Tory leadership race: Boris Johnson and Jeremy Hunt reveal fresh pledges June 27, 2019 Boris Johnson has promised to deliver an Australian-style points-based immigration system as Prime Minister if he wins the Tory leadership race. Johnson vowed to be “tougher on those who abuse our hospitality” and restore the public’s trust in the UK’s immigration system. Read more: Like Boris, Jeremy Hunt should beware of promising spending splurges Meanwhile, [...]
On-the-shelf idea: Time to get our libraries booked for business June 27, 2019 There has been much debate around the demise of the high street. Big brands are going under, and there is an increasing number of empty shops littering the retail landscape. As a passionate retailer and entrepreneur, I find this a depressing sight. But in all the debate around business rates, the threat of online, and [...]
A bold pro-business Prime Minister should let Liz Truss shake things up June 27, 2019 There’s another month to go until we have a new Prime Minister, but pro-market Conservatives can already start breathing a sigh of relief. For a start, both contenders for the top job have pledged to cut tax. Jeremy Hunt has promised to cut the rate of Corporation Tax from 19 per cent to 12.5 per [...]
UK economic growth expected to slow as Brexit and global tensions bite June 27, 2019 The UK’s economic growth is expected to slow as prolonged uncertainty over Brexit and global headwinds take their toll. Audit firm KPMG said today it expects the UK’s gross domestic product (GDP) growth to reach 1.4 per cent in 2019, falling to 1.3 per cent in 2020 – down 0.2 per cent since its last [...]
Blanket bans ‘not the answer’ to Huawei question, report warns June 27, 2019 The UK must find a “compelling” risk management approach to Chinese tech firm Huawei rather than rolling out a blanket ban, according to a report published today. Defence think tank the Royal United Services Institute (RUSI) questioned whether it was realistic to ban all Chinese tech from UK national infrastructure, and argued the government should [...]
Carney warns that Woodford-style funds are ‘built on a lie’ June 26, 2019 The governor of the Bank of England Mark Carney blasted funds like Neil Woodford’s today which he said were “built on a lie”. Woodford’s flagship £3.7bn Equity Income Fund was frozen earlier this month after it was hit by a wave of withdrawals it could not meet. Carney told MPs on the Treasury Committee that [...]
Hunt: Boris Johnson’s no-deal Brexit will put Corbyn in Downing Street June 26, 2019 Boris Johnson’s “do or die” Brexit pledge risks installing Jeremy Corbyn in Downing Street, Conservative leadership Jeremy Hunt has warned. The foreign secretary hit back at his rival in the race to be Prime Minister after Johnson made it clear he would take the UK out of the EU with or without a deal on [...]
No-deal Brexit fears have increased, Bank of England governor Mark Carney warns June 26, 2019 Market expectations of a no-deal Brexit have increased over the last few months, Bank of England (BoE) governor Mark Carney warned today. The uncertainty surrounding the UK’s future relationship with the European Union is having a greater impact on businesses than before the original Brexit deadline date of 29 March. Read more: 150,000 firms not [...]
UK property market: Mortgage approvals dip from 26-month April high June 26, 2019 The number of residential mortgages approved by banks dipped last month, easing back from a 26-month high in April but remaining above the monthly average. Seasonally adjusted figures show that banks in Britain approved 42,384 house purchase mortgages in May, falling from roughly 42,900 in April but beating the consensus of 41,000. Read more: London [...]
UK banks restart no-deal Brexit planning June 26, 2019 UK banks are beginning to restart preparations for a no-deal Brexit, according to auditor EY. British financial institutions had paused their Brexit strategies over the past three months after the UK’s original 29 March departure date was extended until Halloween. Read more: Boris challenges Jeremy Hunt to commit to 31 October Brexit But banks have [...]