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Pippa Crerar of The Guardian assesses the latest developments at Westminster. Pippa takes a closer look at Chancellor Rachel Reeves' Spending Review with the former Chief Secretary to the Treasury, Conservative MP John Glen and Labour's Dame Siobhain McDonagh, who sits on the Treasury Select Committee. How to prepare for an ageing society is the subject of an inquiry by the House of Lords Economic Affairs Committee and Pippa discusses this with Labour peer, Stewart Wood, who chairs the committee and Daily Telegraph columnist Annabel Denham. Pippa interviews the Big Issue founder and crossbench peer, John Bird about the scrapping of the 200-year-old Vagrancy Act which will decriminalise rough sleeping in England and Wales. And, following the government's u-turn on winter fuel this week, David Gauke who was a Treasury minister at the time of what became known as the omnishambles budget under George Osborne and former BBC presenter Carolyn Quinn discuss famous political u-turns.
Pippa Crerar assesses the latest developments at Westminster.The Chancellor Rachel Reeves unveiled her Spring Statement this week and Pippa takes a closer look at the details with the chair of the Treasury Select Committee, Labour's Dame Meg Hillier and the Conservative frontbencher and former Treasury minister, Dame Harriett Baldwin.Also this week, Keir Starmer travelled to Paris for the latest meeting of the ‘coalition of the willing'. Labour's Dame Emily Thornberry, who chairs the Foreign Affairs select committee discusses this with the Liberal Democrat MP Mike Martin, a former British army officer who served multiple tours in Afghanistan. Reform UK's deputy leader, Richard Tice, who represents Boston and Skegness and Times columnist Fraser Nelson discuss the party's coming electoral test in the local elections. And, following comments by the technology secretary Peter Kyle that the UK will see its first ever space launch this year, Pippa speaks to the physicist and broadcaster Professor Brian Cox about the benefits of space exploration.
Joining Iain Dale on Cross Question, following Chancellor Rachel Reeves' Spring Statement, are the Conservatives' Shadow Chief Secretary to the Treasury Richard Fuller, Labour MP and Treasury Select Committee chair Dame Meg Hillier, Bloomberg economics journalist Stephanie Flanders and the businessman and markets commentator David Buik.
Iain sits down with the Chancellor Rachel Reeves inside her Downing Street office for an exclusive interview, following her Spring Statement.Joining Iain Dale on Cross Question are the Conservatives' Shadow Chief Secretary to the Treasury Richard Fuller, Labour MP and Treasury Select Committee chair Dame Meg Hillier, Bloomberg economics journalist Stephanie Flanders and the businessman and markets commentator David Buik.
The Telegraph's Ben Riley-Smith assesses the latest developments at Westminster.Following a ceasefire deal in Gaza and the Prime Minister's trip to Ukraine, Ben speaks to former Conservative Defence Secretary, Sir Ben Wallace, and the Labour peer, Baroness Ashton, formerly the EU's foreign policy chief, about how the imminent second Trump presidency is already shaping global geopolitics.After another uncomfortable week for the Chancellor, Ben is joined by the Labour MP and chair of the Treasury Select Committee, Dame Meg Hillier, and former Conservative Treasury Minister, Sir Simon Clarke, to discuss the economic and fiscal outlook for the UK.Tech entrepreneur, Matt Clifford, who also advises the Prime Minister on artificial intelligence, explains how AI will change the country in the week the government unveiled his AI Action Plan.And, after the Government's decision to bring an early end to the Latin Excellence Programme, which funds the teaching of Latin in some state schools, Ben catches up with former Education Secretary, Sir Gavin Williamson, who introduced the policy, and Labour MP, Sarah Smith, who used to work in youth services and takes a special interest in education policy.
To discuss the increasingly fraught state of world affairs, Jack speaks to Sir David Liddington, who was deputy to Prime Minister Theresa May, and now chairs the defence and security think tank RUSI and the Labour MP and chair of the Foreign Affairs Select Committee, Emily Thornberry. As thousands of farmers attend a rally in Westminster to protest against last month's budget, Jack speaks to Labour MP, Jeevan Sandher, who sits on the Treasury Select Committee and the former Conservative MP and environment minister Rebecca Pow, who comes from a long line of farmers in Somerset. Children's rights campaigner and crossbench peer, Beeban Kidron discusses whether social media should be banned for under-16s. And to reflect on the life of John Prescott, who died this week, Jack speaks to two people who knew him well from his years in government, the associate editor of the Mirror, Kevin Maguire, and a former minister and chief whip in Tony Blair's government, Hilary Armstrong, who now sits in the House of Lords.
Caroline Wheeler of The Sunday Times assesses the latest developments at Westminster. Following the publication of the assisted dying bill, Caroline speaks to one of its supporters, the Labour MP and former surgeon, Peter Prinsley, and the palliative care expert and long-time campaigner against assisted dying, Baroness Ilora Finlay.To discuss what the election of Donald Trump means for the war in Ukraine, Caroline brings together the former Conservative Defence Secretary, Grant Shapps, and Nato's former Deputy Supreme Allied Commander in Europe, General Sir John McColl.Dale Vince, founder of the green energy company Ecotricity and one of Labour's biggest donors, discusses the COP29 summit in Azerbaijan and the UK's drive for net zero.And, as Donald Trump appoints Elon Musk to look at ways to cut trillions from US government spending, Caroline asks if the UK could benefit from a similar endeavour with Labour MP, and chair of the Treasury Select Committee, Meg Hillier, and the former Director General of the Institute of Economic Affairs, Mark Littlewood.
Sky News' deputy political editor Sam Coates and Politico's Jack Blanchard share their daily guide to the day ahead in politics in under 20 minutes.With everyone waking up to the possibility of a second Trump presidency in the US, how will the UK government react?There may be huge news across the pond, but Sir Keir Starmer also needs to focus on the House of Commons today as he faces Kemi Badenoch in her first PMQs as the new leader of the Opposition. Jack and Sam predict what her style might be, and how the prime minister will fare up against her.Plus, the chancellor faces a grilling at the Treasury Select Committee when it goes through her tax raising budget. You can send a WhatsApp to Jack and Sam on 07511 867 633 or email them: jackandsam@sky.uk
After the most consequential Budget in more than a decade, Labour MP Chris Curtis, vice-chair of the Labour Growth Group, Mel Stride, former Treasury minister and ex-chair of the Treasury Select Committee, join host Alain Tolhurst and two top think tank economists; Isabel Stockton, Senior Research Economist at the Institute for Fiscal Studies, and James Smith, Research Director at the Resolution Foundation, to discuss if it will help Rachel Reeves and Keir Starmer reach their goal of delivering economic growth back to the UK. There's also an with Lord Jon Moynihan, Conservative peer and author of the new book ‘Return to Growth', about whether the Chancellor is on the right track or not. To sign up for our newsletters click here Presented by Alain Tolhurst, produced by Nick Hilton and edited by Ewan Cameron for Podot
Hello, and welcome to episode 108 of the Financial Crime Weekly Podcast, I'm Chris Kirkbride. A busy week this week, but they are all busy weeks. New designations and guidance issued by OFSI in the UK, and new designations directed at Russia, Sudan, and North Korea. On bribery, action taken against the political and military establishments in Ukraine and Russia from OFAC in the US. A host of money laundering news, including a new strategy report on terrorist and illicit financing from the US Treasury. Action against finfluencers in the UK for promoting CFD while not authorised to do so, and a round-up of this week's cyber-attack news. Let's crack on. As usual, I have linked the main stories flagged in the podcast in the description. These are: Federal Register, Reporting, Procedures and Penalties Regulations.Financial Action Task Force, Urgent action needed to fight money laundering and terrorist financing, say Heads of FATF, INTERPOL and UNODC.Financial Conduct Authority, Stuart Bayes sentenced for insider dealing.Financial Conduct Authority, Three charged over CFD trading pension fraud.Financial Conduct Authority, 'Finfluencers' charged for promoting unauthorised trading scheme.Financial Transactions and Reports Analysis Centre of Canada, FINTRAC imposes an administrative monetary penalty on Binance Holdings Limited.Home Office, Circular 022/2015: Money laundering: the confidentiality and sensitivity of suspicious activity reports (SARs) and the identity of those who make them.House of Commons' Justice Committee, Work of the Serious Fraud Office - Oral evidence (recording).Information Commissioner's Office, Organisations must do more to combat the growing threat of cyber attacks.Information Commissioner's Office, Learning from the mistakes of others – A retrospective review.INTERPOL, Urgent cooperation needed to fight money laundering and terrorist financing.Law Commission, Annual Report 2023-24.National Cyber Security Centre, Guidance for organisations considering payment in ransomware incidents.National Cyber Security Centre, NCSC ramps up support for those at high risk of cyber attacks ahead of election.Office of Financial Sanctions Implementation, Financial sanctions general guidance amended.Office of Financial Sanctions Implementation, Guidance: OFSI General Licence INT/2022/1839676.Office of Financial Sanctions Implementation, Notice: General Licence – Russian Travel INT/2022/1839676.Office of Financial Sanctions Implementation, UK financial sanctions general guidance.Office of Financial Sanctions Implementation, Financial sanctions guidance for Russia.Office of Financial Sanctions Implementation, Counter-Terrorism sanctions: guidance.Office of Financial Sanctions Implementation, Financial sanctions enforcement and monetary penalties guidance.Office of Financial Sanctions Implementation, Guidance: Reporting information to OFSI – what to do.Office of Financial Sanctions Implementation, Financial Sanctions Notice: Democratic People's Republic of Korea.Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.Office of Financial Sanctions Implementation, Guidance: Financial sanctions, Democratic Republic of the Congo.Office of Financial Sanctions Implementation, Guidance: Financial sanctions, ISIL (Da'esh) and Al-Qaida organisations.Office of Foreign Assets Control, U.S. Exposes Attempted Sanctions Evasion Scheme Connected to Russian Oligarch.Office of Foreign Assets Control, Treasury Sanctions Sudanese Rapid Support Forces Commanders Expanding War.Office of Foreign Assets Control, Treasury Sanctions Nicaragua-Based Russian Institution and Gold Companies.Office of Foreign Assets Control, Treasury Designates Sanctions Evaders Facilitating Illicit Arms Transfers between the DPRK and Russia.Politico, EU prosecutors threaten to sue Commission in spending spat.Treasury Select Committee, Are the UK's Russian financial sanctions working? – Oral evidence.United National Office on Drugs and Crime, Urgent action needed to fight money laundering and terrorist financing, say heads of FATF, INTERPOL and UNODC.US Department of Justice, U.S. Law Enforcement Takes Action Against More Than 3,000 Money Mules in Initiative to Disrupt Transnational Fraud Schemes.US Department of State, Imposing Sanctions in Response to DPRK-Russia Weapon Deals.US Department of the Treasury, Treasury Announces 2024 National Illicit Finance Strategy.
