Construction industry still struggling for momentum October 14, 2016 British builders downed tools over the summer, as construction output missed economists' expectations in the wake of the EU referendum. Activity in the sector, which accounts for around six per cent of the UK economy, dropped by 1.5 per cent between July and August, the Office for National Statistics (ONS) confirmed this morning. The fall [...]
Sterling drops below post-Brexit vote low to its weakest since 1985 October 4, 2016 Sterling has dropped this morning to its weakest since 1985, dipping by 0.5 per cent to $1.2779. The pound has been in decline since Prime Minister Theresa May announced the timetable for Brexit negotiations over the weekend, and plunged even further this morning. Sterling has also been pulled down by concerns over the possibility of a [...]
What to expect from Philip Hammond’s Autumn Statement September 21, 2016 The UK entered a period of heightened political and economic uncertainty following the EU referendum. But as the fog begins to clear, we are starting to see more clearly what might be on the horizon. We downgraded our forecast for UK economic growth in the aftermath of the referendum. Our concerns have since receded, as [...]
At the close: FTSE 100 dips as pre-BoE jitters seize European markets July 13, 2016 The FTSE 100 has dialled back its earlier gains to skid at the close this evening. The blue-chip index finished down just a touch at 6,670.40, off by 10 points – or 0.15 per cent. It's the second flat close on the bounce for the FTSE 100 after ending yesterday's session unchanged. It had earlier in today's session climbed to 6,717.17. The [...]
Syria airstrike vote 2015: Here’s how your MP voted December 3, 2015 Last night MPs voted in favour of the UK beginning airstrikes against Islamic State (Isis) with an overwhelming majority of 397 votes to 223, following a gruelling 10-hour debate in the House of Commons. The move was controversial, with huge numbers of people protesting against military intervention. Some Labour MPs claimed they were being intimidated to [...]
If you’ve a grip on the Calais migrant crisis Mr Hammond, why don’t you come take a look? August 4, 2015 We British know how to queue, that is without a doubt. But last Wednesday I was sitting in a cab in Calais next to a lorry driver from Yorkshire in one of the most unpleasant queues of my life, while gangs of young men wandered past us eyeing up which UK bound lorry they thought [...]
George Osborne becomes favourite for Conservative leadership, knocking Boris Johnson into second place July 27, 2015 George Osborne is now the most likely Conservative to replace David Cameron as leader of the party, according to William Hill. Read more: July Budget 2015: Chancellor George Osborne plans to crack down on non-doms The chancellor's odds were increased today following a month of rising popularity since his Budget speech, and he now [...]
Government spending review: How George Osborne’s 40 per cent cuts would shrink each department July 22, 2015 George Osborne’s spending review will have struck fear into many a government department. The chancellor has committed to cutting £20bn from the public purse and, as well as kicking off a major land-grab of from public property in an attempt to address Britain's housing supply crisis, he's tasked each department to come up with projections for [...]
EU referendum: MPs clash over voting franchise and reforms in debate June 9, 2015 Members of Parliament filled the House of Commons to debate the government's proposed EU referendum, as parties clashed over the future of the UK and the EU. Foreign secretary Phillip Hammond introduced the EU Referendum Bill, calling it a "simple but vital piece of legislation". He said that the EU is often seen as "something [...]
David Cameron’s cabinet reshuffle: Iain Duncan Smith keeps job as Tory big beasts are reappointed May 11, 2015 David Cameron will today confirm that Iain Duncan Smith is the latest big gun in the new all-Tory cabinet, holding on to his job as work and pensions secretary. Duncan Smith will be in charge of meeting the Conservative pledge to find £12bn worth of savings in the welfare budget by 2020. Only £2bn of [...]