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....Lord Cromwell, the chair of the all-party parliamentary group on fair business banking, said he was very concerned about the progress of the compensation scheme, which he described as a “running sore”. “Colleagues in both Houses of Parliament are very concerned, and are increasingly raising formal questions, about how this matter is being conducted” he said. ... [Read full article on Guardian ]
Friday 21st of July 2017 07:00:12 AM
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....The deputy Labour leader and shadow culture secretary, Tom Watson, chastised Bradley, saying she did not need to operate on Fox’s corporate timeline and there was no need to come back with a decision while parliament was in recess. “Parliament must have the opportunity to scrutinise any decision she makes,” he said. ... [Read full article on Guardian ]
Thursday 20th of July 2017 11:26:27 AM
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Latest Finance News related to Parliament

Lloyds compensates only five victims of HBOS fraud scandal image
Source : Guardian [Read Article] Friday 21st of July 2017 07:00:12 AM
....Lord Cromwell, the chair of the all-party parliamentary group on fair business banking, said he was very concerned about the progress of the compensation scheme, which he described as a “running sore”. “Colleagues in both Houses of Parliament are very concerned, and are increasingly raising formal questions, about how this matter is being conducted” he said. ...
Culture secretary keeps Rupert Murdoch waiting over Sky deal image
Source : Guardian [Read Article] Thursday 20th of July 2017 11:26:27 AM
....The deputy Labour leader and shadow culture secretary, Tom Watson, chastised Bradley, saying she did not need to operate on Fox’s corporate timeline and there was no need to come back with a decision while parliament was in recess. “Parliament must have the opportunity to scrutinise any decision she makes,” he said. ...
The scandal of big tobacco’s behaviour in the developing world | Letters image
.... It is incoherent to give British aid for healthcare to these countries while at the same time a UK company is promoting harmful products that diminish people’s right to health. On a related subject, British MP pension fund, the Parliamentary Contributory Pension Fund (PCPF), invests in BAT and some UK local authority pensions invest large sums in the tobacco industry which many already consider unethical even before the article in the Guardian. ...
Are these the cheapest countries for expat living? image
Source : Daily Express [Read Article] Monday 17th of July 2017 04:00:00 PM
....2 million square kilometre nation offers plenty of variety; as evidenced by the fact the nation essentially has three capital cities. Cape Town is the legislative centre where Parliament sits; Pretoria is home to the executive branch of government (where the President and his cabinet is based) and Bloemfontein houses the Supreme Court of Appeal. ...
British companies must have voices heard on Brexit, says MP image
Source : Guardian [Read Article] Friday 14th of July 2017 05:26:11 PM
....“The government are not sure how to respond, so it’s important that the committee hear from the likes of Uber and Deliveroo, and from workers, from trades unions and from business,” she said. “Parliament’s going to be clogged up with other things, and also the government’s going to struggle to get anything through. ...
Pension changes: Anger as workers hit with 'OUTRAGEOUS' tax hikes  image
Source : Daily Express [Read Article] Thursday 13th of July 2017 03:42:00 PM
....Experts are now calling for the changes to instead apply from April 2018. Former pension minister Steve Webb said: "It would be outrageous for Parliament to be debating in September and October what tax allowances will be from 6th April 2017. ...
Minimum wage for the self-employed, suggests think tank image
Source : BBC [Read Article] Monday 3rd of July 2017 11:03:06 PM
...." . In May, the Parliamentary Work and Pensions Committee reported after an inquiry that self-employed status had left some workers vulnerable to "exploitation". ...
Hinkley Point C: the government should start planning alternatives | Nils Pratley image
.... Since the CMA last year rejected a full price cap, the appeal would probably succeed. Parliament, in other words, is the only body that can make a universal cap stick. ...