Tom Blenkinsop was born in Middlesbrough, brought-up in Marton and graduated from Teesside University with a BSc in Philosophy, Politics and Economics, and the University of Warwick with an MA in Continental philosophy.Tom joined the Army Reserve in 2017 in the Royal Military Police in which he still serves today, and was an MP whilst training to be an RMP, something we explore in this episode.Tom worked as a constituency researcher for Ashok Kumar, Labour MP for Middlesbrough South and East Cleveland, from 2002 to 2008. He became a campaign manager for the Community Trade Union in 2008 and continued in the role until his election to Parliament in 2010.Tom was selected as the Labour candidate for Middlesbrough South and East Cleveland in April 2010, following Ashok Kumar's unexpected death the previous month. He was elected at the May 2010 general election. In his first Parliamentary term, he was a member of the Environment, Food and Rural Affairs Select Committee from 2010 to 2012, the Standards and Privileges Committee from 2010 to 2011 and the Treasury Select Committee in 2011. He joined the opposition front bench under the leadership of Ed Miliband, serving as a whip from 2011 to 2015.He was re-elected at the 2015 general election. During his second Parliamentary term, he was a member of the Energy and Climate Change Committee from 2015 to 2016, the Privileges Committee from 2015 to 2017, the Standards Committee from 2015 to 2017, and the Northern Ireland Affairs Committee from 2016 to 2017.After the calling of the 2017 general election, Blenkinsop announced that we would not seek re-election as an MP as he could not campaign for Labour whilst Corbyn served as party leader. Again, this is something we discuss at length in the podcast.Blenkinsop returned to the Community union as a London-based project manager after leaving Parliament, and became a public affairs advisor for the Federation of Small Business in 2020. We thank Tom for sharing his story with us!Support the show✅Support The Show Help Us Grow! Help us reach more veterans by donating the cost of a cup of coffee today...
The question of how to reform the House of Lords dominates discussions about the upper house, with less attention focused on its day-to-day activities. Since his election as Lord Speaker in 2021, Lord McFall of Alcluith has sought to champion its important role of revising legislation and advising the government, while ensuring the Lords remains on the path of modernisation. Lord McFall has focused on parliamentary outreach and prioritised communicating the value of the House of Lords externally, bringing the devolved parliaments and Westminster closer. He has also worked with schools and universities, and launched a podcast, to demystify the upper house. What are public perceptions of the upper chamber and how have they changed? How has the Lords changed its ways of working? What kinds of links does it have with the devolved parliaments? And what might all of this mean for discussions about reform of the Lords? Lord McFall addressed these questions and more in a keynote speech at the Institute for Government, before taking part in a discussion with the IfG's Director Dr Hannah White and an audience Q&A. Lord McFall of Alcluith became Lord Speaker in 2021, having served as senior deputy speaker for five years. He entered the Lords in 2010 after spending 23 years in the Commons as Labour MP for Dumbarton and later West Dumbartonshire. There, he served as a minister in the Northern Ireland Office, a government whip, and chaired the Treasury Select Committee between 2001 and 2010, including during the global financial crisis. Before entering politics, Lord McFall worked for over a decade as a teacher.
The question of how to reform the House of Lords dominates discussions about the upper house, with less attention focused on its day-to-day activities. Since his election as Lord Speaker in 2021, Lord McFall of Alcluith has sought to champion its important role of revising legislation and advising the government, while ensuring the Lords remains on the path of modernisation. Lord McFall has focused on parliamentary outreach and prioritised communicating the value of the House of Lords externally, bringing the devolved parliaments and Westminster closer. He has also worked with schools and universities, and launched a podcast, to demystify the upper house. What are public perceptions of the upper chamber and how have they changed? How has the Lords changed its ways of working? What kinds of links does it have with the devolved parliaments? And what might all of this mean for discussions about reform of the Lords? Lord McFall addressed these questions and more in a keynote speech at the Institute for Government, before taking part in a discussion with the IfG's Director Dr Hannah White and an audience Q&A. Follow us on X (formerly known as Twitter) @IfGEvents and join the conversation using #lordspeaker. Lord McFall of Alcluith became Lord Speaker in 2021, having served as senior deputy speaker for five years. He entered the Lords in 2010 after spending 23 years in the Commons as Labour MP for Dumbarton and later West Dumbartonshire. There, he served as a minister in the Northern Ireland Office, a government whip, and chaired the Treasury Select Committee between 2001 and 2010, including during the global financial crisis. Before entering politics, Lord McFall worked for over a decade as a teacher. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Hundreds of doctors - led by campaign group Long Covid Doctors for Action - are planning to sue the NHS over claims that inadequate PPE provision has left them with Long Covid, according to Sky News. One of those, Dr Nathalie MacDermott, joins Emma Barnett to discuss it. Emma is joined by the rapper Princess Superstar who, after a 30-year career, has finally hit the big time following her song, Perfect, featuring on the soundtrack for the blockbuster film Saltburn. Ahead of Holocaust Memorial Day, we speak to three Jewish women - one, a survivor who was born in a concentration camp - about how you keep teaching the lessons of the Holocaust as fewer and fewer survivors are around to tell their stories. The Chancellor Jeremy Hunt is facing pressure to fix "unfair" child benefit rules. Campaigners like Martin Lewis have called for it to be a focus of the Budget in March as he says single income families are being penalised. Emma talks to the chair of the Treasury Select Committee, the Conservative MP Harriet Baldwin, and Tom Waters from the Institute for Fiscal Studies.Presenter: Emma Barnett Producer: Emma Pearce
Hello, and welcome to episode 87 of the Financial Crime Weekly Podcast, I'm Chris Kirkbride. Now, I thought previous weeks had been busy and that things would ease down as we got deeper into December, but it is almost as if things are sent deliberately to try us, for this has been a massive week for financial crime. Get set for the longest episode ever, with all aspects of financial crime pumping out stories. As usual, I have linked the main stories flagged in the podcast in the description. These are: Aviva, One in five businesses have been victims of cyber attack in the last year.Competition and Markets Authority, CMA cracks down on more supermarket land agreements to protect shoppers.Council of the European Union, EU Global Human Rights Sanctions Regime: restrictive measures prolonged.Crown Prosecution Service, Shropshire man jailed for £1.9 m cheque fraud after plea agreement.Crown Prosecution Service, First ever CPS deferred prosecution agreement for £615 million.Crown Prosecution Service, Entain DPA and court summary judgment.Department of Justice, Baton Rouge Woman Sentenced to 48 Months in Federal Prison for Defrauding the PPP and EIDL Loan Programs and Laundering the Fraudulent Proceeds.Department of Justice, Man Charged in $148M Medicare and Medicaid Fraud Scheme.Department of Justice, Doctor Charged in $14M Medicare and TRICARE Fraud Scheme.Department of Justice, Five persons sentenced to federal prison in international drug and money laundering operation.Drepartment of Justice, Swiss Private Bank, Banque Pictet, Admits to Conspiring with U.S. Taxpayers to Hide Assets and Income in Offshore Accounts.Department of Justice, Former IRS Employee Pleads Guilty to Money Laundering in Connection with COVID-19 Fraud.Department of Justice, Founder and Majority Owner of Cryptocurrency Exchange Pleads Guilty to Unlicensed Money Transmitting.Department of Justice, Former City Commissioner Sentenced for Role in Bribery Conspiracy.Department of State, Designation of North Macedonia Public Official Kocho Angjushev for Significant Corruption.Department of State, U.S. Department of State Announces Reward Offer for Information Leading to the Arrest and/or Conviction of Russian National Accused of Sanctions Evasion.Department of the Treasury, Treasury Sanctions Former Guatemalan Government Official for Engaging in Public Corruption.Department of the Treasury, Treasury Targets DPRK's International Agents and Illicit Cyber Intrusion Group.European Parliament, Protection of EU funds: EU should do more to detect, prevent and recover frauds.European Payments Council, Yearly update of the “Payment Threats and Fraud Trends Report”.Europol, 11 olive oil counterfeiters arrested following Operation OPSON.Europol, Paper trail ends in jail time for 1,013 money mules.Financial Conduct Authority, FCA commences criminal proceedings against brothers for insider dealing and fraud.Financial Transactions and Reports Analysis Centre of Canada, FINTRAC imposes an administrative monetary penalty on the Royal Bank of Canada.Gambling Commission, New online confidential reporting service launched.HM Treasury, Guidance: HM Treasury Advisory Notice: High Risk Third Countries.Insolvency Service, London-based builder sentenced for Covid loan abuse.Institute of Chartered Accountants in England and Wales, Why fighting corruption is key to good governance.International Monetary Fund, 2023 Review of The Fund's Anti-Money Laundering and Combating The Financing of Terrorism Strategy.International Monetary Fund, Financial Crimes Hurt Economies and Must be Better Understood and Curbed.International Regulatory Strategy Group, Anti-money laundering and beneficial ownership.National Crime Agency, Red ALERT: Exporting High Risk Goods.Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia (06/12/2023).Office of Financial Sanctions Implementation, Financial Sanctions Notice: Belarus (06/12/2023).Office of Financial Sanctions Implementation, Financial Sanctions Notice: Cyber.Office of Financial Sanctions Implementation, Guidance: Financial sanctions, Cyber.Office of Financial Sanctions Implementation, Guidance: Who is subject to financial sanctions in the UK?Office of Financial Sanctions Implementation, General Licence: Payments to Local Authorities INT/2023/3781228.Office of the Comptroller of the Currency, Semiannual Risk Perspective for Fall 2023.Royal Canadian Mounted Police, Money laundering through cryptocurrency uncovered in RCMP's Project Decrypt.Securities and Exchange Commission, SEC Charges Five Unregistered Brokers, Four Companies in Widespread Pre-IPO Fraud Scheme.Serious Fraud Office, SFO launches criminal investigation into global aviation supplier with dawn raid in London.Spotlight on Corruption, Regulating the accountancy profession for money laundering – is business as usual working?The Guardian, More than 870 Australian federal public servants acted corruptly over six years, investigation finds.Transparency International, How Enablers Facilitate Illicit Financial Flows: Evidence from Africa.Treasury Select Committee, Letter from FCA to Treasury Select Committee concerning Blackmore mini-bonds.UK government, UK exposes attempted Russian cyber interference in politics and democratic processes.UK government, World first agreement to tackle online fraud.UK government, Online Fraud Charter.UK legislation, The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No. 2) Regulations 2023 SI No 1306.US Immigration and Customs Enforcement, Texas man who created fake church to fraudulently obtain fake car, COVID-19 loans sentenced to over 8 years in prison.
