Budget 2017: The full text of chancellor Philip Hammond’s speech March 8, 2017 Philip Hammond has delivered his first – and last – Spring Budget. Headline announcements included more cash for social care and punishing new rules for the self-employed – plus some vague comments on business rates. Read more: City A.M.'s TL;DR version of the Spring 2017 Budget Here's what he said: Mr Deputy Speaker, I report [...]
Spring Budget 2017 at-a-glance guide: All of chancellor Philip Hammond’s big announcements you need to know March 8, 2017 Chancellor Philip Hammond has delivered his first (and last, thanks to a shift around in dates) spring Budget speech. But, as not everybody has the time to go back and listen to his words of wisdom in full, here's an at-a-glance breakdown of the biggest announcements you need to know: Economics, public spending and politics [...]
Tax free dividend allowance reduced from £5,000 to £2,000 two years after George Osborne scrapped the dividend tax credit March 8, 2017 Chancellor Philip Hammond has slashed the tax free dividend allowance from £5,000 to £2,000. The Treasury said the allowance was being shrunk so as to "reduce the tax differential between the self-employed and employed, and those working through a company, to raise revenue to invest in public services". It will "ensure that support for investors is [...]
How safe are dividends? March 8, 2017 The income paid by stock market companies to investors could be about to come under pressure. The twice yearly payments made to investors can be a vital income supplement for those in retirement. Others reinvest the dividends to boost long-term returns. But research compiled by Schroders shows European and US companies are diverting a high [...]
LIVE: Budget 2017 – reaction to chancellor Philip Hammond’s speech March 8, 2017 Live coverage of Philip Hammond's first (and last) Spring Budget, with measures expected on Stamp Duty, T-levels, business rates, national insurance and fuel duty.
Legal & General share price inches up as profits and earnings climb March 8, 2017 Legal & General has reported a hike in profit and earnings during 2016, The figures Profit before tax was up 17 per cent to £1.6bn, from £1.4bn in 2015. Earnings per share rose 19 per cent to 22.2p from 18.58p. The group's full year dividend came in at 14.35p per share, an increase of seven [...]
Admiral boss doesn’t pull any punches after revealing discount rate cut will cost £150m March 8, 2017 Insurance firm Admiral lamented the government's decision to slash a key reference rate for calculating personal injury claims, which it said would ultimately cost the firm £150m. Annual profits for 2016 reduced by £106m, with the balance to be taken in following years. This prompted boss David Stevens, who is in his first full year at the [...]
Work and Pensions Committee to pick over Vauxhall pension scheme and its £840m deficit, as well as retirement funds at BHS and Bernard Matthews March 7, 2017 A group of MPs revealed today they are having a closer look at Vauxhall's pension pot, the day after it was announced the European unit of the motoring brand's owner was being purchased by French car firm PSA. The Work and Pensions Committee also said it is scrutinising the status of Bernard Matthews' retirement funds and the recent £363m settlement [...]
Budget 2017 UK predictions: What you can expect from the chancellor’s Spring Budget March 7, 2017 It's that time of year again: the chancellor is getting set to dust off his little red box and deliver the Spring Budget. It's the last one we'll see at this time of year, as Philip Hammond decided to move the major announcements to an Autumn Statement schedule. It's likely to be a more staid [...]
Direct Line unveils “successful year” despite taking a £217m hit from discount rate cut March 7, 2017 Direct Line's profits took a £217m hit as a result of the government's decision to slash the discount rate last week. Reporting its annual returns – which boss Paul Geddes referred to as a "successful year" – the impact on profits was not as high as the £230m the firm said was the worst case [...]