Business News – 25th April 2017.
Tighter EU migrant rules worry SMEs
Britain’s SMEs are worried that they will be left short of vital staff if new rules are introduced after Brexit, which limit EU migrants’ access to the UK. The Federation of Small Businesses (FSB) said more than one-fifth of SMEs employ EU workers and those firms could struggle if EU workers had to apply for a job before moving to the UK, depending on post-Brexit migration regulations. The FSB said that its report highlighted the need for small firms to have access to labour and skills from the EU post-Brexit. Some 13% of those with EU employees said they would consider moving if it became harder to recruit, while another 8% reported that they might shut down.
The Daily Telegraph, Business, Page: 7 The Times, Page: 45 The Scotsman, Page: 39 Independent I, Page: 42
Rates relief fund ‘going ahead as planned’
Despite concerns that it would be delayed until after the election, Communities Secretary Sajid Javid says a £300m relief fund to help small businesses hit by the business rates revaluation is already available. He told the Commons: “It’s going ahead, exactly as planned. Councils are free to start using the scheme and helping local businesses.”
Daily Mail Yorkshire Post, Business, Page: 6 The Guardian, Page: 18
Gender pay gap as high as 36%
Early reports from companies disclosing the difference between what their male and female employees earn have revealed pay gaps as high as 36%. Virgin Money disclosed that men who work at the bank earn, on average, 36% more than women. Meanwhile, PwC said it found a 15% difference in pay. The national pay gap is just over 18%, according to Government statistics.
The Independent, Page: 24
Financial sector runs £72bn trade surplus
A report from TheCityUK says Britain’s financial services industry runs a £72bn trade surplus with the rest of the world, highlighting the sector’s importance to the UK economy. The research shows financial firms are also the largest contributor to tax receipts and employ more than 7% of the British working population. Miles Celic, chief executive of TheCityUK, said: “UK-based financial and related legal and other professional services are fundamental to a prosperous economy.”
The Times, Page: 44
Kids Company directors facing bans
The Insolvency Service has written to lawyers acting for Kids Company’s former board members, including founder Camila Batmanghelidjh and former BBC chief Alan Yentob, to warn them that it is minded to pursue disqualification proceedings against them. The Insolvency Service has powers to seek bans on directorships for individuals of up to 15 years.
The Guardian, Page: 29 The Daily Telegraph, Page: 2 Daily Mail, Page: 29 The Times, Page: 19
UK remains attractive for M&A
A report from EY has found that Britain is the third most attractive destination for M&A, behind the US and China. Last October, in the wake of the Brexit vote, it had slumped to seventh and out of the top five for the first time in EY’s seven-year history of assessing deal intentions. During the intervening period, the economy has remained steady and the Government has triggered Article 50.
The Independent Yorkshire Post, Page: 3 The Scotsman, Page: 39
Trump plans to slash corporation tax rate to 15%
The Trump administration is looking to accelerate efforts to draft a tax plan which will cut the US corporate tax rate to 15%. The President is looking to boost growth by easing the burdens on US business.
Financial Times
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Business News – 24th April 2017
Business News – 21st April 2017
Business News – 20th April 2017
Business News – 19th April 2017
Business News – 18th April 2017.