The Conservatives seem unable to escape their party splits on migration. Despite "taking back control" of UK borders being central to the Brexit campaign, net migration figures have hit record highs. After a week where political wrangling over migration has thrown Rishi Sunak's premiership into peril, we ask economics professor and UK in a Changing Europe senior fellow, Jonathan Portes, about what the statistics tell us and why this issue continues to have such prominence. Plus: the Treasury Select Committee calls the government's flagship financial reforms a "damp squib". Our reporter Tom Rees tells us why. Hosted by Caroline Hepker and Stephen Carroll. See omnystudio.com/listener for privacy information.
The economy is set to be a defining feature of the run in to next General Election. Inflation is falling, but so too is consumer confidence. Tax revenues are going up, but NHS waiting lists aren't coming down. In the Autumn Statement the Chancellor will be navigating these short-term challenges, but also addressing longer-term questions about Britain's weak growth and strained public finances. What is the latest outlook for the UK economy ahead of the General Election next year? To what extent did the Chancellor balance pressure on the public finances with political pressure to please voters? How might the Chancellor's decisions improve economic growth or boost living standards? And what does the likely penultimate fiscal event before the UK goes to the polls tell us about the economic battleground that the next General Election will be fought over? The morning after the Autumn Statement, the Resolution Foundation is hosting an event to discuss these issues and more. Following a presentation from Foundation staff of their overnight analysis of the Autumn Statement, we will hear from experts including the chairs of both the Treasury Select Committee and the Office for Budget Responsibility. Read the report: https://www.resolutionfoundation.org/publications/a-pre-election-statement/ View the event slides: https://www.resolutionfoundation.org/events/autumn-statement-watch/
Every child could receive a pot of £1,000 at birth to be channelled into long-term investments in UK growth under proposals to give the young a leg up and revive a ‘stagnant' economy. The idea of a ‘New Generation Trust' is part of a package of reforms that could add £225billion to the economy, says a report by the City of London Corporation. A £1,000 payment to all newborn children would need to be invested - and it is claimed this could provide long-term capital for UK PLC. It revives memories of the Child Trust Fund scheme launched by Gordon Brown two decades ago, and later scrapped by George Osborne – and that hasn't exactly been a roaring success. This week, Lee Boyce, Simon Lambert and Georgie Frost discuss the merits of the idea – and why whether this happens or not parents should start building a pot for children as early as possible. It's been another exciting week for savings – Santander has a new best buy easy-access deal, Moneybox has launched a top cash Isa and First Direct is offering five prizes of £12,500 for those who switch current account – including a £175 bonus for doing so. Bank of England governor Andrew Bailey has been speaking in front of MPs at the Treasury Select Committee about base rate – are we close to the peak? House prices saw their biggest slump since 2009 according to Halifax, with the average home falls £14,000 in a year – chiming with similar data from Nationwide. And finally, electric cars are slumping in value – many models have lost 30 per cent or more in a year. Is now the time to buy, and what on earth is going on?
It can be dispiriting that six years after the #MeToo movement went viral, alleged office sexual predators continue to be unmasked by the media – including the recent FT exposés of hedge fund manager Crispin Odey, and of star architect David Adjaye, both of whom dispute the allegations against them. In this episode, host Isabel Berwick speaks to her colleague Madison Marriage, who led the Odey investigation, about how hard it can be to get victims to come forward. Meanwhile FT business columnist Helen Thomas explains why she thinks these high profile cases are causing a sea change in corporate culture. Plus, Isabel speaks to Tessa West, professor of psychology at New York University and author of Jerks at Work – Toxic Co-workers and What to Do About Them, about how to fend off unwanted advances.Want more?Latest on the FT's investigations into Crispin Odey and David AdjayeYou can watch our video documentary Crispin Odey: the fall of a hedge fund maverick from this Thursday, July 20.The UK parliament's Treasury Select Committee is inviting people to submit evidence by September 1 towards its investigation into sexism and misogyny in the financial services industry.FT subscriber? Sign up for the weekly Working It newsletter with one click here. We cover all things workplace and management — plus exclusive reporting on trends, tips and what's coming next. We'd love to hear from you. What do you like (or not)? What topics should we tackle? Email the team at workingit@ft.com or Isabel directly at isabel.berwick@ft.com. Follow Isabel on LinkedInOn Twitter, you can follow Isabel at @IsabelBerwick, as well as Madison Marriage at @miss_marriage and Helen Thomas at @helentbizSubscribe to Working It wherever you get your podcasts — and do leave us a review!Presented by Isabel Berwick. Produced by Laurence Knight. The executive producer is Manuela Saragosa and the sound engineer is Simon Panayi.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
The Treasury Select Committee of MPs has called the current UK tax system an "obstacle to economic dynamism," calling for greater scrutiny of the government's programme of tax simplification. Felicity Hannah speaks to a business owner about their experiences. Our panel of the brightest minds in economics, investments and business returns to look back at the big stories of the week, including mortgages, interest rates, and the proposed Vodafone-Three merger. Plus, having consumed millions of tins of baked beans every week for years, could the UK soon provide its own? The farmer hoping to be the first to grow the haricot bean in the UK talks to Felicity.
At the close of the Bank of England's consultation on the Digital Pound Barry interviews Danny Kruger MP, of the UK Parliament's Treasury Select Committee, who oversee the project, discussed the deep implications of central bank digital currencies (CBDCs) on financial stability and liberty. While Danny expressed concerns about the potential negative effects, he acknowledged that he and his colleagues on the Treasury Select Committee were not experts on the topic and that there was a general perception that CBDCs were a natural evolution of the digital revolution. Barry and Danny discussed the need for serious consideration at the legislative level regarding the introduction of a digital pound, as it could have implications for financial and economic stability. They also expressed concern about the lack of public engagement from the Bank of England's consultation and emphasized the importance of government and parliament's role in making decisions about the use of a digital pound. Danny and Barry discussed the potential risks and dangers of a Central Bank Digital Currency (CBDC). They also discussed the need for greater attention and a new institution to ensure transparency and accountability in the use of CBDCs - the potential benefits of a digital money commissioner, with Danny saying "Yes, I do. I think that is a good suggestion, a digital commissioner of some sort" Danny congratulated Barry on raising the debate and they talked about working together to continue raising the debate towards creating the needed structures and safeguards for the future. Quotes include: "China is going full ahead. That in itself should cause us to pause and think about what we're doing." Q. James: “This seems to me something akin to rewriting part of a constitution, in the sense that it will live with us for generations to come. Do you feel that the Treasury Select Committee is… replete [with all it needs]? Kruger: No, not to approach the topic in that sense. No, definitely not. Nor should it be. I mean, if it's a constitutional question, that's not for the Treasury Select Committee. They're particularly focused on the Treasury's remit, which is to grow the economy, and to maintain stability and so on.” "We need to remain at the cutting edge of financial technology and market developments [but…] “The UK should not adopt a digital currency simply because other nations are doing so." "The case for a retail CBDC, in answer to your question, I don't think has yet been made. It does have the sense of a solution looking for a problem." “There's a financial stability question. And then the other [that's] more obvious and pertinent is liberty. What does it mean for you and me if we are being encouraged, or at what points does it become required, to hold our wealth in this new form? And what powers does government have to oversee these transactions? “Obviously they [governments] make a strong case that they wouldn't assume that power. But once the technology exists you can see the way that a crisis comes along, as it did for the Canadian government when they were besieged in Ottawa by a lot of angry anti-COVID truckers, they reach for the levers that are available to them.” These technical, technological, innovations are not neutral… By creating the thing, you put the country on a path to making use of it… But fundamentally it'll be for Parliament, not even government, [to decide] because Parliament would have to pass legislation for this… and I worry that we don't have the political culture and that we're not asking the right questions at the moment to ensure that that's what happens. “You also need distribution and individual liberty. And it might be that, as you suggest, some sort of statutory commissioner who has some meaningful sort of agency in the world of information and financial information could be the necessary stabilising influence [providing] the sense of security that the system needs so we can have a more genuinely distributed arrangement whereby people might well be holding their wealth in these innovative different forms” They said to us the introduction of a digital pound will not, in itself, increase the reduction in the use of cash when, of course, it will. It's unthinkable that it wouldn't. This will further squeeze cash out of the system. "It's unthinkable that it wouldn't. This will further squeeze cash out of the system." -
The Bank of England again finds its independence under threat as the Government apparently wanted the new member of the Monetary Policy Committee to be from the Treasury. Governor Andrew Bailey held firm in discussions with the Prime Minister and Chancellor of the Exchequer after it was agreed that Silvana Tenreyro would leave her role in two months' time. It was agreed that the new member of the Committee should be Megan Greene, a candidate who is well known in the City as the Chief Global Economist of U.S. private investigations and advisory firm Kroll. Bailey disagreed in principle with Jeremy Hunt over the appointment of Tenreyro's replacement since he believed that it would send the wrong message to the markets. It was felt that his reporting of MPC decisions and his responsibility for testifying before the Treasury Select Committee could be second guessed by a member who has dual loyalties. While the domestic housing market continues to falter, there was more bad news for the sector from commercial real estate which has seen a slump in activity as the economy continues to weaken. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.
