Don’t believe the Scottish independence hype — I’d bet on Johnson’s tortoise to beat Sturgeon’s hare July 24, 2020 For his first significant political event outside the Westminster bubble, timed for his one-year anniversary of becoming Prime Minister, Boris Johnson chose to go to Scotland. The significance of that choice cannot be overestimated. Politics is as unpredictable as ever, and despite chancellor Rishi Sunak hosing Scotland with the billions confected by the Bank of [...]
We can’t tax our way out of the Covid-19 crisis — instead, the chancellor must drive growth July 24, 2020 There has never been a time to my knowledge when, in the run up to a Budget or other fiscal event, the Treasury has not highlighted the pressures on public finances which made the option for significant (or, indeed, any) net tax cuts unwise. Typically, projected shortfalls in the state’s annual budgets have been in [...]
Watchdog slams government for lack of pandemic economic plan July 23, 2020 Parliament’s financial watchdog has slammed the government for its failure to plan for the economic consequences of a pandemic, saying it was “astonished” that the UK was not better prepared. The House of Commons Public Accounts Committee (PAC) said the Treasury waited until mid-March to design schemes to support the economy. That was despite it [...]
Government has been ‘too slow’ to help the arts during pandemic, say MPs July 23, 2020 The government has been “too slow” to respond to the “existential threat” faced by theatre, live music and other cultural outlets during the coronavirus pandemic, a committee of MPs has said. A wide-ranging report released today by the Department for Digital, Culture, Media and Sport (DCMS) Committee found that MPs have “consistently failed to recognise [...]
Rishi Sunak ‘turns his back on’ 1m in need of coronavirus support July 23, 2020 MPs today blasted chancellor Rishi Sunak’s coronavirus support measures, saying he has turned his back on 1m Brits during the coronavirus pandemic. The Treasury Select Committee (TSC) today said Sunak’s response has failed to convince members he had done enough to support Brits impacted by coronavirus. “The chancellor has effectively drawn a line under helping [...]
How badly will the UK unemployment rate spike when furlough ends? July 22, 2020 Chancellor Rishi Sunak’s furlough scheme has so far saved the UK unemployment rate from sharp increases during the coronavirus lockdown, but it is drawing to an end. Consequently job losses are set to spike after furlough concludes in October, according to economists. Currently the government is paying 80 per cent of over 9m British workers’ [...]
Qatar Airways sues Arab states for $5bn over airspace blockade July 22, 2020 Qatar Airways is seeking $5bn in compensation from four Arab states which have prevented it from using their airspace since 2017. Saudi Arabia, the UAE, Bahrain and Egypt have since June that year implemented an air, sea and land blockade on the Gulf nation over accusations that it supports terrorist activity. Qatar denies the claims, [...]
Global airlines join forces to call for restart to transatlantic flights July 22, 2020 A number of the world’s largest airlines have come together to call for a joint coronavirus testing programme between the EU and US to get transatlantic air travel going again. In a letter to US vice president Mike Pence and EU commissioner for home affairs Ylva Johansson, airline executives asked for “the safe and swift [...]
Boris Johnson unveils £350m to fuel decarbonisation of industry July 21, 2020 Boris Johnson has unveiled £350m in funding to help industry to reduce carbon emissions in a bid to speed up progress towards the UK’s 2050 net zero goal. The funding will go to a range of businesses and projects working across industries such as heavy industry, construction, space and transport. Johnson said that the coronavirus [...]
Rishi Sunak launches spending review and warns of ‘tough choices’ July 21, 2020 Chancellor Rishi Sunak has warned that “tough choices” will have to be made over government spending from 2021 onwards as he launched a comprehensive review of public sector budgets. The spending review comes as Sunak revises the overall spending plans made in the March Budget to reflect the huge impact coronavirus has had on the [...]