Mansion House speech: George Osborne says budget surplus will be a legal mandate June 9, 2015 Chancellor of the Exchequer George Osborne will use a major speech in the City tonight to introduce a new law requiring future governments to run an overall budget surplus. “The result of this recent British election, and the comprehensive rejection of those who argued for more borrowing and more spending, gives our nation the [...]
One chart showing which government departments will face the biggest cuts June 4, 2015 The government on Thursday announced it will be making £4.5bn in cuts in an effort to bring down the nation’s debt. Part of the savings will be made by selling of the remaining 30 per cent of Royal Mail, but much will come from departments. £2.7bn (and a further £345,000,000 from the Kings cross property [...]
Queen’s Speech 2015: Let’s hope the Tories are saving the radicalism for the Budget May 27, 2015 We were told we’d never see such a sight again. Majorities were a thing of the past, they said, and coalition politics was here to stay. And yet there it was yesterday – resplendent in all the finery and pageantry that the British state can muster – a legislative programme for a majority Tory government. [...]
Moody’s doubts government’s ability to meet its deficit targets May 26, 2015 Credit ratings agency Moody's has questioned the speed by which the new government will be able to shrink its gnawing budget deficit. "We expect the budget deficit to decline continuously over the coming years, a credit positive," Moody's said. "However, we also believe that the pace of adjustment might be somewhat slower than the government [...]
New budget 2015: George Osborne uses CBI speech to lay out government plans to tackle the productivity puzzle May 20, 2015 George Osborne offered a glimpse of what to expect at the 8 July budget when he gave a speech to the Confederation of British Industry (CBI) this evening, with productivity a major focus. Also top of the agenda is the merging of the Shareholder Executive – the body that runs the government’s financial interests in [...]
Chancellor George Osborne to deliver new budget on 8 July May 16, 2015 Chancellor George Osborne has said he will deliver a new budget "for working people" on 8 July following the Conservative's shock electoral win last week. "On the 8th of July I am going to take the unusual step of having a second budget of the year – because I don’t want to wait to turn the promises [...]
Budget 2015: Here’s Britain’s wish list for George Osborne – more spending on NHS, education, tax cuts and transport, slash pensions and benefits for older people May 15, 2015 [infographic id="117"] The British public want the government to spend more on the NHS, education and tax cuts, and slash the cash set aside for welfare and older people's benefits such as pensions, bus passes and the winter fuel allowance by £75bn. George Osborne is expected to announce his second Budget of the year shortly [...]
Senior Tory Eric Pickles hints at new Budget in coming weeks May 11, 2015 A Conservative member of the last coalition Cabinet said yesterday that chancellor George Osborne could unveil a new Budget “relatively soon”. Eric Pickles, who served as secretary of state for communities and local government, said that the move would be needed to outline Tory attempts to reduce the state’s huge annual deficit. Osborne revealed his [...]
Finance sector upbeat as firms see profit jump March 29, 2015 Financial services firms are full of optimism following three months of surging business volumes and higher profits, a new set of survey data shows today. However, the survey was undertaken prior to the introduction of a bank levy that was announced in the recent Budget. The survey was also blighted by a decline in employment [...]
French minister Ségolène Royal rebukes George Osborne’s “spiteful” mockery of Hollande’s economy March 24, 2015 During last week's Budget, George Osborne's jokes at France's expense played well in the chamber of the House of Commons – at least among Tory MPs. The chancellor mocked the opposition for wanting to emulate the French economic model in operation under Francois Hollande. France is beset with high unemployment and low growth and has struggled [...]