If you needed more evidence that Osborne’s Autumn Statement was a disappointment, here it is December 5, 2013 We've said that Osborne's Autumn Statement really isn't today's big event. Now US GDP numbers that show the UK is no longer the rich world's fastest growing economy have proven that point. You can see what markets think of the two events in the yields of UK 10 year government bonds – which imply the [...]
Twitter’s finally found a way to get important people to sign up December 5, 2013 The former chief executive (CEO) of Pearson, Dame Marjorie Scardino, has just signed up to Twitter. @twitter Thank you. There couldn't be a more exciting time in Twitter's history to join! — Marjorie M Scardino (@marjscar) December 5, 2013 Why? Because Twitter has just appointed her to its board of directors. We're [...]
Here’s why BoAML thinks Bitcoin is going to reach silver status December 5, 2013 Bank of America Merrill Lynch (BoAML) has said that Bitcoin could become a major source of e-commerce and can become a serious competitor to traditional money transfer services. In BoAML's view Bitcoin has clear potential for growth. However, the bank believes Bitcoin's volatility remains a problem for its further development. BoAML estimate that if Bitcoin [...]
Osborne sticks to plan but is he ready for rising interest rates? December 5, 2013 The message emerging from George Osborne's Autumn Statement is that the UK's fiscal consolidation is far from over and the government remains committed to fiscal discipline. There was disappointing news on the deficit which did not fall by as much as had been predicted. Borrowing this year will amount to £111bn, analysts had expected borrowing [...]
US just stole Osborne’s limelight as it becomes rich world’s fastest growing economy December 5, 2013 US stock futures are now turning negative ahead of the market open at 2.30pm. That's because US economic data has been really good, and equities investors are petrified that the Fed will take away monetary support from the economy. Annualised GDP for the third quarter has been revised up to 3.6 per cent from 3.0 [...]
2 tech investments the chancellor didn’t mention December 5, 2013 The Global Collaborative Space Programme One thing George Osborne didn't mention in his delivery of the Autumn Statement was the establishing of a Global Collaborative Space Programme. And the £80m, five-year fund to help with UK involvement in the so-called programme. The initiative, says the government, will be "an international pillar to [...]
Osborne caps business rates on top of £1,000 discount December 5, 2013 George Osborne has extended rate relief for another year and will relax the rules that discourage businesses from expanding. All businesses with a rateable value of up to £50,000 will receive a £1,000 discount. Business rates will also be capped at two per cent from next April and businesses will be able to pay in [...]
Everything revealed in the Autumn Statement December 5, 2013 New cringeworthy slogans "Responsible recovery" and "fixing the roof while the sun is shining" have become popular with chancellor George Osborne's speechwriters. "Hardworking families" also got a mention. OBR growth estimates are up 2013: 1.4 per cent, up from 0.6 per cent in March2014: 2.4 per cent, up from 1.8 per cent in March2015: 2.2 [...]
More university places and compulsory placements for unqualified young December 5, 2013 The chancellor has just stressed that access to higher education is a tenet of a successful economy. So from next year, the government will create 30,000 more student places. In 2015, it'll abolish the cap on student numbers. It is also planning to sell off the remainder of its student loan book. When it comes [...]
Shale gas tax allowance will slash the amount paid on profits December 5, 2013 The chancellor has announced a new tax allowance for shale gas that halves the amount of tax paid on early profits. The chancellor praised Britain's innovative spirit and declared that the UK should not turn its back on new sources of energy.