As the ECB “steps up” stimulus plans, will it do enough to prevent a Eurozone recession? December 4, 2014 Azad Zangana, European economist at Schroders, says Yes. The 2015 outlook for the Eurozone is precarious. Governments are continuing with austerity, while business surveys suggest a downturn is on the horizon. Markets are demanding the European Central Bank (ECB) adds QE to the measures already being used. Despite German resistance, president Mario Draghi has stated [...]
Boris Johnson launches £85m fund to lift London’s tech start-ups December 4, 2014 The Mayor of London has launched an investment fund which will make up to £85m available to the capital's most exciting science, technology and digital start-ups. Boris Johnson has pledged an initial £25m towards the London Co-Investment Fund, which will help new businesses looking for a cash injection between £250,000 and £1m. The fund, which hopes [...]
ECB cuts European growth forecasts December 4, 2014 The European Central Bank (ECB) has slashed its forecasts for European growth, saying it now expects GDP in the region to rise by just one per cent next year, down from 1.6 per cent. It also cut forecasts for this year to 0.8 per cent, from 0.9 per cent, while growth in 2016 will hit [...]
George Osborne slams BBC over “hyperbolic” coverage of Autumn Statement spending cuts December 4, 2014 Chancellor George Osborne is less than impressed with some of the broadcast coverge given to his last major set piece event yesterday in the form of the Autumn Statement. Osborne denounced coverage of spending cuts to be delivered in the next parliament as "totally hyperbolic". The comments came after he was challenged with figures from [...]
Autumn Statement 2014: Rich pickings for George Osborne – banks, mansions, multinationals, tobacco December 3, 2014 George Osborne delivered sweeping reforms to property tax yesterday, in an Autumn Statement that aimed to raise extra billions from banks, tobacco companies, international corporations and buyers of expensive properties. Attempting to knock the wind out of Ed Miliband’s Labour party, the chancellor sought to neutralise several of the opposition’s key policies, taking on the [...]
ICAP’s charity day competes with Osborne’s giveaways December 3, 2014 ICAP’S Michael Spencer went head-to-head with the Autumn Statement for column inches yesterday – holding his annual charity day, with the likes of Cheryl Fernandez-Versini (pictured), Prince Harry, Damian Lewis, Lord Jeffrey Archer and Dame Helen Mirren all helping to raise money by making trades. The inter-dealer broker is supporting around 200 charities globally and [...]
Autumn Statement 2014: George Osborne hits banks to help home buyers December 3, 2014 Chancellor plays Robin Hood by grabbing from the wealthy to fund stamp duty sweetener for those lower down property ladder. THE UK ECONOMIC OUTLOOK ● The UK’s economic growth has outperformed the March forecast of the Office for Budget Responsibility (OBR), giving Britain the fastest growth rate in the G7. ● Unemployment has fallen [...]
Autumn Statement 2014: George Osborne tells Labour – anything you can do, I can do better December 3, 2014 Picture the scene. A room full of Treasury policy experts, a month or so before the Autumn Statement. The mood is tense, everyone knows the numbers aren’t as good as the chancellor hoped and the election looms menacingly on the political horizon. Pacing up and down, a pensive look on his newly-slim face, George Osborne addresses [...]
Autumn Statement 2014: There’s only one thing on George Osborne’s mind – Editor’s Letter December 3, 2014 George Osborne is the consummate tactician. With 153 days to go to the election, there’s only one thing on his mind, and that’s how to breeze past opposition parties on the journey back to Downing Street. And who can blame him? After all, he’s the one who has kept the economy on the road and [...]
Autumn Statement 2014: Reactions to George Osborne’s announcement – from the City economist to the property expert December 3, 2014 THE BUSINESS GROUP Confederation of British Industry director general John Cridland Growing firms will benefit from business rates reform. We welcome continued commitment to deficit reduction. “These major changes on stamp duty and business rates will be a shot in the arm for families and growing firms as they look towards 2015. [...]