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....Apple said the arrangement was legal. "Apple is the largest taxpayer in the world and we appreciate and respect the role taxes play as necessary and important in our society," the company said. ... [Read full article on BBC ]
Thursday 23rd of March 2017 09:09:46 AM
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.... . "We need to cut out the middle men, have this work done in-house to cut costs and to save the taxpayer money," he said. ... [Read full article on BBC ]
Monday 27th of March 2017 11:52:11 AM
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....MTR, which operates the Hong Kong Metro, has been awarded the franchise along with First Group to run South West Trains (SWT) for seven years. Rail union RMT has reacted angrily saying MTR, which will hold a 30% share, "is set to make a killing at the British taxpayer's expense". ... [Read full article on BBC ]
Monday 27th of March 2017 07:18:20 AM
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....First MTR will take over from Stagecoach, which has operated the South West Trains franchise since the UK rail network was privatised in 1996. The Rail, Maritime and Transport (RMT) union said the Chinese company – which also has the contract to operate trains on the Crossrail route in London – was set to make “a killing at the British taxpayers’ expense” as it joined the Dutch, German, Italian and French national rail operators in running private franchises in the UK. ... [Read full article on Guardian ]
Monday 27th of March 2017 07:52:43 AM
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....Stephen Thomas, emeritus professor of energy policy at the University of Greenwich, branded the NDA’s handling of the contract “an immense screw-up. ” He added that there would be a further hit to the taxpayer because of the cost of a new tender. ... [Read full article on Guardian ]
Monday 27th of March 2017 09:22:20 AM
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....After the closures 151 RBS and 856 NatWest branches will remain. RBS remains still majority-owned by taxpayers following its multi-billion government bailout almost a decade ago. ... [Read full article on BBC ]
Thursday 23rd of March 2017 04:03:12 PM
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....It will be conducted every other year, in addition to the regular annual stress test, which puts banks through another hypothetical scenario that tests their ability to weather a severe economic shock over a five-year period. Last year Royal Bank of Scotland, which is 73% owned by UK taxpayers, was the biggest failure in the stress tests, while Barclays and Standard Chartered also struggled. ... [Read full article on Guardian ]
Monday 27th of March 2017 09:26:41 AM
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....Royal Bank of Scotland is axing 158 branches, most of them NatWest outlets, with the loss of up to 362 jobs. The group, which is 73% taxpayer-owned, blamed the move on customers spurning the traditional branch counter service in favour of doing their banking on the internet and mobile phones. ... [Read full article on Guardian ]
Thursday 23rd of March 2017 06:05:29 PM
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.... This is not the first procurement scandal and it is not the last, but it should lead to a rethink of who– apart from the lawyers – is benefiting. Getting private firms to tender for public contracts is supposed to save taxpayers money, not cost them a bundle. ... [Read full article on Guardian ]
Monday 27th of March 2017 02:29:00 PM
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....The most recent Star Wars film, Rogue One, made by Disney, was shot in the UK. One-quarter of the production costs of UK-made films is essentially borne by taxpayers, as movie production gets a 25% tax credit. ... [Read full article on BBC ]
Friday 24th of March 2017 10:29:58 AM
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.... It also helps that the state is fighting to keep a significant tax break for its richest residents. Hedge fund managers and other investors pay 19% on the money they earn from their investments – less than the 25% US taxpayers owe if they earn between $37,950 and $91,900. ... [Read full article on Guardian ]
Monday 27th of March 2017 10:00:04 AM
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.... However, the benefit of being able to deduct mortgage interest is gradually being reduced so that, by April 2020, the most you will be able to cut your tax bill by is 20% of the cost of mortgage interest. To put it another way, having a buy-to-let mortgage will be a lot less attractive from a tax point of view, especially for higher-rate taxpayers. ... [Read full article on Guardian ]
Thursday 23rd of March 2017 07:00:05 AM
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....One reason not to open a cash Isa is that interest on all savings is now automatically paid tax-free. You can earn up to £1,000 interest per year without paying tax if you are a 20% taxpayer, or £500 if you are a 40% taxpayer. ... [Read full article on Guardian ]
Saturday 25th of March 2017 07:00:03 AM
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....Older people and more vulnerable people without access to the internet are typically worst affected by closures, as they rely on branches for access to vital services. The bank, 73 per cent owned by taxpayers, said it has seen a "dramatic shift" in the way customers bank, with more using mobile and online over traditional branch counters. ... [Read full article on Daily Express ]
Thursday 23rd of March 2017 02:35:00 PM
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Latest Finance News related to Taxpayer

UK's borrowing binge is worrying the Bank of England image
Source : Guardian [Read Article] Monday 27th of March 2017 02:29:00 PM
.... This is not the first procurement scandal and it is not the last, but it should lead to a rethink of who– apart from the lawyers – is benefiting. Getting private firms to tender for public contracts is supposed to save taxpayers money, not cost them a bundle. ...
