It’s unlikely Switzerland will be paying every citizen a basic income June 5, 2016 You might be surprised to find Britain isn't the only country in Europe that's in the throes of a referendum. Switzerland is having its own vote on whether it should pay everyone in the country a basic income rather than running a complicated welfare system – and the initial results are in, according to the pollsters. The wealthy [...]
Brexit odds cut again as Leave confidence grows June 5, 2016 Odds of Brexit have been shortened again as confidence in a vote to leave Europe grows. The likelihood of Britain leaving the EU has increased to 29 per cent, or odds of 9/4, according to Ladbrokes. Remaining a part of the bloc is still the most likely outcome in the 23 June referendum, however, that has shrunk, with [...]
Sir John Major is very angry at the Brexit campaign June 5, 2016 Former Prime Minister Sir John Major has launched a scathing attack on the Leave campaign accusing it of misleading people. A supporter of remaining in Europe, Major accused the Leave campaign of being "dishonest" and "verging on the squalid". "I'm not prepared to give the benefit of the doubt [to the Leave campaign]… this is a deceitful campaign," [...]
David Cameron warns of mortgage rise if Britain votes for Brexit June 5, 2016 David Cameron has warned that mortgages could rise for millions of homeowners if Britain votes to leave the EU. The Prime Minister has said average repayments could rise by nearly £1,000 a year because leaving Europe could lead to tighter credit controls as well as pushing up interest rates. But the claim has been called "desperate" [...]
RAC says petrol prices below £1 a litre “distant memory” June 4, 2016 The RAC declared the days of sub £1 a litre petrol a "distant memory" as it said prices rose for the third consecutive month in May. The average unleaded pump price rose 2p to 110.59p a litre, while the average diesel forecourt price jumped 2.2p to 110.7p. Average supermarket prices for petrol and diesel increased by two per cent [...]
Dollar plummets as US reports weakest jobs growth in six years, pushing back expectations of a US rate rise June 3, 2016 "Crazy". "Absolute shocker". "Unbelievable". It's safe to say US jobs growth just blew analysts' minds. Official data published today showed US employers added just 38,000 jobs last month – the lowest figure in six years, and way below the 160,000 expected. Meanwhile, earnings growth remained weak, rising just 0.2 per cent on last month, down from 0.4 [...]
EU referendum: Brexit will cost six per cent of GDP, says Economist Intelligence Unit June 3, 2016 If the UK votes for Brexit the country's economy will be plunged into uncertainty, resulting in a cost of six per cent of GDP, according to new research. Research from the Economist Intelligence Unit forecasts that in the first instance there will be tumultuous financial market volatility, followed by a "swift impact on the real [...]
German and French economic growth forecasts cut June 3, 2016 France and Germany have had their growth forecasts trimmed, in another sign that the Eurozone's economic recovery could be at a low ebb. Germany's central bank, the Bundesbank, chopped its gross domestic product forecast by 0.1 percentage points to 1.7 per cent for this year, and by 0.3 percentage points to 1.4 per cent in 2017. Read more: Inflation [...]
It’s a hat trick: UK growth to dip in the second quarter as service sector activity disappoints again in May June 3, 2016 Activity in the UK's most dominant sector rose slightly in May – but remained disappointing, pushing down expectations for GDP growth, data published today showed. Markit said the purchasing managers' index rose to 53.5 in May, from 52.3 in April. Anything above 50 indicates an expansion. But April's figure was a 38-month low – and May's [...]
Dumbed down Brexit row patronises voters June 3, 2016 Like clockwork, yesterday brought another slew of extreme projections about the impact of Brexit. It would “destroy” young people’s hopes of getting on the housing ladder, says Remain, apparently forgetting George Osborne’s warning last month that house prices could fall dramatically if the UK quits the EU (surely a boon for first-time buyers). Leave has [...]