We need a British Development Bank to level-up the regions November 24, 2020 Tomorrow, chancellor Rishi Sunak will address the nation and announce the government’s National Infrastructure Strategy. While the focus has primarily been on what infrastructure investments and tax reforms might be on the horizon, there is an opportunity here to think bigger. What Britain needs is a new financing institution, like a British Development Bank, to [...]
Government to scrap 10pm hospitality curfew November 22, 2020 The government is expected to scrap the 10pm curfew for hospitality businesses when the current UK-wide lockdown ends. The Prime Minister is reportedly planning to extend pub and restaurant opening hours until 11pm when restrictions are eased on 2 December. Last orders will still be called at 10pm but customers will be given an extra [...]
Crossrail will be ‘mothballed’ without extra funding, TfL chief warns November 21, 2020 The troubled £19bn Crossrail project is at risk of being “mothballed’ unless it receives urgent additional funding, London’s transport chief has warned. Transport for London (TfL) commissioner Andy Byford this week urged the Department for Transport to provide £80m of immediate support to keep the rail link on track, Sky News reported. In a letter [...]
Rishi Sunak to unveil multi-billion pound spending boost in bid to woo regions November 21, 2020 Rishi Sunak is set to unveil plans to pour billions of pounds into infrastructure projects in a bid to woo regions and narrow the UK’s north-south divide. The chancellor will next week announce the launch of a new UK infrastructure bank, based in northern England, which will play a crucial role in fuelling the country’s [...]
GLIL Infrastructure buys 30 per cent stake in Hitachi rolling stock fleet November 20, 2020 Investment fund GLIL Infrastructure today announced that it will buy a 30 per cent equity stake in rolling stock firm Agility Trains East (ATE) from Hitachi Rail. It is believed that the fund will pay around £400m for the stake, in line with what fellow investor AIP Management paid for a similar interest in the [...]
Santander Cycles to cost commuters just £1 a week November 20, 2020 Londoners will be able to cycle to work for as little as £1 a week under a new scheme being launched by Santander Cycles. Cycling to work provider Cyclescheme has partnered with Transport for London (TfL) on a new programme called City Bike Hire. Under it, those employers who nominate Cyclescheme as their cycle to [...]
London business groups urge Sunak to give capital its fair share in spending review November 19, 2020 A pair of London business advocacy groups have called for the capital to receive significant amounts of funding in Rishi Sunak’s spending review next week amid fears the city could be overlooked. London First and the London Chamber of Commerce and Industry told City A.M. that it was vital the capital was not forgotten by [...]
Exclusive: Sadiq Khan’s PR budget soars by 33 per cent in four years November 19, 2020 Sadiq Khan has increased City Hall spending on public relations by 33 per cent over the course of his term in office, according to newly released figures. Numbers released by City Hall through a freedom of information request show the mayor spent £977,912 on press office costs for 2019/20, compared to £732,537 in 2015/16. Spending [...]
Road pricing can level up the nation and take our outdated transport system into the twenty-first century November 19, 2020 If the leaks from the Treasury this week are to be believed, Rishi Sunak has been presented a study on road pricing by his civil servants. He’d be a fool not to take it seriously. Shifting towards a comprehensive system of road pricing would help the chancellor level up the regions, drive down pollution, and [...]
Crossrail 2 ‘still needed in the future’ despite cash drought November 18, 2020 London’s Crossrail 2 is “ready to be restarted” in the future despite London mayor Sadiq Khan earlier this month agreeing to shelve the £33bn project in return for a bailout for Transport for London (TfL). Khan agreed to put the north-south rail project on ice as part of a last-ditch financial package from Westminster to [...]