Flawed nuclear tender sees £100m payout to firms image
Source : BBC [Read Article] Monday 27th of March 2017 11:52:11 AM
.... . "We need to cut out the middle men, have this work done in-house to cut costs and to save the taxpayer money," he said. ...
Protesters target Connecticut's uber wealthy with 'tax bills' in bid to end loophole image
.... It also helps that the state is fighting to keep a significant tax break for its richest residents. Hedge fund managers and other investors pay 19% on the money they earn from their investments – less than the 25% US taxpayers owe if they earn between $37,950 and $91,900. ...
UK banks asked to draw up plans to show they are prepared for Brexit image
Source : Guardian [Read Article] Monday 27th of March 2017 09:26:41 AM
....It will be conducted every other year, in addition to the regular annual stress test, which puts banks through another hypothetical scenario that tests their ability to weather a severe economic shock over a five-year period. Last year Royal Bank of Scotland, which is 73% owned by UK taxpayers, was the biggest failure in the stress tests, while Barclays and Standard Chartered also struggled. ...
UK nuclear decommissioning debacle costs government nearly £100m image
Source : Guardian [Read Article] Monday 27th of March 2017 09:22:20 AM
....Stephen Thomas, emeritus professor of energy policy at the University of Greenwich, branded the NDA’s handling of the contract “an immense screw-up. ” He added that there would be a further hit to the taxpayer because of the cost of a new tender. ...
Chinese firm MTR to help operate UK's South West trains franchise image
Source : Guardian [Read Article] Monday 27th of March 2017 07:52:43 AM
....First MTR will take over from Stagecoach, which has operated the South West Trains franchise since the UK rail network was privatised in 1996. The Rail, Maritime and Transport (RMT) union said the Chinese company – which also has the contract to operate trains on the Crossrail route in London – was set to make “a killing at the British taxpayers’ expense” as it joined the Dutch, German, Italian and French national rail operators in running private franchises in the UK. ...
South West Trains: Hong Kong firm MTR to help run rail franchise image
....MTR, which operates the Hong Kong Metro, has been awarded the franchise along with First Group to run South West Trains (SWT) for seven years. Rail union RMT has reacted angrily saying MTR, which will hold a 30% share, "is set to make a killing at the British taxpayer's expense". ...
Is an Isa the best home for your nest egg? image
Source : Guardian [Read Article] Saturday 25th of March 2017 07:00:03 AM
UK film industry 'needs government support' after Brexit image
Source : BBC [Read Article] Friday 24th of March 2017 10:29:58 AM
....The most recent Star Wars film, Rogue One, made by Disney, was shot in the UK. One-quarter of the production costs of UK-made films is essentially borne by taxpayers, as movie production gets a 25% tax credit. ...
RBS and NatWest to close 158 branches as customers go digital image
Source : Guardian [Read Article] Thursday 23rd of March 2017 06:05:29 PM
....Royal Bank of Scotland is axing 158 branches, most of them NatWest outlets, with the loss of up to 362 jobs. The group, which is 73% taxpayer-owned, blamed the move on customers spurning the traditional branch counter service in favour of doing their banking on the internet and mobile phones. ...
RBS and NatWest to shed 158 branches and more than 400 jobs image
Source : BBC [Read Article] Thursday 23rd of March 2017 04:03:12 PM
....After the closures 151 RBS and 856 NatWest branches will remain. RBS remains still majority-owned by taxpayers following its multi-billion government bailout almost a decade ago. ...
