaign with… Iain Duncan Smith Labour has made no secret of its plan to unseat former Conservative leader and minister Iain Duncan Smith in favour of Corbynite candidate Faiza Shaheen. Hundreds of the hard-left Momentum group’s activists have been diverted into Chingford and Wood Green in the past few weeks in the hope [...]
Global growth to pick up next year despite US and China slowdowns, says report December 4, 2019 Global economic growth is set to pick up in 2020 despite the world’s two biggest economies slowing, according to asset manager Investec. The world economy will expand 3.3 per cent in 2020, Investec said, picking up from a post-crisis low of 2.9 per cent growth this year. Read more: FTSE 100 slumps as Trump suggests [...]
M&G suspends trading in £2.5bn property fund over Brexit fears December 4, 2019 Trading has been suspended in M&G’s £2.5bn property fund after investors rushed to withdraw their money. Asset management giant M&G said the Property Portfolio has seen unusually high outflows, and blames continued Brexit-related political uncertainty for the fund suspension, which had made it difficult to sell commercial property. Read more: UK property investors fear Brexit [...]
‘Clearance to take off’: Tory majority to propel UK economy, report says December 4, 2019 A convincing Tory majority at the upcoming election will send the pound surging to a three-year high and put rocket boosters under the UK economy, according to asset manager Toscafund. In a new poll shared exclusively with City A.M., Toscafund predicted Boris Johnson’s Conservatives will win a majority of about 30 in the 12 December [...]