Small businesses at sea over Brexit as the weak pound causes headaches

Monday 13 February 2017 1:00 am Small businesses at sea over Brexit as the weak pound causes headaches Rebecca Smith Read more: #Marmitegate: Tesco boss warns suppliers against hiking pricesMoore Stephens noted that various small businesses have been similarly affected; forced to raise prices or watch profit margins get eroded as their prices start to rise.Mark Lamb, partner at Moore Stephens, said: “Just six months on from the Brexit vote a large number of SMEs say they have already been affected by the UK’s decision to leave.”“The fall in the pound has meant that imports of raw materials and other goods are now significantly more expensive for businesses, particularly for those smaller businesses with a smaller cash cushion to fall back on.”“General uncertainty over the future is also a key contributor for some as clients put projects on hold and customers pull back on spending.” Share The accountancy firm surveyed around 700 business owners to gauge their views on how Brexit will impact their firms in the coming year.Read more: Parliament is likely to be virtually powerless as Brexit remakes BritainOf those, 35 per cent said they had already been negatively hit by Brexit, though more were in support of Brexit than the year before. While 17 per cent were in favour of leaving the EU in 2015, this had risen to 32 per cent for 2016, though 56 per cent of business owners still remained opposed to leaving the EU.Some 59 per cent were confident about the year ahead; a drop from 77 per cent recorded in the previous year and a three-year low from the survey. A fifth of business owners also expressed concerns that leaving the EU will make UK businesses less attractive to investors.While the rise in prices caused by exchange rates has been felt by firms of all sizes, it came to public attention most prominently in Marmitegate, when Tesco temporarily withdrew Unilever products from stores after Unilever said the increase in imported goods had forced the firm to raise prices. Theresa May has not triggered Article 50 yet, but the uncertainty stirred up by Brexit, and the weak pound, are already weighing on small and medium-sized businesses.According to accountancy firm Moore Stephens, the fall in sterling in the wake of the Brexit vote on 23 June has been a key problem for businesses, with exchange rates particularly affecting smaller firms that rely heavily on imports from overseas. whatsapp whatsapp read more

May’s leadership nightmare isn’t over and now the EU’s offer to extend Brexit talks could herald another election

Boris Johnson may be out of favour with business after his rude dismissal of industry shortly before he resigned, but as a poll showed yesterday, he’s top of the pops among party members – and their votes matter.The pro-Brexit European Research Group has so far kept its powder dry on demanding a leadership challenge, preferring to shepherd May into positions broadly of their liking. These MPs are also pathologically opposed to any delay in leaving the EU.But if the hated Chequers plan remains in place, while Johnson’s popularity surges as Jeremy Corbyn’s wanes, they may suddenly find themselves in rare agreement with Macron and co.Read more: Sterling drops against the dollar after Article 50 trigger date confirmed whatsapp Catherine Neilan whatsapp Share Increasingly European leaders are said to back an extension to Article 50, amid fears the gap between the two sides will not close in time to reach a deal.Read more: First stop, Swansea – May embarks on UK tour to galvanise Brexit supportBut City A.M. has learned there is a new caveat attached: the date of the UK’s formal departure can and will be pushed back if there is a particular reason – what one source calls “a significant change” – understood to mean a general  election and the arrival of a new PM.This has been proposed by “serious people” on the EU27 side according to Whitehall sources. It is not thought to have been floated as a Grexit-style play to destabilise the UK and shift the balance of power in talks further from Westminster – although that is a likely outcome. But there is a recognition from the European capitals that May is still weak and could be weakened further if her ambitious summer of love approach to get member states onside fails.Back home, thoughts of a coup are never far from the minds of pretenders to the crown, with Jeremy Hunt and Sajid Javid seen as on manoeuvres to build support ahead of what sources refer to as a “beauty parade” at the Conservative Party conference in the autumn. Thursday 2 August 2018 11:14 am May’s leadership nightmare isn’t over and now the EU’s offer to extend Brexit talks could herald another election Theresa May heads to the fortress-turned-holiday retreat enjoyed by French Presidents this Friday at the invitation of Emmanuel Macron. Though the PM might hope for a little Mediterranean respite after the past few bruising months, she will be expecting a robust exchange with a smooth operator who has become a serious thorn in her side.Because it is not just the European Commission who is fighting her Brexit plans every step of the way. France has been the UK’s biggest adversary since the referendum result was revealed, and despite warm words said in public, there has been no discernible shift in policy over the last two years. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoTotal PastThis Woman’s Obituary Was So Harsh, Her Son Was Left ReelingTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoVitaminewsFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldVitaminewsUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoAuto InquirerA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedAuto InquirerUndo read more

