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....Stage three of the process began in June last year when the UK voted to leave the EU. Both the Treasury and the Bank expected this to have dire consequences for the economy, with the then chancellor George Osborne predicting a deep recession and a 500,000 increase in unemployment within two years. ... [Read full article on Guardian ]
Monday 18th of September 2017 05:26:02 PM
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....He says figures he has obtained from HMRC show that the take-up of the marriage allowance is “shockingly low”. It’s perhaps something that passed a lot of people by, but in the December 2013 autumn statement the then-chancellor, George Osborne, announced that the government would be introducing a transferable tax allowance for married couples and civil partners. ... [Read full article on Guardian ]
Saturday 23rd of September 2017 06:00:08 AM
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Latest Finance News related to George Osborne

The £230-a-year marriage allowance you could be missing out on image
Source : Guardian [Read Article] Saturday 23rd of September 2017 06:00:08 AM
....He says figures he has obtained from HMRC show that the take-up of the marriage allowance is “shockingly low”. It’s perhaps something that passed a lot of people by, but in the December 2013 autumn statement the then-chancellor, George Osborne, announced that the government would be introducing a transferable tax allowance for married couples and civil partners. ...
UK debt is explosive – and it only needs a spark to light the fuse | Larry Elliott image
....Stage three of the process began in June last year when the UK voted to leave the EU. Both the Treasury and the Bank expected this to have dire consequences for the economy, with the then chancellor George Osborne predicting a deep recession and a 500,000 increase in unemployment within two years. ...
Hammond eases public sector pay cap, but the squeeze goes on image
Source : Guardian [Read Article] Tuesday 12th of September 2017 06:22:02 PM
....Hammond is so far refusing to be blown off course to save the government abandoning its third attempt to balance the books by a much-publicised future date. After George Osborne scrapped 2015 and then 2020 as the moment the exchequer achieves a budget surplus, he is determined to stick to the 2025 outlined in the manifesto. ...
PR execs behaving badly... What else would you expect? | Catherine Bennett image
Source : Guardian [Read Article] Saturday 9th of September 2017 11:04:21 PM
....As grotesque as it may be for a journalist to criticise members of any other trade, there is, along with the arrival of patchy, much of it Leveson-induced, press self-regulation, evidence of healthy public suspicion about the business and political interests behind, for instance, the Sun’s pro-Sky stories and the Times’s Trump promotion. Similarly, at George Osborne’s Standard, with its unrivalled George Osborne coverage (which is widely predicted to take the coveted Editorial Intelligence George Osborne award for writing about George Osborne, judged by an industry panel composed of George Osborne). ...
FCA must backtrack over Saudi oil giant Aramco | Nils Pratley image
Source : Guardian [Read Article] Thursday 7th of September 2017 11:01:23 PM
....Andrew Bailey, the chief executive of the Financial Conduct Authority, is usually good at reading the breezes. He is the safe-hands operator whom the former chancellor George Osborne switched from the Bank of England to inject some much-needed credibility into FCA after its various calamities. ...
Help-to-buy scheme aids some buyers, but boosts builders even more | Nils Pratley image
.... You bet it is. Since former chancellor George Osborne in 2013 committed to helping homebuyers purchase new properties with a deposit of only 5%, Redrow has reported record profits every year. ...
Rising car insurance – The five minute guide image
Source : Daily Express [Read Article] Sunday 3rd of September 2017 02:34:00 PM
....TAX TRAPS. Motoring organisation the AA says the uptick is deeply depressing, but also predictable, as it warned the number of uninsured motorists would rise after Chancellors George Osborne and Philip Hammond repeatedly hiked insurance premium tax (IPT), which has doubled from 6 per cent in 2015 to 12 per cent in just 18 months. ...
Theresa May urged to force councils to build more homes image
Source : Guardian [Read Article] Sunday 3rd of September 2017 02:06:15 PM
....Successive governments have sought to make property ownership more affordable. Ambitious building targets have rarely been met, and George Osborne’s focus on subsidising mortgages through the help-to-buy scheme was criticised for fuelling the boom. ...
