Citizens Advice calls for better use of personal data to create social tariff March 8, 2023 The government should use Brits' personal data about income tax rates and energy usage to create a new social tariff, argues Citizens Advice.
PwC fined £7.5m over repeated failures in audit of Babcock International’s accounts March 8, 2023 Britain’s accounting watchdog has fined PwC and two of its former partners a combined sum of almost £8m over repeated failures in the firm’s audits of UK defence company Babcock International and its Plymouth dockyard subsidiary. The UK’s Financial Reporting Council (FRC) hit PwC with a £7.5m fine – discounted to £5.625m for the firm’s [...]
Crypto markets respond to latest US inflation numbers March 8, 2023 The price of Bitcoin was falling from $22,012 this morning, while Ethereum is valued at $1,554 as crypto markets respond to interest rate news.
Almost all London councils set to raise taxes as funding situation becomes ‘unsustainable’ March 7, 2023 More than half of local councils in England are set to make cuts to services while raising council tax by the highest possible amount amid an “unsustainable” funding system. A fifth of London councils say budget cuts will be evident to the public and almost 95 per cent will raise residents’ council tax bills, the [...]
The financial crisis lurking in the shadows: Why regulators must now turn their attention to shadow banking March 6, 2023 Some would argue that predicting the next financial crisis is a near impossible task. But Nobel-prize winning economist Douglas Diamond said in October last year: “The last [financial crisis] started in the banks, it stayed in the banks. This one’s going to start in the shadow banks and the companies.” Shadow banking encompasses a variety [...]
We need a new deal for affordable housing, empowering councils to join forces with private developers March 3, 2023 The current framework for building affordable housing is not working - the shortage is abysmal. We need a new deal between councils and private developers that puts affordability first, writes Jonathan Werran
Revolut auditor flags concern over £477m of revenue in long-delayed 2021 accounts March 1, 2023 Revolut’s auditor BDO was not able to independently verify three-quarters of the £636m total revenue reported by the fintech firm in its long-delayed 2021 accounts, Revolut’s annual report showed. The 2021 accounts were signed off this week after months of delays, following a revamp of Revolut’s internal accounting systems and heavy regulatory scrutiny. But BDO [...]
The Notebook: Giles Kenningham on improving Rugby’s fortunes, banning the bots and the renewable investment boom February 28, 2023 The Notebook is a place for interesting people to say interesting things. Today, it’s Giles Kenningham, founder of Trafalgar Strategy.
Governance won’t make a Big Bang but it can ensure the City’s competitiveness February 23, 2023 In this guest opinion piece, James Ashton, the chief executive of the Quoted Companies Alliance argues that governance improvements in the City – not least more use of the QCA Code – could be transformative for the Square Mile’s competitiveness WITH all the talk that another Big Bang is needed to revive the City’s global [...]
UK public services struggling despite near 70-year tax high, report warns February 23, 2023 UK public services can no longer match people’s expectations despite the tax burden being on course to hit a 70-year high, a think tank report has warned. Government decisions to date have done “little to shift the dial,” the Institute for Government (IfG) and CIPFA warned today in their latest performance tracker on the state-run [...]