The UK has gone through four Chancellors, three Prime Ministers and entered a cost-of-living crisis in 500 days since the last Budget way back in October 2021. On 15 March, Jeremy Hunt will unveil his first Budget, hoping to signpost the UK economy's way towards a new, calmer, phase of lower inflation and higher growth. To that end, concrete steps to encourage people to remain in the workforce and firms to invest will be up in lights. Recent months have brought good news for the public finances, but the public face the prospect of rising energy bills and inflation that will continue to outstrip wage growth for some time to come. How has recent good news, from falling European gas prices to lower than expected borrowing, fed through into permanent improvements to the economic and fiscal outlook? Where does Budget 2023 leave the cost-of-living crisis families are facing, including rising energy bills and widespread industrial strife across the public sector? Will the policies announced help to boost employment or investment – and therefore growth? And what does Budget 2023 tell us about the economic battleground that the next General Election will be fought over? The morning after the Spring Budget, the Resolution Foundation is hosting an event to discuss these issues and more. Following a presentation from Foundation staff of their overnight analysis of the Budget, we will hear from the chairs of both the Treasury Select Committee and the Office for Budget Responsibility. Read the report: https://www.resolutionfoundation.org/publications/were-going-on-a-growth-hunt/ View the event slides: https://www.resolutionfoundation.org/events/into-calmer-waters/
The charity Citizens Advice says it's seen a sharp rise in the number of working people accessing crisis support in the past few years. In 2022, of the 200,000 people helped with a food bank voucher or an emergency grant, almost 24,000 - about 1 in 8 of them - worked. That figure was up more than double the number in 2020. We'll speak to Citizens Advice and get a response from the government. We'll hear from Harriett Baldwin, the Chair of the Treasury Select Committee, on how she wants banks to stop dragging their feet when it comes to implementing changes designed to stop people from becoming victims of push payment fraud. UK Finance, which speaks for banks, says the industry is investing billions to try to keep customers' money safe and is working on plans to slow down certain high-risk payments to prevent fraud. From this week unmarried parents whose partner dies can claim bereavement support payment worth up to £9800. We reported a few weeks ago that the change was coming and this week the application process has opened. Anyone who thinks they should be eligible can now put in a claim online via gov.uk, over the phone or using a paper application form. More details here: www.gov.uk/bereavement-support-payment and from the charities Child Bereavement Network (https://childhoodbereavementnetwork.org.uk/) and Widowed and Young (https://www.widowedandyoung.org.uk/). And we'll discuss what GDP means for our personal finance with Diane Coyle, Bennett Professor of Public Policy at the University of Cambridge and a former advisor to the UK Treasury. Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Eimear Devlin and Jo Krasner Editor: Jess Quayle (First broadcast 12pm Saturday 11th Feb, 2023)
Brooks Newmark is co-founder of Angels for Ukraine. He is serving on the scene, organizing the safekeeping and relocation of thousands of women and children amid the devastation unleashed by the Russian invasion that began on February 24, 2022.In this episode of the Serve to Lead podcast, Newmark discusses his experiences on the scene in Ukraine. He also shares the process by which he became determined to put himself in harm's way for others in dire circumstances. One can recognize Newmark as a spiritual descendant of Oskar Schindler, Raoul Wallenberg and others who have given their all to save those who face war and genocide.Brooks Newmark is well-known and respected as a businessman, philanthropist, politician, and social reform campaigner. He was the Member of Parliament for Braintree (2005-15). He served in the Coalition Government as Minister for Civil Society, with responsibility for charities, the voluntary sector and youth (2014) having previously served on the Treasury Select Committee (2012-14 and 2006-7) and as a Government Whip and Lord Commissioner HM Treasury (2010-12). In Opposition he also served as a Whip (2007-10).The Next Nationalism is a reader-supported publication. To receive new posts and support the work, consider becoming a free or paid subscriber.Angels for Ukraine in the News—”How ex-Tory MP inspired by Schindler saved 15,000 Ukrainians from the Russians, Christopher Hope and Louisa Wells, The Telegraph, January 5, 2023.—”Saving Lives in Ukraine,” Gordon F. Sander, Harvard Magazine, September 13 , 2022.—”How my family's Holocaust history led me to rescue thousands of Ukrainians,” Brooks Newmark, The Jewish Chronicle, May 12, 2022.—BBC Essex: “Former MP helps 21,000 Ukrainian refugees,” Brooks Newmark Interview with Ben Fryer.—”Brooks Newmark: Our Man in Ukraine,” Olenka Hamilton, Catholic Herald, May 18, 2022.—”Angels for Ukraine will support the country for as long as it takes,” Brooks Newmark, The House, October 22, 2022.Resources—Learn and Donate: Angels for Ukraine—BrooksNewmark.com—Twitter: @brooksnewmark—Twitter: @ukrainesangels—Facebook: Brooks Newmark—LinkedIn: Brooks NewmarkImage Credits | Brooks Newmark, Facebook, Twitter. Get full access to The Next Nationalism at jamesstrock.substack.com/subscribe
Labour leader Keir Starmer is in attack mode at this week's PMQs, pushing the Prime Minister on what he's doing to resolve the wave of industrial action, and in particular the looming strike by nurses. Bloomberg's Stephen Carroll and Yuan Potts listen in. Plus, we ask the new chair of the Treasury Select Committee, Harriett Baldwin, why she's concerned about the government's cost of living support plans. See omnystudio.com/listener for privacy information.
Support for UK households struggling with sky-high energy bills may be contributing to labor shortages by discouraging people from seeking work, according to an assessment by the Treasury Select Committee. Its chair, Harriett Baldwin, tells Bloomberg's Tom Mackenzie and Lizzy Burden why she thinks the system needs to change. She also revealed that the IMF has declined to speak to UK lawmakers over its intervention on Kwasi Kwarteng's mini-budget.See omnystudio.com/listener for privacy information.
UK Trade Secretary Kemi Badenoch tells Bloomberg the OBR has never been quite right. We hear from her interview with Bloomberg's Lizzy Burden. Plus, neither Caroline Hepker nor Yuan Potts have been to the ITV jungle, but Lembit Opik has. The former MP and 'I'm Celebrity Get Me Out Of Here' contestant tells us why his friend the former Health Secretary Matt Hancock has decided to go on reality TV. Treasury Select Committee member Harriett Baldwin joins for a conversation about the UK economy and her bid for Treasury select committee chair. See omnystudio.com/listener for privacy information.
As the fallout to the Chancellor's mini-budget continues, Ian King's joined by the Financial Times' global pensions correspondent Josephine Cumbo, the Sunday Times' associate editor Oliver Shah and Paul Dails – the UK chief economist at Capital Economics – to discuss the Bank of England's latest moves, and an unexpected drop in GDP during August.We also drop into the Treasury Select Committee to hear what industry experts think of the current situation (with Paul Johnson, Director of the Institute for Fiscal Studies and Professor Jagjit Chadha, Director of the National Institute of Economic and Social Research) and look at consumer confidence with PwC's Lisa Hooker.Ian also speaks to Dr Hemmel Amrania, who talks about a new breast cancer diagnosis tool.
The Chancellor, Kwasi Kwarteng, is set to bring forward his fiscal forecasts to calm the turmoil on financial markets. Chair of the Treasury Select Committee, Mel Stride, tells us he welcomes the move, and that it's "conceivable" there could be another U-turn on uprating welfare payments in line with inflation. Also at the Conservative Party conference, Justice Minister Rachel Maclean tells Bloomberg's Caroline Hepker, a "sensible approach to the public finances" is needed. See omnystudio.com/listener for privacy information.
Anthony Browne, Conservative MP and member of the Treasury Select Committee, says the Chancellor Kwasi Kwarteng "did the job" in his speech to the party conference on Monday, addressing the government U-turn on scrapping the top rate of income tax. On the issue of increasing welfare payments in line with inflation, he told Bloomberg's Caroline Hepker that no decision had been made yet, but he feels "uncomfortable uprating, or balancing the books, on the backs on the lowest paid".See omnystudio.com/listener for privacy information.
