Budget 2016: George Osborne’s speech in full March 16, 2016 George Osborne has just revealed the Budget for 2016. There was good news for businesses with corporation tax being sliced and business rates being reformed – but bad news for smokers and students who hate maths. Mr Deputy Speaker, Today I report on an economy set to grow faster than any other major advanced economy in [...]
George Osborne cuts corporation tax – but OBR downgrades UK growth forecast as he warns “storm clouds are gathering” March 16, 2016 George Osborne has warned of "storm clouds gathering" in a wide-ranging Budget speech in which he cut growth expectations, but delivered a sop to the UK's firms by cutting corporation tax again. During his Budget speech in parliament today, he reduced corporation tax to 17 per cent, the second such cut in less than a year. "Britain is [...]
This Budget is Osborne’s chance to simplify tax and defend globalisation March 16, 2016 There are two threads – one general, the other highly specific – which I should like to see weaved into the fabric of the chancellor’s Budget statement today. First, a clear defence of globalisation and, second, firm action towards the long overdue merger of income tax and National Insurance. Despite what purists might regard as [...]
George Osborne must liberate business from burdensome red tape if he wants to bolster UK growth March 16, 2016 The rumour mill is churning. Will George Osborne ease up on businesses in today’s Budget? Companies have shouldered a lot of responsibility for his plans so far. The chancellor justified giveaways in the last Autumn Statement with better-than-expected economic growth and, crucially, a series of levies on firms. A raft of new measures have been announced [...]
Budget 2016 predictions: What to watch out for in chancellor George Osborne’s red box today March 16, 2016 Chancellor George Osborne will unveil his spending plans in the annual Budget to Parliament in the House of Commons at 12.30pm today. What we already know… A fresh round of government spending cuts Osborne warned over the weekend that a slowdown in global growth would lead to further fiscal tightening, saying he would use the Budget to slash 50p [...]
Hastings Group Holdings share price finishes up after the insurance company announces first dividend since float and a profit before tax in results for year ended December 2015 March 15, 2016 Share price in Hastings Group Holdings finished up today after the insurance company announced its first dividend since it floated on the London Stock Exchange last year. In its results for the year ended December 2015, the insurer proposed a dividend of 2.2 pence per share, as well as revealing a profit before tax of [...]
Global finance M&A activity in 2016 hits seven-year high, with London Stock Exchange deal pushing UK to top of sector March 15, 2016 Global finance mergers and acquisitions (M&A) activity is at its highest year-to-date level since 2009, according to new figures. And the UK has been the leading nation for finance-targeted M&A so far in 2016, according to Dealogic. Between 1 January and 14 March this year, the volume of reported finance-targeted M&A has been $56.2bn (£39.6bn). [...]
Sainsbury’s share price falls despite posting a sales rise in the fourth quarter as deadline looms for Argos bid March 15, 2016 Sainsbury's is continuing to prove itself the strongest of the big four supermarkets, with total and like-for-like sales up in the fourth quarter as it moves to phase out multi-buy offers entirely. But the business has warned of ongoing challenges in the market as the price wars continue. The figures Total retail sales excluding fuel [...]
A third of business chiefs think they’ll be hacked with telecoms and utility companys most at risk March 15, 2016 More than a third of business chiefs in the UK believe their companies will be hacked at some point in the next 12 months and it's telecoms and utility firms that are most at risk. More than half of top executives working in the two sectors believe they will be targeted – more than those in the banking, [...]
LV announces bumper profits for year ended December 2015, with strong growth in life and pensions division but a small dip in general insurance performance thanks to the December storms March 14, 2016 Insurance, pensions and investment company LV has today revealed that its profits have more than trebled for the year ended December 2015. The company announced profits before tax of £124m for 2015, up 235 per cent from £37m in 2014. "The challenging market conditions experienced in 2014 with depressed investment returns and pressure on home insurance rates, [...]