Chief exec gender imbalance will take a decade to fix, says JP Morgan boss Dimon

first_img Share Thursday 27 September 2018 6:18 pm Tags: Jamie Dimon JP Morgan Chase People Chief exec gender imbalance will take a decade to fix, says JP Morgan boss Dimon by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChattermoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutBetterBe20 Stunning Female AthletesBetterBeCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverstZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldRest Wow68 Hollywood Stars Who Look Unrecognizable NowRest WowMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPail Speaking at a female leadership event in New York yesterday Dimon said it could be between 10 to 15 years until women make up 10 per cent to 15 per cent of top jobs, according to Bloomberg.Read more: Investment Association boosts board gender diversity with shake upDimon said JP Morgan had made progress with promoting women into senior roles, but added that it is an issue that only 30 per cent of vice presidents at the investment bank are female and 10 of the 12 board members are men.This year, 24 women were in charge of companies that made the annual Fortune 500 list, which ranks the top businesses in the US by revenue, which is just under five per cent.The highest ranking company with a female leader on this year’s list was Mary Barra, chief executive of General Motors, in 10th place. Jessica Clark   A wave of female chief executive officers could be at least a decade away, according to chief executive of JP Morgan Chase & Co Jamie Dimon. whatsapp Read This Next20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The WrapIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamourJim Cramer Calls for Billionaire Tax: ‘This Society Has to Start AddressingThe WrapTop 5 Tips If You’re Losing Your EyebrowsVegamourWhat Causes Hair Loss? Every Trigger ExplainedVegamour’Drake & Josh’ Star Drake Bell Pleads Guilty to Attempted ChildThe Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapSmoking and Hair Loss: Are They Connected?VegamourThis Is How Often You Should Cut Your HairVegamour Only three per cent of women in the largest 500 companies worldwide are women, according Ipsos Mori statistcs published on International Women’s Day in November this year.Read more: Accenture, Novartis and Diageo lead a new diversity index whatsapplast_img read more

Philip Hammond confirms he will borrow more and look at tax changes in ‘no deal’

first_imgWednesday 5 December 2018 5:23 pm whatsapp Philip Hammond confirms he will borrow more and look at tax changes in ‘no deal’ whatsapp Owen Bennett With the risk of inflation spiralling, the Bank would be forced to tighten monetary policy, leaving it to the Treasury to borrow an additional £15billion already earmarked as buffer fund.The UK’s tax system would also be examined, meaning Hammond may dramatically cut business tax in order to pull in investment – a move he has repeatedly hinted at.Hammond also admitted the economic reports produced by the government and the Bank – which both predicted smaller economic growth compared to the UK staying in the EU – did not take into account the levers he would pull in such a situation.When challenged over the government’s response to the UK leaving the EU without a deal, Hammond said: “It’s implausible that in a no deal scenario the government wouldn’t do anything.”After setting out a possible collapse in the value of the pound and a rise in inflation, Hammond added: “The Bank’s normal monetary response to that would have to be to tighten monetary policy not loosen it. So I suspect that in that scenario the Bank of England would be looking firmly at the Treasury to respond through a fiscal policy response.” Philip Hammond has confirmed the government would be forced to borrow billions more and consider tax changes to counter the economic impact of no deal.Appearing before the Treasury Select Committee on Wednesday, the Chancellor said the onus would be on the government to keep blood in the veins of the economy as the Bank of England would be severely restricted in its actions.center_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableyUndoFinance Wealth PostTom Selleck’s Daughter Is Probably The Prettiest Woman To Ever ExistFinance Wealth PostUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverstUndo Share Labour MP Alison McGovern was frustrated the analyses given to the committee since Theresa May concluded her negotiations on the withdrawal deal took these moves into consideration.”You’re describing a situation that none of these reports that we’ve been provided with in order to advise our colleagues describe. We have been put in a slightly invidious position as a committee,” she said.Hammond admitted one of the reasons he was urging MPs to support May’s deal is that the country risked staying “mired” in the Brexit debate.“We have to move on as a nation,” he said.However, the Chancellor then added: “If the only proposal on the table was no deal exit which would cost us nearly 10% of our GDP according to this modelling I would take a different view.”City A.M. understands from sources close to the Chancellor that this was not a coded hint at support for a second referendum, and Hammond opposes another Brexit vote. Tags: Bank of England Brexit People Philip Hammond Tax Theresa Maylast_img read more

