Swelling costs threaten to throw UK businesses into a ‘winter freeze’ November 30, 2021 A “winter freeze” is looming over UK businesses triggered by the ongoing supply chain crisis swelling costs at a record pace, according to fresh figures published today. Shortages of key materials used by firms engineered by global logistics systems gumming up has raised prices across the board, crimping businesses’ margins. Research by the Confederation of [...]
Leading UK businesses hand over half of their income to government through taxes November 30, 2021 The UK’s leading businesses are handing over half of the money they generate to the government in taxes, according to a fresh study published today. FTSE 100 companies gave up 53.2 per cent of their income to the public coffers last year, illuminating the heavy tax burden British businesses are being shackled with. Over one [...]
UK’s biggest businesses should be reinvesting, not plugging Treasury’s holes November 30, 2021 So now we know: those with the broadest shoulders really are taking on their fair share of the burden. This is hardly a surprise, of course, except perhaps to those who still pine for the Corbynista dream of taxing British business out of existence, but the PwC research in today’s City A.M. does at least [...]
Code red Omicron scenario would setback UK economic recovery, warn experts November 29, 2021 The UK economy would suffer a severe setback in its battle to revert to pre-pandemic strength if the Omicron variant proves to be deadly, City economists have warned. If the heavily mutated strain of the virus is capable of evading vaccines and the UK government reimposes blanket lockdown measures, the economy would shrink back to [...]
Omicron optimism: Covid anxiety attack on the financial markets shows signs of alleviating November 29, 2021 The anxiety attack on the financial markets shows signs of alleviating, as investors pause for breath and spot signs of optimism while scientists race to establish the severity of the new variant. The FTSE 100 opened up 1 per cent in early trading, recovering some of Friday’s dramatic losses and the FTSE 250 was 1.5 [...]
Mel Stride MP urges chancellor to slash taxes to ease cost of living crisis November 29, 2021 The chairman of an influential group of MPs that scrutinises the spending plans of the government has told Tory chancellor Rishi Sunak to slash taxes to ease the cost of living crisis looming over Brits. Speaking to the PA news agency, Conservative MP Mel Stride, who chairs the Treasury Committee, called on the chancellor to [...]
Supply chain crisis leaves Brits worse off than Americans and Europeans with many prepared to ‘punish’ retailers November 27, 2021 As the Office for Budget Responsibility recently reported that the UK’s supply chain bottlenecks have been exacerbated by Brexit, new data shows this morning that Brits report far worse delivery experiences than consumers in France, Germany, and the US. While the crisis is being presented as ‘global’, UK online consumers report disproportionate affects, with nearly two fifths [...]
Best of this week in our opinion pages: from a business-friendly Labour Party to the migration crisis in the Channel November 27, 2021 On Monday, party leader Keir Starmer outlined his vision for a Labour Party with business interests at its heart. As the resilience of British businesses get tested by inflation, supply chain problems and labour shortages, Starmer suggested a revival of relations between his party and private companies. This new alliance would focus on upskilling with [...]
UK VC fund performance spiked this year – and so did competition for deals November 26, 2021 UK venture capital performance increased sharply in the last year, as the value of funds’ investment picks appreciated almost in line with those of the US, according to research by British Business Bank (BBB) published today. VC funds have seen their total value to paid-in (TVPI) multiple – the metric used to track the value [...]
London hotels hope for a cracker Christmas as Covid recovery lags behind rest of country November 25, 2021 London hotels are still lagging behind in their Covid recovery compared to rivals elsewhere – but have reported strong festive bookings. The capital’s occupancy rates were 26 per cent behind pre-pandemic levels last month, as the sector continues to suffer from the slow return of international tourists and business travellers. Hotels are also facing a [...]