Small business would suffer from a capital gains tax hike – not just investors September 28, 2020 Capital gains tax (CGT) increases were reported to be in the chancellor’s sights before the Autumn Budget was cancelled to allow Rishi Sunak to focus on his winter economic plans. However any changes to CGT down the line could discourage small business investment just when it is needed most, says Claire Madden. Has there ever been a [...]
Boris Johnson facing parliamentary defeat over Covid powers September 27, 2020 Boris Johnson is facing his first parliamentary defeat since winning the 2019 election, with up to 60 Tory MPs prepared to defy party whips and vote for an amendment to new Covid legislation. Legislation to extend powers allowing the Prime Minister to unilaterally impose coronavirus restrictions by a further six months will come before the [...]
Restaurant industry risks ‘lost generation’ without more support, top chefs warn September 27, 2020 Raymond Blanc and Michel Roux Jr have warned that the restaurant industry risks losing a generation of talent and will “suffer enormously” amid fresh coronavirus restrictions and gaps in government support. Industry figures have condemned the new 10pm curfew as “devastating”, while a quarter of hospitality businesses fear they will go bust by the end [...]
Evidence on negative rates ‘encouraging’, says Bank of England policymaker September 27, 2020 The Bank of England has seen “encouraging” evidence that negative interest rates could help the British economy during the downturn triggered by the coronavirus, a policymaker has said. Silvana Tenreyro, who sits on the Bank’s monetary policy committee (MPC), said the committee has been discussing what options it has in its toolkit, including “how effective [...]
Boris Johnson to call for greater international cooperation in UN speech September 25, 2020 Boris Johnson will use his speech at the UN General Assembly on Saturday to call for greater international cohesion while also laying out a five-point plan to prevent future pandemics. The Prime Minister is expected to say that the coronavirus pandemic has created larger divides in geopolitics “at a time where closer collaboration is more [...]
FTSE 100 slips but US stocks rise amid Covid worries September 25, 2020 The FTSE 100 slipped but US stocks rose as European stocks headed for their worst week since June, with investors rattled by rising coronavirus cases. London’s blue chip index was down 0.1 per cent to 5,819 points as it approached the close, despite having opened higher. The FTSE 250 was up 0.8 per cent, however. [...]
Poll says Rishi Sunak the most popular chancellor in 40 years September 25, 2020 Big spender Rishi Sunak is the most popular chancellor since Labour’s Denis Healey in the 1970s, according to a new poll, which showed even Labour voters are pleased with his performance. Pollster Ipsos Mori said 64 per cent of the British public was satisfied with the way Sunak was running the economy as chancellor of [...]
Cardiff and Swansea heading into lockdown from 6pm tomorrow as Wales battles Covid-19 case resurgence September 25, 2020 The residents of Welsh cities of Cardiff and Swansea face tougher restrictions with a lockdown coming this weekend. The lockdown in Wales means people will not be able to leave the area or mix with other households in an indoor setting. The Welsh government announced local lockdown restrictions would be brought in for the capital Cardiff and [...]
Government borrowing jumps in August as Covid costs grow September 25, 2020 UK government borrowing shot up in August as tax receipts slipped and spending on coronavirus stimulus grew, the latest figures have shown. Public sector net borrowing jumped to £35.9bn, the third-highest monthly total and the highest August total on record, the Office for National Statistics (ONS) said. It compared with borrowing of £5.4bn in August [...]
Rishi Sunak ‘ready to do more’ if national Covid lockdown declared September 24, 2020 Rishi Sunak has vowed that he is willing to extend his newly announced wage subsidy scheme if a further national lockdown is implemented. Sunak today launched the Jobs Support Scheme, which will allow full-time workers to go back to work part-time and have the government help pay for two-thirds of hours they have lost. The [...]