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.... In fact, it now looks representative. The full extent of the fallout from the deal – for the MoD, residents and taxpayers – is only now being understood. ... [Read full article on Guardian ]
Tuesday 25th of April 2017 04:30:38 AM
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....The government now holds less than 2% of Lloyds - down from 43. 4% when it was bailed out by the taxpayer at the height of the financial crisis. ... [Read full article on BBC ]
Thursday 27th of April 2017 06:33:36 AM
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....5bn to the economy by moving freight alone. The SMMT said that, on average, modern diesel vans use around 50% less fuel than petrols, which means lower fuel bills for operators and a knock-on benefit for consumers and taxpayers. ... [Read full article on BBC ]
Monday 24th of April 2017 11:39:01 PM
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.... . During the financial crisis, bad loan losses chewed through banks' capital reserves and lenders including Royal Bank of Scotland and Lloyds had to be given new capital by taxpayers, making them part-nationalised. ... [Read full article on BBC ]
Friday 28th of April 2017 02:26:12 PM
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....The union’s general secretary, Mick Cash, said: “This is yet another landgrab on Britain’s railways by the French state with SNCF and Richard Branson both realising that this new franchise will be a one-way ticket to the bank for whoever comes out on top in this latest UK rail lottery. “The integrated HS2/west coast operation has been bought and paid for by the British people and should be run by the British state in the public interest and not by some consortium of speculators looking to make a killing at the taxpayer’s expense. ... [Read full article on Guardian ]
Tuesday 25th of April 2017 12:47:58 PM
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....Millions of Royal Bank of Scotland and Lloyds Banking Group customers have had difficulty accessing their accounts after the banks suffered IT meltdowns before the long weekend. On Friday, when RBS was trying to focus on its first quarterly profit since the third quarter of 2015 and Lloyds on the news that the taxpayer’s shareholding had fallen to less than 1%, both banks instead faced questions about their digital operations. ... [Read full article on Guardian ]
Friday 28th of April 2017 03:24:55 PM
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.... There was a further £100m in unspecified misconduct charges. Horta-Osório is facing speculation that he will leave once the taxpayer stake has been completely sold but he said he was happy at the bank, which is in the throes of taking over credit card company MBNA. ... [Read full article on Guardian ]
Thursday 27th of April 2017 06:33:22 AM
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....Royal Bank of Scotland has reported its first quarterly profit since 2015, as it looks to turn a corner after nine years of losses since its £45bn bailout during the financial crisis. The bank, 73% owned by the taxpayer, reported a £259m profit in the first quarter of 2017. ... [Read full article on Guardian ]
Friday 28th of April 2017 06:57:09 AM
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.... The combined bank was bailed out with £20. 3bn of taxpayers’ money, but last week Philip Hammond said the government had recouped its cash by selling off its stake from 43% to less than 2%. ... [Read full article on Guardian ]
Wednesday 26th of April 2017 11:03:08 AM
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Latest Finance News related to Taxpayer

RBS and Lloyds IT faults cause online banking frustrations image
Source : Guardian [Read Article] Friday 28th of April 2017 03:24:55 PM
....Millions of Royal Bank of Scotland and Lloyds Banking Group customers have had difficulty accessing their accounts after the banks suffered IT meltdowns before the long weekend. On Friday, when RBS was trying to focus on its first quarterly profit since the third quarter of 2015 and Lloyds on the news that the taxpayer’s shareholding had fallen to less than 1%, both banks instead faced questions about their digital operations. ...
'Fire sale' risk with Bank capital approach, says Vickers image
Source : BBC [Read Article] Friday 28th of April 2017 02:26:12 PM
.... . During the financial crisis, bad loan losses chewed through banks' capital reserves and lenders including Royal Bank of Scotland and Lloyds had to be given new capital by taxpayers, making them part-nationalised. ...
RBS reports first quarterly profit since 2015 image
Source : Guardian [Read Article] Friday 28th of April 2017 06:57:09 AM
....Royal Bank of Scotland has reported its first quarterly profit since 2015, as it looks to turn a corner after nine years of losses since its £45bn bailout during the financial crisis. The bank, 73% owned by the taxpayer, reported a £259m profit in the first quarter of 2017. ...
