Budget 2015: “Saving revolution” as Osborne pledges first-time buyer Isa March 18, 2015 George Osborne unveiled a Budget aimed at helping savers, first time buyers and pensioners today, with measures including a "Help to Buy Isa". Under the new rules, the government will contribute £50 for each £200 saved by first-time buyers. Savers who put away £12,000 could stand to make as much as £3,000 Just before he [...]
Budget 2015 summary: Analysts, economists and think tanks give their verdict on Osborne March 18, 2015 George Osborne delivered a Budget stacked with facts, figures and policies intended to ward off Labour's cost of living offensive and get the electorate on side before May the reactions are already flooding in. Here is a sampling of analysts' reactions to the final set-piece event of the coalition government. BNP Paribas' Dominic Bryant gives [...]
Budget 2015: No more paper tax returns, but how will the new digital system work? March 18, 2015 Could the best thing from the 2015 Budget be the end of tax returns as we know them? In an announcement that had taxes as a central theme, George Osborne announced a new, digitised tax-returns system. From early 2016, gone will be the days of wading through paper tax returns – instead HM Revenue and [...]
OECD downgrades UK growth forecasts as it warns of storm clouds ahead for the global economy March 18, 2015 UK downgraded George Osborne may have spent his morning extolling the progress of the UK economy, but the Organisation for Economic Cooperation and Development (OECD) has downgraded its forecasts for the UK’s growth this year, dropping its expectations to 2.6 per cent, from 2.7 predicted in the November 2014 report. The change brings the prediction [...]
FTSE 100 market report: Budget goodies lift oil majors March 18, 2015 Britain's blue-chip index was 0.1 per cent higher this lunchtime as investors digested the chancellor's budget. Chancellor George Osborne unveiled £1.3bn additional support for the struggling north sea oil and gas industry. He said the Office for Budget Responsibility predicts this will boost production by around 15 per cent. Crumbling oil prices have made a [...]
Brent oil falls below $53 on oversupply concerns March 18, 2015 Oil prices have been on a slippery slope since a brief rally at the start of this year, and it just got even greasier, after industry data out of the US fuelled oversupply concerns. Brent crude, which is the international benchmark, was trading down 0.9 per cent at $53 dollars per barrel today. Western Texas Intermediate, [...]
Uber’s chief executive is among 30 charged with operating illegal taxi ring in South Korea March 18, 2015 Uber has come under fire for operating an “illegal taxi ring” in South Korea. According to Yonhap News Agency, Seoul District Police have charged 30 people associated with the company, including chief executive Travis Kalanick. Others range from Uber Korea's brand manager to the heads of car rental companies and a number of drivers. [...]
Budget 2015 interactive: How much does each government department spend? March 18, 2015 The 2015 Budget is upon us, with the government looking to make a big statement ahead of the next election. But where does the money go? Public sector spending is complex web of departments and expenditure. Using this graphic you can explore government spending by department (for the financial year 2013-2014) and see exactly where [...]
Bank of England minutes: Strong pound risks exacerbating deflation March 18, 2015 Bank of England policymakers think the strong pound could exacerbate the current period of low inflation. Minutes released today showed the monetary policy committee believes divergent monetary policy trends, and a strengthening economy, could cause the pound to appreciate further. "This has the potential to prolong the period for which consumer price inflation would remain [...]
House prices near Crossrail stations have risen as much as 82 per cent since it was announced March 18, 2015 House prices within a 10 minute walk of Bond Street station have risen 82 per cent since Crossrail was first announced in 2008, a report published this morning suggested – almost twice the 43 per cent rise experienced in the wider area. Bond Street isn't the only over-performing Crossrail site, though: according to Knight Frank's [...]