Savers warning: Pension tax relief could soon be SLASHED image
Source : Daily Express [Read Article] Saturday 1st of July 2017 02:05:00 PM
.... "Means-testing winter fuel payments was always going to be complex and controversial, so many Conservative MPs will be pleased to see this policy ditched. "However, the DUP decision to back Conservative Finance Bills probably means a greater likelihood of getting cuts to pension tax relief through Parliament. ...
Jeremy Corbyn sacks three frontbenchers over single market vote image
Source : BBC [Read Article] Thursday 29th of June 2017 09:33:48 PM
....Unison's general secretary Dave Prentis was very critical of Mr Umunna's amendment, saying it was "totally inappropriate for Labour MPs to create a split over Europe" and "utterly self-defeating to become bogged down in the worst kind of gesture politics". The government survived its first major Parliamentary test when MPs voted 323 to 309 in favour of the Queen's Speech - the government's package of legislation - which was stripped back after the Tories lost their Commons majority. ...
Soft Brexit, hard Brexit – What is the difference for expats? image
Source : Daily Express [Read Article] Friday 23rd of June 2017 02:24:00 PM
....Theresa May did want the deadline to be the 29th of March this year, the date on which she formally triggered Article 50 and began the exit process; the EU believe it should be on the day that the UK officially leaves the EU - likely sometime in March 2019. The European Parliament has already indicated that it will block any deal on Brexit that sets an earlier cut-off date, so there is still a way to go before UK expats in the EU can truly relax. ...
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
. The noise levels are now rising again, with experts warning that the hung Parliament could also hang the property market out to dry. ...
Older age image
Source : BBC [Read Article] Thursday 1st of June 2017 02:31:40 AM
Election 2017: State pension triple lock battle lines drawn image
Source : BBC [Read Article] Thursday 18th of May 2017 02:32:16 PM
....5% element, to leave a "double lock". Labour and the Liberal Democrats have vowed to maintain the triple lock throughout the next Parliament. ...
SSE warns of 'consequences' of price cap image
Source : BBC [Read Article] Wednesday 17th of May 2017 08:17:10 AM
. "Big six" energy company SSE has said that there are "challenges" ahead including the threat of a price cap in the next Parliament. ...
General election 2017: Lib Dems would end public sector pay squeeze image
...."The only way to deliver a strong economy which pays for strong public services is by backing Theresa May and her Conservative team," he added. Labour has also announced NHS investment on Monday, with leader Jeremy Corbyn giving details to the Royal College of Nursing conference of plans to spend an extra £37bn on the NHS over the course of the next Parliament. ...
General election 2017: 'Robin Hood tax' on City pledged by Labour image
.... Last year that raised just over £3bn. Labour wants to go further and extend the levy to bonds and more complex financial instruments called derivatives, which it claims would raise £26bn over the course of the next Parliament, and help curb speculative computer-driven high frequency trading. ...
State pension: Axing triple-lock has 'minimal savings and would hit poorest hardest' image
....Compared to the double lock, the triple lock has cost the Government around £2billion over seven years, which compared to £8billion of savings to come from the move to the flat-rate pension. Furthermore, given future expectations of inflation, the triple-lock is unlikely to have a signifiant cost impact on the state over the next Parliament, said Hyamns Robertson. ...
Is NOW the right time to sell your foreign property? image
Source : Daily Express [Read Article] Wednesday 3rd of May 2017 12:00:00 AM
....20 against the US dollar - Prime Minister Theresa May's decision to hold a snap general election sent the pound scurrying higher. As it stands, the Conservative Party is expected to win the election by a landslide, increasing their majority in Parliament and potentially improving PM May's hand in Brexit negotiations. ...
What does the UK election on June 8 mean for your finances if you live overseas? image
....As has already been seen many times previously, elections have a profound impact upon exchange rates and the influence of politics on the value of the pound is only going to increase. The expectation currently is that the Conservatives will win an even stronger majority, increasing their influence in Parliament and allowing Brexit to proceed more smoothly due to the diminished powers of the opposition. ...
