Are Osborne’s reforms to stamp duty welcome news for the UK? December 3, 2014 Rory Meakin, research fellow at the TaxPayers’ Alliance, says Yes. Finally! Yesterday, the chancellor at last ditched the awful “slab” rate structure for stamp duty on homes. Higher rates now only apply to the amount over the tax’s thresholds, instead of the whole purchase price. Stamp duty starts at £125,000. If you bought a home [...]
Which London borough will pay most stamp duty under Osborne’s new rules? December 3, 2014 Buyers moving to Kensington and Chelsea will contribute more stamp duty than any other London borough under new plans revealed by George Osborne in his Autumn Statement today. More than 12,500 homes in the borough will be subject to a higher rate of stamp duty after the changes come into effect. New Westminster residents would [...]
What colour was George Osborne’s tie? Ladbrokes pays out on green, grey and black odds December 3, 2014 George Osborne confounded consensus in his Autumn Statement today, choosing to wear a magical colour-changing tie. The odds were naturally on Tory blue neckwear in the lead-up to the general election, but Osborne this year took inspiration from a magical Mr Benn (the cartoon character, not Tony), digging deep in the back of the wardrobe [...]
Autumn Statement 2014: What does George Osborne’s stamp duty reform actually mean? December 3, 2014 In an Autumn Statement firmly aimed at courting the popular vote, George Osborne today announced a complete overhaul of the stamp duty system – the elephant in the residential market for a decade. Estate agents said the old system wasn't progressive enough, and unfairly taxed home buyers. The cherry on Osborne's stamp duty cake was [...]
Autumn Statement 2014: George Osborne scraps stamp duty slabs December 3, 2014 George Osborne's Autumn Statement unveiled a raft of measures in an intensely political statement aimed at luring voters back from Ukip during next year's general election. His centrepiece? A complete overhaul of stamp duty which, he said, will create savings for 98 per cent of home buyers. To cheers from the Tory back benches, Osborne [...]
Osborne gets last minute economic boost: UK service sector growth surges again while Europe hits 11-month low in latest PMI December 3, 2014 The UK’s service sector surged ahead of expectations in November as growth hit an 11-month low in the Eurozone, telling two very different stories of economic activity. The latest Purchasing Managers Index (PMI) came in at 58.6 for November, ahead of the 56.5 expected and 56.2 in October, in another boost for the UK economy [...]
Autumn Statement 2014: George Osborne prepares for battle ahead of crunch announcement December 2, 2014 George Osborne met military personnel yesterday ahead of the Autumn Statement, one of the most important fiscal announcements of his term in office. The chancellor is widely expected to have a crowd-pleasing announcement up his sleeve, following leaks this week about infrastructure spending, flood defences and housebuilding. Possible measures include stamp duty reform or raising [...]
Autumn Statement 2014 quiz: By George! What’s Osborne been up to? December 2, 2014 As the chancellor takes centre stage today to tell us how he plans to move the Treasury’s kitty about in the Autumn Statement, we take a look at some of his best moments over the last few months – but what exactly is he up to? Is it A, B or C? 1) A. [...]
George Osborne announces £1bn boost for small businesses ahead of the Autumn Statement December 2, 2014 George Osborne has announced a lending package worth nearly £1bn for the UK's small and medium-sized businesses ahead of tomorrow's Autumn Statement. The Treasury will give £400m to expand Enterprise Capital Funds, which invests in fast-growing small and medium size enterprises. It will also guarantee up to £500m of new bank lending to these kind [...]
Autumn Statement 2014: Forget a new fiscal rule – George Osborne should beef up the Office for Budget Responsibility to ensure real prudence December 2, 2014 George Osborne has made his name with a commitment to fiscal prudence, backed up by tough cuts to public services. In today’s Autumn Statement, he is expected to reinforce that reputation by announcing a formal target, backed by law, to eliminate the current structural deficit by 2017-18, a year earlier than previously forecast. There are [...]