GDP grew 0.4 per cent in August, as Brits rush to eat out and return to theme parks October 13, 2021 Gross domestic product (GDP) grew 0.4 per cent in August 2021, according to the latest figures, remaining 0.8 per cent below its pre-pandemic level. The sectors offering the “strongest contribution”, according to the Office for National Statistics (ONS), were accommodation and food services, which boosted GDP 0.28 per cent. Sports and recreation industries have [...]
City lobby group presses Sunak to scrap bank tax October 13, 2021 The City’s chief lobbying group has called on Chancellor Rishi Sunak to scrap the bank surcharge to reinforce the UK’s leading role as a global finance hub. TheCityUK has demanded Sunak remove the eight per cent levy on banks’ profits at the upcoming budget and spending review on October 27. The lobby group urged the [...]
City lobby group presses Sunak to scrap bank tax – CityAM : CityAM October 13, 2021 The City’s chief lobbying group has called on Chancellor Rishi Sunak to scrap the bank surcharge to reinforce the UK’s leading role as a global finance hub. TheCityUK has demanded Sunak remove the eight per cent levy on banks’ profits at the upcoming budget and spending review on October 27. Also Read: Sunak eyes overhaul [...]
Cabinet office minister warns businesses giving bonuses and dividends to not expect government support October 12, 2021 Struggling companies facing high gas prices could be refused a government bailout this winter if they have paid out big dividends and bonuses. Cabinet office minister Steve Barclay told Times Radio that the Treasury would scrutinise whether any interventions represented “value for money”. He said: “It’s right from a taxpayer point of view, mindful of [...]
Cabinet office minister warns businesses giving bonuses and dividends to not expect government support – CityAM % : CityAM October 12, 2021 Struggling companies facing high gas prices could be refused a government bailout this winter if they have paid out big dividends and bonuses. Cabinet office minister Steve Barclay told Times Radio that the Treasury would scrutinise whether any interventions represented “value for money”. He said: “It’s right from a taxpayer point of view, mindful of [...]
UK muscles out G7 to top economic growth league October 12, 2021 The UK has muscled out its rich nation rivals to top the table for economic growth this year. Britain’s economy will expand 6.8 per cent this year, a faster rate of growth than any other G7 country, according to the International Monetary Fund (IMF). Despite trimming its forecasts by 0.2 percentage points, the UK will [...]
Sunak eyes overhaul of capital raising rules to boost London market post-Brexit October 12, 2021 Rishi Sunak has set out his ambition to make capital raising easier for public companies listed in London as a part of the government’s regulations overhaul post-Brexit. The chancellor today launched the UK Secondary Capital Raising Review, which will look at ways of giving listed companies greater access to capital through secondary transactions in a bid [...]
Rishi Sunak blasted for using £19bn of IMF funds as UK aid money abroad October 12, 2021 The Treasury is said to consider using a windfall from the International Monetary Fund (IMF) as aid money, by ‘recycling’ billions of pounds, according to reports. Sunak is preparing to use a large portion of the funds to contribute to the UK’s current aid spending rather than using it in addition to what is planned, [...]
Markets brace for Christmas BoE rate hike October 12, 2021 THE UK could be stung by an earlier than expected rate hike as the Bank of England moves to hose down runaway inflation. Investors kicked off the week yesterday by repositioning their bets toward a first rate increase since the onset of the Covid-19 crisis at the Bank’s last rate setting meeting of the year [...]
Unemployment drops by 0.4 per cent to 4.5 per cent October 12, 2021 The number of UK workers on payrolls rose by 207,000 between August and September to a record 29.2m, returning to levels seen before the pandemic struck, the Office for National Statistics (ONS) said. The unemployment rate in the UK shrank 0.4 per cent to 4.5 per cent. Though unemployment fell, the number of job vacancies [...]