REVEALED: State pension losers and winners from major National Insurance changes  image
Source : Daily Express [Read Article] Wednesday 30th of August 2017 03:58:00 PM
....45. Under changes put in place by former chancellor George Osborne, Class 2 National Insurance Contributions (NIC) will be axed from April 2018. ...
All aboard the north’s rail powerhouse image
Source : Guardian [Read Article] Saturday 26th of August 2017 02:59:39 PM
.... An IPPR North report claimed that the north would have received £59bn more transport investment if it matched London levels; and a petition to demand just that clocked up 80,000 signatures. Debate was further stirred last week by George Osborne, the former chancellor, who called on the government to build a fast line from Liverpool to Hull and reaffirm its wavering commitment to a northern powerhouse. ...
Quantitative easing is a costly habit we should have kicked long ago | Larry Elliott image
.... Instead, he took to Twitter to compare QE to heroin: ever bigger doses are needed to get a high. Did Macpherson say this when he was working for Alastair Darling, who originally gave the Bank of England permission to start QE, or George Osborne, who said the economy needed more of it? We won’t know that until the records of the Great Recession and its aftermath are released in a couple of decades, but if he did the warning was not heeded. ...
Quantitative easing is like heroin, says former Treasury official image
Source : Guardian [Read Article] Monday 21st of August 2017 12:50:12 PM
.... Time to move on. The former senior civil servant was writing in response to George Osborne’s former adviser Rupert Harrison, now a fund manager at BlackRock, who had tweeted a link to a Financial Times article on pressures facing the ECB to taper its QE programme. ...
There are now more than 1,000 tax relief schemes. Give us a break image
Source : Guardian [Read Article] Sunday 20th of August 2017 06:00:35 AM
....Every government, including David Cameron’s coalition with the Liberal Democrats, has promised to cut back on the number of reliefs and tackle the avoidance and evasion it inevitably promotes, and each has failed. In fact Cameron’s government increased the number of reliefs by almost 100, according to the Office for Tax Simplification, an agency that then-chancellor George Osborne founded in 2010. ...
Second-home ownership up 30% since 2000, research finds image
Source : Guardian [Read Article] Saturday 19th of August 2017 03:54:34 PM
....”. Last year, the then chancellor, George Osborne, imposed a sharp rise in stamp duty for those buying second homes in England, Wales and Northern Ireland. ...
UK pay growth picks up as unemployment rate falls again image
Source : Guardian [Read Article] Wednesday 16th of August 2017 08:36:46 AM
....The ability of the economy to generate new jobs contradicts warnings by the Treasury before last year’s EU referendum that a vote to leave would lead to a sharp rise in the jobless total. The then chancellor George Osborne predicted that unemployment would rise by 500,000 within two years of a vote to leave. ...
RBS preparing to cut nearly 900 IT jobs, says union image
Source : Guardian [Read Article] Tuesday 15th of August 2017 02:33:43 PM
....The shares are trading at around 265p – compared with 502p that was paid on average during the bailouts in 2008 and 2009, when £45bn of taxpayer funds were used. Hammond’s predecessor, George Osborne, sold off a 5% stake in 2015 at 330p a share – a £1bn loss. ...
UK may have to pay EU in temporary customs union, Davis suggests image
Source : Guardian [Read Article] Tuesday 15th of August 2017 08:32:19 AM
.... James did a great job for me as my chief of staff but even the day he arrived he was a remainer,” Davis said. Chapman, who had previously been special adviser to the chancellor George Osborne and the Daily Mail’s political editor, responded with a series of tweets criticising Davis. ...
Ten years after the crash, there’s barely suppressed civil war in Britain | Aditya Chakrabortty image
.... Three-quarters of the combined working lives of its members had been spent either at a bank, or in a closely related field. George Osborne’s version was the Vickers report – 40% of whose authors were ex-bankers. ...