Manufacturers’ export hopes at their lowest since financial crisis, as Brexit limbo continues hampering industry

first_img Tags: Trading Archive Wednesday 23 January 2019 11:05 am Alex Daniel whatsapp whatsapp Tom Crotty, director of chemicals giant INEOS and chair of the CBI Manufacturing Council, said: “The last quarter has been a challenging one for manufacturers, who are understandably bracing themselves for the frightening prospect of a ‘no deal’ Brexit. Uncertainty has sadly become the norm, and this is holding back growth and investment in the manufacturing sector.“It is vital that the Government finds a positive solution to the current Brexit deadlock so firms can continue to compete both at home and abroad.” Manufacturers expect much the same level of growth in the next three months.The survey of 326 manufacturers showed optimism falling sharply, with 34 per cent of firms saying they were less optimistic about the general business situation than three months ago.Firms are worried political paralysis over Brexit and the resulting economic uncertainty will limit their future ability to obtain new business, with their concerns at the most acute level since the aftermath of the EU referendum.New orders inside the UK were unchanged over the past quarter, stabilising after a fall in the previous three months, which was the first decline in three years. While new export orders picked up after a fall in the three months to October, growth was “weak and well below the highs seen in mid-2018,” said the CBI.Overall order books remained strong, with export order books particularly robust, the trade body added.center_img Anna Leach, CBI head of economic intelligence, said: “The manufacturing sector is clearly feeling the pinch of Brexit uncertainty, with worsening business sentiment coinciding with an ongoing reluctance to invest in new facilities, machinery, innovation and training. Notwithstanding continued growth in output, these underwhelming figures in part reflect businesses’ continuing desire for clarity.”A quarter of respondents said employee numbers were down, with only 21 per cent saying they were up, giving a minus-four per cent balance, the first negative score since October 2016.The report follows news earlier this month that manufacturers are struggling with the worst drought of workers in 30 years, as fewer EU workers come into the country in the wake of the Brexit vote.Car makers and other industry bodies have repeatedly pleaded with Theresa May to provide clarity on how Britain will leave the EU, after months of political indecision has left industries in limbo.UK car sales fell for the second year running last year, according to the Society of Motor Manufacturers and Traders (SMMT), also driven by Brexit uncertainty. Manufacturers’ hopes for their export businesses are at their their lowest ebb since the 2008 global financial meltdown amid sustained Brexit uncertainty, according to the Confederation of British Industry (CBI).The organisation’s latest monthly Industrial Trends Survey said output grew slightly faster than the long-run average in the three months to January with a balance of 16 per cent saying it picked up. But this is still slower than in the three months to December, where the balance was 23 per cent positive. Manufacturers’ export hopes at their lowest since financial crisis, as Brexit limbo continues hampering industry Sharelast_img read more

