How Britain can unlock private capital for infrastructure April 8, 2014 WALK into China’s state planning agency in Beijing and you can pick up a 40-page guide to potential investment opportunities in the UK. That may seem like a small thing in itself, but it's yet another smart move by a commercially-savvy Treasury team bent on banging the drum for inward investment. Chinese investors have never [...]
Largest upwards revision to UK growth forecasts for 14 years December 5, 2013 As expected the Office for Budget Responsibility (OBR) has revised up its growth estimates. The 2013 GDP growth forecast has been revised up from 0.6 per cent to 1.4 per cent.The 2014 GDP growth forecast has been revised up from 1.8 per cent to 2.4 per cent. Chancellor George Osborne says these are the highest [...]
2014: The year to start a proper debate on what the welfare state is for January 6, 2014 GEORGE Osborne has been quick to define 2014’s political agenda. He indicated yesterday what the Conservatives’ offer at the next election is likely to be: completion of deficit reduction in a lower-tax, lower-spend way than Labour, buttressed with continued school reform and tighter control of immigration and welfare. Osborne laid down a challenge to his [...]
The real reason the chancellor should not let the OBR audit party manifestos December 9, 2013 IT HAS been a tough week for Ed Balls. Many within Labour are said to be questioning his position as shadow chancellor following his disastrous response to George Osborne’s Autumn Statement. While Balls claims he “couldn’t give a toss” about the speculation, he needs to repair his party’s economic credibility, and fast. That’s one reason [...]
Industry slates fossil fuel tax December 5, 2013 MANUFACTURERS yesterday slammed the lack of any compensation for energy tax in yesterday’s Autumn Statement. The carbon price support is a tax on fossil fuels used for electricity, which raises costs for energy-intensive industries. “The compensation scheme was notable by its absence,” said Jayne Harrold, environmental tax specialist at PwC. “The government needs EU state [...]
The UK’s service sector is still outshining the rest of Europe December 4, 2013 New data from Markit shows that the service sector activity is continuing to swell in November. New business activity in particular is seeing record highs. It's now the fifth successive month that the purchasing managers' index (PMI) for the sector is at 60 or above. Any number above 50 implies expansion – readings this high [...]
Osborne sticks to plan but is he ready for rising interest rates? December 5, 2013 The message emerging from George Osborne's Autumn Statement is that the UK's fiscal consolidation is far from over and the government remains committed to fiscal discipline. There was disappointing news on the deficit which did not fall by as much as had been predicted. Borrowing this year will amount to £111bn, analysts had expected borrowing [...]
Osborne announces plan to tighten up fiscal rules December 5, 2013 GEORGE Osborne has set out plans to tighten up fiscal rules in order to ensure the government achieves a surplus by the end of the next parliament in 2020. A new Charter for Budget Responsibility will be introduced, in which the chancellor will detail his plan to make sure the debt keeps falling, alongside proposals [...]
Post Office to ring changes with EE mobile network tie-up July 7, 2014 The Post Office plans to become a mobile phone provider this autumn, using EE’s network to offer customers “a genuine alternative” to the major carriers. The government-owned company said it planned initially to sell mobile services in 50 Post Office branches, online and over the phone before rolling out across the country later in the year. [...]
Keep working until you’re 70, Osborne says December 4, 2013 THE STATE pension age is set to rise to 70 after 2050, the chancellor will confirm in his Autumn Statement today. George Osborne will set out his plan for a “responsible recovery” and announce that the state pension age will change to reflect increased life expectancy. Retirement age will now be set according to the principle [...]