RBS and NatWest to close 158 branches and cut 470 jobs: Is your local bank shutting? image
....Older people and more vulnerable people without access to the internet are typically worst affected by closures, as they rely on branches for access to vital services. The bank, 73 per cent owned by taxpayers, said it has seen a "dramatic shift" in the way customers bank, with more using mobile and online over traditional branch counters. ...
Apple 'paid no tax' in New Zealand for at least a decade image
Source : BBC [Read Article] Thursday 23rd of March 2017 09:09:46 AM
....Apple said the arrangement was legal. "Apple is the largest taxpayer in the world and we appreciate and respect the role taxes play as necessary and important in our society," the company said. ...
Do I need to fill out a tax return if I buy to let without a mortgage? image
Source : Guardian [Read Article] Thursday 23rd of March 2017 07:00:05 AM
.... However, the benefit of being able to deduct mortgage interest is gradually being reduced so that, by April 2020, the most you will be able to cut your tax bill by is 20% of the cost of mortgage interest. To put it another way, having a buy-to-let mortgage will be a lot less attractive from a tax point of view, especially for higher-rate taxpayers. ...
The last call for savers to cash in on tax relief image
Source : Daily Express [Read Article] Wednesday 22nd of March 2017 12:01:00 AM
....” . Currently, basic-rate taxpayers and non-earners can claim tax relief at 20 per cent, which means if they pay £2,880 into a pension, the Government will add £720, taking their total contribution to £3,600. ...
Abellio deal: Japanese firm Mitsui completes 40% Greater Anglia sale image
....The RMT said it stands by comments made in January by the union's general secretary, Mick Cash, who warned that Britain's rail network was being sold off like it was a "dodgy car boot sale". "The checks and balances for both passengers and the taxpayer, which the DfT claims are enshrined in its multi-million pound franchising programme, are clearly lacking when the winning bidder can simply walk away, share out its responsibilities and choose its replacement whenever it sees fit," he said. ...
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
....     Corporate bond funds change to paying gross interest. The Personal Saving Allowance (PSA) allows basic rate taxpayers to earn up to £1,000 in savings income tax-free, while higher rate taxpayers can earn up to £500. ...
Google braces for questions as more big-name firms pull adverts image
Source : Guardian [Read Article] Sunday 19th of March 2017 03:24:45 PM
....In a letter to the company, Yvette Cooper, who chairs the home affairs select committee, accused the company of “profiting from hatred”. And senior figures from Google were summoned to the Cabinet Office last week over concerns that taxpayer-funded adverts were appearing alongside “inappropriate” YouTube videos. ...
French advertising giant pulls out of Google and YouTube image
Source : Guardian [Read Article] Friday 17th of March 2017 03:08:24 PM
.... Google also delivers ads to many other third-party sites. An investigation by the Times claimed that as well as taxpayer-funded ads from the government, ads from several media and retail companies including Channel 4, the BBC, Argos and L’Oréal also appeared alongside extremist content on Google and YouTube. ...
YouTube: UK government suspends ads amid extremism concerns image
Source : BBC [Read Article] Friday 17th of March 2017 11:15:21 AM
....Ministers have summoned Google for talks at the Cabinet Office after imposing a temporary restriction on its own ads - including for military recruitment and blood donation campaigns - appearing on YouTube. The Cabinet Office said digital platforms such as YouTube were a "cost-effective" way of reaching mass audiences but the taxpayer demanded high standards and it would be seeking action following recent negative media coverage. ...
Google summoned   by ministers as government pulls ads over extremist content image
.... We have placed a temporary restriction on our YouTube advertising pending reassurances from Google that government messages can be delivered in a safe and appropriate way. “Google has been summoned for discussions at the Cabinet Office to explain how it will deliver the high quality of service government demands on behalf of the taxpayer. ...
Philip Green's lavish party for his 65th ends exile from social circuit image
Source : Guardian [Read Article] Thursday 16th of March 2017 08:27:49 PM
....65 a week and other financial aid such as the winter fuel allowance. Several years ago, the Tory MP Iain Duncan Smith encouraged the better-off elderly to pay back taxpayer-funded extras such as fuel payments and free bus passes and television licences. ...
