Tag: George OsborneGeorge Osborne
Tax havens such as Bermuda and the Cayman Islands will work more closely with Britain and other European countries to fight tax evasion, British finance minister George Osborne said.
Britain has avoided falling into its third recession since the 2008 global financial crisis, after the economy grew by a better-than-expected 0.3% in the first quarter of 2013 compared with the final three months of last year, official data showed on Thursday.
The UK government has launched a legal challenge against plans for a European financial transactions tax (FTT), according to the BBC. The FTT will be adopted by 11 EU states, but not by the UK and Ministers fear it could be imposed on UK firms trading with businesses based in one of the 11 states.
Britain's credit standing took a further blow when Fitch Ratings became the second major international agency to strip the country of its top-notch credit rating. The move is an embarrassment for the Conservative-led government which promised to protect the country's rating when it took power in 2010, and will heighten the debate about whether austerity is still the right approach.
UK Defense budget cuts are rapidly becoming a controversial issue even among members of the current ruling coalition. An article from The Telegraph by Deputy Political Editor James Kirkup points out to reactions from the Commons Defense Committee to further pruning defense which would force Britain to break its promises to the NATO alliance and put the Special Relationship with the US at risk.
Moody's Investors Service on Friday cut the United Kingdom's credit rating to Aa1 from AAA for the first time since 1978, citing weakness in the nation's medium-term growth outlook that it now expects to extend for a number of years.
British Chancellor George Osborne has announced the Banking Reform Bill that will not only see savers’ deposits safeguarded but also enforce rules to make it easier for consumers to switch bank accounts.
Thousands of British protesters marched through central London on Saturday against public spending cuts and tax rises enacted by a government fighting accusations it is run by an upper-class elite that ignores the plight of recession-hit voters.
Britain must cut its budget deficit and fix its economy or face long-term decline, Conservative Prime Minister David Cameron will say on Wednesday, seeking to convince voters that his austerity plan is the only way forward.
France and Germany must reduce their stakes in defence firm EADS if the UK is to allow a proposed merger with BAE Systems to go ahead, Defence Secretary Philip Hammond has said.