WHAT DOES THE CHANCELLOR’S BUDGET MEAN FOR YOU? March 23, 2011 CATHERINE GANNON, 48 MANAGING DIRECTOR OF CITY LAW FIRM GANNONS LAW LLP Catherine is single with two children, earns a gross income of over £100,000 a year and pays a mortgage on her family home. She has a share portfolio and also has mortgages on various investment properties. She does not drink or smoke. She [...]
HOUSING SUPPORT March 23, 2011 CHANGES TO STAMP DUTY LAND TAX ON BULK PURCHASES If the buyer chooses then the rate of stamp duty land tax (SDLT) on properties can be determined by the mean value of the homes bought, rather than the aggregate value that is currently the case. This will be subject to a minimum rate of one [...]
FTSE inches up despite Sainsbury’s glum update March 23, 2011 BRITAIN’S top shares edged up higher yesterday, on a budget day that brought a mixed outlook for UK corporates. J Sainsbury fell sharply after a downbeat trading update, while sector peers firmed after the budget, as did housebuilders which got a first-time property buyers boost, while North Sea-focused oil firms were hit by a tax [...]
Mortgage approvals from UK high street banks remain low March 23, 2011 MORTGAGE approvals for house purchases remained near their lowest level for two years, the British Bankers’ Association (BBA) reported yesterday. The 29,923 mortgage approvals in February were just a slight upgrade from the 29,159 in January and the 23 month low of 29,029 in December. Mortgage approvals were down about 11 per cent on the [...]
Osborne to hike tax allowances March 22, 2011 GEORGE Osborne will today unveil small tax cuts, help for first-time buyers and a series of symbolic measures to show he is tough on the rich. But his Budget could be overshadowed by spiralling inflation and weaker public finances, preventing him from pulling any rabbits out of his hat. The chancellor will announce that he [...]
Rising deficit hits Osborne’s budget plans March 22, 2011 GOVERNMENT borrowing reached £11.8bn in February — a record high for this time of year – according to official figures released yesterday. Net borrowing, excluding interventions in the financial sector, was considerably higher than in February 2010, when the government recorded a £9.45bn monthly deficit. The figures cast doubt over the amount of leeway chancellor [...]
CITY VIEWS: WHAT SHOULD BE IN THE BUDGET? March 22, 2011 PHILIP RADLEY | GUARANTEES AND BONDS “Well, for a start, we really need to cut government spending. Hopefully the budget will be less than disastrous, because at the moment taxes are up, petrol is increasing, and with inflation it seems that the price of everything is rising.” MATT BYNORTH | COOPER GAY “As a potential [...]
HOW TO KEEP YOUR TRADES IN HARMONY March 22, 2011 CONSULTING ANALYST, INTERTRADER THE definition of harmony is a pleasing combination of elements in a whole. My mentor Bryce Gilmore taught me harmony in the markets. There was no course book, and no papers to read. It was night after night going over the day’s charts, pointing out the harmony in the day’s price action. [...]
The beefed up new Merc SLK March 22, 2011 Despite selling well, the Mercedes-Benz SLK has been seen as a bit fluffy, a lesser animal when compared to some of its roadster rivals. This hasn’t been helped by the fact that most buyers of the car have been female, something that has switched some less- evolved men off. Now Mercedes-Benz is making a considered [...]
US markets end up as Japan fears ease March 21, 2011 BUYERS emerged in US stocks yesterday, enticed by the biggest proposed merger of the year, though crises in Japan, the Middle East and North Africa meant market volatility would continue. The bulls have held the upper hand for three days, as the S&P 500 has put together its best three-day run since early December. The [...]