Tax year end 2017: Are ISAs or current accounts the best place to save £5,000?  image
Source : Daily Express [Read Article] Thursday 16th of March 2017 04:19:00 PM
.... Tesco Bank has also guaranteed to offer a rate of three per cent on its current account from April 1 and not drop it any time before April 2019. Furthermore, up to £1,000 of savings income is tax free for basic rate taxpayers thanks to the Personal Savings Allowance or £500 for higher rate tax payers. ...
Schaeuble calls for 'strong' City post Brexit image
Source : BBC [Read Article] Thursday 16th of March 2017 01:55:49 PM
....In a thinly disguised broadside at the new US administration, which has signalled it intends to roll back Wall Street regulation, Mr Schaeuble said: "I'm fully aware that many of you in the room are not fans of regulation". After some nervous laughter, he added that the regulation big banks have had to bear is "far less" than the burden that taxpayers have had to shoulder due to lax regulation. ...
Ian and Greg Chappell call on Adani to abandon Carmichael mine project image
Source : Guardian [Read Article] Thursday 16th of March 2017 01:46:56 AM
....Palaszczuk said her government had remained true to its 2015 election commitment to protect the reef and sensitive wetlands from dredging as part Adani’s planned port expansion. It had also delivered on its promise not to use taxpayer funds to subsidise Adani’s infrastructure. ...
Jones Bootmaker is on the brink – but it's not all gloom on the high street image
....The finishing line is in sight for the government in its efforts to sell off its stake in Lloyds Banking Group. The announcement that another one percentage point stake has been sold off reduces the taxpayer holding to 2. ...
Donald Trump's 2005 tax return leak reveals $38m bill image
Source : BBC [Read Article] Wednesday 15th of March 2017 02:38:18 AM
....This is higher than the average American citizen would pay but below the 27. 4% averaged by higher-earning taxpayers. ...
Too many firms game the system. They should be transforming lives  | Aditya Chakrabortty image
.... And they all struck it lucky with Tolcher. Tranmere Rovers could have done what so many other companies do with the billions taxpayers spend on apprenticeship training: game the system and use it as a source of bargain-basement, publicly subsidised labour. ...
Green Investment Bank sell-off racks up at least £1m in fees image
Source : Guardian [Read Article] Sunday 12th of March 2017 03:10:32 PM
. The troubled £2bn privatisation of the Green Investment Bank has already cost at least £1m of taxpayer money in consultancy fees, official documents have revealed. ...
A helping hand with childcare: options to make your child and wallet happy image
.... Giving £1,000 of salary pre-tax gives parents £1,000 of care vouchers, saving them money as they don’t have to pay tax or national insurance on the amount put aside. Basic rate taxpayers can claim £930 a year per parent, and higher rate ones £630. ...
Budget 2017: tax on dividends will be a raid on 2 million small investors image
....8% – then a portfolio worth less than £50,000 held outside an Isa would not be affected because dividend income would be £2,000 or less. However, if it’s a portfolio of £75,000 (ie, a dividend income of £3,000), a higher-rate taxpayer would pay £325 more tax a year, while an additional rate taxpayer would pay an extra £381. ...
The Falklands war hero fighting for his state pension image
Source : Guardian [Read Article] Saturday 11th of March 2017 06:59:27 AM
....”. Some say there is no reason why UK taxpayers should have to fund state pension increases for those who’ve chosen to live abroad, but it would be hard to argue there is any logic to the system. ...
The Guardian view on the Ofcom deal: too little, too slowly | Editorial image
.... If ever the monopoly is floated on the stock exchange, it is BT that will profit. The taxpayer, meanwhile, is stuck with the pensions liabilities of both companies if there is any shortfall. ...
Care homes say extra £2bn from budget must go to frontline services image
Source : Guardian [Read Article] Friday 10th of March 2017 07:38:27 AM
....“The chancellor’s spring budget has quite rightly acknowledged the precarious state of adult social care,” Green said. “Whilst the £2bn additional funding over three years for adult social care is welcome, it will only be an efficient use of taxpayers’ money should the green paper on adult social care deliver the reforms that are necessary to put the system on a stable footing. ...
