Tax cuts won’t cut it; the new Tory leader must bring about innovation July 13, 2022 As I write, every candidate vying to be the next Conservative Party leader – with the exception of Rishi Sunak – has promised major tax cuts. In many ways this is welcome, as taxes can deter investment and increase the cost of living. During a time where families are struggling to make ends meet and [...]
Create investment boosting tax system to end economic malaise, CBI chief urges Tory leadership hopefuls July 13, 2022 Creating a tax system that boosts business investment to lift the UK out of its growth malaise is the only way to solve the country’s economic stagnation. That’s according to the chief of the Confederation of British Industry (CBI), the country’s largest business group. In an open letter to Conservative leadership candidates published today, Tony [...]
Tory leadership race: Javid drops out as eight candidates announced for first ballot July 12, 2022 Sajid Javid has tonight dropped out of the Conservative party leadership race as the eight contenders for tomorrow’s first vote are announced. Javid struggled to get the endorsements of the 20 MPs necessary to get on the ballot, with the former health secretary saying he now wanted to see the “debate unfold and to see [...]
Rees-Mogg: Treasury ‘hasn’t been serious’ about Covid fraud July 12, 2022 Brexit minister Jacob Rees-Mogg has today said the Treasury “hasn’t been serious” about Covid fraud amid recent figures showing that more than £10bn was lost to scammers. In a further attack on Tory leadership frontrunner Rishi Sunak, Rees-Mogg said on his podcast that the ex-chancellor’s economic policies and “the approach of the Treasury as an [...]
Tory leadership: Priti Patel will not stand in contest July 12, 2022 Home secretary Priti Patel has decided not to run for leadership of the Tory party, leaving Liz Truss as the likely standard bearer for the right of the party. Patel said in a statement today that she was “grateful for the encouragement and support” of her fellow Tory MPs, but that “I will not be [...]
Exclusive: Penny Mordaunt savaged by trade colleagues who say she’s been ‘missing for months’ July 12, 2022 Top Tory leadership candidate Penny Mordaunt has been accused by senior Whitehall figures of neglecting her duties as a trade minister for the past six months, with one claiming “we’ve been a minister down for a long time”. A senior source from the Department for International Trade (DIT) told City A.M. that other ministers had [...]
Government set to unveil fresh capital markets reform to boost the City July 12, 2022 The government is set to push through a number of further reforms to the City’s capital markets to ease the way that listed firms can raise cash and allow greater participation from retail investors.
Tory leadership: Shapps and Raab back Rishi Sunak to be next PM July 12, 2022 Transport secretary Grant Shapps and deputy Prime Minister Dominic Raab have backed Rishi Sunak to be the next Tory party leader, with the former chancellor today vowing “a return to traditional conservative economic values” if he becomes Prime Minister. Shapps’ endorsement comes after he decided to call off his faltering campaign and throw his lot [...]
New Chancellor Nadhim Zahawi in spat with Bank of England’s Andrew Bailey: ‘I’m just setting out my stall as prime minister!’ July 12, 2022 Chancellor Nadhim Zahawi insisted this morning it was appropriate for him to set out tax proposals during his Tory leadership race after criticism from Bank of England Governor Andrew Bailey. He told BBC Breakfast this a.m.: “I’m just setting out my stall as prime minister! And I have fully costed these pledges, and I’ll be [...]
Opinion-in-brief: The Tory leadership race is training in the art of scheming July 12, 2022 A “dirty dossier” on Rishi Sunak – shared by an ally of Priti Patel – contained lines of attack against the frontrunner in the race to become party leader. One was that Sunak had been plotting this all along – with a campaign website domain registered in 2019. Sunak’s campaign team has denied owning readyforrishi.com, [...]