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30th of December 2010
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News Tag: system

October 11, 2010

Government announces incapacity benefit changes

by Kay Murchie
As part of the coalition Government’s welfare crackdown, Iain Duncan Smith, Work and Pensions secretary, has today announced that those on incapacity benefit will be forced to undergo medical tests. The tests, which will be trialled in Burnley and Aberdeen from today, will be rolled out throughout the country from next April. The move, which is aimed at saving billions of pounds, will see ...

September 14, 2010

Indian inflation rate eases to 8.5% in August

by Kay Murchie
India's inflation rate fell last month to its lowest level since January, Government data showed today. Headline inflation eased to 8.5% in August from a revised 9.8% in July - however, this partly due to a change in the way the index is calculated. The new index includes a wider range of consumer goods, such as computers, scooters and refrigerators. August's ...

August 1, 2010

Iain Duncan Smith calls for massive shake-up of benefits system

by Kay Murchie
In the Government’s emergency budget in June, it was revealed that the benefits system would be in line for a radical overhaul. One option being considered would see unemployment benefits and tax credits abolished and replaced with a single payment, Work and Pensions Secretary, Iain Duncan Smith, has announced. The move is designed to cut down on benefit spending ...

July 29, 2010

Default retirement age to be scrapped from October 2011

by Kay Murchie
Default retirement age to be scrapped from October 2011
A shake-up of the retirement system will see the default retirement age scrapped in the UK from October 2011. Under new Government proposals to be unveiled later today, employers will no longer have the legal right to terminate the employment of a 65-year-old. Charities such as Age UK and activists have welcomed the new proposals as a "victory" against ...

June 28, 2010

Coalition proposes controversial plans for unemployed

by Kay Murchie
Proposals have been unveiled by Work and Pensions Secretary, Iain Duncan Smith, which could see unemployed people encouraged to seek jobs outside the areas where they live. According to Mr Duncan Smith, millions of people are "trapped in estates where there is no work" but have been unable to relocate because it would mean giving up their right to a home. However, the ...

June 16, 2010

France reveals overhaul to pensions system

by Kay Murchie
The French Government has announced the country’s retirement age will be lifted from 60 to 62 by 2018, as part of a sweeping overhaul to its pension system. The new measures are to be implemented to cut France's pension costs and reduce public borrowing. However, the shake-up has met with public anger after tens of thousands of people protested in Paris yesterday, ...

June 18, 2009

BoE Governor presses Chancellor for major financial regulatory reform

by Kay Murchie
Mervyn King, the Governor of the Bank of England, is calling for major regulatory reform, but Chancellor Alistair Darling said there are no plans to change the current financial regulatory system. The news comes as US President Barack Obama is proposing a major reform of banking regulation in order to prevent future meltdowns of the US banking system. Mr Obama ...