Revealed: Hampshire Trust Bank more than doubles new lending in 2016, after it launches commercial mortgages business March 19, 2017 Hampshire Trust Bank more than doubled the value of the new loans it wrote in 2016, City A.M. can reveal. The challenger bank racked up loan originations of £393m in its 2016 financial year, up 132 per cent compared with £169m at the end of 2015. The boost is partly thanks to the lender launching a commercial mortgages [...]
South East business leaders urge government to commit to Crossrail 2 as a project of “national importance” March 17, 2017 Business leaders, including the bosses of Heathrow and Gatwick airports, have urged the government to make Crossrail 2 a priority and enable "rapid progress" on the project. A group of more than 70 leaders from across the South East have written to chancellor Philip Hammond and transport secretary Chris Grayling, saying the infrastructure project is of "national importance". [...]
Government should do more to boost flagging company investment business group says March 17, 2017 An influential business group has called for government to do more to tackle falling capital spending as fears are rising about a slowdown in long-term business investment. The Institute of Chartered Accountants (ICAEW) forecasts businesses will invest 1.9 per cent less in 2017 as companies start a “period of restraint” during the Brexit process. Stephen [...]
JLL boss calls out government on business rates “disaster” March 15, 2017 The UK boss of JLL has hit out at the government's revaluation of business rates, calling the arrangements around the tax changes due to start in April a "disaster". Speaking at global property conference Mipim, Chris Ireland said that despite flaws in the system, he did not expect the government to make any significant changes [...]
Hammond slammed for “rookie error” over national insurance contributions March 11, 2017 Chancellor Philip Hammond has been criticised for making a "rookie error" with his plans in increase national insurance contributions for the self employed. Former Conservative chancellor Norman Lamont has raised concerns that Hammond's first spring budget has ruined the party's image for pursuing low-tax policies. The changes will mean up to 1.6m people will face [...]
JD Wetherspoon’s share price dips as chair Tim Martin cautions of lower sales and added costs in the second half March 10, 2017 JD Wetherspoon's shares fell more than three per cent after the pub group reported half-year results slightly ahead of expectations but warned of a difficult second half to come. The figures The pub owner and operator said profit before tax and exceptional items jumped 42.8 per cent to £51.4m from £36m for the 26 weeks to 22 January. Like-for-like sales [...]
Spring Budget 2017: Junior barristers could be badly hit by hike in national insurance March 9, 2017 Those trying to make a name for themselves in the courts have been dealt a blow by the impending hike in national insurance. Chancellor Philip Hammond revealed in his maiden Budget yesterday that the class 4 National Insurance rate would be increased by one percentage point to 10 per cent from April 2018, and then [...]
London Assembly members have sided with Uber over English language tests and want the mayor Sadiq Khan to drop written plans March 9, 2017 London Assembly members have sided with Uber in the battle over English language tests, despite Transport for London triumphing in court last week. The majority of members have backed a motion calling on the mayor Sadiq Khan to ditch the requirements for written tests for Uber and other minicab drivers due to the disproportionate and unfair [...]
Chancellor Philip Hammond’s tax hikes in yesterday’s Spring Budget spell political trouble March 9, 2017 Philip Hammond was beaten up pretty badly at last night’s meeting of Tory MPs. Colleagues rounded on him for hiking a tax on the self-employed (for which one can read, entrepreneurs) and for another raid on dividend payment tax relief. How exactly are Tory MPs meant to sell this to their voters? And how does [...]
Chancellor Philip Hammond picks a self-employed pocket or two in his first (and last) Spring Budget March 9, 2017 Chancellor Philip Hammond stands accused of breaking a key Conservative manifesto pledge after announcing a double-raid on Britain’s self-employed workers during yesterday’s Budget. Delivering the first of two Budgets this year, Hammond said he would raise the main rate of Class 4 National Insurance contributions (NICs) for the self-employed by one percentage point to 10 [...]