Facebook tightens ad rules for EU political parties ahead of elections

first_img Facebook tightens ad rules for EU political parties ahead of elections whatsapp The social media giant has been under increasing scrutiny from regulators and lawmakers since it was revealed that Cambridge Analytica had improperly used Facebook data to target electoral advertising.All political ads will be stored in a searchable online library for up to seven years, with information including how much was spent, who paid for the ad and the demographics of those who saw them.Read more: Facebook launches UK fact-checking programme to fight fake newsThe tools will also cover so-called issue ads, which relate to controversial topics such as immigration and do not back a specific party.Facebook said it will set up regional operation centres in Dublin and Singapore to monitor its election-related content, designed to “add a layer of defence against fake news, hate speech and voter suppression”.Clegg denied reports that the tech firm had plans to launch a subscription-based service in the place of its existing ads-only business model. whatsapp Facebook plans to toughen up rules surrounding paid political advertising in order to prevent foreign interference in elections.In his first public appearance since winning the job in October, former UK deputy prime minister and now Facebook global policy chief Sir Nick Clegg told reporters in Brussels today that Facebook will require political parties to register as advertisers on the platform. Monday 28 January 2019 7:00 pm Share Emily Nicolle “We will require those wanting to run political and issue ads to be authorised, and we will display a ‘paid for by’ disclaimer on those ads,” said Clegg.The changes will go live before elections in the European parliament this spring.Read more: Facebook to toughen up rules on political ads in countries with major electionsFacebook later added it “has more than 30,000 people working on safety and security across the company, three times as many as we had in 2017”.It aims to expand these tools globally before the end of June. Tags: Facebooklast_img read more

Extinction Rebellion’s climate change protests blockades London roads for fourth day

first_imgParliament Square – and approaches remain closed. Traffic is slow moving southbound on Lambeth Palace Road and on approach to Lambeth Roundabout.— TfL Traffic News (@TfLTrafficNews) April 18, 2019Officers have made 340 arrests since Monday but Extinction Rebellion claimed police cells across London were now full, with the Met operating a one-in one-out policy. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comRussell Wilson, AOC among many voicing support for Naomi‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Thursday 18 April 2019 9:04 am Roads around Marble Arch were blocked by protesters (Source: Getty)Transport for London (TfL) this morning warned that Marble Arch remains closed to traffic as does Parliament Square, and Waterloo Bridge, where police have struggled to remove a protester blockade.Oxford Circus, where protesters have set up camp, also remains blocked, with commuters warned to “expect delays throughout the day”. whatsapp Protesters glued themselves to the fence outside Corbyn’s north London home (Source: Getty)Read more: Radical climate protestors are beginning to resemble a cultExtinction Rebellion’s demands include restricting air travel for emergency use only and for the UK economy to completely de-carbonise within six years. Londoners face another day of climate change protests today after action has so far cost businesses millions in lost revenue and disrupted key transport services.Read more: Protesters glue themselves to train at Canary Wharf station Extinction Rebellion’s climate change protests blockades London roads for fourth day New West End Company, which represents businesses in the area, urged London mayor Sadiq Khan to “take control” of the situation.Four protesters glued themselves to a fence outside Jeremy Corbyn’s north London home yesterday. One reportedly said: “He is [the] best hope this country has and we are hear to support him to go further.” Joe Curtis whatsapp Share Police removed three climate change protesters from a DLR train yesterday (Source: Getty)Yesterday police spent hours removing three protesters who glued themselves to a Docklands Light Railway (DLR) train at Canary Wharf station, causing disruption in the heart of the financial district.West End businesses also complained that the week’s action has cost them £12m in lost revenue. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerbonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyMisterStoryWoman files for divorce after seeing this photoMisterStory The Extinction Rebellion protest entered its fourth day this morning as organisers vowed they would not leave until the government meets its demands to de-carbonise the economy. Tags: Climate change Jeremy Corbyn People Transport for Londonlast_img read more