'This is grossly unfair': self-employed readers react to NICs increase image
Source : Guardian [Read Article] Thursday 9th of March 2017 02:21:03 PM
....Justin Desyllas, 44, graphic designer, Bristol. I will end up paying more in national insurance, which could push my tax bill to the point where I will have to make payments on account against the following year’s tax bill (this is a bizarre convention only self-assessment taxpayers are subject to) What Hammond forgets is that the self-employed have no paid holidays or paid sick leave, and rarely access statutory sick ay. ...
Co-op Bank warns of more branch closures as it reports £477m loss image
Source : Guardian [Read Article] Thursday 9th of March 2017 11:25:19 AM
....He said the bank had only been able to put itself up for sale because the “bank is stronger in many areas than in 2013 and these options would simply not have been feasible before”. The Co-operative Group of supermarkets and funeral homes now owns just 20% of the bank after ceding control to hedge funds during the 2013 rescue, which Holt reiterated had taken place without recourse to the taxpayer. ...
Prospect of £1.7bn fine looms large over PM's talks with EU leaders image
Source : Guardian [Read Article] Wednesday 8th of March 2017 10:30:19 PM
....Politicians opposed to Brexit said the findings raised more questions about the government’s plans to quit the EU’s customs union. “The UK border force is asleep at the wheel and it’s going to cost the taxpayer billions,” said Alistair Carmichael, a Liberal Democrat MP. ...
Budget 2017: manifesto row clouds chancellor's attempt at low-key package image
....The chancellor’s attempt at a low-key package threatened to be overshadowed by a row over whether the plan to bring NICs for the employed and self-employed into line would both stifle enterprise and break a commitment made by David Cameron in 2015. The Conservatives vowed there would be no increases in income tax, VAT or NICs for the duration of the 2015-2020 parliament and during the last election campaign senior Tories accused then Labour leader Ed Miliband and his shadow chancellor, Ed Balls, of plotting to raise NICs, “hitting hard-working taxpayers and costing jobs”. ...
Government finances face near-£6bn hit over changes to personal injury payouts image
....The rate was previously 2%. “This extraordinary bill for taxpayers – bigger than any other in this budget – shows how absurd this avoidable decision was,” he added. ...
RBS awards nearly £16m of bonuses in shares to nine top executives image
Source : Guardian [Read Article] Wednesday 8th of March 2017 06:57:42 PM
....4m. Since RBS’s £45bn taxpayer bailout during the financial crisis, it has reported nine consecutive years of losses amounting to more than £58bn. ...
Few will spot the difference in national insurance – at first | Patrick Collinson image
.... Others argue that the self-employed don’t get the luxury of paid annual leave, employer pension contributions or enhanced parental leave pay, and must support themselves through periods of no work. Yet too many taxpayers will know family members or former colleagues who have set up on their own and are gleefully paying a much reduced tax bill. ...
Budget 2017: Tax-free dividend allowance slashed image
Source : BBC [Read Article] Wednesday 8th of March 2017 06:04:27 PM
....The 1. 4 million basic-rate taxpayers affected would lose an average £200, compared with £440 for the 725,000 on higher rate and £890 for the 124,000 top rate taxpayers. ...
Self-employed hit by national insurance hike in budget image
Source : Guardian [Read Article] Wednesday 8th of March 2017 02:24:49 PM
....Hammond also announced that he was addressing similar benefits enjoyed by people who are directors and shareholders, by cutting the tax-free allowance on the dividends they take out of their companies from £5,000 to £2,000 from April next year. However, the moves may not prove to be as costly to people drawing dividends as assumed, as the announcement of the lower allowance presents taxpayers with the opportunity of lowering their bills by drawing dividends in advance. ...
Budget 2017: Blow for pensioners as tax-free dividend allowance SLASHED image
Source : Daily Express [Read Article] Wednesday 8th of March 2017 01:44:00 PM
....2 million people, including seven per cent of pensioners. Chris Sanger, head of tax at EY, said: “The cut in allowance will mean that a higher rate taxpayer receiving £5,000 of dividend income will now face almost £1,000 in extra tax. ...
