Uxbridge by-election: Tories hold Boris Johnson’s old seat as Labour blame Sadiq Khan’s ULEZ expansion July 21, 2023 The Conservatives have held onto Boris Johnson’s former seat of Uxbridge and South Ruislip as Labour blame Sadiq Khan’s ULEZ expansion policy for the loss. Tory councillor and former postman Steve Tuckwell won the west London constituency with 13,965 votes – beating Labour’s Danny Beales, on 13,470. Sir Keir Starmer’s party had hoped to overturn [...]
Explainer: What’s going on with Farage’s bank account July 20, 2023 Coutts, a prestigious private bank owned by Natwest, is under pressure after it emerged that Nigel Farage’s bank account had been closed, ostensibly for his political opinions alone. The story has caused a furore and, with politicians wading in, it could even spark a set of new rules which would prevent banks ‘debanking’ customers with [...]
Monarchy’s funding recalculated after boost to Crown Estate’s revenue from wind farm deals July 20, 2023 The Sovereign Grant – which is used to fund the monarchy’s official duties – will make up just 12 per cent of the Crown Estate’s net profits next year, down from 25 per cent, the Treasury has announced. The change has been introduced following a significant boost in the Crown Estate’s profits from offshore wind [...]
Coutts’ Farage decision is a blunder but it’s none of Sunak’s business July 20, 2023 Coutts should have the ability to decide who it grants its services to. But essential to financial services are really boring things like certainty, predictability and trust.
UK firms looking to India for growth despite trade deal delays July 20, 2023 A host of UK firms are looking to expand their operations in India despite delays to the UK-India trade deal. India is now considered a core international growth market for UK mid-market firms, according to a survey of a survey of just over 600 medium-sized UK firms by accountancy firm Grant Thornton. Just over 70 [...]
Treasury slaps down calls for crypto to be regulated like gambling July 20, 2023 The Treasury has slapped down a suggestion from MPs that crypto should be regulated like gambling today, describing it as running “completely counter” to standards set by international watchdogs.
Farage: Government right to consider Natwest licence over Coutts brouhaha July 20, 2023 Nigel Farage has praised the Government following reports ministers are considering making new laws to stop banks closing customers’ accounts because they disagree with their political views. The former Ukip leader said MPs are “beginning to realise that this system is coming for them as well” after his bank accounts were closed by Coutts because his views [...]
UK could pay up to £500m in subsidies to support new Jaguar Land Rover battery plant July 20, 2023 The UK could pay as much as £500m in subsidies to Tata Group to support its £4bn investment in a new battery plant in Somerset that would supply a new range of electric Jaguar and Land Rover models. Tata Group – the Indian conglomerate who own Jaguar Land Rover (JLR) – announced yesterday that it [...]
British Business Bank chief Louis Taylor on risk: ‘Even if the worst happens, you learn’ July 20, 2023 For a man running a bank that has found itself at the centre of a fraud storm over the past two years, Louis Taylor talks warmly about the concept of risk. The state-owned British Business Bank he now runs shot to household-name status through the pandemic and enjoyed a moment in the sun as the [...]
Sunak and Starmer have both realised just how close they are to an election July 20, 2023 Political cunning and policy gimmicks won't distract voters if their lives haven't improved, Will Cooling writes, on Sunak's war on universities and Starmer's U-turn on the two child welfare cap.