Budget 2015: Business rates could get a major overhaul in the budget as George Osborne reveals reform review plans March 15, 2015 A long-overdue review of how business rates are calculated could be in the chancellor’s package of budget promises designed to woo businesses in the run up to the General Election. George Osborne pleased British businesses by initially pledging that a review would take place in his Autumn Statement last year. Now further plans are set [...]
Tesco’s Dunnhumby: Is Sir Martin Sorrell’s WPP about to take a stake in the supermarket’s data business? March 15, 2015 Tesco could be about to sell off a majority stake in its data arm that was responsible for creating the Tesco Clubcard loyalty scheme. The world’s largest advertising firm, Sir Martin Sorrell’s WPP, has made an offer for Tesco's Dunnhumby, Bloomberg reports. Tesco brought in Goldman Sachs in January to explore options for Dunnhumby as [...]
Budget 2015: Six things we expect to see in Wednesday’s announcement from George Osborne March 15, 2015 There will be no giveaways in the 2015 Budget, George Osborne has said. The Budget will be aimed at those who have worked hard all their lives, the chancellor said. But with no giveaways on the menu, what can we expect? Osborne told the BBC there would be “no giveaways, no gimmicks”. “Everything we do [...]
General Election 2015: Farage opens the way for a deal with the Tories if Cameron agrees to an EU referendum in 2015 March 15, 2015 Ukip could offer to support a minority Conservative government on key policies like the budget – if David Cameron’s party agrees to stage a referendum on the UK’s EU membership by the end of 2015. The Telegraph is publishing extracts from Nigel Farage’s memoirs – entitled Purple Revolution – in which the Ukip leader rules [...]
Greek finance minister Yanis Varoufakis sounds alarm over quantitative easing March 14, 2015 The European Central Bank kicked off its bond-buying programme this week, as investors cheered the move, however Greece's Finance Minister Yanis Varoufakis warned over its potential outcomes. "QE is all around us and optimism is in the air," Varoufakis said in Italy. "At the risk to sound the party pooper … I find it hard to [...]
London mayoral hopeful Sadiq Khan: No Labour landslide in 2015 General Election March 13, 2015 The widely tipped London mayoral candidate and MP for Tooting has said Labour became "arrogant" in office and didn't "spot early enough the need for additional housing". Khan, a close ally of Ed Miliband has been put in charge of heading off the growing popularity of the Green Party that Labour sees as a threat [...]
Pensions shake-up: George Osborne mulls further change to annuity rules March 12, 2015 Chancellor George Osborne is considering including a further shake-up of pensions rules in his crucial pre-election Budget next week, to allow pensioners to sell their existing annuities for cash. From next month those over 55 years old will be able to cash in their pension pot instead of buying an annuity to be paid out [...]
Bank of England governor Mark Carney says global deflation forces, strong sterling could delay rate hike March 12, 2015 Bank of England governor Mark Carney has said that low inflation outside of the UK, as well as a strong sterling, could cause the central bank to push back a rate hike. "It may be appropriate to take into account persistent external deflationary forces arising from the combination of continued foreign low inflation and the [...]
LV= takes big hit from Osborne’s new annuity rules as profit drops March 11, 2015 A DOUBLE-whammy of low interest rates and chancellor George Osborne’s overhaul of Britain’s pensions industry have hit profits at mutual insurer LV=. The cricket and rugby sponsor saw pre-tax profits plummet 76 per cent to £37m last year after lower returns in its investment portfolio. Although pension sales were up to £63m from the £587m in [...]
2015 General Election TV debates: Broadcasters won’t empty chair David Cameron – they’ve good commercial reasons not to March 11, 2015 The extended row over the proposed TV election debates has reached a deadlock. David Cameron has said he will take part in just one, but the broadcasters (supported by Tory opponents) are committed to running three. What will break this impasse? In my view, commercial factors will force the UK’s broadcasters to give up their [...]