Out of the prison cell, into the workplace

first_imgTuesday 25 June 2019 5:42 am Will TannerWill Tanner is director of Onward. whatsapp We have been asked to give the candidates for the post of Prime Minister a chance at redemption. We should do the same for people in our prison system too. We propose Employment Councils of local business leaders in every prison and a nationwide Second Chances scheme to accredit enlightened employers who take a chance. At the same time, the number of prisoners on learning courses has fallen by 13 per cent over the last two years, and the number achieving GCSE-level qualification fell by two thirds between 2015/16 and 2016/17. The leadership contenders should begin with a longstanding Conservative truth: that the best way to lift up the vulnerable and help those with troubled life chances is by giving them the independence and security of a steady job. Most importantly, though, we need a sea change in the attitudes of employers. Our polling reveals that only a third of employers say they would employ an ex-offender, compared to half who would not, despite only one per cent of bosses surveyed having had a bad experience hiring one. Yet Britain’s prisons are failing in all but their most basic purpose. It is a well known but damning statistic that half of prisoners go on to commit another crime within a year of leaving prison, a figure that has barely moved in decades. Out of the prison cell, into the workplace No wonder the vast majority of prisoners leave custody with the literacy and numeracy levels of an 11-year-old. Less widely known is the fact that just 17 per cent of prisoners are in steady work a year after leaving the prison gate – despite the labour market being at full employment and vacancies at their highest in years. Sharecenter_img whatsapp Beyond the popular but reactive refrain of putting more bobbies on the beat, Boris Johnson and Jeremy Hunt have so far failed to spell out how they would curb rising criminality on Britain’s streets. Learning from countries such as Norway, whose prisoner employment rate is 34 per cent, Her Majesty’s Prison Service should require every prisoner to train or work for 40 hours a week, and track their progress from reception to release. So much for the traditional party of law and order. Analysis for the Ministry of Justice reveals that a steady job can cut reoffending risk by 20 percentage points for those leaving prison, and some international studies imply a reduction of as much as 38 percentage points. To transition from prison gate to job interview, ministers should help offenders gain experience while still behind bars, through new prisoner apprenticeships and an expansion of Release on Temporary Licence, where prisoners are allowed out during the day to work in the community. As my report for the think tank Onward sets out today, the answer is to turn prisons into centres of training and work – to give every ex-offender the opportunity of a decent, paid job after they leave. Crime is a top tier political issue for members of the public, but it has barely featured in the race for Number 10 Downing Street. NORWICH, UNITED KINGDOM – AUGUST 25: (EDITORS NOTE: IMAGES EMBARGOED FOR PUBLICATION UNTIL 0001GMT AUGUST 26, 2005) 19 year old inmate James looks out of the window of the Young Offenders Institution attached to Norwich Prison on August 25, 2005 in Norwich, England. A Chief Inspector of Prisons report on Norwich Prison says healthcare accommodation was among the worst seen, as prisoners suffered from unscreened toilets, little natural light, poor suicide prevention, inadequate education and training for long-term prisoners. (Photo by Peter Macdiarmid/Getty Images) A wealth of academic evidence shows the influence of employment in desistance from crime. Work offers the social relationships, financial stability, and sense of purpose that are critical for keeping people on the straight and narrow. The reality is that prisons have become holding pens of idleness and boredom – a fifth of prisoners spend fewer than two hours out of their cell every day. This principle runs through our welfare system; it must now be rooted in our criminal justice system too. last_img read more

Business confidence declines in London but firms look to hire

first_imgCompanies were marginally less confident about their business prospects and also reported less optimism about the state of the economy, according to the survey. Business confidence declines in London but firms look to hire “Across the region, a net balance of 23 per cent of businesses said they felt that the UK’s exit from the European Union was having a negative impact on their expectations for business activity, up five points on a month ago.” Hann-Ju Ho, senior economist at Lloyds Bank Commercial Banking, said national confidence levels were continuing to beat a dip seen in February “despite business confidence remaining below the long-term average and overall business confidence remaining unchanged this month”. LONDON, ENGLAND – JUNE 19: Hot air balloons over the London Skyline on June 19, 2016 in London, England. 46 balloons take to the air today as part of the annual Lord Mayor’s Hot Air Balloon Regatta, a charity event in aid of the Lord Mayor’s Fund. (Photo by Jack Taylor/Getty Images) Business confidence for firms in London fell in June, according to the latest business barometer from Lloyds Bank, but job creation plans nonetheless saw a significant uplift. Read more: Confidence among UK business leaders falls after months of gains More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the‘Neighbor from hell’ faces new charges after scaring off home Friday 2 August 2019 12:45 am Harry Robertson whatsappcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeUnderstand Solar$0 Down Solar in Scottsdale. How Much Can You Save? Try Our Free Solar Calculator Now.Understand SolarPsoriatic Arthritis | Search AdsWhat Is Psoriatic Arthritis? See Signs (Some Symptoms May Surprise)Psoriatic Arthritis | Search AdsLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthGraber BlindsWindow Treatments So Sophisticated, It’s Hard to Believe They’re so AffordableGraber Blindsbonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comBest Selling Grills | Search AdsTraeger Blaze & American Grills On SaleBest Selling Grills | Search AdsWolf & ShepherdNFL Star Rob Gronkowski Loves These ShoesWolf & ShepherdPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm Oracle Read more: Brexit warnings reach fever pitch as BMW and Ford sound the alarm Higher levels of pessimism brought the business confidence barometer to a score of 15, down from 18 in June. Share “Employment expectations still remain largely unchanged from last month, with only one-third of firms planning to increase their staff levels, compared with more than 40 per cent of firms last year, suggesting cautious business behaviour in the current economic environment.” whatsapp Yet businesses’ hiring intentions rose to a score of 25, meaning significantly more businesses in the capital expect to hire more staff in the coming year than expect not to. The figure is up from 17 seen in June. Paul Evans, regional director for London at Lloyds Bank Commercial Banking, said: “Although the capital’s businesses have seen another slight dip in confidence, the number looking to hire in the next year has grown sharply.”last_img read more

