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Monday 10th of January 2011

News Tag: Labour

May 10, 2010

Gordon Brown announces resignation

by Kay Murchie
’Gordon Gordon Brown has this evening announced he is stepping down as Labour leader. Speaking outside 10 Downing Street, Mr Brown, who has been Prime Minister since June 2007 after the resignation of Tony Blair, said he intended to stand down as Labour leader "in the national interest". The news comes after Friday’s hung parliament result, which failed to give any political party ...

April 28, 2010

IFS warns of severe spending cuts in the years to come

by Kay Murchie
A report from the Institute for Fiscal Studies (IFS) claims the UK will face deep public spending cuts in the years between 2011 and 2015. According to the Institute, if the three main political parties are to meet their budget commitments, then the UK will see the harshest spending cuts since years between 1976-1980. However, the IFS has ...

April 13, 2010

UK trade deficit narrows in February

by Kay Murchie
The Office for National Statistics (ONS) has today revealed the UK’s trade gap narrowed in February, due to a recovery in exports. According to the ONS, goods exports surged 9.5% in February, following on from a wintry January which affected trade. The ONS said the February deficit on goods trade narrowed to £6.17 billion, down from £7.52 billion in January and the smallest ...

Labour pledges to increase basic state pension

by Kay Murchie
Labour pledges to increase basic state pension
As the Labour Government’s general election campaign continues, its latest pledge is to increase the basic state pension in accordance with earnings from 2012 - provided the party is re-elected. The pensions-earnings link was scrapped by Margaret Thatcher thirty years ago and replaced with the retail price inflation index (RPI). However, with pensions being linked to the RPI, it has meant ...

April 12, 2010

VAT could rise to 20%

by Kay Murchie
The Labour Government is not ruling out a VAT rise but is set to pledge not to raise income tax rates for the lifetime of the next Parliament. These are two items set to be on Prime Minister Gordon Brown’s election manifesto today in Birmingham. However, while the PM is leaving open the possibility of VAT reaching 20%, items such as children's clothing ...

April 5, 2010

Labour defend National Insurance rise

by Kay Murchie
Chancellor Alistair Darling has been forced to defend Labour’s planned rise in National Insurance (NI) contributions after the Conservative Party said the hike would lead to job losses. Last month’s Budget confirmed that the Labour Government will raise National Insurance contributions by a further 0.5% from next year, on top of the 0.5% rise announced in 2008. However, the Conservative party have said avoiding ...

October 12, 2009

Government orders £16bn asset sale to reduce public debt

by Kay Murchie
In an effort to tackle Britain's spiralling public debt, the Government has today unveiled proposals that will see it raise £16 billion via asset sales. In order to reduce the budget deficit, which is set to hit a record £220 billion (the equivalent of 12% of GDP), the Government has taken action by ordering sale of assets worth £16 ...