Lack of pension equality for same-sex couples 'is sexual discrimination' image
Source : Guardian [Read Article] Wednesday 8th of March 2017 12:05:48 PM
....Emma Norton, Liberty’s lawyer representing Walker, said: “We hope the supreme court will drive the law into the 21st century and take a huge step towards equal pension rights for same-sex spouses and civil partners. This archaic loophole has no place in the UK in 2017, and it is disgraceful that the Department for Work and Pensions continues to spend taxpayers’ money fighting to preserve it. ...
Apple, Samsung and Microsoft react to Wikileaks' CIA dump image
Source : BBC [Read Article] Wednesday 8th of March 2017 09:32:08 AM
...."The story here isn't that the CIA hacks people. Of course they do; taxpayers would be right to be annoyed if that weren't the case," blogged Nicholas Weaver, a security researcher at the International Computer Science Institute in Berkeley. ...
Isa savers frozen out as rates hit a new low image
Source : Daily Express [Read Article] Wednesday 8th of March 2017 08:13:00 AM
....” . Cash Isas have been hit by the new personal savings allowance that lets basic rate taxpayers earn £1,000 in savings interest outside an Isa before paying income tax. ...
Budget 2017: Chancellor announces North Sea help image
Source : BBC [Read Article] Tuesday 7th of March 2017 10:29:53 PM
....That move should prompt more of these older fields to be sold and not decommissioned early. It shouldn't cost us, the taxpayer, any more and potentially because it keeps the oil fields producing, it should even benefit the treasury. ...
Goodbye Spring Budget image
Source : BBC [Read Article] Tuesday 7th of March 2017 12:11:17 AM
....Mr Roy-Chowdhury points out that moving the government announcements matters to the general public as well. "If there is a range of changes twice a year to things like national insurance, personal allowances, pensions tax relief or savings allowances, it is harder for ordinary taxpayers to keep up," he says. ...
Senate votes to repeal labor protection laws that safeguarded poultry workers image
....’”. Worker protections save taxpayer money, said Berkowitz and too often, the plight of the animals being processed receives closer attention than the treatment of the people processing them: “Consumers care about whether it’s organic, whether it’s free-range, whether it’s humanely raised, but what about the nation’s men and women who staff the plants? Do they care if they’re humanely treated? It’s not just ‘being nice’. ...
Buy-to-let landlords face huge tax increase from new law image
Source : Daily Express [Read Article] Sunday 5th of March 2017 12:01:00 AM
....In the future, they will pay tax on their full rental income and get a tax credit instead, which will be phased in over four years and worth just 20 per cent in the 2020/21 tax year. This will hurt higher rate taxpayers and some basic-rate taxpayers too, by pushing them into the higher rate tax bracket. ...
Sick DPD couriers face £150 charge if unable to find cover image
Source : Guardian [Read Article] Friday 3rd of March 2017 07:39:12 PM
....“The gig economy is producing wave after wave of evidence on the grim reality of life at the bottom of Britain’s labour market,” said Field, whose committee is holding a parliamentary inquiry into the gig economy. “A group of companies now controls the working lives of an unknown number of people, and yet evades its own responsibilities as employers and taxpayers by labelling those people as self-employed … This move [by DPD] makes the rest of the gig economy look as though it operates in the Garden of Eden. ...
UK pharma firms accused of illegal deals to hike price of life-saving drug image
.... About 1m prescriptions of the drug were distributed last year. Andrew Groves, the CMA’s senior responsible officer for the investigation, said: “Anti-competitive agreements can cost the NHS, and ultimately the taxpayer, by stopping competition bringing down the cost of lifesaving drugs like hydrocortisone tablets. ...
NHS 'overcharged' by drug makers' non-compete deal, says CMA image
Source : BBC [Read Article] Friday 3rd of March 2017 08:39:04 AM
.... . "Anti-competitive agreements can cost the NHS, and ultimately the taxpayer, by stopping competition bringing down the cost of lifesaving drugs like hydrocortisone tablets," said Andrew Groves of the CMA. ...
Labour says £1m earners should publish tax returns image
Source : BBC [Read Article] Thursday 2nd of March 2017 03:05:40 PM
....'End discrimination'. He urged the government to appoint a politically neutral body, such as the Office for Budget Responsibility, to assess the levels of funding needed for the NHS in the long term, with 10-year budgets that show taxpayers their contributions are well-spent. ...
