Airlines warn over air levy and tax hikes June 20, 2010 AIRLINES have warned that the government’s plans to increase the departure levy could see passengers avoid the UK’s airports. It is thought that the rise in the levy, which is set for November, will cost a family of four travelling abroad up to £300 extra in taxes a year. The government is also planning to [...]
WHAT WILL THE EFFECTS BE OF LIKELY BUDGET MEASURES? June 20, 2010 SIMON HAYES | BARCLAYS CAPITAL “Higher taxes, large cuts in public services and reduced welfare payments all seem likely. We would expect it to be viewed positively by financial markets.” MICHAEL SAUNDERS | CITIGROUP “A tightening of £25bn, split between a £10bn tax hike and eventual spending cuts of £15bn. This should mean a drop [...]
Austerity hits house prices June 20, 2010 SEVERE austerity measures and an uncertain economic climate will kill off the recovery in house prices, property website Rightmove will warn today. Revealing in its monthly survey that home asking prices only rose 0.3 per cent in June on the previous month, Rightmove said that the pace is slackening and the market is beginning to [...]
CBI: Britain needs tougher strike laws and flexi working June 20, 2010 TOUGHER INDUSTRIAL relations and flexible working are among some of the measures proposed today by the CBI to maintain Britain’s job market. A report by the business advocacy group unveiled a number of measures the government should adopt, including blocking regulations that will cost jobs, taking a tougher stance on industrial action and enforcing flexible [...]
Job fears hit new high in June June 20, 2010 CONFIDENCE in job security fell at the fastest level since September 2009 in the last four weeks, with households also reporting dwindling savings and concerns over debt, according to a survey out today. More than a quarter said their finances had deteriorated in the last month, compared to seven per cent who felt their financial [...]
Hutton to lead public sector pension probe June 20, 2010 FORMER Labour cabinet minister John Hutton has been appointed by the coalition government to lead a commission into public sector pensions. Announcing the appointment, chancellor George Osborne said it was “unsustainable” to expect taxpayers to cough up for public sector pensions. Hutton, a former secretary of state for work and pensions, will be asked to [...]
Private firms lose out in race for RDA grants June 20, 2010 CLAIMS that regional development agencies (RDAs) are there to help private businesses were exposed as false yesterday, after it emerged 62 per cent of grants were funnelled back into the public sector. Research from the Taxpayers’ Alliance shows public sector organisations and projects received £1.8bn in grants between 2007-09 out of a total of £2.9bn. [...]
Redwood calls for a rethink on CGT hike June 20, 2010 JOHN Redwood, the Tory MP leading a Westminster campaign against government plans to raise capital gains tax (CGT), yesterday urged George Osborne to rethink the proposals, just hours before his first Budget as chancellor. “Let’s make a statement; let’s say Britain is open for business,” Redwood said. “We really want enterprise. If you want to [...]
Cameron tells public to back British troops June 20, 2010 THE public needs to support British troops “more loudly and more proudly”, the Prime Minister has said ahead of next week’s Armed Forces Day. David Cameron said his recent trip to Afghanistan had reminded him of the sacrifices made by the military. He said he hoped to see “an explosion of red, white and blue” [...]
HUHNE LEAVES WIFE June 20, 2010 CHRIS HUHNE, secretary of state for energy and climate change, has confirmed he is leaving his wife of 26-years after revelations about his relationship with a former assistant. He said he was now in a “serious relationship” with Carina Trimingham, head of campaigns at the Electoral Reform Society. Huhne emphasised the importance of family during [...]