Prime Minister Liz Truss and Chancellor Kwasi Kwarteng are set to meet with the head of the Office for Budget Responsibility, known as the OBR and the country's independent forecaster, to discuss the situation. One of the reasons the markets reacted so badly to the chancellor's tax cutting plans released a week ago is that there was no accompanying economic forecast from the Office for Budget responsibility. Last night, the OBR confirmed that it was ready to produce an updated assessment of public finances to be published with the mini-budget a week ago, as is usual practice, but the offer was rejected. Today's Mishal Husain and Justin Webb spoke to Mel Stride, Conservative MP and Chair of the Treasury Select Committee and Andrew Griffith, the Financial Secretary to the Treasury. (IMAGE CREDIT: Chris Radburn/PA Wire)
In our sixth episode of our Beyond Sanctions series, David Harris, Co-Head of our Contentious Financial Services Group in London, discusses some recent developments in the sanctions landscape for regulated firms, including key points from: (i) the Red Alert on Financial Sanctions Evasion, published by OFSI and the NCA last month; (ii) The Sanctions (EU Exit)(Miscellaneous Amendments) Regulations 2022 and The Sanctions (EU Exit)(Miscellaneous Amendments)(No. 2) Regulations 2022, which come into force at the end of this month; and (iii) the FCA's letter to the Treasury Select Committee on economic sanctions, also published last month.
The Prime Minister survived a vote of no confidence last evening, as his critics were unable to garner sufficient support to oust him from office. Boris Johnson will know that his critics have gone away, and although he cannot now be challenged again for a year, his performance will remain under intense scrutiny. That having been said, for all his faults, Johnson is considered to be the Conservative's trump card in elections. It would now be considered foolhardy for rebel MPs to challenge him again, unless there is another scandal of the magnitude of Partygate between now and this time next year, given the fact that the next General election will be less than 18 months away. The Chancellor, Rishi Sunak, testified before the Treasury Select Committee yesterday. Sunak remains an important figure in any leadership debate. His popularity soared when he arranged payments to those being furloughed during the Pandemic, but he was then heavily criticized for raising taxes in his budget last November, and was considered to be slow in arranging help for the lowest paid as the cost-of-living crisis began to bite. Having had a meteoric rise in stature within the Party, Sunak would be considered favourite were there to be a leadership ballot. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.
Food price inflation a big worry for the Bank of England.
Sky's Ian King discusses a jump for Meta's shares after the social media company reported better than expected earnings.He speaks to the chair of the Treasury Select Committee about the government's new Economic Crime Plan.And Heineken strikes a deal with Emmerdale and Coronation Street for its non-alcoholic beers to be served in the Woolpack and Rovers Return.
Today Andy Silvester chats to City A.M. reporters Elena Siniscalco and Jack Barnett. Jack discusses Andrew Bailey's comments warning of the current energy shock being worse than that of the 1970s, and goes through Rishi Sunak's somewhat incongruous remarks today at a Treasury Select Committee. Elena outlines the myriad of problems affecting farmers, supply chains, and food production, as war and uncertainty cause widespread shortages and demonstrate the fragility of our interconnectedness. Andy also whistles through the news: Barclays will lose £450m after selling more products to investors than it was permitted to, and Natwest has now fallen back to majority private ownership after the UK government bailed it out during the financial crisis. See omnystudio.com/listener for privacy information.
“the oligarchs are symbolically important and also, if anybody is going to have an opportunity to whisper in the ear of Vladimir Putin and say ‘what you're doing is completely wrong, completely inappropriate, unacceptable, you need to reverse what you're doing', it's going to be one of those people. “ Following their appearance as witnesses to both the Treasury Select Committee and Foreign Affairs Committee earlier this week, Justine is joined by Tom Keatinge, founding Director of the Centre for Financial Crime and Security Studies at RUSI for this podcast episode. They discuss how to strengthen the effectiveness of sanctions on Russia, the challenge of international support for sanctions on Russian oil, and what may lie ahead in unchartered waters. Tom Keatinge is the founding Director of the Centre for Financial Crime and Security Studies (CFCS) at RUSI, where his research focuses on matters at the intersection of finance and security. He has a Master's in Intelligence and International Security from King's College London, where he studied the effectiveness of the global counterterror finance regime. Prior to joining RUSI in 2014, he was an investment banker for 20 years at J.P. Morgan. You can read Tom's full bio here: https://rusi.org/people/keatinge
During the pandemic, we spent more time online than ever before and this has seen a boom in online fraud. It's estimated that scam adverts have tricked 1 in 10 people on the biggest online platforms into paying for fake products. In 2020, almost 150,000 fraud cases were recorded with losses reported of up to £500 million. For the scammers, they will do anything to convince you to key in your card details and this problem has shown no sign of slowing down. The online safety bill is expected to pass Parliament in March 2022. As things stand, the government hasn't included online fraud as a type of harm when it comes to certain adverts. So could the online safety bill be an effective solution? To discuss this, Katy Balls is joined by Nicky Morgan, former Culture Secretary and chair of the Treasury Select Committee. Now a member of the House of Lords, Nicky is chairing a new inquiry into digital fraud. Also on the podcast is Lucy Powell, the Shadow Culture Secretary for Labour and Liz Ziegler who is the retail bank fraud and financial crime director at Lloyds Banking Group. This podcast is kindy sponsored by Lloyds Banking Group.
During the pandemic, we spent more time online than ever before and this has seen a boom in online fraud. It's estimated that scam adverts have tricked 1 in 10 people on the biggest online platforms into paying for fake products. In 2020, almost 150,000 fraud cases were recorded with losses reported of up to £500 million. For the scammers, they will do anything to convince you to key in your card details and this problem has shown no sign of slowing down. The online safety bill is expected to pass Parliament in March 2022. As things stand, the government hasn't included online fraud as a type of harm when it comes to certain adverts. So could the online safety bill be an effective solution? To discuss this, Katy Balls is joined by Nicky Morgan, former Culture Secretary and chair of the Treasury Select Committee. Now a member of the House of Lords, Nicky is chairing a new inquiry into digital fraud. Also on the podcast is Lucy Powell, the Shadow Culture Secretary for Labour and Liz Ziegler who is the retail bank fraud and financial crime director at Lloyds Banking Group. This podcast is kindy sponsored by Lloyds Banking Group.
During the pandemic, we spent more time online than ever before and this has seen a boom in online fraud. It's estimated that scam adverts have tricked 1 in 10 people on the biggest online platforms into paying for fake products. In 2020, almost 150,000 fraud cases were recorded with losses reported of up to £500 million. For the scammers, they will do anything to convince you to key in your card details and this problem has shown no sign of slowing down. The online safety bill is expected to pass Parliament in March 2022. As things stand, the government hasn't included online fraud as a type of harm when it comes to certain adverts. So could the online safety bill be an effective solution? To discuss this, Katy Balls is joined by Nicky Morgan, former Culture Secretary and chair of the Treasury Select Committee. Now a member of the House of Lords, Nicky is chairing a new inquiry into digital fraud. Also on the podcast is Lucy Powell, the Shadow Culture Secretary for Labour and Liz Ziegler who is the retail bank fraud and financial crime director at Lloyds Banking Group. This podcast is kindy sponsored by Lloyds Banking Group.
Join Legal Director, Matthew Ewens and Associates Emily Wright and Richard Harvey from our White Collar Crime and Investigations Group where they discuss MPs sitting on the Treasury Select Committee who have recently criticised HMRC's response to the high levels of fraudulent claims reported to have been made to the government's Covid support schemes. Mishcon Academy: Digital Sessions are a series of online events, videos and podcasts looking at the biggest issues faced by businesses and individuals today.
One of the brightest talents in the Conservative Party shows why she's so highly regarded across the political divide. Andrea shares some brilliant stories from some of the biggest moments in modern politics. From the inside story of how Vote Leave prepared for the TV debate at Wembley, to her 2017 leadership bid, to grilling Bob Diamond when he appeared in front of the Treasury Select Committee and so much more. This is a corker from French Martini start to finish. Follow Andrea on Twitter: @andrealeadsom Subscribe to Matt's other podcast British Scandal here or wherever you get your podcasts: https://podcasts.apple.com/gb/podcast/british-scandal/id1563775446 Email the show: politicalpartypodcast@gmail.com Order Matt's book 'Politically Homeless' here: https://blackwells.co.uk/bookshop/product/2100000262618 Follow Matt on Twitter: @mattforde Follow Matt on WTSocial: https://wt.social/u/matt-forde For the latest UK Government advice on coronavirus go to: https://www.gov.uk/coronavirus See acast.com/privacy for privacy and opt-out information.
Iain Duncan Smith, former Conservative party leader and MP for Chingford and Woodford Green discusses the government legislative agenda but takes aim at the reforms to planning laws. He tells Bloomberg Westminster's Caroline Hepker and Yuan Potts that voters in red wall constituencies have more in common with middle class southern voters than they think. Plus as Lex Greensill faces the Treasury Select Committee to address the collapse of his firm and its lobbying of government. Jon Gerlis, public relations and policy manager at the Chartered Institute of Public Relations says there should be reform to register all lobbyists and tougher rules for the sector.
As the economy kicks back into action, it’s not only businesses which are feeling more confident. Opening this latest Bulletin, we look at a number of lenders who are offering increased support to small businesses with new funding pots and enhanced terms. Have you tried opening a business bank account during the last 12 months? If you have then no doubt it was a frustrating experience. The government seems to think so as well with the launch of a Treasury Select Committee investigation. What are they asking of the High Street banks? To close, in the latest Lloyds Bank Recovery Tracker further good news about an improvement in business recovery. One sector stands out in seeing the signs of an early bounce back.
