Union to ballot 150,000 civil servants on plans for public sector strike September 26, 2022 The public sector workers’ union is set to ballot more than 150,000 civil servants on plans to strike over pay and working conditions. The Public and Commercial Services Union (PCS) said it is urging its members in 214 government departments to vote in favour of taking industrial action, after the UK government set out plans [...]
Pound and Dollar parity strongly on the cards: After today’s all-time low, is Sterling the new Lira? September 26, 2022 Sterling is getting absolutely pounded today in this week’s trading, and traders have started things exactly where they left off on Friday. The Sterling looks like an emerging market currency, especially when you look at the price of the British Pound a few months ago and compare it to where it is now. Bears are [...]
Stamp duty cut set to boost property market as analyst ‘highly sceptical’ of demand-side push September 26, 2022 Cuts to stamp duty are set to give the UK property market a boost of more than 25 per cent as thousands of Brits look to cash in. Research from Barrows and Forrester suggests – based on previous stamp duty holidays – that up to a million homes could be sold due to the cut. [...]
LXi REIT’s £500m bid for Sainsbury’s stores collapses amid market volatility September 26, 2022 LXi REIT's proposed takeover of 18 Sainsbury's stores has collapsed after the group pulled out of a share issue.
Three teams take top prize in Minima and EdenBase innovation challenge September 25, 2022 Blockchain network Minima and growth hub EdenBase have announced the winners of a competition designed for app developers.
Kwarteng makes permanent cut to stamp duty in a bid to drive growth September 23, 2022 Kwasi Kwarteng confirmed stamp duty would be slashed from today in a bid to drive growth and boost confidence in the economy. Announcing his mini-budget, Kwarteng said: “Today’s statement is about growth. Home ownership is the most common route for people to own an asset, giving them a stake in the success of our economy [...]
Average monthly mortgage bill rises to £1,150 as new buyers set to struggle September 23, 2022 Average mortgage repayments are now above £1,150, as house sales are set to plummet with further rate-rises expected. Experts at Savills have said the Bank of England’s seventh consecutive base rate rise is hitting home-owners hard, and new buyers even harder. The hike to 2.25 per cent yesterday, the highest since 2014, means home-owners may [...]
Labour conference: Reynolds prepares to unveil his big pitch to businesses September 22, 2022 The Labour party is an unfamiliar position heading into next week’s party conference. Labour has had consistently strong poll leads this year, is presenting a unified front on policy and for once has not been the party subject to a summer of internecine factional recriminations. Sir Keir Starmer now has a chance to drive home [...]
Let’s be honest, stamp duty is a terrible tax killing economic growth and productivity September 22, 2022 Tomorrow’s mini-budget is turning into a super-budget. The changes were already looking drastic, from the energy price freeze and scrapping the bankers’ bonus to reversing the national insurance and corporate tax rises. The latest reports suggest the prime minister and her chancellor are even intending to cut stamp duty. “This is about growing the size [...]
The corporate aspects of Law Commission’s consultation paper on digital assets September 21, 2022 Elliot Cowan and Mumuksha Singh of law firm CMS examine the Law Commisssion's proposals for digital assets.