The UK's trade deficit has widened more than predicted, as growth in exports slowed. The trade in goods and services gap widened to £3.8 billion in May, the highest level seen in 22 months, according to the Office for National Statistics. The deficit on trade in goods rose to £8 billion, the highest level since January and an increase from £7.4 billion in April.
Royal Bank of Scotland plans to offload up to £3 billion of property loans, as it continues to discard non-core assets. In partnership with Lazard, the bank has been planning to offload real estate debt.
The head of the government's new fiscal watchdog has told Chancellor George Osborne that he will step down at the end of June, when his three-month contract expires. Sir Alan Budd, chairman of the Office for Budget Responsibility (OBR), was expected to stay on in his position.
PCG has welcomed the clearest statement yet from the Coalition Government that IR35 is to be abolished.
“The measures announced in the Emergency Budget will go a long way to reducing the deficit and will please the 93 per cent of FSB members who called for a clear plan on tackling the country’s debt.” said FSB National Chairman John Walker.
The CIPD Responds To The Implications Of The Budget For Jobs, Public Sector Pay, Pensions And The Default Retirement Age
The Chancellor has introduced what must surely rank as the most astonishing UK budget statement in modern times.
Chancellor George Osborne has said that he wants to make the British economy 'open for business', as he reveals the biggest package of spending cuts and tax increases in 30 years.
The average cost of a property in England and Wales increased by 0.3% during the first five weeks to June 12, after a 0.7% rise in asking prices in May - according to a survey by property website Rightmove.
The OFT has imposed requirements on a major national retail finance company and issued a warning to the credit industry that taking court action against consumers outside their home jurisdiction is unacceptable.
Proposed government spending cuts will weaken the economy, lead to job losses in the thousands, and leaving a deeper deficit - according to a new report published by the Trade Union Congress today.