Michael Gove says only ‘unprecedented and remarkable’ Covid-19 change would delay 19 July ‘terminus date’ June 15, 2021 Michael Gove said 19 July is the absolute “terminus date” for ending England’s remaining coronavirus restrictions, and only an “unprecedented and remarkable” change would push it back further. The Cabinet Office minister’s comments came the morning after Boris Johnson announced a delay of four weeks to so-called “Freedom Day”, the fourth and final step of [...]
Rishi Sunak not expected to alter furlough scheme despite Freedom Day delay June 14, 2021 Rishi Sunak not expected to alter furlough scheme despite 'Freedom Day' being scrapped
Hospitality chiefs call for more clarity as ‘freedom day’ set for delay June 14, 2021 The owner of the Franco Manca Pizza chain David Page has warned the “lack of concrete delay” to the government’s lockdown easing roadmap is the biggest problem facing the hospitality sector. Boris Johnson is expected to announce a four week delay to so-called “freedom day” later today, just a week before the 21 June date [...]
IMF boss indicates opposition to Sunak’s call for City of London exemption to G7 tax deal June 13, 2021 The head of the International Monetary Fund has strongly indicated City of London firms should not be exempt from the global tax plan agreed at the G7, after Rishi Sunak called for a special carve-out for the UK’s financial services industry. When asked by City A.M. if she supported Sunak’s push, IMF managing director Kristalina [...]
BoE and BIS launch London banking hub for post-pandemic tech boom June 11, 2021 The Bank of England (BoE) and Bank for International Settlements (BIS) have launched a London coordination hub today, that seeks to coordinate central banks on technological innovation. The BIS Innovation Hub London Centre, the fourth new BIS Innovation Hub in two years, will help banks in the era of digital acceleration post-pandemic. “The UK is [...]
UK economy grew by 2.3 per cent in April as high street and hospitality reopened June 11, 2021 Britain’s economy grew by 2.3 per cent in April as government restrictions affecting economic activity continued to ease. It was the fastest monthly growth of gross domestic product (GDP) since July last year and exceeded economists’ forecast of a 2.2 per cent jump. In comparison with April 2020, monthly GDP in April 2021 is estimated [...]
Airlines bid for furlough to be extended until next May June 10, 2021 The UK airlines industry has called on the Treasury to extend furlough for sector workers until the end of April next year as the wait for the lifting of travel restrictions goes on. After weeks of speculation, the industry’s hopes were dashed in May when the government revealed that just 12 countries and dependencies would [...]
DEBATE: Will a global minimum corporate tax lead to real change for multinational giants? June 9, 2021 Chancellor Rishi Sunak has agreed to back a deal with G7 nations to create a global minimum corporate tax rate of at least 15 per cent. The agreement has been hailed a world-first to crack down on multinationals shifting profits to low-tax countries in order to skirt tax rules. The proposal, however, has also been [...]
Haldane: Rishi ‘played a blinder’ but inflation fears are very real June 9, 2021 The threat of inflation is very real for chief economist at the Bank of England Andy Haldane, who this morning said the UK could “overshoot” its inflation target for longer than planned. Speaking on LBC this morning Haldane said there are “punchy pressures on prices” across the UK economy. A combination of high prices on [...]
Sunak pushes for City of London exemption from G7 tax plan June 9, 2021 Chancellor Rishi Sunak is pushing for an exemption for the City of London from the G7’s recently agreed global tax plan. Sunak is looking for a deal for financial services, the Financial Times first reported, in wake of fears that global banks with head offices in London could be affected. Major banks are headquartered in [...]