George Osborne to mandate government budget surplus in the “good times” – but when was the last budget surplus? June 10, 2015 George Osborne will say tonight that he intends to force future governments to run a budget surplus in order to "prepare for an uncertain future". In a major speech in the City of London tonight, the chancellor will announce that he will enshrine in law the need for future governments to run an overall budget [...]
HSBC lays down the gauntlet to George Osborne on bank levy as it mulls exit from UK June 9, 2015 HSBC moved a step closer to leaving the UK yesterday, piling pressure on chancellor George Osborne to take action to persuade the bank to stay. Chief executive Stuart Gulliver set out details of HSBC’s review of the location of its headquarters, looking at 11 different criteria, including taxes, the government’s attitude to finance, and [...]
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 [...]
George Osborne should prioritise taxpayer value over a rapid RBS privatisation June 9, 2015 Almost seven years on from the £46bn taxpayer bailout of RBS, it may seem perverse to ask “why the rush?” when it comes to selling our 79 per cent stake in the still-ailing bank. But this is precisely the question that must be posed if, as anticipated, George Osborne sets out at the Mansion House [...]
George Osborne to call for an end to ‘banker bashing’ June 6, 2015 George Osborne is set to call an end to so-called banker bashing in a speech at Mansion House next week. The chancellor’s speech is seen as something of an olive branch to the City, after he laid out an election pledge to raise the bank levy. Read more: Bank levy here to stay forever, says Osborne [...]
Think tank says Whitehall will face bigger cuts as George Osborne announces £3bn plan for savings and sell-offs June 4, 2015 The Institute for Fiscal Studies has warned that it will be “anything but easy” for the Conservatives to stick to their campaign promises. IFS deputy director Carl Emmerson said yesterday that with underlying pressures set to drive up spending, deeper-than-expected cuts amounting to more than 15 per cent for unprotected Whitehall departments will be needed [...]
Royal Mail share price drops as government announces plans to sell off its remaining stake June 4, 2015 Shares in the Royal Mail fell more than three per cent to 510p in early afternoon trading, after the chancellor said the government will begin selling off its remaining stake in Royal Mail this year. Read more: Royal Mail revenues rise by a measly one per cent During a debate over the contents of the [...]
How to make George Osborne happy: The IMF thinks the UK could live with higher debt “forever” June 3, 2015 Could this be the economic argument George Osborne has been waiting for? Our obsession with clearing the UK's debt could be more trouble than it's worth, according to a new paper published by the IMF. Although high levels of debt are generally viewed as problematic, advanced economies such as the UK's could “simply live [...]
Lloyds share sale sparks Treasury rift as George Osborne ignores warning on value for money June 1, 2015 The Treasury is in disagreement with its own advisers over the sale of shares in Lloyds Bank, as George Osborne seeks to fulfil his General Election pledge to sell a large chunk directly to retail investors. The sale could prove popular, but would also mean selling the shares at a discount – reducing the profit [...]
George Osborne says Britain wants to be in Europe, not run by Europe May 20, 2015 Chancellor George Osborne told business leaders last night that they need to “confront some hard truths about Europe”. In a speech at the pro-European Confederation of British Industry’s annual dinner, Osborne said that the government wants “Britain to be in Europe, not run by Europe.” “The continent is sleepwalking towards a future where it has [...]