Labour rules out unity government plan to block no-deal Brexit October 8, 2019 Labour has definitively ruled out opposition plans for a government of national unity as part of efforts to prevent a no-deal Brexit, City A.M. understands. The rainbow coalition of anti-no-dealers, including a swelling tribe of Liberal Democrat MPs, has tried repeatedly to find a suitable candidate to lead a caretaker government in a bid to [...]
Sadiq Khan: Here’s my plan to build housing Londoners can actually afford October 8, 2019 I know the difference that having a council home can make because it’s a big part of the story of my life. My parents were fortunate enough to be able to raise me and my siblings in a fantastic family-sized council home, building up close relationships in the community over the years. Read more: Rory [...]
UK productivity falls at fastest rate in five years October 8, 2019 UK productivity fell at the quickest pace in five years in the second quarter, official figures showed today, marking a worsening of Britain’s decade-long productivity crisis. Read more: Brexit prep has cut UK productivity, says Bank of England Output per hour worked dropped 0.5 per cent in the three months from April to June compared [...]
Brexit deal ‘overwhelmingly unlikely’, Merkel tells PM October 8, 2019 German Chancellor Angela Merkel has told Boris Johnson a Brexit deal is “overwhelmingly unlikely” as talks in Brussels teeter on the brink. Johnson spoke with Merkel on the phone this morning, as part of his ongoing charm offensive to get an 11th-hour deal secured. However, a Downing Street source claims that Merkel told the PM [...]
Bank of England governor appointment ‘on track’, says chancellor Sajid Javid October 8, 2019 Chancellor Sajid Javid has stressed plans to appoint a new Bank of England governor are still “on track”, despite resources being redeployed towards Brexit planning. Javid has written to the Treasury Select Committee – which is still without a chair after Nicky Morgan entered government this summer – to reassure MPs that a new head [...]
Heidi Allen: Legal attempt to force Brexit extension is ‘watertight’ – despite Johnson’s plans to ‘scupper’ it October 8, 2019 Boris Johnson’s plan to get around a law which delays Brexit past 31 October is going to fail, according to the latest MP to join the Lib Dems, Heidi Allen. Allen, a former Tory MP who announced she had joined the Lib Dems last night, said the Benn act was legally watertight. Read more: Ex-Tory [...]
Mark Carney says Bank of England to stress test banks with ‘catastrophic’ climate scenario October 8, 2019 Bank of England governor Mark Carney has reiterated Threadneedle Street’s intention to stress test banks against a number of “climate pathways,” including a “catastrophic business as usual scenario”. Read more: Bank of England’s Mark Carney says UK now better prepared for no-deal Brexit Speaking at a summit about climate change and banking in Japan, Carney [...]
Brexit: Government pledges to cut tariffs if there’s no deal October 8, 2019 The government has pledged to cut tariffs on lorries imported into the UK, and apply new tariffs on clothing imports, in the event of a no-deal Brexit. For the first year after the UK leaves the EU, the government will reduce the tariff from 22 per cent to 10 per cent. The move comes after [...]
Downing Street: Anti-Brexit countries will ‘go to bottom of queue’ in future talks October 8, 2019 Countries that support a delay to Brexit “will go to the bottom of the queue” when negotiating the UK’s future relationship, a source within Downing Street has said. As tensions rise ahead of the weekend – viewed on both sides as a critical point for determining whether a deal can be struck in time – [...]
Shares in recruiter Pagegroup tumble as it warns on profits for second time October 8, 2019 Recruiter Pagegroup delivered its second profit warning of 2019 today sending shares tumbling, blaming challenging trading conditions in the UK, France and China and deteriorating economic conditions in markets such as Germany. The recruiter cut its forecast for 2019 operating profit to between £140m and £150m, down from earlier market estimates of between £156.5m and [...]