Coalition hopes to fire up its nuclear power plan October 13, 2013 THE COALITION hopes to get its nuclear power ambitions back on track this week by signing deals allowing work to go ahead at the new Hinkley Point reactor. Energy secretary Ed Davey said yesterday the government is “extremely close for a deal with EDF”, after months of wrangling with the French firm over the subsidies [...]
Sin taxes and VAT hit low income families hardest October 13, 2013 THE POOREST fifth of British households spend nearly one third of their disposable income on the Treasury’s indirect taxes, twice as much as the richest fifth, according to research published today. The new report, from the Institute of Economic Affairs (IEA), says that taxes on cigarettes, alcohol, fuel and other consumer goods impact the worst-off [...]
Miliband’s policies have already damaged Britain’s economy October 13, 2013 EVERY so often, financial markets spectacularly misjudge an issue. One such blunder took place immediately after Ed Miliband announced his policy to freeze gas and electricity prices for the first 18 months of a Labour government. Instead of heading for the exits, investors sat on their hands. Shares barely fell that first afternoon, despite extensive [...]
Civil servants discussed cap on Isa savings October 13, 2013 CIVIL servants have explored the possibility of imposing a cap on the amount of money that can be held in an Isa, the Treasury confirmed yesterday. Officials held talks with leading financial services companies in recent months to discuss whether wealthy individuals should continue to benefit from holding substantial savings that will never be subject [...]
Royal Mail gets ready for strike October 13, 2013 ROYAL Mail shareholders will find out on Wednesday whether workers will vote for strike action at the newly-privatised postal service. The Communication and Workers Union yesterday insisted that it is confident of winning the ballot, which could see thousands of staff walk out later this month. Royal Mail insists that its offer of an 8.6 [...]
What the other papers say this morning – 14 October 2013 October 13, 2013 FINANCIAL TIMES Tory plan to raise allowance to £12,500 Senior Conservative politicians are drawing up plans to raise the personal tax allowance to £12,500 as a key election pledge in 2015. Top party officials believe the move will enable the Tories to claim they are tackling the cost of living crisis by taking low earners [...]
Firms in London lead fast pace of British growth October 13, 2013 FIGURES out this morning point to strong growth in every part of the England and Wales, with firms in the capital expanding at their fastest pace in nearly four years. Lloyds’ regional purchasing managers’ index (PMI) figures show that companies in all of the country’s regions grew in September, at similarly strong levels to those [...]
US stock futures open lower as talks in Washington drag on October 13, 2013 US stock index futures slumped last night after weekend negotiations to avert a US debt default ended with no agreement. US stocks had generated two days of strong gains in advance of the weekend on hopes a deal to raise the $16.7 trillion federal borrowing limit was near. But although Senate Majority Harry Reid said [...]
Consumers forecast to push economy back to trend growth October 13, 2013 THE BRITISH economy will start to grow at around its long-run average level again in 2014, ending years of stagnation, according to one group’s new forecast. EY’s Item Club has hiked its predictions for economic growth today. The group now expect an expansion of 1.4 per cent this year, and 2.4 per cent next year. [...]
US joins UK in probing foreign exchange trades October 13, 2013 THE US is set to join Britain’s regulators in investigating possible market manipulation in foreign exchange, it emerged yesterday. The inquiry is the latest in a series of markets to be investigated, in a round of probes that kicked off with the Libor investigations. Those probes, which are still ongoing, have found three banks so [...]
