Florence Mayor Matteo Renzi’s recent thumping victory in a vote to lead Italy’s center-left party is the first true ray of political hope the country has seen in years. Italy may at last get a leader with a popular mandate and the appetite to make economic changes the country needs.
London’s status as a magnet for foreign property investment was burnished in the years after the financial crisis by an investor-friendly tax regime and the falling value of the pound. That may be changing.
The U.K. Labour Party’s plan to cap energy prices for 20 months if it wins the 2015 election might bankrupt suppliers, Organization for Economic Cooperation and Development Secretary-General Angel Gurria told the BBC.
Ed Balls, economic spokesman for the U.K.’s opposition Labour Party, dismissed speculation he may be fired from his role after his response to Chancellor of the Exchequer George Osborne’s Autumn statement was ridiculed.
U.K. Chancellor of the Exchequer George Osborne forecast higher growth and lower borrowing while announcing tax increases for banks and foreign property owners as he prepared the ground for 2015’s general election.