Coalition hits out on Heathrow March 4, 2012 THE GOVERNMENT said yesterday it will not reconsider a third runway at Heathrow, batting away fresh claims from businesses and interest groups that more air capacity is desperately needed to support economic growth. “The government does not support the development of a third runway at Heathrow because of the unacceptable environmental consequences it would bring,” [...]
There’s no need to fear the return of retail investors May 7, 2012 LAST week, I was having a Twitter conversation with viewers about Google’s top three autofills for the search query “I want to buy…” The answers that came back varied depending on which country or state the viewer was in. In the US, people want to buy houses, cars, and, in some places, guns. In Sweden, [...]
North Sea oil wins subsidies March 21, 2012 THE GOVERNMENT has tried to make up for last year’s oil and gas tax raid by promising to help out explorers in parts of the North Sea and clear up tax rules on decommissioning. Shares in North Sea explorers spiked yesterday lunchtime as George Osborne unveiled a £3bn subsidy for drilling in the West of [...]
Banks split on £20bn loan plans March 19, 2012 THE GOVERNMENT has been dealt a blow in its flagship credit scheme for small businesses after it failed to get all of the UK’s major banks on board. HSBC, which accounts for 15 per cent of the small business banking market, will not participate in the National Loan Guarantee Scheme (NLGS) unveiled today because the [...]
Bold businesses must be able to grow in Britain March 18, 2012 FAIRNESS has rightly become central to the Budget debate. Personally I would like to see the income tax threshold raised, to allow lower earners to keep more of their hard-earned cash. But a bigger test of success for this Budget will be what measures the chancellor can introduce to drive economic growth. By the chancellor’s [...]
GREEKS PASS BILL AS ATHENS BURNS February 12, 2012 VIOLENT protesters stormed through central Athens last night setting fire to buildings as politicians passed a series of unpopular austerity measures. Cinemas, Starbucks cafés, banks and other commercial properties burned into the night, after up to 100,000 Greeks took to the streets. Inside parliament, a mammoth 10-hour debate culminated in support for the package of [...]
Time for Russia 2.0: Putin’s return promises an economic revolution April 29, 2012 THE Western European view of Russia has not moved with developments in the country since the crash of 1990. To the Western media, Russia remains a kleptocracy run by the mafia. It is seen as secretive, corrupt, plutocratic, hugely unequal and unjust. Yet the challenges that Russia faces are not unique in the world of [...]
ECB pumps new funds into banks February 29, 2012 Banks grabbed 530bn euros at the European Central Bank’s second offering of cheap three-year funds, fuelling hopes that more credit will flow to businesses and government borrowing costs will ease further. A total of 800 banks borrowed money at the tender, with demand exceeding the 500bn euros expected by traders polled by Reuters and well [...]
Calls for end to 50p tax as Osborne mulls faster allowance hike March 18, 2012 THE TAX-FREE allowance could be raised faster than previously planned in Wednesday’s budget, City A.M. understands, as part of a major deal to reduce taxes on workers at both ends of the income distribution. Chancellor George Osborne yesterday promised that “the bulk” of new measures announced will benefit people on low and middle incomes, as [...]
Calls for end to 50p tax as Osborne mulls faster allowance hike March 18, 2012 THE TAX-FREE allowance could be raised faster than previously planned in Wednesday’s budget, City A.M. understands, as part of a major deal to reduce taxes on workers at both ends of the income distribution. Chancellor George Osborne yesterday promised that “the bulk” of new measures announced will benefit people on low and middle incomes, as [...]