UK’s inaugural green gilts to carry 2033 maturity August 27, 2021 The UK’s first green gilts, which are due to launch next month will have a maturity date of 31 July 2033, the Debt Management Office (DMO) announced this morning. The sale of the new gilts, the proceeds of which will go towards funding environmental projects, will take place in the week of 20 September. The [...]
Contactless limit to rise to £100 from October – CityAM : CityAM August 27, 2021 The limit for spending on contactless cards will reportedly rise from £45 to £100 on October 15. In March, Rishi Sunak confirmed that the payment limit would be raised in order to boost businesses as the UK recovers from the Covid-19 pandemic. UK Finance, an industry body which represents banks, today confirmed that the changes [...]
Britain and its allies must not use the IMF’s new special drawing rights to heap more debt on poor countries August 26, 2021 In 2008, the IMF created Special Drawing Rights (SDRs) – an international reserve asset used to supplement member countries’ official reserves – in response to the global financial crisis. This week it has done so again with a new target in mind: coronavirus. The IMF estimates ending the pandemic could inject $9tn into the global [...]
Britain and it’s allies must not use the IMF’s new special drawing rights to heap more debt on poor countries – CityAM : CityAM August 26, 2021 In 2008, the IMF created Special Drawing Rights (SDRs) – an international reserve asset used to supplement member countries’ official reserves – in response to the global financial crisis. This week it has done so again with a new target in mind: coronavirus. The IMF estimates ending the pandemic could inject $9tn into the global [...]
Government borrowing smashes expectations but debt-to-GDP highest since 1960s August 20, 2021 Government borrowing smashed official forecasts last month as the deficit narrowed by nearly half its levels registered at the height of the Covid crisis, official figures released today reveal. Data released by the Office for National Statistics shows in July of this year, public sector borrowing reached £10.4bn, the second highest figure for the month [...]
Government borrowing smashes expectations but debt-to-GDP highest since 1960s – CityAM : CityAM August 20, 2021 Government borrowing smashed official forecasts last month as the deficit narrowed by nearly half its levels registered at the height of the Covid crisis, official figures released today reveal. Data released by the Office for National Statistics shows in July of this year, public sector borrowing reached £10.4bn, the second highest figure for the month [...]
City figures warn London’s financial crown at risk if UK does not roll out digital Sterling August 18, 2021 City figures have warned that London’s status as Europe’s financial capital will be in serious jeopardy if the Treasury and Bank of England are slow to introduce digital Sterling. Rishi Sunak said last month that the Treasury was looking into one day releasing a so-called “Britcoin”, but that no decision had been made. Sunak said [...]
Government to breach manifesto pledge and scrap triple lock August 18, 2021 The Conservative government is set to break a key manifesto pledge next year to avoid placing further pressure on the strained public finances. The state pension will rise 2.5 per cent next year, breaching the Tories’ promise to retain the triple lock increase. Under the policy, the state pension rises by whichever is highest out [...]
Britain 2030: Reviving the industrial spirit along the River Thames August 17, 2021 Snaking inland from the dark of the North Sea, the River Thames has for centuries been the very lifeblood of London. In the 17th and 18th centuries, it was the Thames that put the capital right at the heart of Britain’s global empire, turning it into the modern, thriving metropolis it is today. Travel just [...]
UK unemployment rate shrinks faster than expected to 4.7 per cent August 17, 2021 The UK jobless rate shrank faster than expected over the last quarter as employers hired workers rapidly to cope with soaring demand triggered by the lifting of Covid restrictions, according to official figures published today. Latest data from the Office for National Statistics shows the unemployment rate dipped 0.2 per cent over the last quarter [...]