CITY WHISPERS: Run out of ideas, Chancellor? Treasury turns to Twitter

CITY WHISPERS: Run out of ideas, Chancellor? Treasury turns to Twitter

The Tory party gathering kicks off today with all eyes on Jeremy Hunt for any signs of what might be appearing in the Autumn Statement next month.

Rather than scrutinise a conference speech, hacks might have an easier time checking the Treasury’s account on X, previously known as Twitter.

Last week, the department’s social media team encouraged followers to ‘suggest policy ideas’ for the Autumn Statement, triggering a flood of cynical responses. 

X marks the spot: The Treasury’s social media team encouraged followers to ‘suggest policy ideas’ for the Autumn Statement

But among the cries of ‘resign’ and ‘call a general election’ there were kernels of substance, with one commenter suggesting landlords pay council tax instead of tenants.

Another called for the 40 per cent income tax threshold to be unfrozen. Is the Chancellor listening?

Only time will tell.

Blackberry maker struggles in cybersecurity

Blackberry’s heyday when it controlled nearly half the world’s mobile market is over. 

But the handset maker rumbles on as a provider of cybersecurity. 

Shares tanked last month when BlackBerry said second quarter sales would be below expectations. 

And, as a reminder the glory days are over, a film that revisits the probe into a multi-million dollar stock award scandal hits cinemas on Friday. 

Nothing like a trip down memory lane. 

Jury out over inheritance tax abolition

Rishi Sunak’s reported plans to abolish inheritance tax have sparked plaudits from some political quarters and seething condemnation from others – though what’s new these days?

But one group likely to have sweaty palms over the idea is the bosses of firms on London’s junior Alternative Investment Market, also known as Aim.

Some analysts have pointed out that most Aim shares are exempt from inheritance tax, and, as a result, savers have piled in. 

As much as a third of the stocks in the £90 billion market are thought to be held for tax purposes. 

If the tax were scrapped, some have warned of a ‘serious risk’ of a big Aim sell-off.

Tory donors in the City are unlikely to be thrilled at that.

Morrisons declined to comment over right man for job 

Whispers likes a good chinwag about a chief executive job vacancy – even when there isn’t one, at least officially.

We previously reported several candidates to succeed David Potts at Morrisons. 

There was even talk that chairman Sir Terry Leahy might take over.

Potts insisted he was there for the duration, but turns out he is leaving after all and will be replaced by Rami Baitieh, former boss of French grocer Carrefour.

Which raises the question – was Baitieh the first choice? Morrisons declined to comment.

                                                                                                                            Contributor: Patrick Tooher