Lloyds profits double to £1.3bn despite PPI and fraud payouts image
Source : Guardian [Read Article] Thursday 27th of April 2017 06:33:22 AM
.... There was a further £100m in unspecified misconduct charges. Horta-Osório is facing speculation that he will leave once the taxpayer stake has been completely sold but he said he was happy at the bank, which is in the throes of taking over credit card company MBNA. ...
Lloyds appoints ex-high court judge to review handling of HBOS fraud image
Source : Guardian [Read Article] Wednesday 26th of April 2017 11:03:08 AM
.... The combined bank was bailed out with £20. 3bn of taxpayers’ money, but last week Philip Hammond said the government had recouped its cash by selling off its stake from 43% to less than 2%. ...
Virgin, Stagecoach and France's SNCF link up for HS2 bid image
Source : Guardian [Read Article] Tuesday 25th of April 2017 12:47:58 PM
....The union’s general secretary, Mick Cash, said: “This is yet another landgrab on Britain’s railways by the French state with SNCF and Richard Branson both realising that this new franchise will be a one-way ticket to the bank for whoever comes out on top in this latest UK rail lottery. “The integrated HS2/west coast operation has been bought and paid for by the British people and should be run by the British state in the public interest and not by some consortium of speculators looking to make a killing at the taxpayer’s expense. ...
Diesel vehicles important for UK economy, says industry image
Source : BBC [Read Article] Monday 24th of April 2017 11:39:01 PM
....5bn to the economy by moving freight alone. The SMMT said that, on average, modern diesel vans use around 50% less fuel than petrols, which means lower fuel bills for operators and a knock-on benefit for consumers and taxpayers. ...
Pensioners’ election REBELLION: Demands for May to look at pension issue for UK's 5MILLION image
.... . Domestic changes to the taxpayer funded pension were introduced in the United Kingdom in 1995 and updated by a variety of governments over the years. ...
Lloyds bank bailout repaid in full, says Philip Hammond image
Source : Guardian [Read Article] Friday 21st of April 2017 05:00:20 PM
....3bn it ploughed into Lloyds Banking Group during the financial crisis, the chancellor has said. Just days after admitting that the taxpayer faced multibillion-pound losses on its stake in Royal Bank of Scotland, Philip Hammond said the government had now “recovered every penny of its investment in Lloyds”. ...
Protectionism is rising the world over. Our best defense is fighting inequality | Wally Adeyemo image
.... The IMF lending toolkit should not be overly constrained by inflexible requirements that limit its ability to prevent and respond to a crisis. Fears that all but the most rigid standards will put taxpayer money at risk are significantly exaggerated. ...
Green Investment Bank sell-off: only time will tell how green it is | Nils Pratley image
.... It will report on progress in honouring GIB’s green investment principles. It will aim to invest £1bn a year in green energy projects, more than the £700m-ish that GIB was achieving via taxpayer funding. ...
Green Investment Bank sell-off described as a disaster by critics image
Source : Guardian [Read Article] Thursday 20th of April 2017 03:22:54 PM
....The climate change and industry minister, Nick Hurd, said the sale had been backed by the GIB’s independent board, and ensured that the £1. 5bn taxpayer investment had been recouped with a £200m profit. ...
Green Investment Bank to be sold off in £2.3bn deal image
Source : Guardian [Read Article] Wednesday 19th of April 2017 08:54:43 PM
....Labour, the Liberal Democrats and the Green party have criticised the sale, questioning Macquarie’s track record and commitment to green energy. Former ministers including Lord Barker and Vince Cable also warned the taxpayer risks being shortchanged by the sale because some of its assets will be worth far more later. ...
How much do you have to earn to be rich? £70,000, says Labour image
Source : Guardian [Read Article] Wednesday 19th of April 2017 03:40:40 PM
....The reality is that relatively few people earn more than £70,000 a year. Data from HMRC shows that just over 5% of taxpayers earned at least this amount in 2014-15. ...
Reality Check image
Source : BBC [Read Article] Wednesday 19th of April 2017 01:31:06 PM
....Reality Check verdict: The government is very reliant on richer people for its funding. More than a quarter of income tax is paid by the 1% of taxpayers with the highest incomes. ...
RBS stake may be sold at a loss, chancellor admits image
Source : BBC [Read Article] Tuesday 18th of April 2017 11:01:26 PM
....He added: "Our policy remains to return the bank to private hands as soon as we can achieve fair value for the shares, recognising that fair value could well be below what the previous government paid for them. "We have to live in the real world and make decisions on the future of our holding in RBS in the best interests of taxpayers. ...