Triple-lock: Call for pensions policy to be revamped image
Source : BBC [Read Article] Sunday 30th of April 2017 02:11:29 AM
....However, it is becoming increasingly expensive to maintain and some have called for it to be scrapped. A recent review by former CBI director-general John Cridland, who was appointed as the government's independent reviewer of state pension age last year, recommended that the triple lock be withdrawn in the next Parliament. ...
'Fire sale' risk with Bank capital approach, says Vickers image
Source : BBC [Read Article] Friday 28th of April 2017 02:26:12 PM
....Sir John Vickers, who was asked to construct a safety plan for Britain's banks in the wake of the financial crisis, has warned regulators over hasty bank asset sales. Parliament is investigating whether UK banks have the capital means to keep going during a shock and Sir John and the Bank of England gave evidence. ...
Donald Trump 100 days: Is the president making it CHEAPER to buy US property? image
Source : Daily Express [Read Article] Friday 28th of April 2017 12:09:00 PM
....We could see the GBP/USD exchange rate strengthen even further over the next few weeks if the odds of PM Theresa May enjoying a decisive victory in the UK election on June 8th remain high. As it stands, May is expected to increase her majority in Parliament. ...
The Crusader: Overhaul of LOGBOOK LOAN laws spells better deal for car buyers image
Source : Daily Express [Read Article] Thursday 27th of April 2017 06:01:00 PM
....“I’m pleased that the Treasury has acted swiftly. We’re drafting a bill which we hope will be introduced into Parliament next autumn to change the law by 2019. ...
Arrests as Newcastle and West Ham raided in £5m tax probe image
Source : BBC [Read Article] Wednesday 26th of April 2017 09:26:01 AM
....8m. In January, a Parliamentary Committee revealed 43 players, 12 clubs and eight agents were the subject of "open inquiries" by HMRC. ...
Jockey Club horse racing posts record annual turnover image
Source : BBC [Read Article] Wednesday 26th of April 2017 05:05:46 AM
...."This is a key pillar in the funding of British racing," said group chief executive Mr Bazalgette. "Both the UK Parliament and the European Union have approved the legislative changes. ...
General Election 2017: Labour's 'day one' pledge to EU nationals image
.... . Unlike the Lib Dems, it has ruled out offering a second referendum on the terms of any Brexit deal, but suggested Parliament could stop a so-called "hard Brexit". ...
Government extends Sky takeover inquiry image
Source : BBC [Read Article] Friday 21st of April 2017 11:29:35 AM
....Ofcom and the Competition and Markets Authority were due to report back by 16 May. Ms Bradley said: "Given the proximity of this decision to the forthcoming general election and following discussions with the parties, Ofcom, the CMA and the Cabinet Office Propriety and Ethics team", she had extended the deadline until Tuesday 20 June after the state opening of Parliament. ...
High heels row: Petition for work dress code law rejected image
Source : BBC [Read Article] Friday 21st of April 2017 10:29:08 AM
....The Equalities Office said existing legislation was "adequate" but it would issue guidelines to firms this summer. The issue was debated in Parliament in March after Nicola Thorp, who was sent home for wearing flat shoes, set up a petition with more 152,000 signatures. ...
Canada to tackle overbooking on flights image
Source : BBC [Read Article] Tuesday 11th of April 2017 06:25:22 PM
....The incident on Sunday evening's flight from Chicago to Louisville has been a public relations disaster for United Airlines. A spokesman for Mr Garneau said he could not get into the specifics of the Air Travellers Passenger Rights Regime legislation before it is introduced to Parliament. ...
High cost credit products must be tackled, say Lords image
Source : BBC [Read Article] Saturday 25th of March 2017 12:08:14 AM
....Debt charities say that as high cost loan companies have been pushed out, demand for credit by people in poverty has moved into other areas. The government is urged to appoint a minister for financial inclusion who has to report annually to Parliament on progress made towards addressing financial exclusion. ...
