Britain must embrace 30pc tax revolution to boost growth May 21, 2012 IT is time for Britain to make a vital choice. Our economy is stagnant, with unemployment at horrendous levels, crippled by excessive public spending and a punitive tax system. There are two options. We can either tweak the status quo – try to keep a lid on spending, reform bits of the public sector and [...]
Mitie profit rises as order book swells May 21, 2012 British outsourcing firm Mitie posted an 8.9 per cent rise in full year profit and said it was upbeat about growth prospects in the coming year as governments and businesses seek to cut costs and secure energy supply. Mitie, which provides catering, cleaning and maintenance services for clients like Vodafone, Tesco, and the British government, [...]
Ryanair warns that profit to be dented by Eurozone May 21, 2012 Ryanair, Europe’s biggest budget airline, warned surging fuel costs and a worsening economic outlook meant profit would slip by up to 20 per cent in the coming year, the first fall in four years. The Dublin-based airline, which posted a record annual profit and has posted profit growth of at least 25 per cent every [...]
Britain and France back Eurobonds May 20, 2012 THE UK and France have joined forces to demand that Germany underwrites Greece’s crippling debts by issuing so-called eurobonds. Eurobonds would pool sovereign debt issuance among all of the euro’s 17 member states, allowing weaker countries such as Greece to lean on the triple-A ratings of Germany and others. German Chancellor Angela Merkel has long [...]
Firms urge PM to adopt pro-jobs red tape cuts May 20, 2012 Slashing red tape will boost jobs and encourage an economic recovery, business groups and backbench Conservative MPs said yesterday, welcoming the impending publication of the Beecroft report which is expected to set out the case for cutting damaging labour market regulations. The report, commissioned by Number 10 and set to be published this week, is [...]
Britain must embrace 30pc tax revolution to boost growth May 20, 2012 IT is time for Britain to make a vital choice. Our economy is stagnant, with unemployment at horrendous levels, crippled by excessive public spending and a punitive tax system. There are two options. We can either tweak the status quo – try to keep a lid on spending, reform bits of the public sector and [...]
Saudi overtakes Russia as top crude producer May 20, 2012 Saudi Arabia has edged ahead of Russia in being the world’s biggest crude oil producer for the first time since 2006, official data showed yesterday. Figures collected by the Joint Organisations Data Initiative (JODI), whose inputs include data from Eurostat, the IEA, the UN and OPEC, show the Middle Eastern state producing 9.923m barrels per [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 20, 2012 FINANCIAL TIMES Funds’ €60bn to buy European bank debt Hedge funds and private equity firms have amassed almost €60bn to buy loans from stricken European banks in coming years as many of the continent’s lenders seek to shrink their way to health, according to a PwC survey. PwC estimates European banks have almost €2.5tn of [...]
Tax reform can drive recovery, say think tanks May 20, 2012 CUTTING and simplifying taxes would significantly boost the UK economy, according to a report released this morning that urges the government to adopt a comprehensive plan for growth. Taxes should be reduced to no more than one third of national income by the end of the decade, according to the 2020 Tax Commission, a group [...]
StanChart: UK encouraging shift of money to Asia by goldplating May 20, 2012 THE HEAD of Standard Chartered’s European bank has warned that the UK is accelerating the shift of economic power from west to east by goldplating bank regulations. Richard Holmes, head of StanChart’s European business, told City A.M. that Britain’s approach could cause a “creep” of investment away from London. “What’s going on here is forcing [...]
