Small business lending tumbles amid strong economic rebound March 14, 2022 A strong economic recovery from the Covid-19 crisis led to borrowing among small businesses falling off a cliff last year, reveals fresh figures published today. Small firms took on £22.6bn in debt over the whole of 2021, down over 64 per cent compared to the previous year, according to figures from banking body UK Finance. [...]
Oil round up: India weighs up Russian oil as Boris Johnson calls on Saudi Arabia to boost output March 14, 2022 India is considering a Russian offer to buy crude oil and other commodities at discounted prices through a rupee-rouble transaction.
Lib Dems call for £18bn cut to VAT to ease cost of living crunch March 10, 2022 The Liberal Democrats are calling for an £18bn VAT cut that would see the rate slashed from 20 to 17.5 per cent in a bid to ease the cost of living crunch on British households. The Lib Dems say the new policy proposal, released on the eve of the party’s spring conference, would save households [...]
How stock markets perform after heavy falls March 9, 2022 While public attention has understandably focused on the grave humanitarian consequences of the invasion of Ukraine, global markets have reflected investors’ concerns about financial and economic impacts. Our live blog on the Ukraine crisis will be updated regularly throughout the week, it can be found here. To date the current crisis has seen major markets fall [...]
CPS: Shield exports from tax to boost Global Britain and small business March 7, 2022 Shielding spending on ramping up exports from taxes will unlock a well of economic growth by boosting engagement with trade among Britain’s small businesses, a new report recommends today. Allowing firms to cut their tax bills by offsetting investment in exports would strengthen incentives for small firms to participate in trade, according to the Centre [...]
All aboard the crypto train? February 22, 2022 Are you a wealth manager who believes bitcoin and other cryptocurrencies are a passing fad or worse? You’re not alone. But you also may want to reconsider. The wealthiest clients certainly don’t agree and they are voting with their wallets. In fact, 72% of high-net-worth individuals (HNWIs) have invested in crypto, according to the 2021 [...]
Exclusive: Millions of small businesses vulnerable as £672bn of business loans go unprotected February 10, 2022 Around £672 billion of corporate borrowing by SMEs is unprotected, which could leave businesses vulnerable to any future financial shocks. New data from Legal & General, shared exclusively with City A.M. this morning, shows that three in four of all small and medium size businesses in the UK are carrying some form of corporate debt, [...]
Cost of living crunch already hitting consumer spending even before inflation peaks February 8, 2022 The cost of living crunch is prompting Britons to rein in spending even before inflation reaches its expected summit this spring, reveals new research published today. An erosion in household budgets triggered by inflation hitting its highest level in nearly three decades weighed on consumer spending last month, according to figures from Barclaycard. UK spending [...]
Millions of low-paid Brits face ‘perfect storm’ of energy bills and tax rises February 7, 2022 A new report sent to City A.M. this morning warns that millions of low-paid workers are facing a “perfect storm” of higher energy bills and tax rises while Universal Credit (UC) falls behind the cost of living. The TUC union said its research suggested the number of workers on UC has increased by 1.3m since [...]
Starmer ramps up attacks on ‘high tax’ Boris Johnson and Rishi Sunak February 2, 2022 Sir Keir Starmer has renewed attacks on Boris Johnson for overseeing a series of tax rises, saying that the Prime Minister is targeting “working people” as inflation soars. The Labour leader today said Johnson and chancellor Rishi Sunak were like a “Tory Thelma and Louise, hand-in-hand as they drive the country off the cliff and [...]