‘The house has spoken’ Benn bill passes – and shock amendment September 4, 2019 MPs voted to demand the Prime Minister requests an extension to Brexit tonight – but with a surprise amendment passing by mistake. The Benn bill passed its third reading by 327 votes to 299 – a majority of 28. An amendment put forward by Stephen Kinnock, to bring the Withdrawal Bill agreed under Theresa May [...]
Sajid Javid’s spending plans raise eyebrows at think tanks and business bodies September 4, 2019 Chancellor Sajid Javid today announced he would “turn the page on austerity” with the biggest increase in government spending for 15 years. Read more: Sajid Javid proclaims the ‘end of austerity’ in spending round In his first major announcement after taking the helm of the UK economy, Javid turned his back on the approach of [...]
BoE’s Mark Carney says UK now better prepared for no-deal Brexit September 4, 2019 A worst-case scenario Brexit would now have a less severe effect on the economy than previously thought, Bank of England governor Mark Carney has said, although it would still take a big chunk out of UK growth. Read more: Sterling surges above $1.22 as MPs rip up Boris Johnson’s Brexit strategy This is “a direct [...]
IT services firm Kainos’ share price falls as it strikes cautious tone on political climate September 4, 2019 Digital services company Kainos shares tanked this morning after it told markets it was tentative around the issue of government spending given the possibility of a no-deal Brexit. Kainos’ market value had fallen to 8.6 per cent below the day’s opening price this afternoon. Read more: UK economy close to recession after stagnant service sector [...]
UBS cuts global growth outlook as US-China trade war bites September 4, 2019 UBS cut its outlook for global growth today, as trade war tensions weighed on the Swiss bank’s optimism for the year ahead. World growth is projected to grow by 2.5 per cent in the coming quarters, falling from a previous estimate of 3.2 per cent, as UBS cited the ongoing trade dispute between Washington, D.C. [...]
Could there be a UK general election in 2019? September 4, 2019 Boris Johnson suffered his first parliamentary defeat as Prime Minister last night as 21 of his own Conservative MPs rebelled against him on a crucial bill – could he now call a UK general election? The PM lost a vote by 328 votes to 301 that means the Commons will today decide whether or not [...]
Chancellor Sajid Javid proclaims ‘end of austerity’ in spending round September 4, 2019 Sajid Javid has proclaimed the “end of austerity” with a new spending round that protects every government department, with an additional £2bn to spend on Brexit planning. The chancellor said he would “turn the page on austerity”, tipping the country to move from “a decade of recovery to a decade of renewal”. Read more: Javid [...]
Digital sector salaries outstrip UK average but gender pay gap remains September 4, 2019 Salaries for employees in the UK’s digital sector are more than 50 per cent higher than the national average, according to government figures published today. Staff in digital-based roles earned on average £36,300 in 2018, which is 51.3 per cent higher than the UK average of £24,000. Read more: Surge in demand for UK tech [...]
Sterling surges above $1.22 after MPs rip up Boris Johnson’s Brexit strategy September 4, 2019 The pound hit $1.22 against the dollar as it continued to rise after MPs defeated Prime Minister Boris Johnson’s Brexit strategy in Parliament last night. Sterling hit $1.22 by lunchtime, helped by poor US manufacturing data, before falling back slightly. The pound is now hovering around $1.293, an increase of 0.89 per cent. Read more: [...]
Dunelm shares slide despite strong profit growth September 4, 2019 Shares in Dunelm slumped this morning despite strong profit growth as the homeware retailer warned of a challenging year ahead. Dunelm shares were down as much as nine per cent after it reported cautious outlook for the year ahead as Brexit uncertainty weakens consumer confidence. The figures Profit before tax was up 23.4 per cent [...]