Motorists 3p petrol duty hike to rise in stages to ease pressure on businesses March 24, 2010 MOTORISTS will see a marginal rise in fuel prices after chancellor Alistair Darling outlined plans to increase petrol duty by 3p a litre over the next year. Darling said yesterday during the Budget that fuel duty will rise by 1p from 1 April, again on 1 October and finally on 1 January 2011. The news [...]
Winter fuel allowance to be extended into 2010 March 24, 2010 THE government said yesterday it would guarantee higher winter fuel payment of £250 for pensioners and £400 for pensioners over 80 for another year. Analysts said this measure would cost the government £600m. Last year was the coldest winter in 30 years and coupled with high energy costs it left many pensioners struggling to pay [...]
Reits win out in battle to offer investors dividends in stock March 24, 2010 ALISTAIR Darling yesterday announced that UK real estate investment trusts (Reits) will be allowed pay dividends in stock instead of cash. The proposed legislation comes as a relief to a sector that has struggled to conserve cash during the downturn. It will be introduced as soon as possible in the next Parliament, according to yesterday’s [...]
Government to rewrite employment tax rules March 24, 2010 NEW anti-avoidance measures to reduce employment tax evasion were introduced by chancellor Alistair Darling yesterday, with the government set to create new legislation next year. Employee benefit trusts, alternative pension structures and geared growth on share arrangements were some of the areas Darling said the government will focus on during consultations this summer. The measures [...]
Darling lowers 2010 borrowing forecast March 24, 2010 CHANCELLOR Alistair Darling yesterday announced an £11bn reduction in the Treasury’s borrowing forecast for 2009-10 to £167bn and reiterated his pledge to halve the budget deficit within four years. Under new forecasts announced during the Budget, public borrowing will fall to £74bn in 2014-15, the end of the forecast period. As a share of GDP, [...]
Budget makes £100m available so that British drivers can travel in comfort March 24, 2010 THE freezing winter has forced Alistair Darling into spending £100m on none other than potholes. The craters were opened up by the wear and tear of lorries and cars on our snow filled roads from November through to the end of February. A report published yesterday showed that pothole repairs rose 40 per cent last [...]
Bellway ups dividend on profit return March 24, 2010 HOUSEBUILDER Bellway is looking to boost its activity levels in coming months after returning to profit in its first half trading. The UK’s fifth largest housebuilder, led by chief executive John Watson, posted profits of £19m for the six months to 31 January amid strong growth in the number of homes sold. This compares to [...]
Delta booms after Leighton counterbid derails Valmont March 24, 2010 SHAREHOLDERS in Delta, the engineered steel specialist, cheered as Australian services company Leighton gatecrashed an unpopular takeover attempt by Valmont Industries of the US yesterday. Delta said it was in talks about a possible offer with a third party, identified by market sources to City A.M. as Leighton. The move comes after Delta’s board recommended [...]
Soco reassures on funding needs March 24, 2010 SOCO International, the oil explorer, reported a full-year net profit yesterday that missed market expectations, but said it did not require additional funding in the short term. For the year ended 31 December, the company posted a net profit of $51.1m (£34.3m), compared with $411.1m a year ago. The company had made a profit of [...]
Smiths boosts sales by 12pc March 24, 2010 SMITHS Group, the technology firm, reported a 12 per cent increase in first-half profits as margins improved to a 10-year high thanks to cost cuts. Smiths, whose products range from airport x-ray scanners to medical equipment, posted headline operating profit for the six months to the end of January of £207m on sales down one [...]