10 years after the crash, alternatives are emerging | Letters image
Source : Guardian [Read Article] Thursday 10th of August 2017 06:12:03 PM
....When he writes “there is not some magic bullet”, it resonates with the now discredited “myth” that “there is no magic money tree”, employed by Thatcher, Cameron and May. After all, from his time in the department he must surely have been aware that in 2013, tucked away in the bundle of Treasury documents tabled by the then chancellor, George Osborne, on budget day, was one with this paragraph: “For example, it is theoretically possible for monetary authorities to finance fiscal deficits through the creation of money. ...
Living costs rising twice as fast as inflation, new figures reveal image
Source : Daily Express [Read Article] Wednesday 9th of August 2017 10:50:00 AM
....Home and motor insurance costs are accelerating sharply too after repeated hikes in insurance premium tax (IPT). Former Chancellor George Osborne and successor Philip Hammond have increased IPT three times since November 2015, doubling it from 6 to 12 per cent. ...
Payment in gold bullion banned under new law to combat tax evasion image
Source : Guardian [Read Article] Monday 7th of August 2017 05:33:52 PM
....An expert tax avoidance panel has ruled that paying employees in gold is a “contrived” tax avoidance scheme designed to “frustrate the intent of parliament” in cracking down on such practices. It is the first application of the general anti-abuse rule (GAAR) panel since it was introduced by former chancellor George Osborne in 2013 as part of a package of measures to tackle tax evasion. ...
Only a big-spending budget can save us from years of low interest rates image
Source : Guardian [Read Article] Saturday 5th of August 2017 04:00:16 PM
.... Increasing rates would kill the patient, not shake it out of a lazy torpor. It was politically expedient for George Osborne to use the Bank to support the economy while he slashed at welfare, public services and infrastructure spending. ...
Help To Buy: Fears first-time buyer scheme will be AXED image
Source : Daily Express [Read Article] Friday 4th of August 2017 03:33:00 PM
....A different strand of the scheme provides a loan for a 20 per cent deposit to first-time buyers who have saved at least five per cent. The scheme was introduced under David Cameron and George Osborne to help struggling first-time buyers on to the ladder. ...
How Britain fell out of love with the free market image
Source : Guardian [Read Article] Friday 4th of August 2017 05:00:34 AM
.... Tory economic policy has swerved suddenly rightwards before. Faced with the aftermath of the financial crisis, Cameron and his chancellor, George Osborne, quickly dropped Red Toryism and instead told Britons to toughen up for “the global race” – their phrase for an ever-more competitive capitalism. ...
Angry at British Gas price hike? Save your fury for the government image
Source : Guardian [Read Article] Tuesday 1st of August 2017 07:12:54 PM
.... It would be churlish not to admit it is a well-managed business that has been an excellent investment. All the same, the directors have also enjoyed luck beyond their dreams in the form of a buoyant housing market, especially in its London and south-east heartland, and George Osborne’s help to buy wheeze. ...
No 10 contradicts Hammond over 'off the shelf' Brexit transition deal image
....There was scepticism in some quarters about the UK’s ability to negotiate a transitional deal that is not based on an existing model. James Chapman, the former special adviser to the former chancellor George Osborne and the Brexit secretary, David Davis, said a rejection of an “off the shelf” model was “madness” given the timescale. ...
Chancellor appoints Sir David Ramsden to Bank of England deputy role image
Source : Guardian [Read Article] Thursday 27th of July 2017 05:28:15 PM
....The chancellor said Sir David, who is the Treasury’s chief economic adviser, would take up the role as deputy governor of markets and banking, making him Threadneedle Street’s eyes and ears on the banking sector while also giving him a position on the nine-strong monetary policy committee (MPC). City analysts said they expected Sir David, who advised Hammond and former chancellor George Osborne on the government’s austerity programme, to vote with the bank’s governor Mark Carney and the majority of the MPC to hold interest rates when he takes up his post on 4 September. ...