Philip Hammond admits taxpayers' RBS stake is likely to be sold at a loss image
....Philip Hammond has signalled that the government is facing a multibillion-pound loss from selling off its 73% stake in Royal Bank of Scotland. The chancellor told MPs that that “we have to live in the real world”, as he indicated that the remaining shares could be sold below the 502p average price that was paid for them during 2008 and 2009 when £45bn of taxpayers’ money was pumped into the Edinburgh-based bank. ...
Should you resist Lisa … out to lure you into saving for a property or retirement? image
.... You will not pay tax when drawing retirement income, compared to a pension on which you pay tax at your personal rate aside from a 25% tax-free lump sum. In terms of tax benefits, pensions are a clear winner for higher rate taxpayers. ...
But it was spreads that put the ‘uni’ in Unilever image
Source : Guardian [Read Article] Sunday 16th of April 2017 06:00:23 AM
. One of the most memorable gags from long-running sitcom Only Fools and Horses centres on the road sweeper, Trigger, receiving a medal from the local council, awarded to him for saving taxpayers’ money by dutifully keeping the same broom for 20 years. ...
Bernard Matthews seller 'lined own pockets' by rejecting pension offer image
....“No attention has been paid to the hardship caused to retired and existing employees. It is all too easy for companies, their directors and shareholders to extract cash and dump pension obligations to employees, leaving the Pension Protection Fund or taxpayers to foot the bill, and effectively boost returns to corporate elites. ...
Six jumbo jets long … the £2.4bn ship that can lift an oil rig image
Source : Guardian [Read Article] Wednesday 12th of April 2017 05:30:26 AM
....4bn) ship. More than 100 rigs are due to be decommissioned in UK and Norwegian waters over the next 10 years at a cost of billions to oil companies and taxpayers. ...
Government 2.2% savings bond goes on sale image
Source : BBC [Read Article] Tuesday 11th of April 2017 08:00:16 AM
....Two years ago, so-called pensioner bonds offered a return of up to 4%. The interest will be subject to income tax, although basic rate taxpayers can earn £1,000 a year in savings interest without paying tax. ...
Southern rail boss paid £495,000 image
Source : Guardian [Read Article] Monday 10th of April 2017 10:09:03 AM
....“A Labour government would bring the railways into public ownership as franchising agreements lapsed, a policy which has wide support right across the country. Accordingly, under Labour the railways would be run in the public sector, in the best interests of taxpayers and passengers alike. ...
My week as an Uber courier: my bike got stolen, but I kept my five-star rating image
.... They are not paying sick leave, national living wage, or contributing to pensions. Yet it seems likely that their employment practices will lead more people to need taxpayers to pick up these costs. ...
Peers push to reverse bereavement benefit changes image
Source : Guardian [Read Article] Thursday 6th of April 2017 01:53:48 PM
....Henley said he rejected her characterisation of the changes as cuts. “There will be no initial savings to the taxpayer in the first two years. ...
Why BlackRock wants to pay George Osborne £650,000 a year | Nils Pratley image
....BlackRock’s closeness to politicians has also come under the spotlight in the past, notably during the financial crisis of 2007-09, when the US administration turned to the firm for help in analysing and solving the meltdowns at investment bank Bear Stearns, giant insurer AIG and government-backed mortgage lenders Fannie Mae and Freddie Mac. Back then, the explanation was that BlackRock’s expertise in analysing risk served the interests of the American taxpayer. ...
Uber contract 'gibberish', says MP investigating gig economy image
Source : Guardian [Read Article] Thursday 6th of April 2017 06:01:33 AM
.... They are not paying sick leave, national living wage, or contributing to pensions. Yet it seems likely that their employment practices will lead more people to need taxpayers to pick up these costs. ...
Speedboat among £5.1m of assets seized in tax fraud investigation image
Source : Guardian [Read Article] Wednesday 5th of April 2017 06:53:57 PM
....Paul Maybury, assistant director of fraud investigations at HM Revenue & Customs, said: “We are working closely with our partners in the Netherlands and Austria to tackle suspected tax evasion. “The vast majority of taxpayers pay the tax they owe, but where we suspect people aren’t paying what’s due, we will use our full range of powers to ensure that nobody is beyond our reach. ...
