News Tag: Pre-Budget report
March 16, 2010
A report due to be released later this week by the European Commission is expected reveal the Government’s plans for reducing the budget deficit are not ambitious enough.
A draft document, which has been seen by the Reuters news agency, warns Britain is not on target to trim its deficit in accordance with EU rules of below ...
EU report calls for more action in reducing UK budget deficit
by Kay Murchie
January 20, 2010
In an interview with Sky News, HSBC chief executive Michael Geoghegan has warned of the dangers of the new super tax, introduced by the Government to claw back some of the bailout funds used to rescue the banking industry.
The warning comes just a week after London Mayor, Boris Johnson, warned that high-earning bankers are leaving the capital because of the super ...
HSBC chief warns of super tax
by Kay Murchie
January 15, 2010
London Mayor, Boris Johnson, has warned that high-earning bankers are leaving the capital because of the super tax which has been introduced by the Government.
In the recent Pre-Budget Report (PBR), UK Chancellor Alistair Darling confirmed there would be a one-off 50% tax on bankers’ bonuses paid above £25,000.
The Chancellor said the banks, rather than the bankers, will pay the ...
Super tax is threat to London warns Mayor
by Kay Murchie
December 21, 2009
HM Revenue & Customs (HMRC) has confirmed that the bank bonus tax will not apply to staff of non-banking firms such as insurers, assets managers and stockbrokers.
There were queries about which organisations would be affected by the 50% tax, which was announced the Pre-Budget Report, but it has been confirmed that it will apply to retail ...
HMRC confirms which organisations are affected by new super tax
by Kay Murchie
December 14, 2009
The UK branch of the Turnaround Management Association (TMA) is warning that Alistair Darling's bid to postpone tackling Britain's debt mountain until after next year's General Election creates a real risk of the country's credit rating being downgraded.
The body, which represents practitioners in corporate renewal and turnaround management, believes the delay could have "severe" medium-term consequences for British business and ...
Government sacred cows endanger UK turnaround
by Gill Montia
December 10, 2009
In yesterday's pre-Budget report, Chancellor of the Exchequer Alistair Darling confirmed that the Government's Support for Mortgage Interest scheme will be extended for another six months.
The scheme was introduced earlier this year, with the intention of helping mortgage borrowers remain in their homes if they suffer a temporary fall in income, but are expected to recover at a later date.
For those who ...
Support for Mortgage Interest scheme extended
by Gill Montia
No extension to stamp duty holiday
by Gill Montia
December 9, 2009
At today’s Pre-Budget Report, Chancellor of the Exchequer Alistair Darling unveiled measures to claw back money in order to pay off the UK’s spiralling debt.
Mr Darling confirmed there would be a one-off 50% tax on bankers' bonuses paid above £25,000.
The Chancellor said the banks, rather than the bankers, will pay the tax and the temporary measure will come into ...
Darling unveils plans to cut UK’s ballooning debt
by Kay Murchie
Pre-Budget Report: Chancellor told Britain facing ‘fiscal crisis’
by Kay Murchie
December 7, 2009
Over the weekend, it emerged that Chancellor Alistair Darling is expected to announce a windfall tax on British banks in Wednesday‘s Pre-Budget Report.
The measure is one of many being planned by Mr Darling to target high earners. Other measures include increasing the number of people liable to pay inheritance tax, as well as an increase in capital gains tax. ...
Banking industry criticise Treasury’s plans for windfall tax
by Kay Murchie
Government unveils plans to slash public spending
by Kay Murchie
December 6, 2009
In the Pre-Budget Report this week, Chancellor Alistair Darling is expected to announce a windfall tax on British banks.
The measure is one of many being planned by Mr Darling to target high earners. Other measures include increasing the number of people liable to pay inheritance tax, as well as an increase in capital gains tax.
While the speculation will not ...
Plans for windfall tax on bankers’ bonuses
by Kay Murchie
November 30, 2009
In next month’s pre-Budget report, Chancellor Alistair Darling is expected to sharply revise his forecast downwards for the UK economy, according to Treasury sources.
The Chancellor is expected to say that the UK economy contracted by 4.75% in 2009 - far more than the 3.5% he predicted in March’s Budget.
However, while he is expected to admit that ...
Chancellor set to admit recession worse than feared in pre-Budget report
by Kay Murchie
November 11, 2009
The Bank of England’s latest quarterly inflation report, published today, has revealed a much better outlook for the UK economy than its previous report in August.
The Bank increased its forecast for economic growth over the next two years predicting that gross domestic product (GDP) should rise above 4% early 2011 before slowing to 3% by the end of 2012.
In its ...
Bank issues latest quarterly inflation report
by Kay Murchie
March 24, 2009
David Blanchflower, one of the more publicly recognised policy makers in the Bank of England, has given a warning shot to the government that unless evasive action is taken in order to tackle the recession head on, by spending in excess of £90bn on new projects, unemployment may reach unthinkable levels of 4 million.
The plan ...
David Blanchflower predicts unemployment could reach 4 million
by Peter Charalambous
December 11, 2008
Further details have emerged of the Government's plans to help homeowners struggling with mortgage payments, as outlined in the Chancellor of the Exchequer's November pre-budget report.
The new measures allow homeowners who fit the criteria to defer interest payments on their loans for a period of up to two years.
The Government will guarantee a proportion of any loss to the lender ...
Further details of deferred mortgage repayment scheme
by Gill Montia
November 24, 2008
After today’s Pre-Budget Report was delivered by Chancellor Alistair Darling, the FTSE 100 soared nearly 10% (the biggest ever one-day gain), as plans to boost the UK’s economy were unveiled.
The measures announced by the Chancellor are hoped to prevent the economy from a ‘very deep recession’. However, the measures come at a high price as borrowing is set to rise significantly over ...
Pre-Budget Report key points unveiled
by Kay Murchie
Darling to unveil tax increases for wealthy in Pre-Budget Report
by Kay Murchie
November 23, 2008
Chancellor Alistair Darling is to announce plans to boost the economy in his Pre-Budget report this week.
The plans are expected to include spending rises and a cut in VAT by 2.5% in a bid to stimulate the economy and prevent a ‘very deep recession’.
However, the plans will come at a huge price as the Government plans to borrow over ...
Darling’s plans to boost economy are revealed
by Kay Murchie
