Theresa May steps up Brexit charm offensive, reassuring City chiefs at Downing Street and Morgan Stanley party March 9, 2017 Prime Minister Theresa May has been stepping up a City charm offensive in recent weeks, hosting top bankers and asset managers at Downing Street, Morning Wire can reveal. It is understood an hour-long meeting at No 10 in late February was attended by Aberdeen Asset Management boss Martin Gilbert, Schroders’ Peter Harrison, Barclays chief Jes [...]
A former Tory minister is to lead calls for a new cap on energy price increases next week March 9, 2017 A former Conservative minister is to lead cross-party calls for a new intervention into the UK's energy market, demanding fresh restrictions on pricing. Ex-cabinet office minister John Penrose will next week tell the government to create a new “relative price cap” to limit suppliers ability to hike bills. In a backbench debate in the House of Commons on [...]
Liam Fox extols the virtues of free trade at an inaugural Commonwealth trade summit March 9, 2017 International trade secretary Liam Fox has met with more than 20 different Commonwealth counterparts at the first meeting of its kind at Lancaster House. The Commonwealth Secretariat hosted Fox and trade ministers from around the world for a summit in London to discuss increased collaboration in commerce. And speaking at the event, Fox extolled the [...]
London Assembly members have sided with Uber over English language tests and want the mayor Sadiq Khan to drop written plans March 9, 2017 London Assembly members have sided with Uber in the battle over English language tests, despite Transport for London triumphing in court last week. The majority of members have backed a motion calling on the mayor Sadiq Khan to ditch the requirements for written tests for Uber and other minicab drivers due to the disproportionate and unfair [...]
Donald Trump’s Republicans want a trade deal with the UK, and they want one quickly March 9, 2017 Two weeks ago I was in the United States. I met with officials, staff and influential Republican supporters and I can tell you that there is no shortage of enthusiasm for a UK – US trade deal. The Trump administration may still be settling in, but behind the scenes, his supporters and key figures see [...]
Chancellor Philip Hammond unveils Midlands Engine strategy with £392m investment and plans to cut congestion March 9, 2017 Chancellor Philip Hammond unveiled details of his Midlands Engine plans today, including £392m through the Local Growth fund to improve transport connections. This includes £151m for the West Midlands City region, the largest award for any area. There are also transport and infrastructure plans to improve the Midlands, including a commitment that by 2018, all [...]
Tax rise on national insurance “modest but welcome” says IFS on chancellor Philip Hammond’s Budget March 9, 2017 Moves by chancellor Philip Hammond to increase national insurance tax on the self-employed are “modest but welcome”, according to an influential economics think tank. Paul Johnson, head of the Institute for Fiscal Studies (IFS), said the tax increase will help “shore up the tax base and create a slightly less unequal playing field.” The increase [...]
Theresa May’s Article 50 Brexit bill could be approved by parliament as soon as Monday March 9, 2017 Prime Minister Theresa May could be handed the power to begin Brexit negotiations as early as Monday, with the House of Lords on notice to rapidly approve legislation. MPs are set to debate the Article 50 Bill from Monday, with focus on amendments installed by the House of Lords. However, while time has been allotted for [...]
Downing Street is refusing to rule out a u-turn on a National Insurance tax hike for the self-employed March 9, 2017 Chancellor Philip Hammond's plan to hike National Insurance contributions (NICs) for self-employed workers has continued to generate controversy, with Downing Street today refusing to rule out a review of the scheme. Hammond has been at pains to defend the plans today, but increasing numbers of Tory MPs have come out against the plan to up NICs [...]
Hammond will need legendary persistence to find the productivity Holy Grail March 9, 2017 Legend has it that the Holy Grail was the cup used during the Last Supper and by Joseph of Arimathea to collect Christ’s blood at the Crucifixion. Finding the Grail was the mission of the knights of King Arthur. They are still looking. King Arthur and the Grail rarely feature in the cast of Budget [...]