Spending watchdog hits out at the government’s green targets December 10, 2012 GOVERNMENT policy on green tax should be centred around the most efficient means to reduce pollution, not around “essentially arbitrary” targets, a prominent fiscal think tank said yesterday. In the Autumn Statement the chancellor announced plans to increase the total share of revenue coming from taxes whose primary purpose is to achieve green outcomes, between 2010-11 [...]
Benefit freeze expected in new drive to save taxpayer money December 2, 2012 GEORGE Osborne yesterday argued it is not fair that hard pressed working families struggle under squeezed incomes and high inflation while their neighbours on benefits are well paid for staying at home. Raising the prospect of a new freeze or even a round of benefit cuts in Wednesday’s Autumn Statement, the chancellor told the Andrew [...]
Business coalition warns over public debt and slower growth December 3, 2012 THE UK will grow at a slower rate than expected next year while inflation will prove stickier than previously thought, according to British Chambers of Commerce (BCC) forecasts published today. Ahead of chancellor George Osborne’s Autumn Statement, expected tomorrow, the BCC warns that public sector borrowing will total £104.1bn in the current fiscal year – “around £12bn [...]
Lobby calls for more state aid to businesses November 13, 2012 A PROMINENT business group this morning called for a radical Autumn Statement from chancellor George Osborne, asking for more money and support from the government. The government should re-allocate £3.8bn spending from welfare measures towards supporting house-builders, growing firms, and business investment the British Chambers of Commerce (BCC) said yesterday. “The chancellor’s Autumn Statement must [...]
Osborne blocks Lib Dem hopes for mansion tax on £2m homes December 5, 2012 MANY London homeowners breathed a sigh of relief yesterday as George Osborne ruled out a mansion tax on expensive properties, something his Liberal Democrat colleagues had been pushing for. The tax — an annual levy on homes worth more than £2m— has long been a cherished Lib Dem policy, which the Tory party have repeatedly refused [...]
…but coalition struggles with transport work November 25, 2012 AMBITIOUS plans to upgrade the UK’s transport network have become snared in political and planning delays, the British Chambers of Commerce said today. Six key projects remain stuck in the starting blocks, the BCC complained, while a further two have been scrapped for the foreseeable future. The chancellor’s Autumn Statement last year set out details [...]
Inflation stays high ahead of festive season December 18, 2012 INFLATION defied expectations to remain high in November, with consumer price inflation (CPI) staying unchanged at 2.7 per cent year-on-year, according to official figures released yesterday. A large part of the year-on-year increase is a result of price rises in food and non-alcoholic beverages as poor harvests around the globe push up the cost of [...]
Government to put gas at centre of UK’s energy production plans December 3, 2012 GAS will be put at the centre of the UK’s energy plans, with a series of announcements expected from the government this week. George Osborne will use tomorrow’s Autumn Statement to launch a consultation on introducing substantial new tax reliefs for investment in gas-fuelled energy production. Incentives are expected to be offered for up to 26 [...]
Coalition hopes to fill UK energy gap with gas December 5, 2012 THE DASH for gas came a step closer yesterday as the chancellor talked up the importance of the fuel for Britain’s energy security. But there were fears that the incentives offered to gas producers would not be enough to tempt firms to generate enough power to bridge the UK’s looming capacity gap. In the Department [...]
Firms say National insurance holiday would boost hiring November 25, 2012 SIMPLER taxes, an extended national insurance contributions (NICs) holiday and a shake-up of the banking system to promote competition will all help small firms grow, the Federation of Small Businesses (FSB) claimed today, pushing for its members to get help in the Autumn Statement next week. The lobby group’s submission to the chancellor also called [...]