Ryanair boss Michael O’Leary slams ‘bizarre’ quarantine rules September 9, 2020 Ryanair boss Michael O’Leary has slammed the government for its handling of the coronavirus pandemic, describing its quarantine restrictions as “bizarre” and lacking in “common sense”. Speaking to Sky News this morning, O’Leary said that ministers were “making this stuff as they go along to cover up the fact that test and tracing is effectively [...]
Thousands sign petition for ‘seat out to help out’ theatre discount scheme September 9, 2020 Thousands of people have signed a petition calling on the government to introduce a “seat out to help out” scheme to support the theatre industry. The petition proposes that for every seat sold for a live performance, the government could pay £10 for an empty seat. More than 44,000 people have lent support to the [...]
Watchdog blocks Lloyds’ unfair treatment of Covid-hit firms September 8, 2020 The competition watchdog has stopped Lloyds Bank from forcing small business customers to open business current accounts when taking out bounce back loans. The Competition and Markets Authority (CMA) has accused Lloyds of “bundling” loans and business current accounts for small companies. Bundling is where a bank requires small business customers to open a current [...]
Easyjet to reduce flying capacity amid quarantine chaos September 8, 2020 Budget carrier Easyjet today said that it would reduce flying capacity for the fourth quarter due to changes to the UK’s quarantine regime. In a statement, the airline said that the “constantly evolving” restrictions, including yesterday’s decision to add seven Greek islands to the “red list”, was “negatively affecting” customer confidence. As a result, Easyjet [...]
Rishi Sunak can afford to be bold on pension reform in his autumn statement September 8, 2020 Rishi Sunak’s summer economic statement was essentially an exercise in positivity. The update, given by the chancellor two months ago, was mainly focused on helping Britain emerge from the coronavirus pandemic in decent shape. However, as with the various virus-related schemes announced in his spring Budget, his new initiatives to kickstart the economy come at [...]
Aviation support package ‘cannot come soon enough’, MPs warn September 7, 2020 A group of MPs has warned that the government’s aviation recovery plan “cannot come quick enough” as the stricken industry heads into the winter season weighed down with uncertainty over its future. This morning, the government revealed that it would unveil its plan to get the UK aviation industry back onto its feet over the [...]
Manufacturers warn of ‘second wave’ of job cuts without furlough extension September 7, 2020 A leading manufacturers’ organisation has issued a rallying cry urging the government to extend the furlough scheme beyond October, warning a failure to do so risks leaving the UK “in the slow lane behind major competitors”. Make UK issued its appeal after more than 62 per cent of companies backed an extension to the scheme, [...]
The City View: Rational markets and innovative central banks? An investor’s guide to the crisis, with Phil Smeaton September 7, 2020 In this episode Christian talks to Phil Smeaton, chief investment officer for Sanlam Private Wealth, about how markets have behaved in recent months and the forces that could shape them over the rest of this year. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Phil discusses the fall in the value of the US dollar; the US [...]
Rishi Sunak plans to raise taxes now and cut them before next election September 6, 2020 Rishi Sunak is reportedly planning to raise taxes in the autumn budget with a view to cutting them just in time for the next General Election. Sunak met with Boris Johnson last week to plan the government’s fiscal response to the debt wracked up during the coronavirus crisis, with tax rises set to hit the [...]
Rishi Sunak must walk a tightrope on his pitch of Tory economic competence September 4, 2020 Yesterday Rishi Sunak was photographed carrying a note with the text of his address to the 1922 Committee. This was something we lived in constant fear of when I worked in No.11. One day I forgot to put a folder round a note I was carrying on our 2018 Budget ‘rabbit’ and subsequently spent the next six [...]