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9am Lowdown
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9am Lowdown: Labour leader candidate vows to stop Brexit

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24th Aug 2016
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Good morning! In this morning's 9am Lowdown, Owen Smith places his leadership bid on halting Brexit and the former PwC CEO opens the Big Four's boardroom doors and reveals his leadership secrets.    

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Labour leader candidate pledges to stop Brexit

Labour leadership candidate Owen Smith has pledged to stop Article 50 unless the Prime Minister offers another referendum, reports the BBC.

Smith declared in an interview with BBC Radio 5 that he will not give the Conservative party a ‘blank cheque’ if he is elected leader of the Labour party. He said he would oppose Brexit in a future commons vote, fearing that Brexit could involve “thrashing workers’ rights”, opening the NHS up to foreign competition” and damaging the economy. “

Smith said: "We will vote in Parliament to block any attempt to invoke Article 50 until Theresa May commits to a second referendum or a general election on whatever EU exit deal emerges at the end of the process."

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Former PwC CEO gives business advice 

The outgoing CEO of PwC Dennis Nally has revealed what business advice he wishes he was given before he started out in an interview with the BBC.

Nally emphasised the “critical” need for businesses to have a risk taking mindset. Speaking about how the business world has changed since he started, Nally said: “42 years ago I think it was ‘steady as you go’, be cautious about opportunities and career decisions.” But now, he impresses the need for those wanting to get ahead in business to have international experience and to take different kinds of experience “outside of the core business”.

The former CEO also discussed his wish 42 years ago to have had an appreciation for the diversity agenda. “People with different backgrounds, different cultures, different ways of thinking, having that guide your thinking. I think that would have made me a better leader early on in my career.

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Community: An ethical dilemma

An AccountingWEB member asked the community to help them wrestle with an ethical dilemma.

I’msorryIhaven’taclue wanted help dealing with their “accomplished hustler” of a client who is currently undergoing HMRC investigation for serious tax fraud. The client has promised to settle invoices but this has “failed to materialise”. This poses an ethical dilemma for the member.

“Contractually we're on firm ground, as our engagement letter sets out the consequences of failure to pay our fees” they explain.  But they add: “I'm uncomfortable with the concept of effectively putting a client on "stop" without actually resigning.”

What would you do in such circumstance? Head over to Any Answers to offer your suggestion.

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By rememberscarborough
24th Aug 2016 09:57

Smith dismisses the result of the referendum and wants another. Fine, but the next time labour win a general election (it could be a while) we all have the right to dismiss that and ask for another. And if we don't like that we'll demand another and another until we get the one we want...

Personally, I might not like the result but this is the democratic process and if Smith doesn't like it there are many other countries where those in charge ignore the people so I suggest he moves there.

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By TDRtax
24th Aug 2016 14:07

I agree with rememberscarborough. I voted with leave, but regardless of how I voted, I took part in a democratic election and would observe the result regardless.

It strikes me as particularly disrespectful to the Labour party that a potential leader wants to abandon the very principal that the party was founded on.

Honestly, if he gets elected to leadership, Labour would never get my vote again.

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By teenajohn
05th Sep 2016 12:49

Smith is right the vote in Parliament sure to block any opportunity to invoke Article 50 until Theresa May commits to a second referendum and it is that to think about general election on sure EU exit deal emerges at the end of the process.
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