October 4, 2011

Euro zone delay decision for next Greek financial instalment

by Kay Mitchell

European stock markets lost ground this morning after it emerged that euro zone finance ministers have postponed the approval of Greece’s next instalment of its bailout loan. A meeting was scheduled for October 13, at which time finance ministers were expected to approve the next tranche but this has now been cancelled. London’s FTSE was […]




October 3, 2011

Shares down as fears grow for Greece default

by Kay Mitchell

European stock markets have fallen sharply today over concerns that crisis-torn Greece will not meet its deficit target this year. The country showed a deficit of 8.5% of gross domestic product for this year – missing targets of 7.6%. London’s FTSE lost just over 2%, while Germany’s Dax and France’s CAC both lost around 2.5% […]




September 20, 2011

IMF issues warning for global economy

by Kay Mitchell

Washington-based International Monetary Fund (IMF) has today said the global economy has entered a “dangerous new phase” and slashed its growth forecast for the UK. In its World Economic Outlook bi-annual report, the Fund which is now headed by Christine Largarde, warned that the global economy is struggling amid the euro zone debt crisis and […]




July 12, 2010

Government spending challenge website: What would you cut?

by Darren Allan

The UK government has launched a website, and a Facebook page, dubbed the “spending challenge”. And it’s nothing like the previous Labour government’s spending challenge, which appeared to be to slosh as much money up against the wall as possible without a single thought for the future. The coalition’s spending challenge is basically the chance […]




June 23, 2010

Budget brings tax hikes but some breaks for new businesses

by Kay Mitchell

Yesterday’s budget, which was delivered by Chancellor George Osborne, bought with it many painful cuts but also some sweeteners for new businesses. Firstly, VAT will be increased from 17.5% to 20% from 4 January, 2011 – this is expected to raise £13 billion a year, according to 39-year-old Osborne. However, “essentials” such as food, newspapers […]




April 5, 2010

Labour defend National Insurance rise

by Kay Mitchell

Chancellor Alistair Darling has been forced to defend Labour’s planned rise in National Insurance (NI) contributions after the Conservative Party said the hike would lead to job losses. Last month’s Budget confirmed that the Labour Government will raise National Insurance contributions by a further 0.5% from next year, on top of the 0.5% rise announced […]




April 1, 2010

Business leaders support Tory plan to reverse NI increase

by Kay Mitchell

Earlier this week, the UK’s Conservative Party pledged to reverse the Labour Government’s plans to increase national insurance contributions by 1%. The increase will apply to everyone earning over £20,000 but the Tories have said they plan to scrap the increase altogether for everyone earning under £35,000. However, weekly thresholds will be increased to offset […]




March 29, 2010

Tories promise to reverse NI increase

by Kay Mitchell

As part of its election campaign, the UK’s Conservative Party has today pledged to reverse the Labour Government’s plans to increase national insurance contributions by 1%, as part of plans to cut the UK’s deficit. Last week’s Budget confirmed that the Labour Government will raise the levy by a further 0.5% from next year, on […]