Covid-19 and “stakeholder capitalism”: actions speak louder than words October 19, 2020 The idea that companies should be run for the benefit of all their stakeholders, not just shareholders, is not new. “Stakeholder capitalism”, as it’s become known, was actually the dominant corporate model long before “shareholder primacy” (i.e. prioritising shareholders) really took hold in the Anglo-Saxon world in the 1970s. It remains the norm in some [...]
A message to Rishi from entrepreneurs: Forget tax hikes and let the go-getters get going October 15, 2020 Rishi Sunak certainly deserves praise for his response to the pandemic — so far. Because, as his recent statement to the Commons showed, the real test has only just begun. We have seen the chancellor take decisive action to avoid a bonfire of jobs, and he clearly has his eyes on the future. His speech [...]
Think tanks warn Sunak not to hurt UK’s ‘tax competitiveness’ October 14, 2020 Free-market think tanks have warned the government not to raise taxes on companies and dividends to try to mend the hole in the public finances, arguing that it would be an act of “self-sabotage”. The UK budget deficit is set to hit £350bn this year, the Institute for Fiscal Studies (IFS) think tank said yesterday. [...]
Leading business figures call on Sunak to slash taxes to return to 90s growth October 5, 2020 Leading business figures have backed calls from the Institute for Economic Affairs (IEA) for the government to implement similar policies to those that contributed to the best period of economic growth in recent history. These include slashing and streamlining taxes in order to build a “bright future”. Wetherspoons founder Tim Martin, JP Morgan VP Laurence [...]
Uber wins bid to regain London operating licence September 28, 2020 Uber has won its legal bid to regain its licence to operate in London after a long-running court battle. Deputy senior district judge Tan Ikram said that despite its previous failings, the firm was now “fit and proper” to hold a licence. Ikram decided to give the firm a licence to operate for 18 months, [...]
Small business would suffer from a capital gains tax hike – not just investors September 28, 2020 Capital gains tax (CGT) increases were reported to be in the chancellor’s sights before the Autumn Budget was cancelled to allow Rishi Sunak to focus on his winter economic plans. However any changes to CGT down the line could discourage small business investment just when it is needed most, says Claire Madden. Has there ever been a [...]
Republicans or Democrats: who is better for the economy? September 22, 2020 We’re in the midst of another US presidential election. And as we do every four years, we’ll hear talk about the presidential cycle and why Republicans, because of their more business-friendly policies, are better for the economy and stock markets than Democrats. But as with so much common knowledge, the evidence for this is much [...]
Rishi Sunak considers slashing welfare and public sector pay September 20, 2020 Rishi Sunak is reportedly planning on freezng benefits and public sector pay as a part of a bid to offset the Treasury’s coronavirus spending. The government has spent around £190bn in emergency Covid-19 funding, which has put this year’s budget deficit at an estimated £350bn – 12-times higher than pre-crisis expectations. Media speculation has been [...]
Rishi Sunak eyes fresh tax breaks for UK businesses September 13, 2020 Rishi Sunak is mulling over multi-billion pound tax cuts for UK businesses that invest in property, plant and equipment in the wake of the coronavirus crisis. The plans involve giving companies tax breaks on capital investments, such as machinery, in an attempt to stimulate economic activity and boost the government’s “levelling up” agenda. Companies receive [...]
Mairead McGuinness: Meet the EU’s future finance boss September 10, 2020 Mairead McGuinness was this week nominated as the new EU financial services commissioner following the recent resignation of her Irish counterpart and EU trade chief Phil Hogan. Mr Hogan departs having found himself in the centre of a “golfgate” scandal, breaking lockdown rules by attending a dinner in County Galway, Ireland, with more than 80 [...]