Leading business figures call on Sunak to slash taxes to return to 90s growth October 5, 2020 Leading business figures have backed calls from the Institute for Economic Affairs (IEA) for the government to implement similar policies to those that contributed to the best period of economic growth in recent history. These include slashing and streamlining taxes in order to build a “bright future”. Wetherspoons founder Tim Martin, JP Morgan VP Laurence [...]
Rishi Sunak warns Boris Johnson against another Covid lockdown October 5, 2020 Chancellor Rishi Sunak has today called his government’s 10pm curfew “frustrating” as he warns against the prospect of a future national lockdown. Sunak, who is the cabinet’s leading voice against imposing more stringent Covid restrictions, also denied that his Eat Out to Help Out scheme helped spur the country’s second spike in infections. On the [...]
5G rollout across Britain set to create 5,000 jobs October 5, 2020 Telecoms firms have pledged to create 5,000 new UK jobs through the rollout of 5G technology across Britain, marking a rare bright spot on the bleak jobs horizon during the pandemic. Liberty Global, which owns Virgin Media, and O2’s Spanish owner Telefonica, have announced plans to create 4,000 jobs and 1,000 apprenticeship roles in the [...]
High rents force three in four hospitality businesses to consider restructure or insolvency October 5, 2020 73% of London-based hospitality and leisure operators are considering a restructure or insolvency as a result of the economic impact of the ongoing pandemic. Advisory firm Cedar Dean, which surveyed 230 hospitality and leisure businesses with around 2,000 venues across the UK, found that rental obligations are currently the most pressing issue. 86% of London-based [...]
G-A-Y launches legal challenge against 10pm curfew on hospitality venues October 5, 2020 The owner of London’s G-A-Y nightclub is set to launch a legal challenge against the government’s 10pm hospitality curfew over claims it treats the night-time economy as a “scapegoat” for the spread of coronavirus. Jeremy Joseph, owner of the London club and pub chain, today said he would pursue a potential judicial review on the [...]
UK launches £238m Covid unemployment programme October 5, 2020 The government has today launched a £238m unemployment programme to provide skills and training to people who have lost their jobs during the Covid crisis. The Job Entry Targeted Support scheme will provide participants with CV and interview training, individual work coaches and “specialist advice on how people can move into growing sectors”, according to [...]
More than 1,000 UK pubs plead for government help after dire Friday trading following 10pm curfew October 4, 2020 Pub owners are pleading with the government for more support after their second poor Friday night of trading after the new 10pm curfew
Sadiq Khan requests more than £29bn from Treasury’s spending review October 1, 2020 Sadiq Khan is requesting more than £29bn from central government during its spending review, including £5.65bn for Transport for London (TfL) over the next 18 months. Khan submitted his requests to Rishi Sunak’s spending review yesterday, which included requests for an extra £20.5bn to build affordable homes, £1bn for new electric buses, a £1.5bn national [...]
Government gives parliament say over future Covid restrictions September 30, 2020 The government has agreed to give parliament a level of oversight over future Covid restrictions that affect the whole country in a bid to quell a rebellion from backbench Tories. Health secretary Matt Hancock said the government would “consult parliament” before announcing future England or UK-wide Covid restrictions and would “wherever possible…hold votes before such [...]
State-owned bank raised concerns over bounce back loans’ fraud risk September 30, 2020 The state-owned British Business Bank issued formal objections to the government’s coronavirus Bounce Back Loan and Future Fund schemes ahead of their launch, newly-released documents show. In letters sent to business secretary Alok Sharma in May, BBB chief executive Keith Morgan raised concerns including the BBL scheme’s “very significant fraud and credit risks” and whether [...]