WPP is coming home as Sorrell lauds tax rules August 30, 2012 WPP endorsed the coalition’s changes to overseas tax rules yesterday by moving its base back to Britain – but the advertising giant’s chief executive Sir Martin Sorrell voiced concerns about other parts of the tax regime. Sorrell told City A.M. the delays to WPP’s return after four years based in Ireland were because “it’s taken [...]
Ed Miliband needs to stop distorting statistics October 1, 2012 IF you want to know why I find it hard to be optimistic about Britain’s economic future, look no further than the political parties’ annual conferences – this weekend it was the turn of the Labour party to pander to prejudice and envy and advocate policies that will end up retarding growth, reducing job creation [...]
Ed Miliband needs to stop distorting statistics September 30, 2012 IF you want to know why I find it hard to be optimistic about Britain’s economic future, look no further than the political parties’ annual conferences – this weekend it was the turn of the Labour party to pander to prejudice and envy and advocate policies that will end up retarding growth, reducing job creation [...]
Britain needs more venture capitalism – not a state bank September 25, 2012 HERE is a simple question. What do you think would do more to help the provision of finance for small firms? Vince Cable’s new state bank, which will begin its operations in 18 months’ time, or a radically improved tax system to improve the provision of equity financing and venture capital? In other words, is [...]
ING profits dip on tough year of restructuring February 13, 2013 DUTCH finance group ING yesterday announced it is cutting another 2,400 jobs as it unveiled a disappointing fourth-quarter profit figure. That brings current headcount cuts to 7,400 which the bank hopes will save €1bn (£865m) a year by 2015. The group made €1.434bn in the final three months of the year, up 21 per cent [...]
Fiscal crisis continues to threaten our struggling economy September 25, 2012 IT is hard to disagree with Standard & Poor’s that the Eurozone is likely to see zero growth until 2014. The situation is worsening again, especially in Spain, where the budget crisis is intensifying amid separationist tensions, and in Greece, which could soon be demoted to being an emerging market again by the FTSE. None [...]
Falling tax receipts show that we’ve forgotten Laffer’s lesson June 27, 2012 SOMETHING very worrying is happening to the UK’s public finances. Income tax and capital gains tax receipts fell by 7.3 per cent in May compared with a year ago, according to official figures. Over the first two months of the fiscal year, they are down by 0.5 per cent. This is merely the confirmation of [...]
Falling tax receipts show that we’ve forgotten Laffer’s lesson June 26, 2012 SOMETHING very worrying is happening to the UK’s public finances. Income tax and capital gains tax receipts fell by 7.3 per cent in May compared with a year ago, according to official figures. Over the first two months of the fiscal year, they are down by 0.5 per cent. This is merely the confirmation of [...]
How an Isa could earn you a million February 26, 2013 The route to tax-free prosperity is simple AS THE end of another tax year approaches, there is still time for investors to shelter up to £11,280 from taxation. But with most experts predicting cash Isas will undershoot inflation, it is surprising that, although close to half of the UK’s adult population holds an Isa, very [...]
Santander sees UK growth but bad Spanish loans dent profits January 31, 2013 BANKING giant Santander claimed it has now moved beyond the Spanish housing crash, setting it up for solid growth in the coming years. Profits plunged 59 per cent to €2.205bn (£1.9bn) for 2012, in large part due to bad loan provisions of €6.14bn. But the bank’s UK arm reported gains, seeing post-tax profits rise four [...]