Which country benefits most from economic growth? UK ranks below Ukraine and Russia May 28, 2015 Economic growth is generally considered a positive thing for the people living in that country – it brings jobs, opportunities and usually a higher standard of living. But how much that growth translates into what we can actually experience as improved level of well-being varies from country to country, and it turns out the UK [...]
Disposable income soars in London and Scotland – at the expense of north England May 28, 2015 People living in London and Scotland have experienced the biggest rise in their disposable income over the course of the twenty-first century – at the expense of the north of England. Disposable income in the capital rose faster than in any other part of the country, growing 75 per cent between 2000 and 2013. Scotland [...]
Disposable incomes in London lead UK despite financial crash May 27, 2015 London’s disposable incomes are highest at £22,516 on average Disposable incomes in London pulled further ahead of those in the rest of the country over the past 15 years, official figures showed yesterday, despite the capital being the epicentre of the financial crisis. Spending power across the UK has grown enormously since 1997, with [...]
Prudential says men can expect to earn their first million by 50 – 19 years before female colleagues May 27, 2015 A man on average income will earn his first million nearly two decades before an average female worker, according to new analysis from Prudential out today. The insurance company crunched the numbers from the latest Office for National Statistics (ONS) survey of hours and earnings, finding that male workers earn £1m by the time they [...]
Greece’s creditors dismiss Prime Minister Alexis Tsipiras claim they’re close to drafting a deal May 27, 2015 Greece's creditors have poured cold water on the cash-strapped country's claim that the parties were nearing a deal which would pave the way for the additional funding it desperately needs. Greece's government has been locked into high stakes talks with its creditors the European Union, the European Central Bank and the IMF since February. And without [...]
EU residents to be banned from having undeclared income in Swiss banks May 27, 2015 The EU and Switzerland have signed a deal to stop EU residents holding undeclared income in Swiss bank accounts. The transparency agreement will be introduced at the start of 2018, and from then on Switzerland and the EU will share information relating to the bank accounts of their respective citizens. This includes names, addresses, [...]
Disposable income: This is how your spending power breaks down by region May 27, 2015 Between 1997 and 2013, people living in just four regions in the UK saw their disposable income increase when compared to the UK average. London saw the biggest jump, rising from an indexed level of 121.9 (where 100 is the average) in 1997 to 128.2 in 2013. Scotland, Wales and Northern Ireland all saw [...]
UK brushes aside German plan for EU-wide minimum rate of corporation tax May 26, 2015 The government has knocked back a move by German authorities to introduce a minimum rate of corporation tax across the European Union, saying that such proposals would not survive a vote involving the EU’s 28 member states. It is understood that German Chancellor Angela Merkel and French President Francois Hollande want to introduce such [...]
Greece slams IMF: Yanis Varoufakis hits out at creditors for deal stalemate May 26, 2015 Greece's firebrand finance minister yesterday blasted the International Monetary Fund (IMF) for playing hardball in negotiations, as fears the country will default on its debt sent up the interest rate on its government bonds. “It’s about time the institutions, in particular the IMF, get their act together, and come to an agreement with us,” [...]
Bank of England offical Martin Taylor: Regulation will not drive big lenders out of the UK May 26, 2015 The Bank of England will not back down on tough regulation, top official and ex-Barclays boss Martin Taylor said in a speech published yesterday, dismissing threats from banks like HSBC that they could leave the UK for more welcoming shores. Some in the industry have started to argue that banks are now safe, and [...]