Cameron right to cut ministers’ pay May 13, 2010 IT was good to see David Cameron announcing a 5 per cent pay cut for all government ministers. The savings will be relatively trivial when compared with the £163bn budget deficit but that wasn’t really the point: any organisation that wishes to usher in a new culture where belt-tightening is the norm must be ruthless [...]
What Clegg and Cameron will mean for your finances May 13, 2010 WHEN David Cameron and Nick Clegg stepped into 10 Downing Street together on Wednesday evening, it heralded a new era in British politics and a strong commitment to tackle Britain’s public finances. Unfortunately for those keeping a close eye on their money, their plans to get the country’s debts in order are going to have [...]
Cameron and Clegg promise new order May 12, 2010 POLITICAL EDITOR ■ New government will hike capital gains tax, hitting private equity and buy-to-let ■ FSA given stay of execution after Tories and Lib Dems broker compromise deal ■ George Osborne will chair commission to examine break up of big banks PRIME Minister David Cameron hailed an “historic and seismic shift in politics” yesterday, [...]
Great stuff on the deficit; less good for UK businesses May 12, 2010 WE are only just into day three of the new government and already powerful themes are beginning to emerge. The policies announced yesterday can be divided into three categories: those that will address the crippling budget deficit and will therefore help stave off an immediate fiscal, sterling and gilts crisis; those that will boost competitiveness [...]
Business and King welcome spending cuts May 12, 2010 BANK OF ENGLAND governor Mervyn King yesterday hailed the new coalition government’s plans for an immediate £6bn cut in public spending to tackle Britain’s record peacetime deficit, saying it was imperative that Britain’s fiscal problems are dealt with sooner rather than later. Breaking from his traditional silence on fiscal policy, the governor said he had [...]
City balks at shock rise in Capital Gains May 12, 2010 THE City yesterday lashed out at the decision by the Conservative led coalition to increase Capital Gains Tax (CGT), warning that it would seriously inhibit investment. After the coalition government said CGT would be raised as part of a rejigging of the tax system Simon Walker, Chief executive of the British Private Equity and Venture [...]
CITY VIEWS: WILL THIS COALITION DELIVER A STABLE APPROACH TO FINANCIAL REFORM? May 12, 2010 ALEX PICKARD | PMI HEALTH GROUP “It remains to be seen what will happen as the coalition is made up of parties from opposite ends of the political spectrum. It’s now more a question of what they will compromise on. The Lib Dems want to look at capital gain tax increases, while the Tories want [...]
Meet the new PM May 11, 2010 DAVID CAMERON seized the reins of power last night, becoming the first Tory Prime Minister to cross the threshold of Number 10 in thirteen years. Flanked by wife Samantha outside Downing Street, Cameron addressed the country and announced he was inviting the Liberal Democrats into a “full and proper” coalition government. There were none of [...]
Prime Minister, your task will be truly immense May 11, 2010 WHEN Margaret Thatcher became Prime Minister in 1979, she quoted St Francis of Assisi on the steps of 10 Downing Street; after Tony Blair triumphed in 1997, he was greeted by Labour Party workers waving union jacks and a great wave of public optimism. David Cameron’s victory speech yesterday was far more somber and humble, [...]
New politics even worse than the old May 9, 2010 IF that’s the new politics, I already miss the old kind, warts and all. What we witnessed yesterday was embarrassing: groups of exhausted men meeting in secret locations in Whitehall; behind-the-scenes discussions about the future of the country, with everybody tearing up their manifesto promises; and all the while Gordon Brown, who has been humiliatingly [...]