July Budget 2015: BBC must “make a contribution” to welfare cuts, says George Osborne on Andrew Marr Show July 5, 2015 The BBC “can make a contribution” to the costs of free television licences for the over-75s, George Osborne has said, responding to reports that the broadcaster would be required to stump up millions of pounds to keep the pensioner benefit going. The fee is currently paid by the Department of Work and Pensions (DWP) but under [...]
July Budget 2015: Make investments easier through tax reforms to create “equity economy”, business leaders urge George Osborne July 5, 2015 George Osborne must make radical changes to the tax system to unlock the investment potential of millions of Brits and inject growth into the economy. The chancellor's Budget, due on Wednesday, should include ambitious reform of the tax system to encourage people to buy a stake in businesses and create an "equity economy", the Institute of [...]
July Budget 2015: George Osborne to cut housing welfare for higher earners July 5, 2015 George Osborne plans to cut housing welfare for those earning higher wages in a move that is expected to raise £250m a year for the Treasury. Those earning more than £30,000, or £40,000 in London, and living in Local Authority or Housing Association properties will have to pay the going market rent, the chancellor will [...]
July Budget 2015: Chancellor George Osborne plans to crack down on non-doms July 3, 2015 George Osborne wants to clamp down on non-doms in his July Budget, a move which could raise £5bn by cutting tax evasion and aggressive tax avoidance. Read more: Non-doms pay £6bn in income tax and Labour's ban could damage the UK's ability to attract entrepreneurs In a political statement suggesting the rich will shoulder some of [...]
George Osborne’s challenge: Will he make his mark as a tax reformer? July 2, 2015 Next week’s Budget is a big opportunity for George Osborne – now he’s able to shape public spending and tax policy free of the constraints of coalition politics. One of his Budget themes should be tax reform. In the 70 years since the end of the Second World War, there have been 22 chancellors of [...]
George Osborne under pressure to tweak bank levy in July Budget July 1, 2015 Self-fulfilling prophecy, wishful thinking, fantasy economics: call it what you will, but the prospect of George Osborne fulfilling the desires of Britain’s banks in next week’s Budget is, to say the least, remote. Misplaced expectations that the chancellor would announce a review – or even the abolition – of the bank levy in his [...]
George Osborne’s marginal revolution: Why Britain’s top rate of tax is unsustainable July 1, 2015 The so-called marginal revolution in economics occurred in the nineteenth century. George Osborne’s marginal revolution in taxation needs to start next Wednesday, with decisive steps towards a more sensible tax system. In many ways, next week’s Budget will reveal the real Osborne. Freed from the shackles of coalition politics, will we see a markedly free [...]
Airports Commission report: We’ll decide on Heathrow third runway by the end of the year, says David Cameron July 1, 2015 The government will decide whether to accept a recommendation by the Airports Commission, led by Sir Howard Davies, to increase capacity at Heathrow airport by building a third runway "by the end of the year", the Prime Minister said today. Read more: Here's what the third runway will actually look like Although David Cameron ducked [...]
Why it’s public sector productivity George Osborne should worry about June 30, 2015 Improving the UK’s lagging productivity record is a hot topic among economists and politicians at the moment. Next week, the chancellor is likely to produce a productivity plan alongside his Summer Budget, which is set to find additional savings and enshrine budget surpluses into law, all without raising the rates of income tax, national insurance [...]
Greek debt crisis: George Osborne vows to help British pensioners, businesses and holiday makers June 29, 2015 Chancellor George Osborne has said that the government will protect British pensioners, businesses and holiday makers who stand to lose money in the ongoing Greek debt crisis. In a special statement to the House of Commons yesterday, Osborne said that Britain is “prepared” in a “rapidly changing situation”. “Britain’s attitude to the developing [...]