Green Investment Bank: rival bidder launches legal challenge to sale image
Source : Guardian [Read Article] Wednesday 1st of March 2017 07:01:01 AM
....Sustainable Development Capital (SDCL), a rival bidder for the bank, said it was launching a legal challenge to the government’s decision to select Macquarie as its preferred bidder for the £2bn deal. The London-based investment fund has applied to the high court for a judicial review on the grounds that it believes the bidding process has not complied with the criteria laid out by the government in March 2016 – such as achieving value for money for the taxpayer. ...
Savers warned: Pension tax relief could be SLICED in March Budget  image
Source : Daily Express [Read Article] Tuesday 28th of February 2017 03:36:00 PM
.... And the burden on state finances has been growing following the roll-out of auto-enrolment into workplace pensions. One option that could save the Government billions of pounds a year is to implement a flat-rate of relief for taxpayers at around 33 per cent - impacting middle earners hardest. ...
Southern rail chief: we aren’t doing anything wrong image
Source : Guardian [Read Article] Tuesday 28th of February 2017 02:04:25 PM
....He defended the way the company had pushed through plans to extend driver-only trains and downgrade the role of conductors, which led to the strike on the Brighton to London and Bedford route. He said: “We’re doing this because it’s the right thing for the railways, for taxpayers – we aren’t doing anything wrong. ...
Middle-aged dog walkers to lead Mountain Warehouse across US image
Source : Guardian [Read Article] Monday 27th of February 2017 09:35:52 AM
.... Last autumn Neale feared its clothing prices would have to rise following the devaluation of sterling against the dollar but says the depreciation of China’s renminbi against the greenback – as well as better deals struck with suppliers keen to get their hands on its high volume orders – means they are no longer necessary. After working with several private equity backers – Italian, Greek, Icelandic and finally the UK taxpayer in the shape of Lloyds Banking Group’s venture capital arm – Neale bought the business back in 2013 in a £85m deal backed by RBS. ...
Austerity anguish image
Source : BBC [Read Article] Sunday 26th of February 2017 01:54:38 AM
....In the short term though that's highly unlikely. The leaders of the eurozone face elections this year in the Netherlands, France and Germany - not a good moment to tell their taxpayers that they will not be getting their money back from Greece. ...
Quids in: why it’s time to get rid of your £1 coins image
Source : Guardian [Read Article] Saturday 25th of February 2017 07:00:05 AM
....The current coins are being replaced because they are so vulnerable to being faked – around one in every 30 in circulation is a dud. The new coin will “reduce the costs of counterfeits to businesses and the taxpayer,” says the Mint. ...
On your bike: the best and the worst of city cycle schemes image
Source : Guardian [Read Article] Saturday 25th of February 2017 07:00:05 AM
.... Some cities may even be given money to host a scheme, in a complete upending of the subsidy-driven model that has so far been in use. Compare that to London where, despite Santander’s £44m seven-year sponsorship deal, London taxpayers have to cover £10m of its £25m annual operating costs. ...
HMRC criticised over film industry tax avoidance probes image
Source : BBC [Read Article] Saturday 25th of February 2017 02:46:36 AM
....". Some investors in film schemes have been hit with Accelerated Payment Notices, which give taxpayers 90 days to pay the disputed amount of tax. ...
Losses of £58bn since the 2008 bailout – how did RBS get here? image
Source : Guardian [Read Article] Friday 24th of February 2017 06:23:52 PM
....Sir Howard Davies, chair of Royal Bank of Scotland, described the £7bn loss the bank rang up last year as “stark”. But it is just a fraction of the bank’s towering total losses of £58bn over the nine years since it was bailed out by the taxpayer. ...
Royal Bank of Scotland losses more than treble to £7bn image
Source : BBC [Read Article] Friday 24th of February 2017 07:32:39 AM
....The bank - which is 72%-government owned - has racked up more than £50bn of losses since the £45. 5bn taxpayer bailout during the financial crisis. ...
