Bottom Line: Banking on emerging markets is no longer such a sure-fire bet December 4, 2013 AHEAD of today’s Autumn Statement, George Osborne got an implicit rebuke over his repeated enthusiasm for raising the banking levy in Standard Chartered’s profit warning yesterday. The bank noted “a significant increase in the UK bank levy”. It anticipates a cost of $250m (£153m) this year, up from $174m in 2012. The levy has been [...]
Infrastructure plan met with cautious support December 4, 2013 THE GOVERNMENT’S national infrastructure plan received mixed reactions yesterday, as proposals for over £375bn worth of projects were announced by chief secretary to the Treasury Danny Alexander. The document sets out the UK’s infrastructure needs and how to address them. It includes detail on the government’s plan to increase money raised through the sale of [...]
It’s time to end the cruel delusion of cheap money and reckless spending December 2, 2013 GEORGE Osborne will present his Autumn Statement to a country in the grip of a cruel economic delusion, perpetrated against the poor and the aspirational. Welfare states everywhere are spending chronically beyond their means while papering over the cracks with easy money. Budget 2013 forecast spending in excess of receipts of about £9bn a month. [...]
Autumn statement December 5, 2012 THE BUSINESS CONFEDERATION’S VIEW DIRECTOR GENERAL JOHN CRIDLAND The CBI is the UK’s top business lobbying organisation. It aims to influence government policy on a wide range of business matters. “£5bn on near-term infrastructure, like the tube to Battersea, half a billion a year tax relief for small firms, and £1.5bn extra export support should [...]
Analysts look to Osborne speech for giveaways November 28, 2013 UK ECONOMISTS laid out the possibilities for chancellor George Osborne’s Autumn statement yesterday, with less than a week to go until his speech. Capital Economics, PwC, BDO and IHS Global Insight issued their own expectations for the announcement, which will set the course for the government’s economic policies in the months ahead. Most expect the coalition [...]
Osborne sticks to £50 pledge on energy bills December 5, 2013 CUSTOMERS will save around £50 on their energy bills through green policy reforms, the government confirmed in yesterday’s Autumn Statement. Some green levies will be reduced or shifted into taxation and three new energy-saving schemes will be implemented as part of the policy overhaul. “The government cannot control the price of energy in the global [...]
London Report: Chancellor and Chote set to face MPs’ questions December 8, 2013 CHANCELLOR George Osborne will be back in the spotlight on Thursday as he is quizzed by the Treasury Select Committee about the contents of his Autumn Statement. But Osborne is the not the only one to face a grilling from the committee this week, as Office for Budget Responsibility (OBR) head Robert Chote is likely [...]
London Report: Under pressure Tesco to reveal crunch results December 1, 2013 TESCO’S quarterly results on Wednesday form the centrepiece of a full calendar of corporate results dominated by high street names. The supermarket, which recently saw its market share fall under 30 per cent for the first time over the last 18 months, is set to deliver disappointing numbers, according to analysts, who predict a like-for-like [...]
Married couples get £1,000 tax allowance December 5, 2013 THE CHANCELLOR gave more detail on one of David Cameron’s flagship policies in his Autumn Statement yesterday, setting out plans for how the married couples tax allowance will work. Couples, including those in civil partnerships or same-sex marriages, will be able to transfer up to £1,000 of their tax-free personal allowance from 2015, as long [...]
Britain looks to Qatar to boost energy sector November 4, 2013 ENERGY minister Michael Fallon is visiting Qatar this week and meeting with officials to try to secure new gas import deals and attract a possible £10bn of investment into UK infrastructure. Fallon has made it clear that Britain is looking for new long-term gas supply contracts with Qatar – which currently supplies around 15 per [...]