Spring Statement: Hammond warns against no deal as UK slashes 2019 growth forecast March 13, 2019 The UK chancellor Philip Hammond slashed the 2019 growth forecast in his Spring Statement and said future spending and economic wellbeing are dependent on an orderly Brexit. Hammond announced that the Office for Budget Responsibility (OBR) had cut the country’s 2019 growth forecast to 1.2 per cent, down from the 1.6 per cent predicted in [...]
Theresa May is a home secretary dressed up as Prime Minister March 8, 2019 The UK is facing a violent crime crisis. Fatal stabbings are at their highest since 1946, with 27 knife deaths so far in 2019. Police numbers in England and Wales are down more than 20,000 since 2010. Other crime-reducing initiatives, from youth outreach to social services, have also seen drastic funding cuts in that time. [...]
Ex-offenders deserve to work – here’s why you should recruit them February 26, 2019 With Brexit on the horizon, businesses face looming concerns about skills and talent shortages – something we at Lendlease, like many others, are planning for. The national employment level is at an all-time peak with more than 32m in work, but our labour market is only tightening and getting more competitive. Within construction, our current [...]
Banks begin tempting businesses away from RBS as £350m switching scheme goes live February 25, 2019 Banks have begun tempting businesses to switch away from Royal Bank of Scotland as part of a scheme to boost competition in the sector. As a condition of RBS’ £45bn government bailout during the financial crisis – £350m of a state aid package has been provided to eleven other banks to help them attract firms. Read [...]
Still feeling entitled? Britain is facing a crisis of intergenerational inequality February 15, 2019 This week, I was audacious enough to suggest that free TV licences for pensioners should not be a public spending priority. The backlash was fierce. “I have paid taxes all my life,” came the outraged cries on social media. This is mostly true, as long as you take “all my life” to mean “until I [...]
One in 10 high street shops lie empty as retailers face spring reckoning February 10, 2019 The extent of the crisis facing UK retailers was laid bare this morning after new figures revealed one in 10 high street shops lie empty, while a string of upcoming cost increases could deal a death blow to struggling stores in the spring. Rising taxes and a shift to online shopping have ravaged British high [...]
Revive that entrepreneurial spirit and get Britain building again February 8, 2019 Politicians have recently become fond of talking about how to tackle our alarming housing crisis. Yet little is delivered – and what is achieved focuses on inflating demand, with schemes like Help to Buy which do nothing to address the underlying supply shortage. In the third quarter of 2018, building on 46,930 new homes began [...]
Should we be worried about the rise of the Bank of Mum and Dad mortgage? January 30, 2019 In the years leading up to the financial crisis, it was relatively easy for wannabe homeowners to get loans for the full value of a property – otherwise known as a 100 per cent loan-to-value mortgage. Of course, we know the problems caused by these mammoth loans, and since then, affordability criteria have become stricter [...]
Brexit shows it’s time for an economic shake-up from the Tories January 28, 2019 The Brexit weather forecast remains distinctly foggy in all areas as we enter yet another crucial week in Westminster. Will we ever see daylight and opportunity out of this sickening political morass? As I said to the BBC Question Time audience last week, I think this parliament ranks as the most dismal in living memory. [...]
No Boris, springing aimless policy promises on the public is not the way to make change January 21, 2019 The tax burden in the UK is at a 50-year high, accounting for over 34.5 per cent of GDP. Nevertheless, MPs from across the political spectrum like to propose new and higher taxes – the implementation of which increase the burden on families, who are already struggling from Britain’s cost of living crisis and lackluster [...]