Sunak reveals new climate impact disclosure rules July 1, 2021 Chancellor Rishi Sunak has today announced plans to introduce new rules to force firms to reveal their impact on the climate. Speaking at Mansion House, Sunak announced that businesses across the economy will have to report on the impact they are having on the climate and environment. “We’re launching new requirements for businesses and financial [...]
Job losses could surge as furlough support reduces from today July 1, 2021 Job losses could surge as furlough support reduces from today
Sunak to set out vision for UK financial services as new green bonds unveiled July 1, 2021 Rishi Sunak will today lay out plans to make Britain the most “advanced and exciting” country for financial services in the world in his first ever Mansion House address. The speech comes after the Treasury revealed the first details of the government’s plan for the UK’s first ever green sovereign bond – or gilt – [...]
City of London ‘set for exemption from new global tax rules’ June 30, 2021 The City of London is set to win an exemption from new global proposals for taxing multinational companies in a boon for the Square Mile’s largest banks. The FT reported that Britain’s pitch for a carve-out for its financial services sector has been accepted in the ongoing talks at the OECD in Paris. But sources [...]
HMRC launches 13,000 investigations into potential Covid support scheme fraud June 28, 2021 The UK tax authority has opened almost 13,000 probes into businesses that may have abused the government’s coronavirus business support schemes. HM Revenue & Customs (HMRC) is investigating potential fraud and other non-compliance with the rules for the use of the government’s furlough programme, self employment income support scheme, and the “eat out to help [...]
Prince Philip to feature on commemorative £5 coin June 26, 2021 The Royal Mint has unveiled a special commemorative £5 coin to celebrate the life and legacy of the Duke of Edinburgh. The limited edition coin features an original new portrait that was approved by Prince Philip in 2008. The coin, which is being released as part of Armed Forces Day, is designed to commemorate the [...]
Rishi Sunak vows to change UK’s ‘economic geography’ June 24, 2021 Rishi Sunak has vowed to alter the UK’s “economic geography” by ensuring the post-Covid recovery is “more evenly felt across the country”. Sunak also highlighted the need for Britain to invest in high-growth sectors, such as fintech, which the chancellor says will fundamentally alter the economy. Sunak highlighted the government’s Help to Grow scheme, which [...]
FCA boss vows transformation after MPs slam historic ‘culture’ failings over mini-bond collapse June 24, 2021 The Financial Conduct Authority said it was embarking on a “wide-ranging transformation programme” after MPs lambasted it for historic failings relating to the collapse of London Capital & Finance (LCF). A report from the influential Treasury Select Committee of MPs said that a change in the FCA’s “culture” was required to protect consumers from a [...]
Travel industry unites in last-gasp SOS as second ‘lost summer’ looms June 23, 2021 Pilots, travel agents and union members descended on Westminster this afternoon in a plea for the government to “save” the long-suffering travel industry. Due to Covid-19 restrictions, the protestors were forced to appear one after another in two groups of 400, as part of a coordinated campaign of similar events around the country. But even [...]
Biden economic aide: US recovery has been “spectacular” and suggests inflation fears overblown June 23, 2021 President Biden’s chief economic adviser Professor Cecilia Rouse has described the US economy’s recovery as “spectacular” but warned of a “bumpy” time ahead. Rouse, the Chair of the White House’s Council of Economic Advisors, told the BBC that she felt price pressures would be “transitory” and said Biden’s macro-economic plan was not driving inflation upwards. [...]