Stamp duty abolished for first-time buyers on purchases of up to £300,000 November 22, 2017 The government has used the Autumn Budget to abolish stamp duty for first-time buyers on purchases of up to £300,000. First-time buyers will also receive a stamp duty holiday for the first £300,000 on purchases up to £500,000. Read more: Come again? Two-thirds of Nimbys are worried about rising house prices Launching the policy, the [...]
Autumn Budget 2017: Boost to North Sea oil as government plans to introduce key tax change next year November 22, 2017 North Sea oil and gas producers received a boost from the government today as chancellor Philip Hammond announced tax changes aimed at increasing investment. In the Autumn Budget, Hammond revealed the government would introduce transferrable tax history for oil and gas fields in the North Sea from November 2018. Currently, the history of tax paid [...]
Autumn Budget 2017: Chancellor Philip Hammond’s speech in full November 22, 2017 You can read the chancellor's Budget speech in full here: Mr Deputy Speaker I report today on an economy that continues to grow, continues to create more jobs than ever before and continues to confound those who seek to talk it down. An economy set on a path to a new relationship with our European [...]
Thoughts ahead of the Budget November 20, 2017 This coming week is the second Budget of the year, the first of the new Parliament and the penultimate one before the UK leaves the EU in March 2019. The UK may prolong its tenure in the EU through a yet-to-be-agreed transition deal, but even so we are just over half-way through the Article 50 [...]
Don’t underestimate the risks of interest rate hikes to the global economy June 27, 2017 In recent months sentiment towards financial markets has been broadly positive in Western economies. But, as the recent UK political situation has demonstrated, sentiment can quickly change. Such swings also happen in financial markets. Here I highlight some of the key current macro-economic issues to watch for. Global recovery gaining traction The world economy is [...]
What a minority government means for the UK economy June 19, 2017 After the shock of the general election, resulting in a hung Parliament and minority Conservative Government, what are the implications for the economy and investors? In terms of the political outlook, three scenarios strike me as likely. First, and most likely, the Conservatives remain in power, with the support of the Democratic Unionist Party (DUP) [...]
UK and London house prices: The disastrous new tax on buy to let landlords is really a tax on tenants April 6, 2017 Theresa May stood on the steps of Number 10 Downing Street last summer and pledged to help those “just about managing” families and build “a country that works for everyone”. After a divisive referendum campaign and a period of political turmoil, it was a reassuring message. Tackling Britain’s housing crisis was quickly identified as one [...]
Openreach is hiring 1,500 trainee engineers and trialling a new virtual reality experience March 20, 2017 Openreach is set to expand its workforce with 1,500 new trainee engineers hired over eight months who will work to extend the UK's fibre broadband network and improve customer service. The broadband provider will seek recruits from across Britain to fill new, full-time and permanent roles. Openreach will initially take on 119 recruits in April, followed by around 60 new [...]
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". [...]