Whitehall could face 100,000 more job losses as chancellor George Osborne looks to balance the books May 17, 2015 Whitehall could lose up to 100,000 jobs during the next parliament, as part of government targets to wipe £10bn from the civil service's budget by 2020. The £10bn target represents a third of the total needed to be cut from government spending, if the Conservatives are to eliminate the budget deficit by the end of [...]
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 [...]
George Osborne gives Goldman Sachs alum Jim O’Neill top Treasury job May 14, 2015 Former Goldman Sachs chief economist Jim O’Neill has been given a peerage and a top job in George Osborne’s treasury. The chancellor of the exchequer tweeted yesterday afternoon: “I am delighted to confirm Jim O’Neill as the new commercial secretary to the treasury to make devolution and the Northern Powerhouse happen.” https://twitter.com/George_Osborne/status/598855150640472064 Lord O’Neill, [...]
Devolution bill: George Osborne gives English cities the option to break away from London May 14, 2015 Chancellor George Osborne is giving English cities the chance to become more independent from London under a new devolution bill. During a speech in Manchester, his first since the Conservatives' victory at the General Election, he said things should no longer be run just from the capital, and that this “old model” had unbalanced the [...]
George Osborne is offering greater devolved powers to English cities if they agree to have their own directly elected mayor May 14, 2015 More large English cities could soon have their own directly elected mayor like Boris Johnson under new plans to be unveiled by Chancellor George Osborne later today. Osborne wants to offer English cities greater devolved powers over housing, transport, planning and policing as long as they agree to be governed by a directly elected mayor. Greater Manchester will [...]
George Osborne starts his EU reform push with ministers in Brussels May 12, 2015 Britain’s EU renegotiation process is officially underway, as chancellor of the exchequer George Osborne made his first post-General Election trip to Brussels yesterday. Speaking ahead of a meeting of EU finance ministers, Osborne said he went to Brussels “with a very clear mandate to improve Britain’s relationship with the rest of the European Union, and to [...]
RBS share price rise cuts losses as George Osborne considers bank sale May 10, 2015 George Osborne is considering selling some RBS shares this year even if the taxpayer makes a loss, as he runs out of patience with the bailed-out bank. The chancellor is understood to be weighing up the options for the future of the state-backed lender over the next two weeks. He has been buoyed by the [...]
HSBC boss Stuart Gulliver warns George Osborne or Ed Balls tax hikes could drive bank from UK May 5, 2015 HSBC’S chief executive warned yesterday that the Conservative and Labour parties both risk driving the bank out of the country with tax hikes. The giant lender is looking at moving its headquarters out of the UK after more than 20 years in London, as its global business may be harmed by regulation and taxes. George [...]
Have UK government borrowing figures just given Osborne a pre-election boost? April 23, 2015 Chancellor George Osborne just received a pre-election boost after official figures released today showed he met his target for lowering the country's budget deficit in the 2014/15 financial year. The Office for National Statistics (ONS) said public sector net borrowing, which fills the hole between spending and revenues, fell to £7.4bn in March, down 5.6 percent [...]