The UK’s Brexit negotiators are powered by little more than hope image
Source : Guardian [Read Article] Saturday 22nd of July 2017 04:00:42 PM
.... Maybe we shouldn’t be surprised that the government is so cavalier. If ever there were two people who thought planning was boring and that most things could be achieved if carried through with elan and fortitude, it was George Osborne and David Cameron. ...
We can only address pay imbalances if we can see them | Nils Pratley image
Source : Guardian [Read Article] Wednesday 19th of July 2017 06:43:44 PM
.... Coal, which is burned in three of the six units in the giant North Yorkshire plant, will be off the grid by 2025 on current government plans. As for biomass, which is in the other three units, the former chancellor George Osborne changed the outlook for the worse when he overhauled the subsidy regime in his 2015 budget. ...
Now we find out the real cost of austerity – our lives cut short | Owen Jones image
.... And yet new research by an ex-government adviser, Sir Michael Marmot, suggests that the rise in life expectancy – a constant trend for a hundred years – has stalled since 2010. What happened that year, exactly? Was that not when David Cameron, George Osborne and their Lib Dem stooges began slashing public services with a false economic pretext?. ...
Election euphoria won’t last if Labour doesn’t foil Brexit folly image
Source : Guardian [Read Article] Sunday 16th of July 2017 05:59:13 AM
....Now, one of the many rival, or complementary, explanations for the recent election result was that it constituted a final revolt against austerity. The Labour party under Jeremy Corbyn and John McDonnell most certainly struck a chord with its emphasis on the economic and social damage George Osborne’s austerity policies have wrought – and which, despite some minor concessions, are still largely in force. ...
The Taylor review could make things worse for workers. What a surprise | Owen Jones image
.... But moral guidance will not win workers the rights they deserve: unscrupulous employers will only respect a strictly enforced law. It was George Osborne who pushed for the Tories to be rebranded as the workers’ party. ...
House price pick-up allays fears of property market crash image
Source : Daily Express [Read Article] Sunday 9th of July 2017 03:37:00 PM
....Simon Checkley, managing director at mortgage broker Private Finance, expects London prices to stay flat this year, with moderate growth elsewhere. He blames the slowdown on former chancellor George Osborne’s move to hike stamp duty on £1 million-plus properties, rather than economic fears: “This has dampened prices and incentives to move at the upper end of the market, resulting in a lack of supply at lower levels. ...
Theresa May defends public sector pay cap under pressure from Labour image
Source : Guardian [Read Article] Wednesday 5th of July 2017 07:23:29 PM
.... That does not help nurses or patients,” she said. Comparisons with Greece were repeatedly used by George Osborne in 2010 to justify public spending cuts, as riots erupted on the streets of Athens over the stringent bailout conditions imposed by the International Monetary Fund and the eurozone. ...
Worldpay shareholders should decline its meek merger deal | Nils Pratley image
....4%, which was merely remarkable at the time. So are these stupendous returns being recycled into a building frenzy, thereby proving the wisdom of George Osborne’s prophecy when he introduced Help to Buy in 2013 that, by stimulating demand for houses, he would encourage supply?. ...
George Osborne came within weeks of scrapping the penny image
Source : Guardian [Read Article] Friday 30th of June 2017 06:47:41 AM
. George Osborne came within weeks of announcing plans to take 1p and 2p pieces out of circulation but was stopped by David Cameron who feared the symbolism of the Conservative party scrapping the penny, the Guardian has been told. ...
Osborne gets job number six – an honorary professorship in Manchester image
Source : Guardian [Read Article] Thursday 29th of June 2017 11:40:34 AM
. George Osborne, the editor of the Evening Standard and former chancellor of the exchequer, has added a sixth job to his portfolio – that of honorary professor of economics at the University of Manchester. ...
With politics turned on its head, Labour sticks to Brexit ambiguity image
Source : Guardian [Read Article] Sunday 25th of June 2017 01:05:57 PM
.... What might be called Labour’s hardline remain faction says Britain could have the best of both worlds: it could have the political upheaval caused by Brexit, which has weakened the Conservatives, while at the same time maintaining the economic status quo. The UK would be back where it was before the referendum, only with Corbyn and John McDonnell running things instead of David Cameron and George Osborne. ...
