Govt under pressure to regulate private equity
Unions have called for greater transparency and regulation of private equity firms. Delegates at the TUC conference in Brighton overwhelming backed a motion condemning the practices of private equity firms and calling for greater protection of employees. Brought by Connect, it described private equity as a “21st century gold-rush,” where takeovers by private equity firms […]
Lambert: Resisting globalisation ‘disastrous’
Unions have been urged to embrace rather than “push back against the forces of globalisation” by attempting to regulate multi-national companies. Addressing the TUC congress, Richard Lambert, director general of the CBI, said moves for increased taxes and trade restrictions would be “disastrous” for the UK and have serious consequences for growth. Instead, he called […]
Tories plan £14bn red tape savings
The Conservative party hopes to save businesses £14 billion by reducing regulation requirements, a report claims. A forthcoming report recommends an annual “deregulation round” for Whitehall departments, the breaking up of “natural monopolies” and the repeal of many plans proposed by Brussels and the Labour government, according to the Sunday Telegraph. John Redwood, who served […]
MPs criticise ‘destabilising’ private equity firms
MPs have criticised the tax privileges enjoyed by private equity firms and urged the Treasury to review the current structure. However, the Commons treasury committee stopped short of roundly attacking the loopholes manipulated by private equity partners and instead warned of the wider destabilising effects on the economy. The committee raised concerns over the wider […]
Brown to seek views of big business
Gordon Brown has created an advisory group of senior business figures, in a move designed to dispel concerns he will be less sympathetic to big business than his predecessor. Sir Alan Sugar, star of TV show The Apprentice, confirmed he is one of the first high-profile appointments. The prime minister’s Business Council for Britain will […]
Cameron: Bring down barriers to business
Conservative leader David Cameron has been defending his party’s reputation as the party of small business at a launch of a new scheme designed to encourage entrepreneurs. Mr Cameron joined reality TV businessman Tim Campbell at the launch of the Bright Ideas Trust in London. The Trust is the brainchild of Mr Campbell, winner of […]
Manchester to host first super-casino
Manchester has been chosen as the site for Britain’s first super-casino, a Las-Vegas style venue with up to 1,250 unlimited jackpot machines. The independent Casino Advisory Panel said the city’s proposals offered the best test of the social impact and regeneration benefits of the new casino, which could be followed by others in the future […]
Govt pension protection ‘inadequate’
The government offered “inadequate” pension protection for workers whose companies went bust but does not necessarily have to compensate them, a court has ruled. The European court of justice (ECJ) found the government did not properly implement a 1983 European Union directive requiring member states to take “necessary measures” to ensure workers’ pensions were safe […]
Supermarket inquiry to focus on local issues
The Competition Commission has announced it will focus the next phase of its investigation into the groceries industry on local competition between supermarkets. The commission has been investigating the impact of the four biggest supermarkets- Asda, Sainsbuy’s, Tesco and Morrisons – on competition since May last year after the Office of Fair Trading (OFT) referred […]
Tory group moots junk food trading
Firms producing salty, fatty and sugary foods could be allocated junk food quotas to get them to switch to healthier options, a Conservative party working group has proposed. The scheme would operate in a similar way to the European Union emissions trading scheme (ETS), where firms are allocated quotas of pollutants which they can buy […]
