Britain's biggest banks are preparing to move out of the UK amid growing fears over the ramifications of leaving the European Union, a top banking boss has warned.
Microsoft is to increase its prices by as much as 22pc in the UK because of sterling's recent decline, a rise that is likely to affect thousands of businesses and could cost the Governments tens of millions of pounds.
Under the current system, only businesses are liable for fines and many try to escape the penalty by declaring bankruptcy. Photograph: Lauren Hurley/PA.
Flood defence spending is branded "a postcode lottery", prompting calls for a fairer system to prevent the poor being worst hit.
Officials looking into the factors behind the dramatic fall in sterling on Oct. 7 will issue an initial report to a group of global central banks in early November, sources with knowledge of the investigation said.