HMRC not doing enough to tax big businesses December 18, 2013 THE PUBLIC accounts committee has accused HM Revenue and Customs of failing to pursue big businesses for tax payments, resulting in a £35bn tax gap between what is expected to be collected and what actually comes in to government coffers. Chair of the committee Margaret Hodge MP highlighted further flaws in the way this figure is [...]
EU job seekers will have to wait three months to claim benefits from 2014 December 18, 2013 Prime Minister David Cameron has announced that from next year EU job seekers will have to wait three months to claim out-of-work benefits. Everyone coming to Britain should contribute. So from 1st Jan 2014, EU job-seekers will have to wait 3 months to claim out-of-work benefits. — David Cameron (@David_Cameron) December 18, 2013 Yet [...]
Finance firms contribute £65bn to UK tax coffers December 16, 2013 THE UK’S financial services contributed £65bn in taxes during 2012-13, rising £2bn from last year to make up more than one tenth of all revenues. Taxes borne by and collected from financial institutions rose to 11.7 per cent of all Her Majesty’s Revenue and Customs (HMRC) in 2012-13, according to research by PwC and the [...]
Revenue clawed back from tax probes surges to a fresh high December 15, 2013 HER MAJESTY’S Revenue and Customs (HMRC) raked in £20.7bn from its investigative work on tax avoidance and evasion this year, the highest amount ever collected. During 2012-13, the tax authorities beat its own target for revenue acquired through investigations by £2bn, topping 2011-12’s £18.6bn by a similar amount, according to new research by UHY Hacker [...]
Here’s what Theresa May doesn’t want you to see December 15, 2013 A controversial government review into European migration has encountered something of an obstacle, in the form of home secretary Theresa May. The Balance of Competences review was due to be released yesterday, as part of a set of documents evaluating the UK’s relationship with the EU, but has been delayed by May, reports the Times. [...]
Here’s what Theresa May doesn’t want you to see December 10, 2013 A controversial government review into European migration has encountered something of an obstacle, in the form of home secretary Theresa May. The Balance of Competences review was due to be released yesterday, as part of a set of documents evaluating the UK's relationship with the EU, but has been delayed by May, reports the [...]
We must not ignore the economic evidence on immigration’s benefits December 10, 2013 CONCERNS about immigration continue to gather strength. A recent poll by Survation for Sky News found that 67 per cent think the coalition’s attempt to reduce net migration to 100,000 per year does not go far enough. More than a quarter feel that immigration in the last decade brought no positive benefit to the UK. [...]
The real reason the chancellor should not let the OBR audit party manifestos December 9, 2013 IT HAS been a tough week for Ed Balls. Many within Labour are said to be questioning his position as shadow chancellor following his disastrous response to George Osborne’s Autumn Statement. While Balls claims he “couldn’t give a toss” about the speculation, he needs to repair his party’s economic credibility, and fast. That’s one reason [...]
UK economy improving but far from cured December 8, 2013 THERE can be no doubt that this Winter Budget – as it should really have been called – was a great win for George Osborne. For the first time since around 2007, Britain is moving in the right, rather than the wrong, direction. Growth has bounced back, the deficit is falling, employment is surging, unemployment [...]
Our at-a-glance guide to Osborne’s mini-budget December 5, 2013 Growth up, borrowing down, yet the debt is still rising. Another raid on the banks, but shops to gain from reduced business rates THE UK ECONOMIC OUTLOOK● The Office for Budget Responsibility (OBR) has revised up its forecast for economic growth and revised down its prediction for inflation. It expects unemployment to drop quickly next [...]