Autumn Statement 2015: Where will chancellor George Osborne make budget cuts and find savings in his Comprehensive Spending Review? November 24, 2015 A combination of manifesto commitments, pressure from backbenchers and budget decisions have left George Osborne in a peculiar and difficult situation: he is going to have to find the vast majority of his savings from a very small number of places. Ring-fencing has been widespread: the Institute of Economic Affairs estimates that more than 70 per cent of government [...]
Government bonds, the Swiss franc, the Japanese yen: Safe havens gain after Turkey downs Russia jet November 24, 2015 Investors piled into low-risk assets such as government debt and traditionally safe haven currencies following the downing of a Russian military aircraft by Turkish warplanes earlier today. It's still unclear exactly how significant the incident could be, although Russian President Vladimir Putin has condemned it as a "stab in the back", claiming it showed Turkey's support for terrorists. Turkey, a Nato member, claims [...]
EU referendum: More Britons now want to leave the European Union than want to stay November 24, 2015 Those campaigning for the United Kingdom to leave the European Union were given a boost this morning as a new poll revealed Brexit support gaining momentum The OBR poll showed that for the first time in six months of asking the same questions a majority of the UK public now want to leave the EU. Some [...]
Autumn Statement 2015: What do free marketeers want from chancellor George Osborne and what do they think they’ll get? November 24, 2015 True to chancellor George Osborne’s record, tomorrow’s Autumn Statement promises to be a highly politicised event and one that has been mired by recent events including the Paris attacks, borrowing figures and controversy around cuts to tax credits, departments, services and welfare. Forgetting the political theatre, just what do free marketeers want from this Budget? Tax credits Let's [...]
US issues global travel alert amid “increased terrorist threats” as manhunt continues for Paris attackers November 24, 2015 The United States yesterday issued a worldwide alert for Americans planning to travel, citing the "increased terrorist threats". The State Department did not go as far as to advise people against travel, but said US citizens should be vigilant, especially in crowded places. "Current information suggests that (Islamic State), al-Qaeda, Boko Haram, and other terrorist groups continue to plan [...]
Spending Review 2015: Government announces it’s spending another £10bn a year on NHS November 24, 2015 The government has announced today that it will spend an additional £10bn a year above inflation by the end of the decade on the NHS. The additional funding will help pay for 800,000 more operations and treatments, 2m more diagnostic tests and 5.5m more outpatient appointments, according to the Treasury. The extra cash is also expected [...]
Institute of Economic Affairs debunks fears over 24-hour drinking: Licensing Act did not result in catastrophe November 24, 2015 Relaxing liquor licensing laws has benefited consumers and caused little harm, the Institute of Economic Affairs (IEA) is arguing today. On the tenth anniversary of the Licensing Act and so-called 24-hour drinking, the free-market think tank has said that looser licensing laws “did not result in the catastrophic outcomes” predicted a decade ago. “The apocalypse [...]
London airport expansion: CBI president says UK can’t “pass the buck” to the next generation November 23, 2015 Britons can’t “pass the buck” to the next generation when it comes to building another runway, the president of Britain’s biggest business group has said. Speaking at the Airport Operators’ Association Conference earlier today, Confederation of British Industry (CBI) president Paul Drechsler said the “window of opportunity is closing fast” for more airport capacity. “Every [...]
Prime Minister David Cameron says he will make the case for UK military action in Syria November 23, 2015 Prime Minister David Cameron has confirmed that he will make the case for British air strikes in Syria. Speaking to MPs in the House of Commons this afternoon, Cameron said that he will make a separate statement on Thursday setting out how attacking the so-called Islamic State (IS) in Syria would help defeat the violent [...]
Uber and the Licensed Taxi Drivers Association to square off before MPs November 23, 2015 Top bosses from Uber and the Licensed Taxi Drivers Association are set to be questioned by MPs tomorrow morning. Both Uber's head of public policy in the UK Andrew Byrne and Licensed Taxi Drivers Association chairman Richard Massett will give evidence to the influential business, innovation and skills (BIS) committee as part of its inquiry into the digital economy. [...]