Eight tax changes savers should watch out for from April 2017 image
Source : Daily Express [Read Article] Tuesday 21st of March 2017 01:47:00 PM
....       Scottish tax powers. Mr Cox said: “From April the Scottish Parliament will receive a package of new powers including the power to set the rates and bands of income tax on non-savings and non-dividend income. ...
MPs debate £1,200 cap on insurance costs for young drivers image
Source : BBC [Read Article] Monday 20th of March 2017 12:01:54 PM
.... . So-called e-petitions that attract more than 100,000 signatures have to be considered for a debate in Parliament. ...
Article 50: Theresa May to trigger Brexit process next week image
Source : BBC [Read Article] Monday 20th of March 2017 11:39:42 AM
....Mrs May said last year that she intended to notify the EU of the UK's intention to leave by the end of March. The move was approved by Parliament two weeks ago when peers and MPs passed unchanged a bill giving the prime minister the authority to set the process in motion. ...
Scottish independence: Referendum demand 'will be rejected' image
Source : BBC [Read Article] Thursday 16th of March 2017 06:01:03 PM
.... . Ms Sturgeon, the Scottish first minister, told BBC Scotland: "It is an argument for independence really in a nutshell, that Westminster thinks it has got the right to block the democratically elected mandate of the Scottish government and the majority in the Scottish Parliament. ...
U-turn over Budget plan to increase National Insurance image
Source : BBC [Read Article] Wednesday 15th of March 2017 12:30:48 PM
....Chancellor Philip Hammond has said the government will not proceed with the increases which were criticised for breaking a 2015 manifesto pledge. He told MPs in a Commons statement: "There will be no increases in National Insurance rates in this Parliament. ...
Budget deficit beyond 2025 warns spending watchdog image
Source : BBC [Read Article] Monday 13th of March 2017 09:26:55 PM
....Reacting to Mr Chote's comments a Treasury spokesperson said: "This government has reduced the deficit by nearly two thirds since 2010. "We are committed to fiscal discipline and to returning the public finances to balance as soon as possible in the next Parliament, while maintaining the flexibility to support the economy in the near term. ...
Budget 2017: Self-employed 'tax raid' a 'rookie error' image
Source : BBC [Read Article] Saturday 11th of March 2017 09:22:56 AM
.... . Labour's shadow chancellor John McDonnell said: "The fact the prime minister won't fully support her own chancellor's Budget measure, and has been forced by Labour to row back on it just 24 hours after he delivered his speech in Parliament, shows the level of disarray that exists at the top of government. ...
May defends 'fair' National Insurance rise amid criticism image
Source : BBC [Read Article] Thursday 9th of March 2017 08:28:31 PM
...." . The Conservatives' last general election manifesto explicitly ruled out rises in National Insurance, VAT and income tax during the lifetime of the current Parliament. ...
Budget: Does NI rate rise break a pledge? image
Source : BBC [Read Article] Wednesday 8th of March 2017 03:04:52 PM
....The overall effect of abolishing Class 2 and raising Class 4 will be to raise an extra £145m per year by 2021-22, so it clearly is a tax rise. The government did pass an act of Parliament in 2015, called the National Insurance (Rate Ceilings) Act, which prevented it from raising National Insurance rates, although that will not be breached because it referred to Class 1 National Insurance only, which is paid by employees, not by the self-employed. ...
UK growth forecast for 2017 revised up image
Source : BBC [Read Article] Wednesday 8th of March 2017 02:12:25 PM
.... . "The government does not appear to be on track to meet its stated fiscal objective to 'return the public finances to balance at the earliest possible date in the next Parliament'. ...
High heels row: MPs 'shocked' by women's dress code stories image
Source : BBC [Read Article] Monday 6th of March 2017 02:21:10 PM
....More than 152,000 people signed the petition set up by Nicola Thorp, from London, after she was sent home from her temp job when she refused to wear shoes with a "2in to 4in heel". It was debated in Parliament because it reached more than 100,000 signatures. ...
