Blow for chancellor George Osborne as government borrowing overshoots in February March 22, 2016 The government borrowed £7.1bn in February, down £0.5bn compared with the same month last year. It takes total borrowing for financial year to date (April 2015 to February 2016) to £70.7bn, according to the figures released by the Office for National Statistics this morning. The Office for Budget Responsibility, the government's fiscal watchdog, last week [...]
Osborne isn’t pillaging the poor to help the rich – but IDS is right to attack protection of pensioner benefits March 22, 2016 It's all about fairness, that slippery, subjective term which dominates so much of our political discourse. Following his resignation from the Cabinet on Friday, Iain Duncan Smith spent much of the weekend claiming it was unfair that the government had intended to cut disability benefits in a Budget in which taxes on higher-earning households were being [...]
George Osborne’s tinkering has made the UK tax system more complicated than ever March 18, 2016 After eight Budgets and six Autumn Statements, we have a pretty good idea of what kind of chancellor George Osborne is. According to the Office for Budget Responsibility’s policy measures database, before Wednesday he had made 585 separate tax policy changes at these so-called “fiscal events”. There had been 165 income tax changes, 107 corporation [...]
Budget 2016: George Osborne has become antagonistic towards the housing market March 17, 2016 George Osborne has presented a thoroughly disappointing Budget for the housing market with scant reference to initiatives to assist the supply of new build properties. In previous speeches, the chancellor has waxed lyrical about purchase initiatives such as help to buy (1 and 2) and help to buy Isas etc however, in yesterday's big reveal, nothing was laid [...]
Budget 2016: Chancellor George Osborne’s plans are now hanging by a thread March 17, 2016 Budget day is full of tradition. Details will leak in the days leading up to it, the chancellor will pose with his red box, Sky News will launch a helicopter to film his short drive from the Treasury to Parliament and the devil will always be found in the detail. There’s another Budget tradition that [...]
Budget 2016: Chancellor George Osborne missed a trick and his Budget will be disappointing to the housing market March 16, 2016 George Osborne delivered a thoroughly disappointing Budget for the housing market today with scant reference to initiatives to assist the supply of new build properties. In previous speeches too, the chancellor has waxed lyrical about purchase initiatives such as help to buy (1 and 2) and help to buy ISAs etc however, today, nothing was laid [...]
Budget 2016: A tax on house purchase is a tax on house building too – which will not help the UK’s housing crisis March 16, 2016 A tax on house purchase is a tax on house building too and could perversely worsen the housing crisis in the long term. Raising taxes is a tried and tested way to discourage activity that the government thinks is bad for us and right now it seems the target is buy to let. Unfortunately the [...]
What George Osborne’s Budget means for you: Five case studies including an entrepreneur, an apprentice and a chief exec March 16, 2016 Accountants from BDO ran the numbers for City A.M. to see the effect George Osborne's 2016 Budget will have on people with a variety of different incomes, living situations and responsibilities. THE BUSINESS WOMAN Catherine Gannon, chief executive at Gannons Commercial Law Gannons Commercial Law continues to perform well as profits and earnings increase on last year. [...]
Budget 2016: FTSE 100 index rallies after chancellor George Osborne’s speech March 16, 2016 The FTSE 100 rallied after the chancellor delivered his budget. The UK's blue-chip index rose by close to 0.75 per cent after Osborne completed his speech. Housebuilders led the rally after investors were cheered government plans to encourage building of new homes on brownfield land. And oil and gas stocks also benefited after Osborne delivered tax relief to the [...]
Budget 2016: From savers to landlords and commuters, here are the winners and losers from George Osborne’s “sugar tax” Budget – and how it will affect you March 16, 2016 Today's big speech has already become known as the "sugar tax" Budget, after George Osborne announced a surprise levy on fizzy drinks. But sugar addicts weren't the only losers from today's Budget: landlords were also hit, after the chancellor decided not to apply a fall in capital gains tax to them – while children are faced [...]