DRAFT FINANCE BILL: KEY POINTS December 6, 2011 ● R&D TAX CREDIT: HM Treasury has introduced a “patent box” – a reduced corporate tax rate of 10 per cent for earnings from patented products, which is aimed at encouraging innovation in science and tech. ● NON-DOMS: Non-doms will get tax relief on cash they bring into the country to invest in UK companies, [...]
City says Osborne’s Autumn Statement won’t boost GDP December 4, 2011 THE policies unveiled in George Osborne’s Autumn Statement are unlikely to boost growth, according to the City A.M. / PoliticsHome.com Voice of the City panel. Some fifty-seven per cent of panellists said they were “sceptical” that the measures would boost growth, compared to 19 per cent who said they were “somewhat confident” and just one [...]
Time to bring our roads into the market economy: A bold vision for better transport December 1, 2011 IMAGINE a private utility that charged customers the same regardless of the service it provided. Imagine it raises £32bn in revenue per annum from those customers, but spends less than a third of it on maintaining and upgrading its assets. Everyone depends on its service, yet it is unreliable, frequently overwhelmed by demand and in [...]
Osborne’s plans for recovery November 30, 2011 THIS week we’re asking our panel members for their response to chancellor George Osborne’s Autum Statement, in which he outlined his plans to cut the government’s deficit and promote UK growth. We want to know whether you think Osborne’s plans are viable – from the £5bn planned for infrastructure investment and tax breaks for individuals [...]
City A.M.’s at-a-glance guide to the key points of Osborne’s mini-Budget November 29, 2011 UK ECONOMIC OUTLOOK • The Office for Budget Responsibility (OBR) has slashed the growth forecasts it made in March. • Its central forecast for 2011 has been revised down to 0.9 per cent from the 1.7 per cent March prediction. It expects 0.7 per cent year-on-year GDP growth in 2012, instead of 2.5 per cent. [...]
Nation’s ailing start-ups get fresh support November 29, 2011 GEORGE Osborne hopes to stimulate Britain’s flagging economic recovery with yet more measures to encourage wealthy individuals to back start-ups. He will extend the Enterprise Investment Scheme (EIS) to offer income tax relief of 50 per cent to individuals who invest up to £100,000 and to companies which provide backing of up to £150,000. The [...]
Tax breaks for artwork donors November 29, 2011 Wealthy individuals who donate gifts of valuable art to the nation will receive tax breaks, in an estimated £15m per year scheme announced yesterday. Givers of “pre-eminent objects” will be able to claim up to 25 per cent off their income or capital gains tax, up to a limit of £30m annually. The move combines [...]
WHAT DOES THE CHANCELLOR’S BUDGET MEAN FOR YOU? November 29, 2011 PWC’S BUDGET TEAM SAYS: The restricted rises in tube fares will help Catherine’s travel costs and so too will the fuel duty increases being less than expected. The bank levy increase from 1 January 2012 may hit Catherine’s clients in the financial services sector although they will be buoyed by the chancellor George Osborne’s reluctance [...]
Growth revised down – but no recession says Osborne November 29, 2011 Chancellor George Osborne said that the Office for Budget Responsibility (OBR) has revised its growth for 2011 down to 0.9 per cent. The OBR predicts 0.7 per cent growth next year but no recession. In 2013 growth is forecast at 2.1 per cent followed by 2.7 per cent in 2014. The figure is estimated at [...]
Osborne: safe haven status saves £21.5bn November 28, 2011 GEORGE Osborne, the chancellor, will today claim to have saved the taxpayer some £21.5bn in debt interest payments, arguing his deficit reduction plan has kept yields on government bonds at record lows. Osborne is expected to announce the so-called “safe haven dividend” when he delivers his Autumn Statement to the House of Commons this afternoon. It is [...]