How an Isa could earn you a million February 26, 2013 The route to tax-free prosperity is simple AS THE end of another tax year approaches, there is still time for investors to shelter up to £11,280 from taxation. But with most experts predicting cash Isas will undershoot inflation, it is surprising that, although close to half of the UK’s adult population holds an Isa, very [...]
Britain: a case study in low-growth economic mediocrity February 22, 2013 BRITAIN is stuck in a rut. No wonder that investors and credit rating agencies are losing patience: the coalition doesn’t have the guts or decisiveness needed to jolt the UK out of its present mediocrity, while the opposition is busy dreaming up new taxes, thinks that a slightly looser fiscal policy would transform our prospects [...]
How to make the most of your Isa February 21, 2013 It is much easier to transfer your account than you may think MANY consumers are aware of the benefits that come with an individual savings account (Isa). You won’t pay capital gains tax on your Isa investments, nor will you pay income tax on your Isa savings, and you don’t have to mention Isas on [...]
Letters to the Editor February 21, 2013 Reform for growth [Re: Time to take drastic action to reboot Britain’s feeble economy, yesterday] Cutting corporation tax and capital gains tax will undoubtedly increase the incentive for risk-taking and investment, both prerequisites for growth. But other fundamental problems will remain. First, government spending is currently unaffordable. The required money cannot be raised from taxation [...]
Time to take drastic action to reboot Britain’s feeble economy February 19, 2013 So what, exactly, could the chancellor do to boost growth? He is, of course, hamstrung by two conflicting realities: the fact that the budget deficit remains huge, and may even increase this year, as well as by the realities of coalition politics. But unless he changes course, and is willing to take a major risk, [...]
The French bank chief fighting back against hostile politicians February 17, 2013 FRANCE has never been the friendliest country for bankers to work in. Its suspicion of capitalism and enduring official support for a short working week don’t make for a natural fit with the fast-paced world of high finance. Hence many of the country’s best and brightest have moved to more welcoming shores. But Société Générale’s [...]
CentreForum says equity could fill small business funding gap February 14, 2013 THE GOVERNMENT must slash financial taxes and cut red tape to allow small firms to fill their funding gaps by going public, a think tank said yesterday. Ending the tax and regulatory bias toward debt finance would be a massive step toward narrowing the £59bn funding gap faced by small and medium sized enterprises (SMEs), [...]
ING profits dip on tough year of restructuring February 13, 2013 DUTCH finance group ING yesterday announced it is cutting another 2,400 jobs as it unveiled a disappointing fourth-quarter profit figure. That brings current headcount cuts to 7,400 which the bank hopes will save €1bn (£865m) a year by 2015. The group made €1.434bn in the final three months of the year, up 21 per cent [...]
Santander sees UK growth but bad Spanish loans dent profits January 31, 2013 BANKING giant Santander claimed it has now moved beyond the Spanish housing crash, setting it up for solid growth in the coming years. Profits plunged 59 per cent to €2.205bn (£1.9bn) for 2012, in large part due to bad loan provisions of €6.14bn. But the bank’s UK arm reported gains, seeing post-tax profits rise four [...]
US growth falls off a cliff again January 30, 2013 THE US economy shrank unexpectedly in the final three months of 2012, official figures showed yesterday, taking markets and analysts by surprise. Ben Bernanke at the Federal Reserve responded by holding interest rates at record lows and continuing to print $85bn (£53.8bn) a month to buy government bonds and mortgage backed securities. Stocks dipped on [...]