Rishi Sunak admits current UK borrowing is “not sustainable” November 26, 2020 Rishi Sunak has conceded that the current projections for UK borrowing are “obviously not sustainable”, after the chancellor yesterday unveiled huge economic interventions as part of his winter Spending Review. Sunak yesterday lifted total government spending on the Covid response to £280bn, as he vouched his commitment to “jobs, businesses and public services”. The chancellor [...]
IFS says Sunak likely to end up spending more than planned November 25, 2020 Chancellor Rishi Sunak is likely to end up spending more than he said he plans to in his spending review today amid “lasting damage” to the economy, the leading Institute for Fiscal Studies (IFS) think tank and other experts have said. Sunak today said he would ramp up public spending to tackle coronavirus next year [...]
EU prepared for no-deal Brexit, says Ursula von der Leyen November 25, 2020 The European Commission cannot guarantee there will be a trade agreement with Britain, EU chief executive Ursula von Der Leyen has said, adding that the bloc is now prepared for a no-deal Brexit. “The next days are going to be decisive. The European Union is well prepared for a no-deal scenario,” von der Leyen told [...]
New Covid rules are a ‘disaster’ for hospitality, based on non-existent data, says D&D London boss November 24, 2020 The head of restaurant group D&D London has slammed the new government Covid restrictions, calling them a “disaster” and a “kick in the teeth” for the hospitality sector. Des Gunewardena writes in an exclusive column for City A.M. that the government is failing to back up its new regulations, which place tough restrictions on bars [...]
The government is ignoring Covid science and hospitality is paying the price, says D&D boss November 24, 2020 Des Gunewardena is Chairman and CEO of D&D London, the restaurant group behind brands including Bluebird, Angler, 14 Hills and Coq d’Argent. Here he lays out where the government has failed the hospitality sector and gives a plan for how it could still salvage something from the most important month of the year. So we’ve finally [...]
Retirees to be hit by inflation change in Rishi Sunak spending review November 24, 2020 Rishi Sunak is set to cost investors £100bn by announcing a change to how pensions are calculated in tomorrow’s comprehensive spending review. The Telegraph reports that Sunak is considering linking pension rises to CPI instead of the retail price index, which would mean smaller yearly increases. The change would mean that 10m retirees will receive [...]
Compass Group returns to profit in Q4 following ‘challenging year’ November 24, 2020 Compass Group has made an operating profit of £561m in 2020 after a difficult year that saw parts of the business closed due to the coronavirus pandemic. The catering giant 2020 operating profit was down on last year’s £1,852m. Nearly two-thirds of Compass Group’s revenue came from north America. The group was able to return [...]
Bubbles and baubles: UK Covid restrictions set to be lifted for Chistmas November 22, 2020 The government is set to lift Covid restrictions on Christmas eve to allow for up to four households to form holiday bubbles. People in the four-household bubble will be able to interact indoors anywhere, including in pubs and restaurants. Downing Street has reportedly been in touch with the devolved governments of Wales, Northern Ireland and [...]
Twitter to hand over @Potus account to Joe Biden on 20 January November 21, 2020 Twitter will hand over the official account of the US president to the Joe Biden administration on 20 January, the company said today. The @Potus account is the president’s official account, and is separate from the personal account used to tweet by Donald Trump to tweet. “Twitter is actively preparing to support the transition of [...]
Bullying inquiry head quits as Johnson sides with Patel November 20, 2020 Senior civil servant and independent adviser to Boris Johnson Sir Alex Allan has resigned following publication of his report that found Priti Patel broke behaviour rules around bullying. Allan headed up an inquiry into bullying allegations made against home secretary Priti Patel. His report found Patel broke behaviour rules, however Boris Johnson has since said [...]