Barnier: Brexit deal ahead if Britain stops backtracking June 24, 2020 Britain can still achieve a post-Brexit trade deal with the European Union as long as the UK stops “backtracking” on its commitments, the EU’s chief negotiator said today. In a virtual think-tank event this afternoon, Michel Barnier called on Prime Minister Boris Johnson to give “clear signals” that the UK is ready to work towards [...]
Innovating for the greater good June 24, 2020 The collective fight against financial crime requires greater achievement by regulated businesses. Financial crime, in its various forms, has serious social and economic consequences. Whether it is misappropriated public funds, laundering of criminal proceeds, financing of terrorist activity, tax evasion, or fraud, the victims are you and I. Although the harm manifests differently – a [...]
Business didn’t get us into this mess, but with the right reforms it can get us out of it June 24, 2020 Back in March, City A.M. announced that it was suspending its print edition — partly due to concern about the drop-off in advertising revenue, but mostly because it seemed futile to distribute newspapers around London when workers had been told to stay at home. Recently, this paper’s editor made the welcome announcement that its print [...]
The risks are elevated, but investors have faith UK financial services can weather the storm June 23, 2020 The mood music in Brussels has changed over the last few weeks — and the financial services sector is back in the spotlight. In recent negotiations, the EU explicitly challenged the notion that Britain will be able to “cherry-pick” the benefits of the Single Market and retain its strategic position in financial services post-Brexit. With [...]
Sajid Javid: Slash taxes and ramp up spending to fuel UK recovery June 23, 2020 Britain should reduce the National Insurance tax and pour money into infrastructure and the poorest regions of the country to boost the UK’s economic recovery from the coronavirus crisis, according to former chancellor Sajid Javid. Javid, who left the Treasury as part of Boris Johnson’s February cabinet reshuffle, warned against a return to the austerity [...]
Saga refunds £44m to tourists due to coronavirus disruption June 22, 2020 Saga, the cruise operator and insurance firm for over-50s, today announced it had refunded £44m of advance payments to customers whose travel plans were disrupted by the coronavirus pandemic. The firm, which has cancelled all of its voyages until the end of August, said that it was expecting some travel to begin by the end [...]
Former chancellor Lord Alistair Darling backs Sunak’s VAT cut plans June 22, 2020 Former chancellor Lord Alistair Darling has backed government plans to cut VAT in a bid to boost the economy, adding that the coronavirus crisis will result in an “even more profound shock” to the UK than the 2008 financial crisis. In a foreword to a new Policy Exchange report, Darling expressed his support for current [...]
Sunak mulls VAT cut to boost economy after lockdown June 21, 2020 Rishi Sunak is reportedly considering cutting VAT rates to provide a much-needed boost to the economy after months of lockdown. The chancellor has ordered Treasury officials to draw up plans to reduce the sales tax, including a cut in the headline rate, the Sunday Times reported. Other proposals being considered include cutting employers’ national insurance, [...]
Bank of England apologises for historic slave links June 19, 2020 The Bank of England has apologised for the involvement of past governors and directors in the slave trade and vowed to remove all statues and paintings of them from its City headquarters. New analysis of a University College London (UCL) database found that 25 previous governors and directors of the Bank of England benefited from [...]
With some flexible thinking, the government can help SMEs reopen for business June 18, 2020 As shop doors opened once again this week and queues began to build, we caught a glimpse of what the coming months will be like for “non-essential” shops. Already, it is clear that while Brexit might mean Brexit, reopening certainly does not mean reopening for many businesses across the UK. As the next phase begins, [...]