Austerity can’t have hurt UK growth because austerity hasn’t yet begun January 28, 2013 IN ORDINARY parlance, “austerity” means a period of cutbacks, spending reductions, and debt being paid down. So when voters hear talk of government austerity, most of them assume that’s what the government is doing. When they hear (a few) economists saying that weak growth has resulted from “austerity”, voters think cuts to public sector pay [...]
Think tank slams plan to splash out on UK broadband arms race January 7, 2013 GOVERNMENT spending on broadband infrastructure has been criticised by an influential think tank, which claims ministers should instead focus on educating people about internet connections. In a report published today, the Policy Exchange is calling for culture secretary Maria Miller to “end the broadband arms race” and stop the “fixation with having the fastest broadband [...]
Ocado boosted by Christmas shopping rush January 15, 2013 ONLINE grocer Ocado said it enjoyed a very merry Christmas after posting a 14 per cent rise in gross sales to £91.6m in the six weeks to 6 January. “It was a very good festive season for us, evidenced by growth in orders, basket size and sales,” chief executive Tim Steiner said. “As has been seen [...]
Shock collapse in Philly Fed poll contradicts upbeat jobless data January 17, 2013 FACTORY activity in the key mid-Atlantic region fell back into decline in January, US data revealed yesterday. But across the US as a whole, 37,000 fewer new unemployment insurance claims were made in the week ending 12 January, when adjusting for seasonal variations – giving a much more optimistic picture of the economy. However, the broader [...]
Letters to the editor January 29, 2013 Spending restraint [Re: Austerity can’t have hurt UK growth because austerity hasn’t yet begun, yesterday] I’m surprised that commentators continue to suggest that austerity is a policy, not an outcome. It is the latter. No sane leader would wish to impose austerity on his or her people. But, as in the immediate aftermath of the [...]
How an Isa could earn you a million February 26, 2013 The route to tax-free prosperity is simple AS THE end of another tax year approaches, there is still time for investors to shelter up to £11,280 from taxation. But with most experts predicting cash Isas will undershoot inflation, it is surprising that, although close to half of the UK’s adult population holds an Isa, very [...]
Reits granted tax incentive December 5, 2012 THE GOVERNMENT has confirmed it is to introduce new legislation allowing real estate investment trusts (Reits) to invest tax-efficiently in each other. The announcement, made alongside the Autumn Statement yesterday, was welcomed by the industry who said giving Reits the same tax freedom as investing in physical buildings would boost investment into the property sector. [...]
Private Finance Initiative to be replaced in Autumn Statement December 3, 2012 THE CONTROVERSIAL Private Finance Initiative (PFI) will be replaced with a new programme designed to be cheaper and faster, chancellor George Osborne will say in tomorrow’s Autumn Statement. PFI, which sees the public sector partner with private companies to fund and operate long-term infrastructure projects, will be replaced with Private Finance 2 (PF2). The new scheme will include [...]
Housebuilders welcome further funding boost to spur growth November 22, 2012 HOUSEBUILDERS and industry executives welcomed government plans yesterday to provide an extra £225m funding to help unblock a number of stalled schemes to deliver 48,600 new homes. Speaking at the National House-Building Council annual lunch deputy prime minister Nick Clegg warned that the UK has “been under-building for decades” with more than 100,000 homes needing [...]
CITYA.M. Guide to givers 2012 December 20, 2012 Welcome to City A.M’s second annual Guide to Givers, bringing to the limelight business individuals and organisations that have donated not just their resources, but also their time and effort towards improvements for those less fortunate than themselves. As belts are being tightened, public charitable spending is understandably at a significant low point, putting emphasis [...]