Jailing Barclays bankers won’t save us from another financial crash | Joris Luyendijk image
.... Others found new work after their time in politics was over, with Tony Blair taking a reported £2m a year as a fixer for JP Morgan. George Osborne, Britain’s former chancellor, was the latest big name to join the industry, netting about £650,000 for four days a month at the US fund manager BlackRock. ...
London could lose out as ECB seeks control of euro clearing after Brexit image
....The argument about where euro clearing should take place raged even before the referendum. George Osborne, when he was chancellor, had taken the matter to the court to fight an attempt by the ECB to argue that clearing houses – such as the LCH – should be based in the eurozone when they handle trades in euros. ...
Pain without gain: the truth about austerity | Phillip Inman image
Source : Guardian [Read Article] Sunday 18th of June 2017 04:54:09 PM
.... Together with April’s shocker, when government borrowing was higher than the same month last year, the first two months of this financial year are forecast to show the borrowing requirement for the year is on track to be higher, not lower than last year. When David Cameron and George Osborne were in Downing Street, bringing down the deficit was the main aim of domestic policy. ...
Philip Hammond hints government will ease up on austerity image
Source : Guardian [Read Article] Sunday 18th of June 2017 09:51:43 AM
....”. In interviews on the Andrew Marr Show and Peston on Sunday, Hammond stressed that he had already taken some steps to relax the austerity programme set by his predecessor, George Osborne. ...
Why the political uncertainty won't shake house price foundations   image
Source : Daily Express [Read Article] Sunday 18th of June 2017 09:46:00 AM
....Some may like to blame electoral and Brexit uncertainty, but they would be wrong. The prime suspect is Chancellor George Osborne, whose tax assault on foreign property buyers and domestic investors has hit demand in the capital. ...
Brexiters have voted for a poverty even worse than austerity image
Source : Guardian [Read Article] Sunday 18th of June 2017 06:00:04 AM
....The terrible thing about the prospect of Brexit is that our underlying economic situation is already bad enough, and the Brexit decision, if not reversed, is guaranteed to make things a lot worse. In economics there are time lags between announcements and their consequences, and under George Osborne the Treasury overdid its warnings about the timing of the referendum’s effects. ...
Attlee, Labour and the battle against austerity | Letters image
Source : Guardian [Read Article] Friday 16th of June 2017 06:13:02 PM
.... It has fed rapacious cost-cutting, with devastating consequences – which fill your pages this week. The architect of this austerity, George Osborne, now London Evening Standard editor, suggests the misery should continue. ...
City's Mansion House dinner cancelled after Grenfell Tower fire image
Source : Guardian [Read Article] Thursday 15th of June 2017 01:46:46 PM
....”. Last year, Hammond’s predecessor, George Osborne, had to alter the speech he had intended to deliver following the murder of the Labour MP Jo Cox. ...
Farming is a fresh field for Michael Gove's slash and burn politics image
Source : Guardian [Read Article] Sunday 11th of June 2017 08:08:48 PM
....At the justice department, he was working on plans for reforming prisons, including bringing in league tables, before he was booted out by Theresa May. Some of the cabinet ministers sacked in the unexpectedly brutal reshuffle when May arrived in Number 10 Downing Street last summer have spent the past year reaping their revenge – in George Osborne’s case, with evident glee. ...
Theresa May's election victory will prove pyrrhic indeed image
Source : Guardian [Read Article] Sunday 11th of June 2017 01:25:35 PM
.... Strong lobbying from the CBI, the City and international investors will discourage Britain from walking away from negotiations. As George Osborne pointed out on the Andrew Marr Show, a “no deal” outcome would not be acceptable to the DUP because it would mean a hard border between Northern Ireland and the Irish Republic. ...
