tagged w/ George Osborne
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Bankers may have surpassed lawyers and child pornographers as the country's most reviled people. They did this through tanking the world economy and extorting money and property from customers and the government...and complaining they weren't paid enough to do it. A recent informal Vanity Fair poll indicated 56% of banking greedheads felt their bonuses were too small.Bankers may have surpassed lawyers and child pornographers as the country's most... more
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Banks are jeopardising the country’s economic recovery by restricting lending to households and businesses, a report by the Bank of England warns today.Since the credit crisis began, high street banks have lent less to customers, blaming a fall in demand for new loans, mortgages and other typesBanks are jeopardising the country’s economic recovery by restricting lending to... more
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The biggest news on the benefits change focuses on the new plans for child benefits where earners for over £44,000 won't receive benefits for their children from 2013.
George Osborne says the cuts to the child benefits will reduce the governments budget deficit. Though BBC's Nick Robinson states the cuts will affect the delegates at the Conservative conference.
The main criticism comes Prospect Union which said the cuts are not hitting the high earners, but those on "modest incomes"
"Under the proposed changes, a family where both parents are earning just under £44,000 will continue to receive child benefit while a family where only one person is working and whose income is just above £44,000 will lose the payment."-BBCThe biggest news on the benefits change focuses on the new plans for child benefits... more
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It is reported George Osborne is set to cut the benefits budget by £4bn for the spending review. In a BBC interview, the chancellor stated the cuts would be a way to go after those who see benefits as a lifestyle choice.
""People who think it is a lifestyle to sit on out-of-work benefits … that lifestyle choice is going to come to an end. The money will not be there for that lifestyle choice."-Guardian
The article states the Work and Pensions minister Iain Duncan Smith is currently in 'bitter talks' with the treasury over budget plans to fund a incentive for people stuck in a long term benefits cycle.
"During the election campaign David Cameron promised the winter fuel allowance would not be cut, but it is possible that it, and some other universal benefits, could be restricted to those on pension credit, as the Lib Dems advocated."-GuardianIt is reported George Osborne is set to cut the benefits budget by £4bn for the... more
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Bad timing for today's PMQs? (and the comments by the Chancellor that the budget hid nothing in the small print) After a leaked assessment from the Treasury states the possible numbers of jobs loses in the public and private sector due to the cuts.
"Unpublished estimates of the impact of the biggest squeeze on public spending since the second world war show that the government is expecting between 500,000 and 600,000 jobs to go in the public sector and between 600,000 and 700,000 to disappear in the private sector by 2015."-Guardian, which also points out the paper saw aslide from a budget presentation saying "100-120,000 public sector jobs and 120-140,000 private sector jobs" were to be lost every year over 5 years.Bad timing for today's PMQs? (and the comments by the Chancellor that the budget... more
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BRITAIN'S £190billion benefits bill is part of a brutal summer spending review, it was revealed last night.
Chancellor George Osborne said welfare payments WILL be included in the bid to cut the nation's £800billion debt.
Ofcourse the cost of the wars never comes up, instead of taking money from the people who need it, lets stop killing innocent people in foreign countries and save ourselves a heck of a few billion a week
Read more: http://www.thesun.co.uk/sol/homepage/news/3005750/Axe-hangs-over-benefit-billions.html#ixzz0qMDcx1pABRITAIN'S £190billion benefits bill is part of a brutal summer spending... more
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George Osborne today set out the cuts different government departments will have to make to tackle the deficit. From looking at the handy list by the BBC, it looks like the biggest department facing cuts is Business (Vince Cables department) followed by Department of Communities and Transport.
It also sounds like civil service with be hit by cuts in recruitment freezes and IT programmes. It's stated 16-19 year old school funding is safe, though Child Trust Fund payments are being 'axed'.
"IT, suppliers, property: £2bn
Consultancy and travel: £1bn
Recruitment freeze/quangos: £700m
Child Trust Funds axed: £520m
"Low value spending": £500m
Dept business: £836m
DCLG: £780m
Dept Transport: £683m
Education dept: £670m
Dept work pensions: £535m
Chancellor's Dept: £451m"-BBC
Interesting Tweets: "Well it is all pretty vague. Need the departments to now announce exactly what they are cutting"-Krishnan Guru-Murthy
"Some context for today's 6.25 billion cuts. less than 1% of total gov spending. budget deficit is £163 billion"-Martha Kearney
"Turnover in civil service last year was 31,000. So recruitment freeze could mean tens of thousands of jobs going altho there will be exc ..."-Laura KuenssbergGeorge Osborne today set out the cuts different government departments will have to... more
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It's reported by the Guardian, the Child Benefits for the middle class will face reduction in plans "to bring the £164bn deficit under control."-Guardian
As the coalition settles down, news of the future cuts appeared in today's newspapers, letting journalists go back to the normal political routine (since they've spent the last few days outside the negotiation progress)
According to the paper, all departments (excluding the ringfenced) spent the last month finding 15% cuts to reduce spending. One reported plan from the Treasury is to reduce the benefits for the middle class like child benefits.
It's suggested the cuts could strain the coalition relationship because the Liberal Democrats would be against cuts that will slice welfare for the poor.
"He urged colleagues to pursue "a distinctive path" to ensure the poor did not suffer when spending cuts are speeded up, as promised by Osborne."-The GuardianIt's reported by the Guardian, the Child Benefits for the middle class will face... more
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