All too often we hear about fraudsters using the phone to trick victims into handing over thousands or tens of thousands of pounds and destroying lives in the process. But how often to we get to hear an actual recording of these criminals in action? We play a recording of a fraud call in progress because a criminal made the terrible mistake of calling our Money Box reporter Dan Whitworth. Paul Lewis talks to Graeme Biggar, Director General of National Economic Crime Centre for the National Crime Agency and MP Steve Baker, who's a member of the Treasury Select Committee. The Government plans to put more regulations in place to address the widespread concerns about the poor practice and behaviour of private car parking operators. A new code of practice will be drawn up, with the system being introduced by the middle of next year. Paul talks to Steve Clark, Director of Operations and Business Development, British Parking Association. The FCA says it has no current plans to take further regulatory action against a compensation scheme set up by the guarantor loans lender Amigo - despite admitting the scheme might not be compatible with its current rules. Sara Williams, founder of the debt advice website Debt Camel, talks us through the latest developments. Presenter: Paul Lewis Reporter: Dan Whitworth Researcher: Jonelle Awomoyi Production Coordinator: Janet Staples Producer: Ben Carter Editor: Rosamund Jones
Compliance Clarified – a podcast by Thomson Reuters Regulatory Intelligence
Episode 10 of Compliance Clarified takes a look at the findings of Dame Elizabeth Gloster's report into the failure of London Capital & Finance plc and its ramifications for the UK Financial Conduct Authority. With Susannah Hammond to discuss the Gloster report, the Treasury Select Committee hearings and the likely future of the UK FCA are Lindsey Rogerson and Rachel Wolcott. Related articles by Rachel:FCA leadership's post-Gloster clampdown plans, prevention data stay as aspirations for now https://www.linkedin.com/feed/update/urn:li:ugcPost:6777187641088585729/ FCA to develop dashboards; will move uncooperative firms "out of the system far quicker" – CEO https://www.linkedin.com/feed/update/urn:li:activity:6777189844754935808/ Related articles by Lindsey:Andrew Bailey (now governor of the Bank of England, previously CEO of FCA) on Gloster https://www.linkedin.com/feed/update/urn:li:activity:6777193661932425216/ Gloster report findings https://www.linkedin.com/feed/update/urn:li:activity:6777195085495975936/ Further information on Thomson Reuters Regulatory Intelligence can be found here - https://legal.thomsonreuters.com/en/products/regulatory-intelligence
This edition of the Business Finance Bulletin podcast is a Bounce Back and CBILS fest! We kick off with the news that following a raft of new restrictions the government has extended the application deadlines for all the loan support schemes. The swift roll-out of the Bounce Back Loan scheme has been criticised by the Treasury Select Committee stating that the balance between protecting taxpayer’s money and supporting business is wrong. We look at what their concerns are. To close, a review of the latest Bounce Back Loan and CBILS figures which show continued growth and demand from businesses in need of cash support.
LBC Newshour | Cross Question: Harriett Baldwin - Conservative MP for West Worcestershire, former minister & member of the Treasury Select Committee; Pat McFadden - Shadow Economic Secretary to the Treasury & Labour MP for Wolverhampton South East; Miatta Fahnbulleh - Chief Executive of the New Economics Foundation; Peter Cardwell - Commentator, former SpAd and author of The Secret Life of Special Advisors | Foreign Aid phone-in with Andrew Mitchell: The UK has ditched its policy of spending 0.7% of national income on overseas aid to help deal with the coronavirus crisis at home - do you think this is the right thing to do?
Mel Stride, Chair of the Treasury Select Committee & Tory MP joins Julia to discuss the second lockdown that begins in England today. Professor Liam Kennedy, Director of the Clinton Institute for American Studies, University College Dublin discusses the US election results. Finally, Leandra Ashton talks to Julia about her mother who got arrested for trying to take her elderly mother out of a care home. See acast.com/privacy for privacy and opt-out information.
Julia speaks with Chair of the Treasury Select Committee & Tory MP, Mel Stride, about Rishi Sunak's financial measures to save the UK economy. Public Policy Editor at the Financial Times, Peter Foster, discusses Michael Gove's statement on the reasonable worse-case scenario for border post-Brexit. Luke Johnson, Chairman of Gail's Artisan Bakery and Brighton Pier Group, about the 10pm curfew on pubs and restaurants that is coming into force today. See acast.com/privacy for privacy and opt-out information.
Has the government found the magic money tree? It certainly seems like it when the furlough scheme and various other Covid measures have taken government debt to above £2 trillion. The crazy amount of spending has been kept afloat by quantitative easing, the Bank of England’s policy of choice since the financial crisis. Some have called this ‘money-printing’ and warned of a reckoning, yet none has come. So what does this new financial environment mean for investors, savers, and the less well off? Fraser Nelson talks to a panel of special guests in this podcast, sponsored by Charles Stanley. With Harriett Baldwin, Conservative MP who sits on the Treasury Select Committee; David Miles, an economist at Imperial College London, formerly a member of the Monetary Policy Committee; and Paul Abberley, CEO of Charles Stanley.
The UK government should consider a targeted extension of its furlough scheme, MPs have said. The coronavirus crisis risks mass long-term unemployment and viable firms could go under without support, the Treasury Select Committee has warned.Vox Markets is revolutionising the way companies engage with shareholders and the stock market at large. By aggregating IR and digital content onto one secure and compliant platform, Vox Markets has established itself as the go-to resource for the investment community.#VoxMarkets #StockMarket #LivePrices #StockMarketNews #Money #Investing #Finance #Business #Podcasthttps://www.voxmarkets.co.uk/
Julia speaks with Dr Layla McCay, Director at the NHS Confederation, about the enforcement of the rule of six and the Prime Minister's plans for Moonshot vaccines. Chair of the Treasury Select Committee, Mel Stride, tells Julia about the concerns in extending the Job Retention Scheme. Conservative MP, Sir Roger Gale, and Former Brexit Party MEP, Ben Habib, explain the EU's threats to take legal action over the UK's changes to the divorce deal as well as calls for Justice Secretary Robert Buckland to resign. See acast.com/privacy for privacy and opt-out information.
As technology becomes ever more part of our daily lives, banking is no different. You might have already used some ‘fintech’ innovations like Monzo and Klarna. The flexibility of fintech can particularly help women in their day-to-day lives, but if that’s the case, why is some fintech mostly used and created by men? In this special episode of Women With Balls, Katy Balls is joined by her panel to discuss these issues and more. With Nicky Morgan, Baroness of Cotes, a former Conservative Cabinet Minister and chair of the Treasury Select Committee; Chi Onwurah, a shadow Science minister, who was head of telecoms at Ofcom; Gill Wylie, Transformation Director at Lloyds Banking Group. Sponsored by Lloyds Banking Group.
As technology becomes ever more part of our daily lives, banking is no different. You might have already used some ‘fintech’ innovations like Monzo and Klarna. The flexibility of fintech can particularly help women in their day-to-day lives, but if that’s the case, why is some fintech mostly used and created by men? In this special episode of Women With Balls, Katy Balls is joined by her panel to discuss these issues and more. With Nicky Morgan, Baroness of Cotes, a former Conservative Cabinet Minister and chair of the Treasury Select Committee; Chi Onwurah, a shadow Science minister, who was head of telecoms at Ofcom; Gill Wylie, Transformation Director at Lloyds Banking Group. Sponsored by Lloyds Banking Group.
Chancellor of the Exchequer Rishi Sunak joins Julia to discuss his mini budget which was announced in full yesterday. Wes Streeting, Shadow Exchequer Secretary to the Treasury and Labour MP on half-price meals and reduced VAT which are part of the plan to save our economy from coronavirus. Julia is also joined by Mel Stride, Chair of the Treasury Select Committee and Conservative MP. See acast.com/privacy for privacy and opt-out information.
“We’ve both been left unemployed…before, we were hanging on and now we’ve just fallen…the Coronavirus, it’s just pushed us over the edge” Lucy Graney lives with her husband Will and their two young children in Salford, U.K. Before the pandemic she was a sling librarian, consultant and a prolific content creator publishing on Facebook and Instagram. Both Lucy and Will recently made the move to self-employment which meant they weren’t eligible for any government grants to sustain their businesses through lockdown. In this postcard, sent on 11th June, she reflects on family life in isolation, being Autistic and the challenges that their current situation presents as lockdown is lifted. Context Lucy’s scenario is not unique, especially to those who are newly self-employed. In the government’s bid to avoid fraudulent claims to the Self-Employment Income Support Scheme (SEISS), those without a tax return for 18/19 were prevented from applying. A recent Treasury Select Committee highlighted that a million people in the UK have been left without income support because they were excluded from COVID-19 salaried or self-employed schemes. Recommendations included an urgent review to help the many people like Lucy and Will. According to the Fawcett Society, by this summer 51% of parents with young children will struggle to make ends meet. In particular, women in the UK have been disproportionately affected by the Coronavirus pandemic in terms of childcare responsibilities, job losses and poor mental health. Research by the Institute for Fiscal Studies highlights that the widening gap between out of work benefits and the rising cost of living adds to the precarious situation that families face. Episode links: Little Lifts Instagram: https://www.instagram.com/littleliftsblog/ Little Lifts Facebook: https://www.facebook.com/littleliftsblog/ The Government SEISS website: https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme Guardian on the million who slipped through the cracks: https://www.theguardian.com/politics/2020/jun/15/more-than-a-million-left-out-of-coronavirus-income-support-say-mps Fawcett Society on Coronavirus' impact on women: https://www.fawcettsociety.org.uk/news/parents-struggling-and-women-keyworkers-are-anxious Guardian reporting of the research: https://www.theguardian.com/world/2020/may/20/uk-women-bear-emotional-brunt-of-covid-19-turmoil-poll IFS COVID-19 and inequality research: https://www.ifs.org.uk/inequality/covid-19-and-inequalities/
In the week that a Treasury Select Committee report found over a million people have missed out on government support schemes designed to help them through the pandemic, we meet those most badly affected.We chat to freelancers struggling for an income, discuss the impact of money worries on mental health, and ask if the situation is likely to change any time soon? See acast.com/privacy for privacy and opt-out information.
