The policy aimed to tackle the problem of millions of small workplace pension pots being lost as workers change jobs, with employers instead paying into one portable pension pot which would be taken from one job to the next. The DWP published a call for evidence last November, but the proposal was widely criticized by … Read more
The chancellor made the remarks while speaking Thursday night at her first Mansion House event, where she also outlined reforms to boost the City of London by allowing extra risk in the U.K. financial system, among other policy maneuvers. Donald Trump won the U.S. election in a landslide last week, and has pledged to impose … Read more
The ratings agency affirmed France’s credit rating at Aa2, noting that this was supported by its “large, wealthy and diversified economy.” But it lowered the country’s outlook to negative from stable. “The fiscal deterioration that we have already seen is beyond our expectations and stands in contrast with governments in similarly rated countries that are … Read more
But in her next breath she warned that now isn’t the time for victory laps. Ever-rising debt levels and the splintering of global trade under the pressure of geopolitical rivalries have cast a long shadow over the meetings, which begin in earnest Tuesday. The uncertainty is only fueled by the wars raging in both Eastern … Read more
The standard playbook calls for a healthy dose of government spending that would inject money into the economy to fight the ongoing recession. In theory Berlin has plenty of fiscal room, with low debt compared to its European peers. But the rules it introduced — European and national — tie its hands. A slower rate … Read more
The only faction pushing for a mid-October start date was the center-right European People’s Party (EPP), home of Commission chief Ursula von der Leyen. However, the EPP was unable to gather enough support as lawmakers wanted to ensure they had enough time to scrutinize the commissioners-designate before the hearings. The CoP also agreed to limit … Read more
Macron tapped the former Brexit negotiator as premier in September in a bid to bring stability to France after a snap election this summer resulted in a hung parliament, but his appointment was met with fury by the left-wing alliance that won the most seats in that contest. Lawmakers from the left have vowed to … Read more
Cash for kids Income tax bands will be raised sharply to prune €1.6 billion from payslip deductions, particularly for workers earning less than €44,000 a year, in a system that already taxes lower-paid workers little by international norms. Chambers said the changes would mean workers earning less than €20,000 would pay no income tax at … Read more
Bernd Lange, the German MEP who heads the Conference of Committee Chairs (CCC), “will summarize” Tuesday’s discussion “and bring both proposals to CoP, highlighting a clear majority in CCC for November,” said two parliamentary officials with knowledge of the process, granted anonymity to speak freely. The only faction pushing for a mid-October start date is … Read more
Neil Amin-Smith Neil Amin-Smith | Frazer Harrison/Getty Images for GLAAD He’s a former popstar who’s now the main adviser on financial services policy for Chancellor Rachel Reeves. Neil Amin-Smith, the ex-violinist of chart-topping band Clean Bandit, is the key political person in the Treasury for City policy and for the party’s investment ambitions. He also … Read more
