Budget 2015: City hit by Google tax and bank levy hike March 18, 2015 The government's bank levy will be increased by 0.21 per cent, in an effort to raise £900m, the chancellor announced today. The measures were being taken so banks "make a bigger contribution to the repair of our public finances", George Osborne said during his Budget speech. Lenders will also be prevented from offsetting PPI compensation [...]
Budget 2015: What to watch out for today March 17, 2015 WHO: GEORGE OSBORNE WHEN: 12.30PM TODAY WHERE: HOUSE OF COMMONS WHAT WE ALREADY KNOW A further shake up of pensions Over 55-year-olds who had previously been forced to buy an annuity will be able to sell it for a lump cash sum to use as they wish, instead of receiving the regular payouts, building on reforms from [...]
George Osborne Budget 2015: Here’s everything we already know March 16, 2015 Chancellor George Osborne is busily putting the finishing touches to his final Budget speech for this parliament, and while he's been keen to stress fiscal constraints mean it's going to be rather light on the ground, here's a quick round-up of what people think he'll pull out of the red box tomorrow: "No giveaways, no [...]
Budget 2015: Six things we expect to see in Wednesday’s announcement from George Osborne March 15, 2015 There will be no giveaways in the 2015 Budget, George Osborne has said. The Budget will be aimed at those who have worked hard all their lives, the chancellor said. But with no giveaways on the menu, what can we expect? Osborne told the BBC there would be “no giveaways, no gimmicks”. “Everything we do [...]
East Coast rail line returns to private hands after Virgin Trains and Stagecoach bid to end public ownership March 1, 2015 The East Coast mainline returned to private hands yesterday following last November’s successful bid by Virgin Trains and Stagecoach to operate the line after five years of public ownership. The £3.3bn contract, which sees the consortium branded Virgin Trains East Coast running the line for the next eight years, has divided political opinion along party [...]
City jobs drive UK productivity as sector grows: Average finance worker contributes £85,000 to the economy each year December 21, 2014 The City is continuing to punch above its weight to boost productivity in the economy, figures out today reveal. Around 2.1m people now work in the finance and professional services industry across the nation. This represents only 7.2 per cent of the UK’s workforce, but contributes 12 per cent of the UK’s £1.5 trillion total [...]
These four charts show how much each region contributed to the UK’s economy last year December 10, 2014 George Osborne's dream of creating a “northern powerhouse” might have taken a step closer to coming true. Last year the North West and Wales had the biggest jump in gross value added (GVA) per head out of all the regions in the UK, with both up 3.4 per cent on the previous 12 months. [...]
Autumn Statement 2014: Rich pickings for George Osborne – banks, mansions, multinationals, tobacco December 3, 2014 George Osborne delivered sweeping reforms to property tax yesterday, in an Autumn Statement that aimed to raise extra billions from banks, tobacco companies, international corporations and buyers of expensive properties. Attempting to knock the wind out of Ed Miliband’s Labour party, the chancellor sought to neutralise several of the opposition’s key policies, taking on the [...]
London can’t build a robust UK economy alone: We must unlock the regions November 30, 2014 In my first official engagement as lord mayor outside the M25, visits to Liverpool and Manchester were ideal places to kick-start my programme for the year. While my time in each northern powerhouse city was limited, it helped to set my agenda for the forthcoming year. Politicians love the term “rebalancing the economy”. It’s kept [...]
Labour’s VAT jibe is political hot air, George Osborne won’t bite November 26, 2014 It’s that time of year again folks. The Christmas adverts have taken root on our TV screens and Marks and Spencer has its “tastefully festive” album playing in store. That’s right, the Autumn Statement is just around the corner and boy what a stocking full of goodies the chancellor is preparing to give away this [...]