LONDON TURNS OUT IN FORCE TO WATCH FINAL ELECTION SHOWDOWN May 6, 2010 FITTINGLY for one of the most important elections in this country’s history, turnout smashed expectations yesterday – and we’re talking of the bars, pubs and restaurants of London, rather than of the polling stations. The City, eager to know what the next government will have in store for them, flocked to parties as the results [...]
Public sector pensions add to pay boost March 31, 2010 GENEROUS public sector pension packages have seen government workers’ total pay rise much faster than their private sector counterparts, a leading think-tank has said in a study published today. The Institute for Fiscal Studies (IFS) found that public sector workers saw their total remuneration improve by 10 per cent in real terms compared to just [...]
Tory manifesto wins round City April 13, 2010 BUSINESS gave a cautious thumbs up to the Tory manifesto yesterday, but economists criticised the party for failing to explain how it will repair the battered public finances. David Cameron, who unveiled the manifesto at a glitzy launch in Battersea power station, said he was issuing “the biggest call to arms the country has seen [...]
BUSINESS SUPPORTS TORY TAX CUT PLANS March 29, 2010 GEORGE Osborne’s plans to cut National Insurance yesterday met with a flurry of support from the business world, as the shadow chancellor clashed with his 11 Downing Street rivals in a live televised debate. Osborne used the morning of the Channel 4 debate against chancellor Alistair Darling and Liberal Democrat Vince Cable to launch his [...]
Lambert and Mandy in row over loan cop March 28, 2010 RICHARD Lambert yesterday hit back at Lord Mandelson in a public spat over government plans for a quango that could force banks to lend to small firms. Mandelson launched a scathing attack on Lambert at the weekend, after the director general of the CBI said the thinking behind the small business credit adjudication service – [...]
BG defends chief’s £28m pay bonanza April 5, 2010 BG GROUP has defended its chief executive’s stratospheric pay package ahead of a vote on remuneration by shareholders at its annual general meeting in May. Frank Chapman more than doubled his compensation to £28m in 2009 after exercising a large chunk of share options. Although his basic salary and bonus came to £2.7m, the bulk [...]
EU-wide maternity plans would cost Britain £2bn February 24, 2010 CONTROVERSIAL plans to introduce a Europe-wide standard on maternity leave would cost Britain £2bn per year, business leaders warn. MEPs have backed a minimum period of 18 weeks’ maternity leave on full pay, a huge extension of the six weeks currently available at 90 per cent pay in the UK. Labour ministers were urged not [...]
The big freeze hits January retail sales as shoppers avoid high street stores January 27, 2010 THERE was more gloom for the UK’s economy yesterday after retail sales for January look likely to have stalled after snow and the VAT hike kept shoppers away from the high street. The Confederation of British Industry’s (CBI) monthly distributive trades survey showed that the balance of retailers reporting an increase in sales fell to [...]
Business and King welcome spending cuts May 12, 2010 BANK OF ENGLAND governor Mervyn King yesterday hailed the new coalition government’s plans for an immediate £6bn cut in public spending to tackle Britain’s record peacetime deficit, saying it was imperative that Britain’s fiscal problems are dealt with sooner rather than later. Breaking from his traditional silence on fiscal policy, the governor said he had [...]
Business slams Labour pledges April 12, 2010 BUSINESS leaders and economists rounded on Labour’s election manifesto yesterday, accusing the party of refusing to face up to the terrible state of the public finances. Gordon Brown, who unveiled the manifesto at a hospital in Birmingham, claimed an historic fourth term for Labour would lead to a “fairer, greener … and more prosperous” country. [...]