Austerity has strangled the British economy. Only Labour gets this | Joseph Stiglitz image
....The idea that government debt is a particular burden has a kind of intuitive appeal. The former Conservative chancellor George Osborne would talk about “maxing out the credit card”, so governments would have to balance the books, and couldn’t borrow. ...
Skipton Building Society to launch cash Lisa – that’s a lifetime Isa  image
Source : Daily Express [Read Article] Tuesday 6th of June 2017 02:36:00 PM
....Lifetime Isas, or Lisas, can be opened by people aged between 18 and 39 to save for their first home, or their retirement, in the same pot, with a government bonus added. Lisas were unveiled during the Budget in March 2016 by the then chancellor, George Osborne. ...
Let’s hope a hung parliament can halt the Brexit disaster image
Source : Guardian [Read Article] Sunday 4th of June 2017 05:59:15 AM
....This was all lost after the financial crisis – a crisis that itself illustrated how the lessons of the 1920s had been forgotten, most of which are readily available in JK Galbraith’s book The Great Crash 1929. George Osborne’s misconceived austerity programme hardly constituted the kind of policy for growth that would encourage business to invest in the pursuit of gains to productivity. ...
Car insurance costs to rocket as tax hike comes into force tomorrow image
Source : Daily Express [Read Article] Wednesday 31st of May 2017 08:46:00 AM
....That means that anybody renewing their motor insurance policy from tomorrow will pay IPT at the new higher rate of 12 per cent, up from 10 per cent. Hammond and predecessor George Osborne have both used IPT as a stealth tax, knowing millions of motorists cannot steer around it. ...
Crossrail 2 hits buffers as uncertainties over Brexit and election take hold image
.... A political consensus was forming that a second mass-transit line across London should be built from north to south, its urgency underpinned by the verdict of the National Infrastructure Commission (NIC) that this was the most important single project for Britain and work needed to start now. The then chancellor George Osborne duly doled out £80m to get the ball rolling, expecting a hybrid bill in the same parliament. ...
Labour’s hope doesn’t usually play well in an age of anxiety image
Source : Guardian [Read Article] Saturday 27th of May 2017 04:00:32 PM
....Three years ago, oil prices were still high and the jobs boom of 2015 and 2016 had yet to arrive. The then chancellor, George Osborne, had already relaxed his tough post-crash austerity measures, but a slowdown in the pace of cuts had yet to take effect. ...
From tax to Brexit, the Tories will do anything to stay in power image
Source : Guardian [Read Article] Sunday 21st of May 2017 06:00:47 AM
.... Norman Lamont fell out with John Major. George Osborne fell out with May many times when she was home secretary but did not get the chance to confront her over policy when she became prime minister because she sacked him on day one. ...
Lloyds claims taxpayers have made £900m profit from bailout image
Source : Guardian [Read Article] Wednesday 17th of May 2017 07:37:15 AM
.... The bank is also in the throes of taking over credit card firm MBNA which will take its share of the market to 26% and add to its financial dominance: Lloyds has a 25% share of current accounts, 22% of retail deposits and 21% of mortgages. Despite Hammond’s celebratory remarks, the sell-off has not taken place as envisaged by his predecessor George Osborne who had aimed to hold a discounted share sale to the public – which had to be abandoned when Lloyds shares slumped. ...
Labour's water renationalisation plan is a damp squib | Nils Pratley image
Source : Guardian [Read Article] Tuesday 16th of May 2017 07:34:13 PM
.... The government can also claim a profit of a sort – maybe about £500m – even though that’s an odd way to look at things since there would have been many better ways to invest £20bn. But at least the exit has been achieved without George Osborne’s silly idea of offering shares to the public at a discount. ...
Share sale returns Lloyds to private sector image
Source : BBC [Read Article] Tuesday 16th of May 2017 04:54:38 PM
....But taking the dividend payments into account means the total £20bn outlay has already been repaid. Former chancellor George Osborne had hoped to offer the shares at a discount direct to the public, with a campaign similar to the classic Tell Sid campaign for British Gas in the 1980s. ...