People who have recently begun new jobs say that the government’s plan to help businesses hit by coronavirus may treat them unfairly. Under the Coronavirus Job Retention Scheme, a business can choose to furlough workers – that is, keep them on the books but not working and at home. The government will pay 80 per cent of their wages up to £2,500 per month. Companies may choose to top up furloughed employee wages to 100 per cent. However, to be eligible for furloughing, workers have to have been in employment with the company on February 28th, 2020. New starters say that unfairly leaves out people who happened to be between jobs on that date. It also means that people who have changed jobs since then cannot ask to be furloughed by their new employer. We hear the experiences and concerns of new starters and employers, alongside Edwin Morgan, director of policy at the Institute of Directors, and employment lawyer Amy Wren of Farrer and Co. Then we put your points to Harriet Baldwin, MP - a Conservative member of the Treasury Select Committee and former economic secretary to the Treasury. There's an update on the Financial Conduct Authority's proposals for new rules on lending. And on the podcast, happy news from a Money Box-inspired wedding. Presenter: Felicity Hannah Producer: Paul Waters Editor: Hugh Levinson
Anthony Brown, Conservative MP and member of the Treasury Select Committee is on hand for some much needed financial advice and today's home-schooling explores Leap Years. See acast.com/privacy for privacy and opt-out information.
The MP for Wirral South and Treasury Select Committee member Alison McGovern popped into the Downtown Den to talk with our CEO Frank McKenna about the Chancellor's announcement on Friday, the government's handling of the crisis so far, the Labour leadership saga and footy!
These are unprecedented times - a Chancellor in post for just four weeks and a Budget dominated by response to a pandemic. Christopher Hope invites the new Chairman of the Treasury Select Committee, Mel Stride MP to the Red Lion to make sense of the situation. Plus, economist Gerard Lyons explains the true cost of Covid-19 on the economy and former adviser to Philip Hammond, Poppy Trowbridge weighs in on Rishi Sunak’s performance, and tells us why the most difficult thing about budget day isn’t necessarily standing up in the Commons…Gerard Lyons - Rishi Sunak's first Budget will surely stand the test of time: https://www.telegraph.co.uk/politics/2020/03/11/rishi-sunaks-first-budget-will-surely-stand-test-time/ |Get 30 days' free access to The Telegraph: https://telegraph.co.uk/chopper |Listen to Crossfire: www.playpodca.st/crossfire |Email: chopperspolitics@telegraph.co.ukTwitter: @chopperspodcast
Each week I invite one of my speakers to talk about their life, work, passions and leisure so that you can get to know the person who is the speaker behind the mic. In this episode we are going to talk about economics and history with Dr Linda Yueh. Dr Linda Yueh is a leading economist, writer and broadcaster. Her latest book, The Great Economists: How Their Ideas Can Help Us Today answers the biggest economic questions of our time by drawing on the ideas of the thinkers who have changed our world. It was selected as The Times’s Best Business Books of 2018 and also by Newsweek magazine in the U.S. as the Best Fiction and Non-Fiction of 2018. Bio Dr Linda Yueh is Fellow in Economics at St Edmund Hall, University of Oxford, Adjunct Professor of Economics at London Business School, and Visiting Professor at LSE IDEAS. She is a broadcaster, including for BBC Radio 4 and the World Service, and was the BBC’s Chief Business Correspondent and host of “Talking Business with Linda Yueh”, as well as Economics Editor at Bloomberg TV. Linda Yueh has served as a special advisor for the World Bank, the European Commission, Asian Development Bank, and World Economic Forum in Davos. She was Co-Chair of the Global Cities Business Alliance (GCBA) and sits on the supervisory Policy Committee of the Centre for Economic Performance (CEP) at the London School of Economics and Political Science, as well as serving on the Advisory Board of The Official Monetary and Financial Institutions Forum (OMFIF). Linda has been a Non-Executive Director of several FTSE companies, an advisor to the British Chambers of Commerce (BCC), and Board member of London & Partners, the official promotional agency for London. Linda gave testimony before the Treasury Select Committee and the Foreign Affairs Committee of the House of Commons, UK Parliament, on the impact of China on the world and UK economy. Linda Yueh is widely published and is the Editor of the Economic Growth and Development book series at Routledge. Her latest book is The Great Economists: How Their Ideas Can Help Us Today (What Would the Great Economists Do?) Linda’s expertise is in economic and business issues, particularly the global economic environment, including the Chinese economy and Brexit. Recorded: 22nd January 2019 Links: More about Linda Yueh More about The Great Economists: How Their Ideas Can Help Us Today More about Maria Franzoni Ltd Connect with Maria on Linkedin Connect with Maria on FaceBook To book any of the speakers featured on the Speaking Business podcast, click here
It’s a defining moment for British democracy. This December, Parliament will vote on whether to approve or reject Theresa May’s draft Brexit withdrawal agreement. With the nation’s future hanging in the balance, some have called this the greatest crisis Britain has faced since Suez.On Monday December 3rd, Intelligence Squared brought together three prominent lawmakers to debate the three options ahead. Should Parliament vote to accept May's deal? Should MPs vote it down, so the government can return to the EU negotiations and threaten to leave without a deal? Or should there be a second referendum on the withdrawal agreement, with the option of remaining in the EU?Arguing in favour of a second referendum on the deal, with the option of remaining in the EU:Andrew Adonis - Labour Party peer who served as a minister in the governments of Tony Blair and Gordon Brown for five years. He supports Britain remaining in the European Union.Arguing for the government to renegotiate and threaten to leave without a deal:Daniel Hannan - Leading pro-Brexit politician and Conservative Member of the European Parliament for South East England.Arguing for Theresa May’s draft withdrawal agreement:Nicky Morgan - Conservative MP for Loughborough and former Secretary of State for Education under David Cameron. She is now Chair of the Treasury Select Committee. She has come out in support of Theresa May’s deal.The debate was chaired by presenter on Radio 4’s Today programme and former BBC political editor Nick Robinson. See acast.com/privacy for privacy and opt-out information.
Our hosts Sarah and Simon are joined by Emily Nicolle, Technology Reporter at CityAM, Valentina Kristensen, Director of Growth & Comms at OakNorth and Sophie Winwood, Investment Associate at Anthemis Group. First up, Show me the money! Monzo are crowdfunding for the last chunk of its series E fundraising round. Fundraising with a target of £20M. Existing Monzo investors will get early access to the round from 3 December. The round will then be opened up to other Monzo customers, who can invest up to £2,000. Previously have raised over £4M from two other crowdfunding rounds. Last round in 2016 broke record for fastest equity raise with £1M funded in 96 seconds. Emily wrote this story and has some great insights into what's going on. We also have a great interview with Tristan Thomas, Monzo's Head of Marketing to get his thoughts on crowdfunding, why they're doing it now and much more. Revolut head East as it obtains licenses in Japan and Singapore. The licenses from regulators in Japan and Singapore will enable it to operate in a similar fashion to its UK business through partnerships with local banks. Hoping to launch in the Asia Pacific region in Q1 2019, with over 50,000 users already on its waiting list. The JP and SG launch will happen ahead of the US launch, despite Revolut’s original plan to launch in the US inside 2018. Diversity could always bolster funding...Swift Institute call for gender diversity in fintech. The SWIFT Institute, set up by SWIFT, funds independent research and is offering a €15,000 grant to increase gender diversity. It wants proposals on “Securing the Future of the Financial Industry via Improved Gender Diversity”. Cites a 2017 McKinsey study - companies in the top quartile for gender diversity on their executive teams were 21% more likely to experience above-average profitability than companies in the fourth quartile. Nearly 3/4 of female millennials working in financial services believe that while their organisations talk about diversity, opportunities are not equal for all. Investigating meltdowns. Bank IT failures investigated by Treasury Committee after series of meltdowns. The Treasury Select Committee will examine whether banks can prevent disturbances to services following on from the banking service outages earlier this year. It will look at the common causes of IT failures, how customers lose out and whether the BofE and FCA are able to hold the relevant people to account. Since Nicky Morgan became chair of the committee 16 months ago outages have occurred at Equifax, TSB, Visa, Barclays, Cashplus, RBS and others. Skin in the game. MyBucks and Bibimoney are Sim-Skin kings of Africa. Frankfurt’s MyBucks and UK-based Bibimoney have launched a joint venture aimed at the African microloan market through SIM-Skin technology. Once attached to the SIM card, it enables the Bibimoney app to function on any mobile device (smart and feature phones) and includes an interoperable mobile wallet. The firms say the mobile wallet has full transactional capabilities and will also include functionality to apply for, obtain and repay microloans. We speak to our resident African markets expert, LesleyAnn Vaughan to get her thoughts on this initiative. Put it all on fintech. Where top US banks are betting on fintech. US banks are actively investing in fintech startups. To the end of November this year the top 11 US banks by assets participated in a total of 49 equity rounds to fintech startups. This compares to 19 in 2017 and 33 in 2016. Sometimes banks invest and partner with fintechs to further internal strategic goals. Strategic investing is a growing trend among banks in 2018, as many US banks have solidified their internal digital strategies and are now looking to execute. That wasn’t on the public feed...Venmo payment fraud leads to $40M in losses. The losses occurred in the first three months of 2018 according to internal documents the Wall Street Journal reviewed. Expenses due to fraudulent transactions, otherwise known as the transaction loss rate, increased to 0.40% of overall volume at Venmo in March compared to 0.25% in January. Venmo typically reimburses customers for any money they lose in a fraudulent transaction. We spoke to our US expert, Sam Maule to get his thoughts on Venmo's fraudster issues. They’re watching you. Beijing to judge every resident based on behaviour by end of 2020. Beijing set to adopt a lifelong points program by 2021 that assigns personalized ratings for each resident. The capital city will pool data from several departments to reward and punish some 22 million citizens based on their actions and reputations by the end of 2020. Those with better social credit will get “green channel” benefits (such as access to credit) while those with low scores will find life more difficult - such as being banned from taking trains and buses. And Finally… No way this’ll make a mess at all. Costa and Barclaycard release ‘UK first’ contactless reusable cup. Costa Coffee has partnered with Barclaycard to launch reusable contactless coffee cup, which is said to be the first of its kind in the UK. The Clever Cup is a contactless cup - contactless connected to reusable coffee cups for transactions up to £30. All this and so much more on today's episode of Fintech Insider! Subscribe so you never miss an episode, leave a review on iTunes and every other podcast app. Spread the fintech love by sharing or tweeting this podcast. Let us know your thoughts @FintechInsiders and join the discussion by signing up at www.fintechinsidernews.com This week's episode was produced by Laura Watkins, written by Dhanum Nursigadoo and edited by Alex Woodhouse. Special Guests: Emily Nicolle, Sophie Winwood, and Valentina Kristensen.
