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 [...]
George Osborne CBI speech: Government to merge Shareholder Executive and UK Financial Investments to help return public assets to the private sector May 20, 2015 George Osborne announced this evening that the government is to merge the two bodies that manage the majority of the taxpayer’s stakes in businesses into one company. In a speech to the Confederation of British Industry, the Chancellor said the Shareholder Executive (ShEx) and UK Financial Investments (UKFI) would be made into one holding company, [...]
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 [...]