Government extends TfL funding for two weeks amid emergency bailout talks October 16, 2020 The government has extended its funding package for Transport for London (TfL) for two weeks, as the transport body scrambles to shore up emergency cash ahead of further lockdown restrictions in the capital. A spokesperson for TfL said: “We have today agreed with the government that our funding will be extended for two weeks so [...]
London lockdown: 200,000 hospitality workers to lose jobs this weekend, industry body warns October 16, 2020 About 200,000 hospitality workers in central London will lose their jobs this weekend as tier 2 coronavirus lockdown restrictions are imposed, the industry body’s chief executive has warned. UK Hospitality chief executive Kate Nicholls said the tier 2 lockdown, which prohibits people from separate households from mixing, is a “maximum squeeze on revenue with no [...]
What the new London lockdown measures mean for YOU October 16, 2020 Millions of Londoners will face tougher restrictions from Saturday, as the capital is set to shift from Tier 1 to Tier 2 from midnight tonight. Ministers were briefed on the new measures this morning, following a sharp spike in coronavirus cases across the capital. Health secretary Matt Hancock later confirmed that Essex will join London on “high” [...]
Friday Debate: Is the move to put London under Tier 2 restrictions unjustified? October 16, 2020 Is the move to put London under Tier 2 restrictions unjustified? Join the debate Luke Johnson, entrepreneur and chairman of Risk Capital Partners, says YES. So the lockdown zealots have won, and London is to face yet more onerous restrictions on our civil liberties — even though hospital admissions for Covid-19 are roughly 90 per [...]
London, Essex and parts of Surrey to enter Tier 2 lockdown restrictions October 15, 2020 London, Essex and Elmbridge are set to move to Tier 2 from midnight tomorrow, meaning the capital will be shift from “medium” to “high” alert. Care minister Helen Whately told London MPs this morning that London will move from Tier 1 to Tier 2 on Friday night into Saturday. The new restrictions mean a ban [...]
London lockdown: Tier 2 restrictions the ‘death knell’ for hospitality sector October 15, 2020 The government’s announcement that London will be placed under a Tier 2 lockdown this week is the “death knell” for the capital’s struggling hospitality sector, industry bodies have warned. Care minister Helen Whately told London MPs this morning that the city will move from Tier 1 to Tier 2 on Friday night. The new restrictions [...]
The maths of why growth companies are beating value October 14, 2020 One of the side effects of low interest rates is that, because of the way that companies are valued, investors place a higher value on companies (and investment projects) which have a low probability, high payoff, a long time in the future. This helps explain why investors have been prepared to pay up for loss-making [...]
HS2 costs rise £800m just weeks after construction starts October 14, 2020 The cost of controversial rail link HS2 has risen another £800m, the government has admitted, just six months after the project was newly approved. Ministers said that the extra costs were related to removing more asbestos than had been expected, as well as on developing the terminus at Euston station. The increases were revealed in [...]
Tube journeys hit highest number since lockdown October 14, 2020 There were more journeys made on the Tube last week than at any point since the beginning of lockdown in March, despite the imminent prospect of new restrictions being imposed on the capital. According to data from Transport for London, there were 1.56m such journeys made last Friday, beating the previous high of 1.52m. That [...]
Mayor 2.0: London deserves a leader who can punch at the capital’s weight October 14, 2020 It’s more than 20 years now since we saw the creation of an elected mayor of London with executive power over the whole city. Devised at a time of widespread devolution, public response to the role was lukewarm, with only around a third of voters bothering to express a preference either way. It was somehow [...]