Tory manifesto: How will Johnson tax and spend?

first_imgRead more: General Election: Boris Johnson promises to ‘forge a new Britain’ post-Brexit The PM announced that he would review business rates and start by cutting them for retailers in 2020-21 in a giveaway worth £320m next year and £10m each year thereafter. According to the Conservatives’ sums, the party would increase day-to-day spending by £2.9bn a year by 2023-24, compared to an £82.9bn increase under Labour. This means for every pound the Tories promise to spend that year, Labour would spend £28.50. whatsapp Paul Johnson, director of the Institute for Fiscal Studies, criticised the policy, however. He said it was “part of a fundamentally damaging narrative – that we can have the public services we want, with more money for health and pensions and schools – without paying for them”. whatsapp Harry Robertson Sunday 24 November 2019 7:04 pm Instead, he unveiled a “triple tax lock” plan to freeze national insurance, income tax, and VAT. Steady approach The Tories said this extra revenue would more than offset tax cuts, which would cost the government £3.3bn a year on average, and spending increases, which would average out at £2.3bn extra a year. Nonetheless, the Conservatives sought to portray themselves as the party of economic credibility. Johnson said: “We are maintaining fiscal discipline… and we will keep debt coming down.” Prime Minister Boris Johnson has launched the Conservative manifesto with a pledge that he would increase spending by a fraction of Labour’s plans in a “sensible, moderate” approach to the economy.center_img Boris Johnson attacked Labour’s radical spending plans at the Conservative manifesto launch (Getty Images) Conservative manifesto: How will Boris Johnson tax and spend? The Tory party said today that it would also cut taxes – although not by as much as Johnson promised in the summer – and still be able to balance the books. Share The new money from the Conservatives comes on top of the more sizeable extra spending announced in September, however, which promised a £33.9bn boost for the NHS over the next four years among other policies. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyBetterBe20 Stunning Female AthletesBetterBeThe Chef PickElisabeth Shue, 57, Sends Fans Wild As She Flaunts Age-Defying FigureThe Chef Pickbonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutNews SharperChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoNews Sharper Revealing the manifesto in Telford, Shropshire, Johnson promised “tax-cutting One Nation Conservatism” but did not keep the promise he made during the Tory leadership election to cut taxes for higher earners, which experts said could cost £20bn. In a costing document released with the manifesto, chancellor Sajid Javid wrote that under the manifesto the Tories would stick to their new spending rule of having “the current budget in balance no later than the third year of the forecast period”. Read more: General Election: Conservatives surge in latest poll Johnson and co said they could do this thanks in large part to the scrapping of the planned corporation tax cut from 19 per cent to 17 per cent. This would make up the bulk of the £5.9bn extra revenue they on average expect to receive for the next four years. The majority of the extra spending will go on the NHS, with an extra £1.5bn a year on average over the next four years, mainly going towards putting 50,000 more nurses into the health service. This will add to the £33.9bn promised in September. The document also put specific figures to the tax and spend plans. The bulk of the tax cuts would come from the already announced rise in the national insurance contribution threshold to £9,500 next year. This would cost on average £2.3bn a year, the Tories said.last_img read more