Raising the money to fund social care reform is half the battle, we need steely determination to mend the system July 22, 2021 Proposals to hike national insurance by 1 per cent to fund adult social care reform has caused much excitement in the media. But raising the money is barely half the battle. The tax raising options are, after all, well understood, even if the political challenge of implementing one remains formidable. As great a challenge is [...]
Covid lockdowns cost UK creative industries £12bn July 21, 2021 Repeated coronavirus lockdowns have cost the UK’s creative industries an estimated £12bn and more than 110,000 jobs, new figures have revealed. Data released today by Oxford Economics showed businesses in the creative sector generated around £104bn in gross value added value in 2020, down from £116bn the previous year. This was also well below the [...]
Glastonbury scraps plan for one-day September festival July 21, 2021 Glastonbury has ditched plans to hold a one-day event in September, the festival’s organisers have announced. Earlier this year Mendip district council granted a licence application for a one-off show with a maximum capacity of 50,000 people – a quarter of the festival’s usual capacity. But in a post on Instagram organiser Emily Eavis said [...]
Editorial: Boris Johnson’s Government desperately needs a reset to avoid giving credence to Cummings’ claims July 21, 2021 Had you considered so doing before, it now seems unlikely Dominic Cummings would make the cut for a “dream dinner party” list. Your other guests wouldn’t get a word in edge-ways. In his hour-long interview aired on the BBC last night, the Prime Minister’s former adviser was half score-settling and half self-justification, delivering a vicious [...]
City Moves: Who’s switching jobs in the Square Mile this week? July 21, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Ex-UBS and Canary Wharf Group chiefs join construction-tech firm British construction technology company Modulous has bolstered its London workforce with former Canary Wharf and UBS leads this week. Former director of the Canary Wharf Group Chris [...]
Support enterprise to repair economy, urges IoD July 21, 2021 The UK government must support enterprise to stimulate economic growth after the Covid crisis recedes, according to the Institute of Directors. The IoD stressed that fresh policies are needed to increase entrepreneurial activity and help businesses realign their operations to fit within the post-Covid economy. Among the measures the IoD called for was a reduction [...]
Downing Street does not deny govt mulls increasing national insurance contributions July 20, 2021 Downing Street has not denied that National Insurance contributions could be increased to fund a new social care plan, in a move that would break a Conservative manifesto pledge. Boris Johnson is reportedly considering plans to raise National Insurance payments by one percentage point for employers and employees to raise £10bn a year to help [...]
IEA: Emissions to hit record by 2023 if green investment remains locked away July 20, 2021 The International Environment Agency’s forecasts have warned today that emissions will hit a record high in just two years unless more green investment is unlocked. After a brief fall last year at the height of the pandemic, which halted supply chains and pushed people homebound, the world is on track to surpass 2018’s emissions record. [...]
Tokyo 2020 Olympics could still be cancelled, says Games chief July 20, 2021 Tokyo 2020 Olympics chiefs say they have have not ruled out cancelling the Games at the last minute. With just three days until the opening ceremony, the head of the Tokyo Organising Committee, Toshiro Muto, said a late U-turn remained an option. Covid-19 cases have already hit the athletes’ village and continue to rise in [...]
Zurich UK switches $1bn into new ESG benchmark to cut its carbon emissions July 20, 2021 Zurich UK has switched almost $1bn (£73m) of its investment portfolio into a new ESG benchmark in a bid to reduce its carbon emissions. The insurance giant said, in an announcement today, the new benchmark will deliver a 30 per cent reduction in emissions as well as “enhanced” ESG outcomes, compared to its parent index. [...]