BMW workers vote in favour of strikes at UK factories over final salary pension closure November 8, 2016 The number of Minis and Rolls-Royce cars rolling off the production lines in the UK could be considerably disrupted after thousands of workers balloted in favour of strike action. BMW, which owns the two iconic brands, is planning to close its UK final salary pension scheme. Read more: Unite ready to fight BMW over pension changes A raft of [...]
The UK economy will grow two per cent this year after growth slowed November 8, 2016 Economic growth in the UK stalled slightly in the three months to the end of October, falling from 0.5 per cent in the previous three months to 0.4 per cent. The closely-watched GDP estimate by the National Institute of Economic and Social Research (Niesr) said although consumer spending is robust at the moment, it expects [...]
UK industrial production fell unexpectedly in September – but manufacturing rose November 8, 2016 The UK's industrial production fell in September, despite economists expecting it to be flat – but manufacturing showed a rather rosier picture. Industrial production fell 0.4 per cent between August and September, the same fall as the month before. Year on year, the figure rose 0.3 per cent cent – although economists had hoped for a [...]
Now Deliveroo drivers are launching a bid for greater workers rights November 8, 2016 Drivers delivering food for restaurants through Deliveroo are seeking greater workers rights following a high-profile court case which handed Uber drivers worker status. A group of drivers has asked the startup to recognise the union and give it collective bargaining rights over issues such as pay and hours, the BBC reports. Read more: The government wants "flexibility [...]
Consumer spending grows at record levels during October November 8, 2016 Consumer spending rocketed during October with Britons splashing out on visits to the cinema and drinking sessions in the pub. Spending grew at the fastest recorded levels during October according to Barclaycard. The 5.5 per cent year on year increase was driven by 20.9 per cent growth in movie going and a 12.9 per cent increase in [...]
The Institute for Fiscal Studies says that reduced tax revenues will undermine hopes of a budgetary surplus in 2019 November 8, 2016 Britain's economic slowdown means that public finances will be £25bn worse off than previously thought and still in deficit by 2019. Lower growth forecasts mean Philip Hammond can expect to be nursing a Treasury deficit of £15bn, compared with the £10bn surplus George Osborne predicted in the Budget earlier this year, according to the Institute for [...]
Autumn Statement: Government has little room for giveaways November 8, 2016 In the early months of 1975, with Britain creaking out of recession, the government’s debt was equivalent to around 56 per cent of GDP. A year later, Harold Wilson was replaced as Prime Minister by James Callaghan who promptly went cap in hand to the IMF. Such was the parlous state of the UK’s economy, [...]
UK named as repair hub for F-35 jets in defence industry boost November 7, 2016 The UK has been named as a global repair hub for the F-35 fighter jet. The Ministry of Defence (MoD) said the hub would provide repair, overhaul, and upgrade services, and is expected to generate hundreds of millions of pounds for the industry. “This establishes Britain as a hub for all European F-35s and is [...]
Britain is embracing free trade just as the world turns to protectionism November 7, 2016 In pointed contrast to President Obama, Donald Trump has promised Britain that it will be at the front of the queue for a free trade deal should he triumph in today’s presidential election. Yet whether a President Trump, or indeed a President Clinton, would be minded to expend political capital on any trade deal has been thrown [...]
On economic policy, Trump is the bigger danger to both the US and the world November 7, 2016 The Western world is retreating from economic liberalism. Don’t take my word for it – look at the platforms of both Democrat Hillary Clinton and Republican Donald Trump ahead of today’s election. While a commitment to individual rights and a clear separation of powers has facilitated the conditions to maintain the US at the world’s [...]
