New 50p phone tax to pay for faster web access March 24, 2010 Chancellor Alistair Darling said yesterday that every telephone landline in the country will be subject to a monthly 50p tax to pay for faster internet access from October. The move was first unveiled as part of last year’s Digital Britain report and is expected to raise £175m a year to provide 50Mb per second broadband [...]
Cider proves bad apple of Darling’s eye March 24, 2010 CIDER drinkers will bear the brunt of the chancellor’s latest “sin” tax swoop, after Alistair Darling yesterday said the drink had enjoyed a disproportionately lengthy tax holiday. From midnight on Sunday, cider will face a tax increase of 10 per cent above inflation, a move the chancellor said would address a “long-standing anomaly which has [...]
Magistrates courts hit by closures March 24, 2010 TWENTY Magistrates Courts are due to be closed as part of a cost-cutting programme expected to save the Ministry of Justice (MOJ) £360m. The MOJ detailed plans of the closures yesterday as part of its contribution to an £11bn savings plan introduced by the government. Justice secretary Jack Straw said: “Due to the low utilisation [...]
Entrepreneurs sceptical of plans to help small businesses March 24, 2010 THE Government yesterday announced a range of promises designed to stimulate growth for entrepreneurs and small businesses. Its £2.5bn growth package includes a range of tax breaks and cuts in business rates as well as a commitment to the freeing up of credit. To aid what Darling calls “fledgling businesses”, as well as existing ones, [...]
City workers slam class war Budget March 24, 2010 THE City was left unconvinced by yesterday’s Budget, slamming Darling for failing to provide a clear outline on how the government was planning to reduce its huge deficit. Banks were being sent a contradictory message, critics said, pointing out that Darling has asked nationalised banks such as Lloyds and the Royal Bank of Scotland to [...]
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, [...]