Tax cuts won’t cut it; the new Tory leader must bring about innovation July 13, 2022 As I write, every candidate vying to be the next Conservative Party leader – with the exception of Rishi Sunak – has promised major tax cuts. In many ways this is welcome, as taxes can deter investment and increase the cost of living. During a time where families are struggling to make ends meet and [...]
Create investment boosting tax system to end economic malaise, CBI chief urges Tory leadership hopefuls July 13, 2022 Creating a tax system that boosts business investment to lift the UK out of its growth malaise is the only way to solve the country’s economic stagnation. That’s according to the chief of the Confederation of British Industry (CBI), the country’s largest business group. In an open letter to Conservative leadership candidates published today, Tony [...]
TSSA urges Network Rail to ‘wake up’ after latest pay package proposal falls short of expectations July 12, 2022 TSSA has urged Network Rail to "wake up" following the latest pay offer, which it has slammed as "well below" expectations.
Airlines lift off helps FTSE 100 reverse early losses July 12, 2022 London markets whipsawed today as a rally among airline stocks outweighed recession fears. The capital’s premier FTSE 100 index jumped 0.18 per cent to drop to 7,209.86 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, added 0.1 per cent to close at 18,854.96 points. [...]
Euro kisses parity with US dollar for first time in two decades July 12, 2022 The euro kissed parity with the US dollar for the first time in 20 years today. Fears of the Continent tipping into recession have strengthened recently due to bets that Russian president Vladimir Putin will choke energy supplies to the bloc. The currency used by 19 countries – soon to be 20 when Croatia adopts [...]
BoE lays down crypto regulation plans following crash July 12, 2022 The Bank of England laid down its plans for crypto regulation in the UK following the drastic instability from the “crypto winter.” Deputy Governor Jon Cunliffe said the Bank would apply identical regulation to different financial services in the UK, regardless of how they are provided, if the risks presented by them are the same. [...]
BBC’s frozen licence fee pushes annual savings of £285m as broadcaster fights vicious talent wars July 12, 2022 The BBC have aired concerns that the current funding settlement, where the licence fee is frozen for two years despite crippling inflation, could spell danger for the broadcaster’s long-term future. Discussing the Beeb’s annual results this morning, BBC Chairman Richard Sharp said the “working assumption is that this [a frozen fee] will open up a [...]
Exclusive: Nearly a quarter don’t think their employer can survive a recession July 12, 2022 Nearly a quarter of people polled recently don’t think their employer will survive an anticipated recession. The figures, exclusively shared by MHR with City A.M., highlighted that 78 per cent of 1,840 people surveyed think there will be a recession, and 23 per cent don’t think their employer will survive. With inflation above nine per [...]
Money matters – Financial literacy: A vaccine for life July 12, 2022 Could a double dose of financial literacy combined with experience help households make more rational financial decisions? What can be done to enable households to make more rational financial decisions? In the wise words of Warren Buffet, one of the greatest investors of all time, invest in yourself by accessing the latest financial education for [...]
Markets have bigger things to worry about than a change in Number 10 July 12, 2022 Markets tend to be one step ahead of everyone else. Investors are always trying to identify new risks and limit their exposure to events that hurt stock markets. That forward-looking ethos probably explains why they ignored the upheaval in Number 10 last week. Boris Johnson’s position has looked wobbly for a while. Investors priced in [...]