THE TIPSTER June 23, 2010 TARGET A UK STOCKS RALLY ON THE FTSE 250 YESTERDAY’S sell-off could be another opportunity for investors to add to long positions of more UK-centric stocks. Following a Budget that was beneficial for UK companies, expect to see further gains, particularly given the announcement of a gradual reduction in corporation tax to 24 per cent [...]
THE BIG SQUEEZE June 22, 2010 Chancellor says steep hike in VAT to 20pc is unavoidable Banks relieved as £2bn levy is more lenient than expected Public sector braced for massive job losses as spending slashed Higher rate of CGT increased to 28pc – lower than feared Income tax break worth £200 for low and middle earners Headline rate of corporation [...]
At a glance: All the crucial points from Osborne’s emergency Budget June 22, 2010 THE ECONOMY/PUBLIC FINANCES • The Office for Budget Responsibility (OBR) published fresh forecasts in light of the measures announced yesterday by chancellor George Osborne. • GDP growth will be 1.2 per cent in 2010, accelerating to 2.3 per cent in 2011, 2.8 per cent in 2012 and 2.9 per cent in 2013. The pace of [...]
Great progress on the deficit – but far too many unnecessary tax hikes June 22, 2010 WE?were told to expect a tough Budget, with lots of pain, and that was exactly what we got. Many of the policies announced were necessary; others, however, are clearly misguided. On balance, however, this Budget will leave Britain in a stronger position –?not something that could usually be said of the previous government’s efforts. George [...]
Labour goads Lib Dem MPs over VAT hike June 22, 2010 HARRIET Harman launched a scathing attack on the Liberal Democrats yesterday, claiming they had “sacrificed everything they ever stood for to ride in ministerial cars”. The acting Labour leader said George Osborne’s Budget would “throw people out of work” and hurt economic growth, as she sought to paint the Lib Dems as spineless coalition partners [...]
Coalition avoids capital gains revolt but tensions remain June 22, 2010 A COMPROMISE over higher capital gains tax has stopped a Tory rebellion in its tracks – but there is growing tension in the Liberal Democrat party over higher VAT. The coalition government yesterday increased the top rate of capital gains tax from 18 per cent to 28 per cent, a much lower rate than the [...]
Tame increase in CGT brings cheer to City June 22, 2010 CHAMPIONS of enterprise breathed a sigh of relief yesterday as chancellor George Osborne stopped short of fully bowing to Liberal Democrat plans to raise capital gains tax (CGT) in line with income tax. Osborne used his inaugural Budget to introduce a new 28 per cent rate of CGT for higher-rate taxpayers, effective from midnight last [...]
City gives lukewarm thumbs up to Osborne’s plan June 22, 2010 CITY stalwarts displayed cautious approval in the wake of the emergency Budget yesterday, as the chancellor’s plans settled some nerves over UK spending. CBI director-general Richard Lambert said the five-year route map for corporation tax “provides much-needed consistency and certainty”, which combined with proposals on foreign profits and intellectual property could reverse the tide on [...]
WHAT DOES THE CHANCELLOR’S BUDGET MEAN FOR YOU? June 22, 2010 KATE SOLWAY, 30 FUNDS CONTROLLER AT PRIVATE EQUITY FIRM COGNETAS Kate is single and lives in rented accommodation. She also owns two investment properties – one a London flat with a mortgage which she rents out, and the other a holiday home under construction in west Africa’s Cape Verde, on which she does not have [...]
Holiday homes win tax break June 22, 2010 THE government has reinstated tax breaks for furnished holiday lettings, though the chancellor warned yesterday that it would consult on changing the allowances in 2011. The restored rules apply to around 120,000 landlords who run holiday homes. Osborne stressed the importance of tourism to the UK economy in his Budget speech. “There are many small [...]