EV switch under threat from uneven roll out and rising energy prices September 27, 2022 Over the last few years, an increasing number of Brits have joined the green car revolution and switched to electric vehicles (EVs). There are currently over 900,000 electric cars in the UK – up from less than 4,000 a decade ago, according to data from the RAC. While this only represents 4.5 per cent of [...]
Kwarteng to announce supply side reforms in ‘medium-term fiscal plan’ next month September 26, 2022 Kwasi Kwarteng will announce a package of supply side reforms next month in a “medium-term fiscal plan”, the Treasury has announced. The Treasury said it would include “changes to the planning system, business regulations, childcare, immigration, agricultural productivity, and digital infrastructure”, as well as post-Brexit changes financial services regulation. It will also include details on [...]
Young buyers drive private jet boom as owners under 45 surge September 26, 2022 Young buyers are among the main drivers behind the private aviation boom as jet owners under 45 have increased by 20 per cent in the last five years. Data from private jet brokers Jetcraft showed that in Europe 24 per cent of pre-owned jet buyers are younger than 45, with numbers increasing to 38 per [...]
Despite economic gloom more than 800,000 new firms were created this year September 26, 2022 More than 800,000 new firms were created this year despite economic turmoil and grim prospects for the immediate future. Online shopping was a key driver for the 98,000 new retailers which popped up in wake of the pandemic, as Covid unleashed a wave of entrepreneurialism. Figures from private equity firm Growthdeck show 808,000 new businesses [...]
A New Leadership Approach for the Challenges of Today September 26, 2022 The Changing Leadership Landscape Against the backdrop of a seismic humanitarian crisis in Ukraine, energy volatility, labour shortages, a higher interest rate environment and continued supply chain disruptions, it’s undeniable that today’s business leaders are under more pressure than ever to deliver in areas that were once far beyond the CEO job description. Where once [...]
Liz Truss wants winning to be as easy as quick cash in voters’ back pockets September 26, 2022 We often complain that politicians are unwilling to give straight and unambiguous answers. Last week we saw something different: the government was very clear that Friday’s statement to the House of Commons by the new chancellor, Kwasi Kwarteng, was not—repeat, not—a budget. The name of the so-called fiscal statement, “the Growth Plan”, had a faint [...]
Labour will spend £8bn on UK sovereign wealth fund if it forms government September 25, 2022 Labour will tomorrow pledge to spend £8bn to start a UK sovereign wealth fund if it wins the next election in a bid to boost domestic manufacturing. The National Wealth Fund will invest in British green energy production, with the British state taking ownership of assets held under the fund, shadow chancellor Rachel Reeves will [...]
‘There is more to come’: Kwarteng hints at more tax cuts September 25, 2022 Kwasi Kwarteng has strongly hinted he will bring in more tax cuts, after today vowing “there is more to come”. The chancellor said Prime Minister Liz Truss had only been in Number 10 for “19 days” and that the pair wanted to continue on a radical economic path. Kwarteng announced the UK’s largest package of [...]
City backs mini-budget measures: ‘Scrapping bonus cap shows we are open for business’ September 23, 2022 The City of London has welcomed measures in today’s mini-budget, backing the scrapping of bankers’ bonuses and freezing of cooperation tax hikes. Policy Chairman at the City of London Corporation Chris Hayward responded to Kwasi Kwarteng’s fiscal statement today, which included a raft of changes from planning and benefits to stamp duty and national insurance. [...]
Kwarteng ditches corporation tax hike in bid to lure investment September 23, 2022 Kwasi Kwarteng has scrapped the formerly announced six percentage point hike in corporation tax - keeping the rate at 19 per cent.