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LONDON (Reuters) - Britain will chair a meeting of finance chiefs from the Group of Seven rich nations on Feb. 12 to try to map a way out of the global economic crisis inflicted by COVID-19 and to find a solution to an international tax wrangle too.
FILE PHOTO: Britain s Chancellor of the Exchequer Rishi Sunak leaves Downing Street, in London, Britain, November 25, 2020. REUTERS/Simon Dawson/File Photo
Finance minister Rishi Sunak and Bank of England Governor Andrew Bailey will co-host an online meeting of their peers from the United States, Japan, Germany, France, Italy and Canada, as well as the European Central Bank, Britain’s finance ministry said.
Report calls on Government and FCA to consider consequences for BoE boss Andrew Bailey over LCF collapse
Andrew Bailey s handling of the LCF mini-bonds scandal has come under fire (Simon Dawson/Bloomberg via Getty Images
The Treasury and Financial Conduct Authority (FCA) must consider what action to take against Bank of England Governor Andrew Bailey and two officials over their handling of LCF, the author of a report about the collapsed fund told MPs today.
The demise of London Capital & Finance (LCF) in 2019 left investors in mini-bonds facing losses of up to £237m at a time when Bailey was head of the Financial Conduct Authority (FCA).
News diary 1-7 February: Kremlin critic Alexei Navalny has jail hearing and Six Nations starts
Monday
A timely session for the Public Accounts Committee sees Border Force head Paul Lincoln and Home Office permanent secretary Matthew Rycroft answering questions on the programme to upgrade digital services at the UK border. The session follows the NAO’s December report on the subject, but committee members may take the opportunity to question the officials on Priti Patel’s new quarantine measures and recent disruption to the arrival of goods into the UK.
Timeline
March 19, 2021
The UK assumes the rotating presidency of the UN Security Council for the month, with Ambassador Barbara Woodward expected to brief media on the UK’s priorities and key meetings. Typically, Foreign Secretary Dominic Raab would be expected to chair at least one meeting during the presidency. The UK’s leadership of the COP26 and G7, as well as security challenges such as Iran, are likely to figure pro
Britain's unemployment rate rose to 5%, its highest since 2016, as the coronavirus pandemic continued to take its toll on the economy, official figures showed today.