Rosa Monckton: Let learning disabled work below minimum wage image
Source : BBC [Read Article] Thursday 2nd of March 2017 01:55:05 PM
....". In 2011, Conservative MP Philip Davies told Parliament that disabled people should work for less than the minimum wage during a debate on the Employment Opportunities Bill. ...
Government defeated on Brexit bill image
Source : BBC [Read Article] Wednesday 1st of March 2017 07:06:57 PM
....The government has been defeated after the House of Lords said ministers should guarantee EU nationals' right to stay in the UK after Brexit. The vote, by 358 to 256, is the first Parliamentary defeat for the government's Brexit bill. ...
Overdraft charges are elephant in the room, say MPs image
Source : BBC [Read Article] Wednesday 1st of March 2017 02:41:57 PM
....Overdraft charges are "the elephant in the room" as not enough has been done to tackle subsequent debt problems, a committee of MPs has said. Bank overdrafts were the major source of high-cost borrowing for millions of people, the All Party Parliamentary Group on Alternative Lending concluded. ...
Ford forecasts 1,160 Bridgend job cuts image
Source : BBC [Read Article] Wednesday 1st of March 2017 08:37:23 AM
Samsung heir Lee Jae-yong to be indicted on bribery charges image
Source : BBC [Read Article] Tuesday 28th of February 2017 07:14:00 AM
.... . Parliament voted in December to impeach President Park. ...
UK 'must insulate 25 million homes' image
Source : BBC [Read Article] Tuesday 28th of February 2017 12:07:22 AM
....More than one home every minute will need to be refurbished in the UK between now and 2050, experts say. The authors of a report to Parliament say 25 million existing homes will not meet the insulation standards required by mid-century. ...
London Stock Exchange/Deutsche Boerse merger in doubt image
Source : BBC [Read Article] Sunday 26th of February 2017 11:27:20 PM
.... . Syed Kamall, MEP for London and a member of the European Parliament's financial services committee, told the BBC: "I think this is good news for competition, and it's also good news for those who are worried that some business in London might be moved to Frankfurt via the back door. ...
Is it still a man's world behind the camera? image
Source : BBC [Read Article] Thursday 23rd of February 2017 01:21:36 AM
...."It amplifies your voice and the voices of all of those people you are making a film about. "After A Girl in the River, there was legislation about honour killing installed in Parliament in Pakistan. ...
Brexit weekly briefing: article 50 moves closer but EU dashes divorce deal hopes image
.... As the juggernaut crashes on. In the Financial Times (paywall), Martin Wolf marvels at a sentence in the Brexit white paper from earlier this month: “Whilst Parliament has remained sovereign throughout our membership of the EU, it has not always felt like that. ...
Booker Tesco deal has hedge funds in a funk image
Source : Guardian [Read Article] Sunday 29th of January 2017 07:00:17 AM
....” As this page is fond of pointing out, that’s how Robert De Niro’s character, Ace Rothstein, explained the gambling industry in the 1995 film Casino. Remember his words this week, when the Fixed Odds Betting Terminals (FOBT) All Party Parliamentary Group publishes its report on those controversial betting machines in bookies’ shops, which allow punters to gamble on games such as roulette. ...
Supreme court rules parliament must have vote to trigger article 50 image
Source : Guardian [Read Article] Tuesday 24th of January 2017 10:12:29 AM
....Gina Miller, the investment fund manager who was one of the lead claimants in the challenge, welcomed the ruling, saying: “No prime minister, no government can expect to be unanswerable or unchallenged. Parliament alone is sovereign. ...
Bookmakers face losing their licence and huge fines over problem gambling image
....] on an equal footing. Parliament gave us a wide range of regulatory tools for a reason,” she said, adding that sanctions were likely to include “higher penalties”, particularly when a company was guilty of “repeated failings”. ...
