The Bank of England could – and should– have raised UK interest rates much sooner July 20, 2015 Heartening as it was to hear the governor of the Bank of England, Mark Carney, dropping hints last week about the raising of Bank Rate, serious doubts remain over the effectiveness of the low interest rate regime in reviving the economy. Moreover, the impression continues to be given that the delay in raising rates carries [...]
Good news for landlords: Rents are rising faster than house prices July 17, 2015 All right, so landlords might have been hit by the Chancellor's new rules on mortgage tax relief – but rents might just help to make up for that, after they rocketed 5.6 per cent in the year to June – the fastest rise since 2009. Read more: Landlord it by Summer Budget proposals? Here's what [...]
Challenger banks face an uphill battle as George Osborne widens levy net July 15, 2015 The heads of the UK’s fast-growing crop of challenger banks were entitled to reach for a stiff lunchtime drink as they absorbed the first Conservative Budget for two decades last week. At a stroke, George Osborne’s decision to impose a super-tax on industry profits above £25m undermined everything he has said about broadening competition [...]
FTSE lifted by a housebuilders and AB Foods – London Report July 9, 2015 BRITAIN’S top equity index moved further away from this week’s six-month lows yesterday, lifted by well-received results from Associated British Foods and Barratt Developments. AB Foods, the owner of Primark, gained 5.1 per cent to 3,082p to be the top riser on the blue-chip FTSE 100 after it posted robust results, maintaining guidance and with [...]
Buyout barons hit with a tax clampdown on carried interest July 8, 2015 UK PRIVATE equity dealmakers will be forced to pay more tax on performance fees after plans were unveiled to enforce higher capital gains charges on their income. So-called carried interest – the share of profits private equity managers take from a fund – is currently taxed at capital gains tax rates of 28 per cent [...]
July Budget 2015: Are you an entrepreneur, an apprentice or a single parent? What does George Osborne’s statement mean for you? July 8, 2015 THE SINGLE PARENT Catherine Gannon, 51Managing partner at law firm Gannons Gannons Commercial Law continues to do well, with profits and earnings up on last year. Catherine is commercially savvy and has restructured the business from an LLP to a limited company, illustrating that she is a smart operator in a segmented legal [...]
Productivity isn’t such a puzzle: Five steps to unleash business’s potential July 5, 2015 Solving the “productivity puzzle” is consuming a lot of brain power in UK business and economic circles. But is it quite the conundrum it’s made out to be? Productivity is certainly a serious issue. The latest data offers a hopeful sign – as reported output per hour was 1.3 per cent higher in the first [...]
July Budget 2015: Make investments easier through tax reforms to create “equity economy”, business leaders urge George Osborne July 5, 2015 George Osborne must make radical changes to the tax system to unlock the investment potential of millions of Brits and inject growth into the economy. The chancellor's Budget, due on Wednesday, should include ambitious reform of the tax system to encourage people to buy a stake in businesses and create an "equity economy", the Institute of [...]
George Osborne’s challenge: Will he make his mark as a tax reformer? July 2, 2015 Next week’s Budget is a big opportunity for George Osborne – now he’s able to shape public spending and tax policy free of the constraints of coalition politics. One of his Budget themes should be tax reform. In the 70 years since the end of the Second World War, there have been 22 chancellors of [...]
Eurosceptic Business for Britain report sets the stage for Brexit June 22, 2015 A new report from business leaders is giving momentum to an increasingly well-organised group of Eurosceptics who stand to vote “no” - in favour of the UK leaving the European Union – in an in/out referendum. “Change, or go,” a new report from the Eurosceptic Business for Britain campaign group, argues that the UK “could prosper and [...]