RBS reports £7bn loss and says it will not make profit until 2018 image
Source : Guardian [Read Article] Friday 24th of February 2017 07:27:28 AM
....Royal Bank of Scotland has reported a new £7bn loss – its ninth consecutive year deep in the red – which has taken its total losses since the 2008 financial crash to more than £58bn. The 73% taxpayer-owned bank said it would not return to profit until 2018 and announced a £2bn cost-cutting plan, which will mean more job losses and branch closures to put the bank back in the black. ...
Green Investment Bank: Australian bidder woos MPs as protests continue image
Source : Guardian [Read Article] Thursday 23rd of February 2017 10:33:25 AM
....The government has refused to even confirm Macquarie is its preferred bidder, citing commercial sensitivity. Ministers have insisted the deal will be good value for money for taxpayers, who funded the bank’s launch in 2012, and that its “green purposes” of funding renewable energy and other environmentally sound projects will be protected by a special share owned by the government. ...
Australia Post chief resigns despite bumper profits image
Source : BBC [Read Article] Thursday 23rd of February 2017 03:35:29 AM
....It said Mr Fahour had developed an entirely new strategy for the business, "focused on investing in the parcels and eCommerce business". "It was the right strategy which has placed the postal service on the path to a sustainable future and avoiding a taxpayer bailout," chairman John Stanhope said. ...
Amazon, Deliveroo and Uber 'still viable' with no gig economy workers image
Source : Guardian [Read Article] Wednesday 22nd of February 2017 02:32:09 PM
....”. The Tory MP James Cartlidge said that given the cost of pensions and benefits to the taxpayer, “the more that people are in this pseudo-employment, the more we all feel that the state is picking up the bill”. ...
Savers need a balancing act to beat inflation image
Source : Guardian [Read Article] Monday 20th of February 2017 07:00:31 AM
.... They are potentially a bit of fun, but unless you get extremely lucky the return you’ll get can probably be beaten elsewhere. “They are possibly more worthy of consideration for higher rate taxpayers who have already used up their personal savings and Isa allowances,” he says. ...
Results will reveal the good, the bad and the ugly of UK banks image
Source : Guardian [Read Article] Sunday 19th of February 2017 03:37:29 PM
....The controversy over bankers’ pay is likely to be reignited as they disclose the size of their bonus pools and how much their bosses have received during a year when the vote for Brexit has helped turn the government’s attention on public anger over rising executive pay. RBS will continue to remain a major focus as its loss for 2016 will mean it will have spent nine years in the red since its taxpayer rescue in 2008. ...
Another Brexit downside: foreign giants in power grabs for famous British names image
....When Royal Bank of Scotland reports its results for 2016 this week, there will be another painful reminder of the 2008 crisis. The numbers are eye-watering: the ninth consecutive year of annual losses will mean the bailed-out bank has sunk into the red by more than £55bn since taxpayers pumped in £45bn to keep it alive. ...
Treasury plan may allow RBS to avoid selling 300 branches image
Source : Guardian [Read Article] Friday 17th of February 2017 09:29:15 PM
....A Treasury spokesperson said: “RBS must deliver on its remaining state aid commitments, and this new plan represents the most effective way of delivering the pro-competition objectives behind them. “This new plan provides a clear blueprint to increase competition in the UK’s business banking market, and would help RBS resolve one of its most significant legacy issues which has held back the sale of the taxpayers’ stake. ...
Trump's changed stance on Nato, will he sober up about IMF and WTO? | Barry Eichengreen image
.... In 2008, the Federal Reserve provided Brazil with a $30bn swap line to help it navigate the global financial crisis. But imagine the outrage with which Trump’s supporters would greet a “taxpayer bailout” of a foreign country or Mexican officials’ anger over having to secure assistance from the same Trump administration responsible for their country’s ills. ...
Bank of England will retain plastic £5 note, despite vegan protests image
Source : Guardian [Read Article] Wednesday 15th of February 2017 12:11:39 PM
....It said: “Withdrawing £5 polymer banknotes and stopping production of £10 polymer banknotes would have significant implications for the Bank’s anti-counterfeiting strategy and threaten continuity of supply of banknotes to the public. It would carry environmental risks and impose significant financial costs on the Bank, and thereby the taxpayer, and on the cash industry. ...

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