Give robots 'personhood' status, EU committee argues image
Source : Guardian [Read Article] Thursday 12th of January 2017 03:52:53 PM
....“If I create a robot, and that robot creates something that could be patented, should I own that patent or should the robot? If I sell the robot, should the intellectual property it has developed go with it? These are not easy questions to answer, and that goes right to the heart of this debate,” Morgan added. The full house of the European Parliament will vote on the draft proposals in February, which will need to be approved by absolute majority. ...
India sees long bank queues as rupee deadline passes image
Source : BBC [Read Article] Friday 30th of December 2016 03:10:11 AM
....Some people, including those of Indian origin living abroad, will be able to exchange the notes in branches of India's central bank until 31 March 2017 - but the process will be more complicated than going to a regular bank. Parliament is preparing laws that will make it a criminal offence to hold the old notes from 1 April 2017 onwards. ...
FTSE falters but Royal Bank of Scotland rises after Deutsche Bank deal image
Source : Guardian [Read Article] Friday 23rd of December 2016 09:51:02 AM
....Although we judge Barclays’ decision not to settle as a net negative, there are a number of theoretical upside risks. Members of the UK Parliamentary Treasury Select Committee have repeatedly called for UK Government intervention to support/defend the position of UK banks vis-à-vis the US DOJ. ...
Charity funding image
Source : BBC [Read Article] Friday 23rd of December 2016 12:20:12 AM
.... . Parliament passed a new law in 2016 making charities more responsible for the methods used by their fundraising agents, and several are looking for new ways of raising money. ...
MPs poised to investigate VAT fraud on Amazon and eBay image
Source : Guardian [Read Article] Wednesday 21st of December 2016 12:01:02 AM
....As a result, many small British businesses have been left unable to compete. Parliament’s public accounts committee has previously played a central role in shining a spotlight on other tax scandals involving the likes of Starbucks, Google and Amazon. ...
Sturgeon: UK could stay in single market image
Source : BBC [Read Article] Tuesday 20th of December 2016 11:38:21 AM
....She said powers over immigration were increasingly vital for the protection of Scotland's interests, and should be devolved to Holyrood as part of a substantial transfer of new powers after the country leaves the EU. This transfer would include area returned from the EU which currently sit within Scottish Parliament responsibility - such as fishing, the environment, justice and agriculture. ...
The Crusader: Joy as ‘ghost train’ tab settled image
Source : Daily Express [Read Article] Monday 19th of December 2016 02:22:00 PM
.... . The new rules, listed to go through Parliament next year, are in response to a public consultation on issues raised by consumer champion Transport Focus. ...
Ticket resale websites run risk of fines after CMA launches inquiry image
Source : Guardian [Read Article] Monday 19th of December 2016 12:23:00 PM
....”. Labour MP Sharon Hodgson, who chairs the All Party Parliamentary Group on Ticket Abuse, said it was “paramount that enforcement action is taken seriously and swiftly”. ...
Brexit trade deal could take 10 years, says UK's ambassador image
Source : BBC [Read Article] Thursday 15th of December 2016 06:00:25 AM
....In other Brexit developments, the House of Lords EU financial affairs sub-committee has warned that financial services firms could quit the City of London unless there are transitional arrangements, or a "Brexit bridge" to prevent them moving to New York, Dublin, Frankfurt of Paris. And European Parliament president Martin Schulz reiterated there would be no negotiation until the UK had officially notified the EU of its departure. ...
Brexit: Warning firms could leave City over uncertainty image
Source : BBC [Read Article] Thursday 15th of December 2016 12:46:58 AM
....It comes as Prime Minister Theresa May prepares to meet other EU leaders at a summit meeting in Brussels. Mrs May will take part in EU-wide discussions on defence, foreign affairs, migration and the economy as well as holding bilateral meetings with the leaders of Latvia and Lithuania and the president of the European Parliament. ...

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