CBI calls for ‘fundamental change’ to UK tax system to achieve climate change goals March 11, 2021 One of the UK’s most influential business groups has called for the government to deliver wholesale changes to the country’s tax regime in order to hit its 2050 net zero target. The CBI said that instead of making changes to individual taxes, ministers should instead pursue “fundamental change with a holistic, coherent tax plan”. It [...]
If done right, Rishi Sunak’s towns fund will reap huge rewards and end decades of top-down strategies March 10, 2021 Nurses’ pay has been one of the biggest flash points of last week’s budget. But, the Chancellor also stirred up lesser, but no less important, furores. One of these was the list of places which are set to receive money from a whole string of new initiatives for the regions. For example, under the Towns [...]
Boris Johnson signals willingness for new UK online tax on internet giants March 10, 2021 Boris Johnson has today signalled he could be open to a new online tax on tech giants like Amazon, while highlighting the taxation “discrepancy” between digital and bricks and mortar businesses. Johnson said during Prime Minister’s Questions (PMQs) today that chancellor Rishi Sunak has “tried to address” the discrepancy “in an equitable way”. Sunak has [...]
Why civil servants shouldn’t fear a move to Darlington March 10, 2021 Guy Opperman, the MP for Hexham in Northumberland and the Minister for Pensions, on falling for the charms of the North East and why Treasury civil servants shouldn’t shed any tears when they move from London to Darlington. The Chancellor Rishi Sunak’s Budget was truly transformative. The North East will be home to the flagship [...]
UK financial services sector shakes off Covid blows as vacancies surge March 10, 2021 Vacancies in the financial services sector are well on their way to recovery after a sharp slump at the start of the pandemic, according to new APSCo data. Research from the Association of Professional Staffing Companies (APSCo) showed hiring fell 58 per cent in the second quarter of 2020 as Covid battered employment prospects. However, numbers [...]
Financial services’ annual reports across the Atlantic chart path to optimistic Covid recovery March 10, 2021 Britain’s economy entered crisis mode in March last year and plotting a course toward recovery dominated the recent budget. But there is reason for optimism, and the conclusion of the annual reporting cycles for the leading financial institutions in the UK and the US can tell us a lot about where we will see growth [...]
Habito launches UK’s longest-ever fixed rate mortgages March 10, 2021 Habito has today announced that it will launch the nation’s longest-ever fixed rate mortgage, which will come without early repayment charges or exit fees. The “Habito One” will give buyers of all types access to long-term fixed rate periods starting at 10 years, going up to an unprecedented 40-year fixed rate term. The firm said [...]
HSBC launches £15bn lending fund for British SMEs March 10, 2021 HSBC has today launched a new £15bn fund to help UK SMEs through the economic recovery. The fund, which includes over £10bn of regionally focussed allocations, seeks to move away from the “traditional” London focus and drive growth in regions across the country. “The past 12 months have highlighted the challenges many small businesses face. [...]
British Business Bank boss calls for more ‘risk-sharing’ in recovery loan scheme March 10, 2021 The head of Britain’s state-owned business bank has called for more risk-sharing in SME lending as she looks at combatting fraud in a new loan scheme. Catherine Lewis La Torre, who took over as chief executive of the British Business Bank (BBB) in September, told City A.M. there is a need for the market to [...]
George Osborne hits out at Sunak’s ‘unenterprising’ corporation tax hike March 9, 2021 Former chancellor George Osborne has slammed Rishi Sunak for his £45bn plans to raise corporation tax, saying they will send a message to other countries that “Britain isn’t a very enterprising place”. Osborne said today that he would have preferred to raise VAT to raise government revenues instead of Sunak’s plan to hike corporation tax [...]