Boris Johnson rules out £20bn bridge between Scotland and Northern Ireland November 21, 2021 Prime Minister Boris Johnson has abandoned plans for a bridge or tunnel that would have connected Northern Ireland and Scotland. Johnson, a lover of grand infrastructure projects, heavily downplayed the prospects that the concept would ever get off the ground, downgrading it to merely an “ambition” that was “too expensive.” Johnson faced some derision after [...]
British Business Bank’s oversight of Greensill was ‘woefully inadequate’ with £335m of taxpayers’ money at risk November 20, 2021 A new report has warned that up to £335m of taxpayers’ money is at risk due to failures by the British Business Bank to properly scrutinise bust lender Greensill Capital. The Public Accounts Committee of MPs found that the bank, which oversaw the billions lent to businesses during the pandemic in loans backed by the [...]
It’s about time for Rishi Sunak to make his mind up on road tax for electric vehicles November 19, 2021 Britain is firmly on the front foot towards a transition to electric vehicles. Last week, as he unveiled a new design for charging stations, Transport Secretary Grant Shapps said he hoped they would become as iconic as the black cab. The government’s newly announced zero emissions vehicle (ZEV) mandate will set electric vehicle sales targets [...]
‘Great train robbery’: Labour outrage at government cuts to HS2 November 18, 2021 Labour has labelled the government’s decision to cut the eastern leg of HS2, which would have connected Birmingham to Leeds, a “great train robbery”. Transport secretary Grant Shapps confirmed today, after a series of press stories this week, that the eastern leg of the high speed rail line will instead go from Birmingham to near [...]
British Patient Capital enjoys VC bumper year and boosts startup portfolio by almost a third November 18, 2021 British Patient Capital (BPC), the venture capital subsidiary of UK government-owned British Business Bank (BBB), today announced it committed almost £300m to investing in the growth of British startups in the year to March 2021. During the pandemic-defined year, its underlying portfolio of companies increased by almost a third from 503 to 676, with three [...]
Swelling energy bills propel inflation to 4.2 per cent, more than double Bank of England’s target November 17, 2021 Swelling household energy bills have propelled inflation to more than double the Bank of England’s target, dialling up pressure on the Old Lady to act to hose down red-hot price rises. Inflation scaled to 4.2 per cent in October, up sharply from 3.1 per cent in the previous month, according to the Office for National [...]
Reeves says Labour still committed to post-Brexit equivalence for the City November 16, 2021 Labour is still committed to getting a post-Brexit equivalence deal for the UK’s financial services sector if elected, shadow chancellor Rachel Reeves has said. Reeves told TheCityUK’s national conference today that, if elected, Labour will “fix some of the holes in the patchwork Brexit deal with the EU”. The UK’s financial services sector has not [...]
Jobs market turbulence after furlough fails to rear its head as Brits in work swells 0.6 per cent to over 29m November 16, 2021 An expected wave of job losses after government support measures propping up the jobs market were pulled has seemingly been averted. The number of payrolled employees climbed 160,000 over the last month, or 0.6 per cent, to 29.3m. This is the first period which the Office for National Statistics (ONS) has examined the labour market [...]
A global tax cartel with a minimum corporation rate will undermine Britain November 16, 2021 FOR the last fortnight, Glasgow has soaked up the attention of the world as we contemplate our future. But only days before, G20 leaders rubber stamped a deal that will determine much of our destiny: a global minimum tax. Rishi Sunak, who claimed to be squeamish about tax rises in his Budget, called these “seismic [...]
Peloton was a lockdown sprinter, now it has to run a marathon to fight the competition November 16, 2021 Peloton was known for revolutionising the fitness sector during Covid. Its stationary bike, launched in 2014, was the beginning of its journey. The company’s evolution has been fuelled by millions of pounds in funding and technology to create the brand we know now: the flagship bike, which works in tandem with a monthly video class [...]