JP Morgan appears to make good on Brexit threat with new Dublin office image
.... JP Morgan has previously said it needs to be ready for a situation where there is not a deal over passporting – the means by which firms operate seamlessly across the EU – for the UK after Brexit. JP Morgan is being scrutinised because, in the run-up to the EU referendum last June, the bank’s chief executive Jamie Dimon stood alongside the then chancellor, George Osborne, to warn that up to 4,000 roles could be lost. ...
Philip Hammond calls China a 'natural partner' as he seeks post-Brexit trade deals image
....Relations between London and Beijing soured after Theresa May became prime minister in July and ordered a review of the controversial China-backed Hinkley Point C plant. That decision cast doubt on what had previously been cast as a “golden age” of ties under her predecessor David Cameron and former chancellor George Osborne. ...
Theresa May will cause more poverty than Thatcher, Gordon Brown warns image
....Household budgets of less well-off families have received a double blow this year. Wages have failed to keep pace with prices, while cuts to tax credits have come into force after being announced by George Osborne in 2015 as part of a renewed attempt to reduce the size of Britain’s budget deficit. ...
National minimum wage increases could cost jobs, IFS warns image
Source : BBC [Read Article] Wednesday 10th of May 2017 11:30:22 PM
.... Those between the age of 18 and 24 qualify for the NMW, while those over 25 qualify for the higher NLW. When he was chancellor, George Osborne said the level should reach £9 an hour by 2020. ...
Smirnoff owner Diageo to pay HMRC £107m in 'Google tax' crackdown image
Source : Guardian [Read Article] Wednesday 10th of May 2017 06:54:14 PM
.... The firm will not make a provision to cover the payment. The multinational tax legislation was introduced by the former chancellor, George Osborne, and came into law in April 2015. ...
Dramatic minimum wage rises will put low-paid jobs at risk, says IFS image
Source : Guardian [Read Article] Wednesday 10th of May 2017 05:47:26 PM
....The IFS report argued modest increases in the minimum wage recommended by the low pay commission each year from its inception in 1999 until 2015 succeeded in raising wage levels at the low end of the pay scale without hurting job creation. Former chancellor George Osborne created NLW, which applied to people aged 25 and over and paid £7. ...
Labour looks at  new tax bracket for those earning £80k-£150k image
Source : Guardian [Read Article] Sunday 7th of May 2017 10:20:48 AM
....”. When Labour was in government it introduced a 50p rate of tax on those earning £150,000 after the financial crisis in 2010, but the rate was cut to 45p by George Osborne in 2013. ...
HSBC chairman Douglas Flint recalls the good, the bad and the scandalous image
....It was a jaw-dropping, reputation-shredding time for the bank, especially the revelations that its Mexican branches had taken vast cash deposits from local drug barons, even making the tellers’ windows bigger so they were wide enough to accept their boxes of money. Without that DPA – which former chancellor George Osborne helped to secure – HSBC, which is valued at £132bn on the stock market, could have lost its licence to operate in the US, with repercussions that could have threatened the bank’s future. ...
The Guardian view on the Bank of England: independence and accountability | Editorial image
....With its pre-crisis failures conveniently forgotten, the Bank’s sway increased. George Osborne gave it back power to police the City and established a new financial policy committee with wide-reaching powers, including the right to decide how much a citizen could borrow for a mortgage. ...
Alarm sounded over delays to develop UK mini nuclear reactors image
Source : Guardian [Read Article] Tuesday 2nd of May 2017 10:58:50 AM
....The government’s failure to deliver on a multimillion-pound competition to develop mini atomic power stations has hurt the nuclear sector and risks international companies walking away from the UK, a Lords committee has warned. In 2015 the then chancellor George Osborne promised £250m over five years for a nuclear research and development programme, an undisclosed sum of which was for a competition to pave the way for small modular reactors. ...
George Osborne's first day as Evening Standard editor image
Source : BBC [Read Article] Tuesday 2nd of May 2017 01:27:43 AM
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