20 August 2010
As the government prepares its spending review it will no doubt welcome the latest figures that show net borrowing for July at £3.8bn. While still sizeable, this is £1.2bn less than forecast and well down on the £6.1bn that was borrowed in the same month last year. If this continues, borrowing for the year will undershoot the Budget forecast of £149bn. The July figure benefited from healthy corporation tax receipts of £8.5bn (up 38% on the same period last year and up 25% in the year so far). The Treasury were keen to point out that the figures were more or less as expected and also highlighted that the corporation tax receipts were well below their pre-recession peak and that the UK was still expected to have the largest deficit of G20 this year. Why down play the positive news? Because they need us to still believe in the need for spending cuts and austerity on which we will find out more in the October spending review.
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Confidence knocked in the Financial Markets
Statements from around the world all suggest a stalled recovery while closer to home there are continuing signs of inflationary pressures at a time of slow to stagnant growth. read more...
12 August 2010
Statements from around the world all suggest a stalled recovery while closer to home there are continuing signs of inflationary pressures at a time of slow to stagnant growth. read more...
So the Bears continued to dominate in quiet trade
A lack of liquidity dominated the UK Energy Markets again this week with what activity there was focusing in on the Winter 10 seasonal contract. read more...
06 August 2010
A lack of liquidity dominated the UK Energy Markets again this week with what activity there was focusing in on the Winter 10 seasonal contract. read more...
All Quiet....
A very quiet day in the UK energy markets which saw very little traded during the period - hardly surprising given the combination of usual Friday slowdown, holidays, a comfortable system as well it being the last traded day of the month. read more...
30 July 2010
A very quiet day in the UK energy markets which saw very little traded during the period - hardly surprising given the combination of usual Friday slowdown, holidays, a comfortable system as well it being the last traded day of the month. read more...
Energy Secretary gives the first annual energy statement to the Commons
Chris Huhne, the coalition government Energy Secretary yesterday gave the first annual energy statement to the Commons. He set out plans to secure energy supplies and cut carbon emissions. In all 32 measures were outlined all with the aim of helping the UK achieve the legally binding target to cut emission by 80% by 2050. read more...
28 July 2010
Chris Huhne, the coalition government Energy Secretary yesterday gave the first annual energy statement to the Commons. He set out plans to secure energy supplies and cut carbon emissions. In all 32 measures were outlined all with the aim of helping the UK achieve the legally binding target to cut emission by 80% by 2050. read more...
2nd Quarter Growth at 1.1%; What Role For Energy
Preliminary figures from the Office for National Statistics (ONS) suggests the UK economy grew by 1.1% in the second quarter, up from the previous quarter's 0.3%. While the figures are preliminary (and based on around 40% of the ultimate data), what they do show is that construction, a relatively small part of the economy, contributed significantly to this growth figure. With 6 out of 10 civil engineering firms looking to the energy and water sectors for their income streams, it seems energy has a role to play in underpinning the recovery. read more...
23 July 2010
Preliminary figures from the Office for National Statistics (ONS) suggests the UK economy grew by 1.1% in the second quarter, up from the previous quarter's 0.3%. While the figures are preliminary (and based on around 40% of the ultimate data), what they do show is that construction, a relatively small part of the economy, contributed significantly to this growth figure. With 6 out of 10 civil engineering firms looking to the energy and water sectors for their income streams, it seems energy has a role to play in underpinning the recovery. read more...
Green Investment Bank still a Concept
Leading figures from across industry warned that the need for new tools to finance future investment in infrastructure are necessary to secure Britain's growth as a low carbon economy. While the coalitions Green Investment Bank (GIB) is supported, it is important to recognise that it is still at present only a concept. read more...
16 July 2010
Leading figures from across industry warned that the need for new tools to finance future investment in infrastructure are necessary to secure Britain's growth as a low carbon economy. While the coalitions Green Investment Bank (GIB) is supported, it is important to recognise that it is still at present only a concept. read more...
A week of Positives
This was a week for good news in the Financial markets; the IMF upgraded its forecasts for world economic growth and there was increasing confidence that European banks would pass their stress tests. Borrowers were pleased, though not surprised that UK interest rates remained unchanged. Overall world stock markets recorded gains across the week. read more...
09 July 2010
This was a week for good news in the Financial markets; the IMF upgraded its forecasts for world economic growth and there was increasing confidence that European banks would pass their stress tests. Borrowers were pleased, though not surprised that UK interest rates remained unchanged. Overall world stock markets recorded gains across the week. read more...
Capacity Payments Discussed as a Tool to encourage Investment
In a week when the engineering industry, in its State of the Nation report, said that the Energy Industry gave the most cause for concern in light of security of supply, Energy Minister Charles Hendry spoke of 'Capacity Payments' as a tool to incentivise plant development. read more...
30 June 2010
In a week when the engineering industry, in its State of the Nation report, said that the Energy Industry gave the most cause for concern in light of security of supply, Energy Minister Charles Hendry spoke of 'Capacity Payments' as a tool to incentivise plant development. read more...
B-day: the aftermath....and look out interest rates
So as Britain's youngest chancellor delivered his first (emergency) budget, was it as painful as expected. Probably not if you are a bank! read more...
23 June 2010
So as Britain's youngest chancellor delivered his first (emergency) budget, was it as painful as expected. Probably not if you are a bank! read more...
Unemployment Figures Rise
Unemployment rose to 2.47m during the first 3 months of the year and with further public sector cuts widely anticipated, things don't look particularly rosy. A very tricky balancing act lies ahead - sort out the deficit but beware the pull from the black hole called recession. read more...
16 June 2010
Unemployment rose to 2.47m during the first 3 months of the year and with further public sector cuts widely anticipated, things don't look particularly rosy. A very tricky balancing act lies ahead - sort out the deficit but beware the pull from the black hole called recession. read more...
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