London needs some of Johnson’s ‘levelling up’ as inequality swells, says new report October 8, 2021 London is in need of some attention from Boris Johnson’s levelling up agenda, as the capital had the highest poverty rates even before Covid-19 – a pandemic which has widened existing inequalities across the board in the UK. Three in five, or 58 per cent, of people in poverty in inner London are in a [...]
Worker shortages threaten to derail London recovery October 8, 2021 LONDON is among the worst areas in the country being plagued by worker shortages. The volume of part-time workers available for work across the capital plunged at its quickest pace since records began, according to research by the Recruitment and Employment Confederation and KPMG. A paucity of overseas talent and workers who were previously in [...]
Rain and fuel chaos kept shoppers away from the high street October 8, 2021 Shoppers were deterred from the high street last month because of rain and chaos surrounding fuel buying. Total UK footfall dropped by 16.8 per cent in September, compared to pre-pandemic levels, BRC-Sensormatic IQ data found. Out of all regions, London saw the biggest drop of 26.3 per cent, compared to 2019. The city has suffered [...]
Letters: UK Hospitality says VATsEnough October 8, 2021 [Re: Boris Johnson expected to reveal ‘national living wage’ hike, Wednesday]Hospitality businesses are being battered by a perfect storm of labour shortages, disruption to supply and escalating food and utility costs. Margins are being squeezed as they try to rebuild. Contrary to some perceptions, wages in hospitality have increased steadily, by approximately 20 per cent [...]
Smart solutions to food supply chain disruptions October 7, 2021 The food, gas, and fuel supply challenges that the UK has recently faced are a perfect illustration of the risks associated with imperfect supply chain management. These challenges will continue – and potentially increase – given increased customs checks, the ongoing pan-European labour shortage in key logistics industries, and the trend towards national resilience in [...]
General Motors aims to double revenue by 2030 as car giant bets on electric vehicles October 7, 2021 Automotive giant General Motors (GM) expects to double its revenue to $280bn by 2030, expanding its margins from 12 to 14 per cent. Electric vehicles, connected services and new business opportunities will be the main drivers, said yesterday GM chief executive Mary Barra. “We have multiple drivers of long-term growth and I’ve never been more [...]
Britain’s economic adjustment only ends in one way October 7, 2021 The ails of the nation’s favourite sausage roll maker are a microcosm of the problems afflicting the UK economy. In a trading update yesterday, high street baker Greggs warned it is suffering from a “supply of ingredients.” A couple months back, it pulled its iconic chicken bite for similar reasons. Severe shortages plaguing the British [...]
Ireland drops opposition to global corporation tax deal October 6, 2021 Ireland has dropped its opposition to raise global corporation tax rates to 15 per cent, bringing a deal to level the business tax regime a step closer. Discussions between Ireland’s finance minister, Paschal Donohoe, and other kingpins driving the agreement among countries that represent around 90 per cent of the global economy has yielded positive [...]
Tory conference: Boris Johnson’s speech in full October 6, 2021 Prime Minister Boris Johnson delivered his second leader’s speech at Conservative conference today. Here is his speech in full. Isn’t it amazing to be here in person the first time we have met since you defied the sceptics by winning councils and communities that Conservatives have never won in before – such as Hartlepool in [...]
Boris Johnson vows to transform economy in policy-light party conference speech October 6, 2021 Boris Johnson has vowed to transform the UK into a “high wage, high skill” economy in a Tory party conference speech that was heavy on rhetoric and short on policy. In a classic Johnson speech, the Prime Minister made a bevy of jokes about Labour, numerous literary references and promises to “build back better” and [...]