David Cameron pledges tax credit reform as part of government’s drive to cut £12bn from welfare budget June 22, 2015 Tax credits are under fire as part of the government’s pledge to eliminate £12bn from the welfare budget, with David Cameron insisting Britain must not continue with the current “merry-go-round” system. The speech, in Cheshire, will attack the system introduced by Tony Blair’s Labour government, whereby low paid workers will have money taken in tax [...]
EU ministers agree to extend economic sanctions against Russia until January 2016 June 22, 2015 The European Union has decided to extend economic sanctions against Russia for another six months, imposed due to the country’s involvement in the conflict in Ukraine. Meeting in Luxembourg, EU foreign ministers are upholding economic sanctions to make Russia comply with the Minsk ceasefire accord, which was signed with Ukraine in February. #EU extended economic [...]
Boris Johnson says City will thrive even if there’s a Brexit June 22, 2015 Boris Johnson has poured cold water on fears over the potentially damaging impact of a Brexit on the City, also saying that London will continue to thrive as long as it invests in infrastructure. The incumbent London mayor shrugged off some business leaders' concerns that exiting the European Union would be harmful to Britain, saying [...]
European stocks soar as European Commission President Jean-Claude Juncker says proposals “good basis for progress” June 22, 2015 European stock markets had a strong start to the week, as renewed optimism about a deal between Greece and its lenders boosted indices. The Cac and the Dax were both up 3.1 per cent at pixel time, while the FTSE 100 was up 1.4 per cent. Stocks in Athens were up more than eight [...]
George Osborne insists £12bn in welfare cuts will go ahead June 22, 2015 Chancellor of the exchequer George Osborne has said that he will push ahead with plans to cut £12bn in welfare spending, despite previous reports that Conservative party campaign promises would be reined in under the new government. Writing with work and pensions secretary Iain Duncan Smith in The Sunday Times, Osborne said that he would [...]
Retailers send George Osborne their budget wish list June 21, 2015 British retailers are calling on the chancellor to eschew the living wage and introduce new measures to boost productivity in next month’s emergency budget. In a new submission to chancellor George Osborne, the British Retail Consortium (BRC) said that it wants the government to “work with the retail industry to ensure that employees are [...]
George Osborne and Iain Duncan Smith promise £12bn cuts to welfare budget June 21, 2015 The government has promised to slash the welfare bill by £12bn each year, the day after tens of thousands of people took to the streets of London to protest against austerity. Chancellor George Osborne and work and pensions secretary Iain Duncan Smith said the cuts would reform "the damaging culture of welfare dependency" and ensure [...]
Godfrey Bloom compares Nigel Farage to Stalin and calls him “sadly unelectable” June 19, 2015 Nigel Farage has been dubbed an "unelectable" leader who runs Ukip like a communist dictator by a former Ukip MEP. Godfrey Bloom said the Ukip leader was "ruthless", adding that "even a hint of criticism" would risk getting "your membership card chopped up". His comments were made after the party's leadership moved against deputy chair [...]
David Lammy: Sadiq Khan was wrong to rule out expansion at Heathrow – the decision must be based on what’s right for London June 19, 2015 Extending London’s airport capacity will be a key issue for the next mayor. It is not something that we can afford to keep pushing into the long grass. Already London business is missing out: last year, Germany overtook the UK for new investments – disappointing, but hardly surprising considering it has significantly more connections [...]
Neil Woodford: One year after leaving Invesco, star fund manager reviews his stock picks June 19, 2015 It’s not just Aim that is celebrating a birthday. Star fund manager Neil Woodford is celebrating one year since he left Invesco and set up Woodford Investment Management and the Woodford Equity Income fund. The fund is easily outperforming its sector, up 16.5 per cent for the year, compared with an increase of 7.8 per cent. [...]