Nicky Morgan, U.K. Member of Parliament & Chair of Treasury Select Committee, and Rupert Harrison, BlackRock Multi-Asset Strategies Portfolio Manager, talk the challenges of getting the Brexit deal through Parliament. James Sweeney, Credit Suisse Chief Economist & Head of Global Fixed Income & Economic Research, says returns aren't great but the unemployment rate is going nowhere. Oliver Chen, Cowen Senior Equity Research Analyst, discusses Cyber Monday for a generation that needs "instagramable moments." Abhishek Deshpande, Head of JP Morgan's Global Oil Market Research & Strategy Team, thinks oil's falling prices are partly policy led. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
Nicky Morgan, U.K. Member of Parliament & Chair of Treasury Select Committee, and Rupert Harrison, BlackRock Multi-Asset Strategies Portfolio Manager, talk the challenges of getting the Brexit deal through Parliament. James Sweeney, Credit Suisse Chief Economist & Head of Global Fixed Income & Economic Research, says returns aren't great but the unemployment rate is going nowhere. Oliver Chen, Cowen Senior Equity Research Analyst, discusses Cyber Monday for a generation that needs "instagramable moments." Abhishek Deshpande, Head of JP Morgan's Global Oil Market Research & Strategy Team, thinks oil's falling prices are partly policy led.
Following last week's evidence by HMRC to the Treasury Select Committee, Matthew Clark, PwC's Head of UK Customs, Excise and International Trade and Anna Wallace, Director of Political Relations discuss what the proposed new customs options could mean for business.
With James Forsyth and Nicky Morgan, Chair of the Treasury Select Committee. Presented by Fraser Nelson.
What do small businesses want from the Budget on November 22? FSB Head of Media Alan Soady discusses this with Deputy Head of Public Affairs Ruby Peacock, Media and Communications Advisor Matt Dickinson, Local Government Policy Advisor Greg Warren and Tax Policy Advisor Lorence Nye. The podcast also features insights from Nicky Morgan, Chair of the Treasury Select Committee.
The event launched the second edition of Performance Tracker, a data-driven analysis of the performance of key public services from the Institute for Government and the Chartered Institute of Public Finance and Accountancy. A unique independent analysis, Performance Tracker uses more than 100 data series to shed light on the heated but opaque debate about whether our public services can make further efficiencies, or if they really are at breaking point. This edition examined nine public services iincluding those dominating the pre-Budget headlines: prisons, hospitals, schools, police and UK Visas and Immigration. Based on this analysis, the report looked at key decisions facing the Chancellor in the upcoming budget. Dr Emily Andrews, Senior Researcher at the Institute for Government, presented the key findings of the report. This was followed by responses from Nicky Morgan MP, Chair of the Treasury Select Committee and Gillian Fawcett, Head of the Governments Faculty at CIPFA. This event was chaired by Julian McCrae, Deputy Director of the Institute for Government. Read the Spring 2017 edition of Performance Tracker. @IfGevents #PT2017
Wes Streeting, MP for Ilford North gives a talk for the Mansfield college seminar series. Labour Member of Parliament for Ilford North and member of the Treasury Select Committee. Wes has previously been Head of Education at Stonewall, Chief Executive of the Helena Kennedy Foundation, Deputy Leader of the London Borough of Redbridge and President of the National Union of Students.
Wes Streeting, MP for Ilford North gives a talk for the Mansfield college seminar series. Labour Member of Parliament for Ilford North and member of the Treasury Select Committee. Wes has previously been Head of Education at Stonewall, Chief Executive of the Helena Kennedy Foundation, Deputy Leader of the London Borough of Redbridge and President of the National Union of Students.
In a Fintech Era when Big Data is all the rage Equity Crowdfunding rather looks like a very poor relation indeed. Less Small Data even and more No Data. As I have written about in The Strange Case of Missing Data on UK Equity Crowdfunding none of the platforms, the UK Crowdfunding Association or the FCA appear to be providing or asking for even the bare minimum, I am pleased to be joined in this curious vacuum by Rupert Taylor MD of AltFiData who first appeared on the show a year ago giving an overview of the whole alternative finance scene. The AltFi Data team recently released a report City lawyers Nabarro entitled “Where are they now? A report into the status of companies that have raised finance using equity crowdfunding in the UK" For those of you who aren't aware of the depths of the challenge in this area the acting head of the FCA and chairman of the FCA were grilled recently by the UK government's Treasury Select Committee. Perhaps the most shocking aspect of this was the lack of grip the FCA appeared to have on data on the sector – venturing that p2p losses were “around 1%” and that there was a lack of performance data around ECF. However the FCA did mention that they insist that ECF platforms make it clear that the majority of startups fail. In this episode we discuss: - Rupert's charity Momentum which aims to give children from a state academy work experience which he sees as the essential tyranny which can hold those back whose parents aren't well-off/well-connected (especially as much experience/intern-ing can be unpaid :-() - the problems of the English language, despite which we decided to continue using it :-) - the necessity of asset classes demonstrating their performance. A comparison of #ecf with #p2p which is doing a far far better job of transparency around track-record - the huge difficulty of finding out even simple statistics like how many deals have been done and how many of those companies are alive today. Companies house Dickensian latency around data; social media; telephone calls and many other "old world" brute force techniques of discovering - the twin aims of the report being this basic "survival" data and the desire that the #ecf industry pick up the ball and run with it - in it's own interests as well as that of their investors (who they purport to serve) - the parallel between professionally-managed stock markets and #ecf 2015 - the media treatment (both old and new) to the report to spin it into saying what they wanted to in the first place - £140m raises to June '15; over 2015 £145m is expected to be raised - more than in its prior history; - the average age of ecf-raising companies being 3yrs which is not a startup - although it is early days, especially for companies that raised funds in 2014/2015, the data shows that 4 out of 5 companies that raised ecf are still going. Contrast this with the oft-reported (but apparently groundless) stat that 9 out of 10 startups fail. Stats based in research are along the lines that roughly 1 in 2 startups failed (RSA, Nesta, ONS) - the fact that an ecf-raising company is very different from a startup (which stats relate to)
The 'Cyber Monday' computer meltdown that affected RBS and NatWest customers as they tried to bag bargains in the run-up to Christmas was just the latest in a string of IT glitches that have plagued the big UK banks in recent years. But is there a greater problem than the inconvenience caused for shoppers? Melanie Abbott talks to those who have worked on the huge, ageing computer systems at the heart of the UK banking system and finds out that banks like RBS face a massive dilemma - spend billions replacing their 'mainframes' or risk bigger, more serious problems in the next few years. Melanie finds out about the scale and size of the IT systems behind our everyday transactions as she becomes the first journalist allowed access to one of the secret data centres that power the banking payments system at Vocalink. And she hears from Andrew Tyrie, chair of the Treasury Select Committee, about the urgent need to solve the banks' IT problem before they damage the entire financial system.
The UK Government should consider lowering the age of sexual consent to 15 a leading public health expert has said. Professor John Ashton, president of the Faculty of Public Health, says changing the law would 'draw a line in the sand' against sex at 14 or younger. He is right to say he believes society sends 'confused' signals about when sex is permitted and has called on a national debate on the issue. From those who bothered to comment Steve in London takes a firm stand saying, "We should be doing more to enforcing the existing age of consent rather than lowering it. If children (i.e. those aged 15 or under) are having sex then they should be punished. Schools should be doing more to educate our children in this respect. The chairman, The Rev Paul Flowers, a Methodist minister who oversaw the near-collapse of the Co-operative Bank has been caught buying and using illegal drugs including crystal meth, crack cocaine and ketamine. He was filmed buying the substances just days after he was severely questioned by MPs on the Treasury Select Committee over the bank's disastrous performance. This type of hypocracy is getting people fed up. One really good comment said, "Compulsory drug tests for MPs, Senior civil servants and Directors of PLCs, now that seems just. If its important to stamp it out in sport then its essential to stamp it out of those who manage the general public's assets." Tony Abrahams, a father aged 47, was stabbed repeatedly by burglars in front of his wife and daughter when he caught them raiding his house. Apparently, he walked into the three intruders on his landing after hearing his 23-year-old daughter, Jade, wake up and scream. The intruders were trying to take a television from her room. He was awoken by the noise and went to investigate according to reports. Both Vince and neil believe the law is not backing the householder. Reactions included, "Prison with its cushy lifestyle is far too good for monsters like these. The sooner we end this failed experiment of softly softly treatment, the sooner we might get to grips with this lawlessness." Feckless families should be put through ‘two years of hell’ in boot camps to turn their lives around, a Tory crime tsar, Adam Simmonds, Police and Crime Commissioner (PCC) for Northamptonshire. has urged........derelict Army bases could be used to house them while they were taught basic household skills, ordered to stop drinking and smoking, and given basic job training. However, comments to the newspaper article include "The Tory Government of the 1990s introduced boot camps for young offenders but research suggested they did not cut reoffending and were too costly........Neil and Vince reiterate their ideas that these 'offrenders' should be in jails on remote islands with a tough regime to sort them out
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