UK new car sales speed to record high image
Source : Guardian [Read Article] Wednesday 5th of April 2017 09:14:46 AM
.... The German and French governments have already demanded that manufacturers including Volkswagen, Opel, Audi, Mercedes and Renault fix more than a million diesel vehicles. Greg Archer, director of clean vehicles at NGO Transport & Environment and a former UK government air pollution adviser, said: “The polluter should be paying, not the consumer and not the taxpayer. ...
Premium Bond winners to FALL in May: Savers warned as returns tumble image
Source : Daily Express [Read Article] Tuesday 4th of April 2017 04:21:00 PM
.... "Against the back drop of cash ISA rates halving since the Brexit vote in June, premium bonds are still attractive for their security and the prospect of winning a prize - if you are earning nothing on your cash, being in a prize draw with the small chance of a win still looks an attractive option compared to the returns on cash accounts. "Commenting on the cuts, Steve Owen, acting chief executive at NS&I, said: “The new rates reflect current market conditions and allow us to continue to strike a balance between the needs of our savers, taxpayers and the stability of the broader financial services sector. ...
North Sea oil and gas industry cost UK taxpayer £396m in 2016 image
Source : Guardian [Read Article] Tuesday 4th of April 2017 12:25:40 PM
.... But the future outlook is uncertain, given the costs of decommissioning and the fluctuations in the oil price. In March 2016 the Office for Budget Responsibility forecast that the sector would receive a net payment of £1bn a year for the next five years from UK taxpayers. ...
Lloyds to shrink hundreds of UK branches to two staff image
Source : Guardian [Read Article] Monday 3rd of April 2017 06:29:14 PM
....Simon Kirby, the economic secretary to the Treasury, said: “I welcome this further progress in returning Lloyds to the private sector. We have now recovered over £20bn for the taxpayer and are very close to recovering all of the money taxpayers injected into the bank during the financial crisis. ...
Welfare shakeup 'will push a quarter of a million children into poverty' image
....Ministers have argued a two-child limit will act as a “behaviour change” incentive to persuade poorer families to have fewer children, although the government’s own impact assessment says there is no evidence to suggest this is likely. They claim the policy will “enhance the life chances of children” because it will ensure that parents “make choices based on their circumstances rather than on taxpayer subsidies”. ...
Mortgage tax relief cut doesn’t add up for buy-to-let landlords image
Source : Guardian [Read Article] Saturday 1st of April 2017 06:00:17 AM
....However, campaign groups such as Generation Rent, say the changes could dampen property speculation and create a fairer market. The table (below left) provided by John Charcol shows how the tax change might work in practice, and is based on a 40% taxpayer with a £450,000 house, on which they have a £337,500 interest-only mortgage with an interest rate of 5. ...
Cash in the pocket image
Source : BBC [Read Article] Friday 31st of March 2017 09:16:50 PM
Google reveals latest UK tax bill image
Source : BBC [Read Article] Friday 31st of March 2017 02:19:00 PM
...." . HMRC declined to comment on Google's tax payment, saying it did not discuss identifiable taxpayers. ...
Government raises £11.8bn with Bradford & Bingley mortgage sale image
Source : Guardian [Read Article] Friday 31st of March 2017 09:15:51 AM
....The chancellor has triggered the sale of an £11. 8bn package of Bradford & Bingley loans bought by the taxpayer at the height of the financial crisis. ...
Credit Suisse embroiled in major global tax evasion investigation image
Source : Guardian [Read Article] Friday 31st of March 2017 08:17:57 AM
....The country’s Fiscal Information and Investigation Services (FIOD) has reportedly been handed the names of 3,800 account holders and details of 55,000 accounts by a Dutch informant. Dozens of Dutch taxpayers are under investigation. ...
Bradford & Bingley mortgage sale raises £11.8bn image
Source : BBC [Read Article] Friday 31st of March 2017 06:57:25 AM
...."The sale of these Bradford & Bingley assets for £11. 8bn marks another major milestone in our plan to get taxpayers' money back following the financial crisis," Chancellor Philip Hammond said in a statement. ...
South Africa leaders divided after President Zuma sacks Gordhan image
Source : BBC [Read Article] Thursday 30th of March 2017 10:39:38 PM
....The bond markets, this is where government debt is sold and the values are directly linked to the prospects of the economy have also reacted negatively. For foreign investors that is a boon, but for South African taxpayers subsidising the state it does not represent value for money. ...
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. ...

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