There was no other choice – now George Osborne must hold his nerve October 20, 2010 IT was a timely reminder that action is desperately required to tackle Britain’s out of control budget deficit. At 9:30 yesterday morning, a full three hours before George Osborne got up to deliver his spending review to the House of Commons, the latest monthly budget deficit figures popped up on traders’ screens across the City. [...]
Chancellor hikes VAT to 20 per cent June 22, 2010 George Osborne dubbed the budget the “unavoidable budget” as he pledged to bring public finances back into line – announcing a hike in VAT to 20 per cent. The chancellor unveiled a massive cost-cutting campaign including limiting housing benefit payments and freezing child benefit. A total of £11bn will be wiped off welfare spending by [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 19, 2009 FINANCIAL TIMES FURTHER VAT RISES LIKELY AS EUROPE SETS THE PACEBritain will be levying the fifth-lowest value-added tax rate in Europe after it reverts to 17.5 per cent in January, according to a survey that is likely to reinforce expectations of further rises after the general election. A survey by KPMG, the professional services group, [...]