More leaks from the Treasury as budget day looms
As we approach budget day it has been revealed, via well-planned leaks from the Treasury, that Alistair Darling has put aside an extra £1 billion to support the construction industry in the UK. This is a sector which has literally died a death over the last 18 months with tens of thousands of jobs lost and companies going bust on a daily basis. So what can we expect from Alistair Darling's support plan?
It has been revealed that the government is set to announce a restart development fund which will see the authorities taking stakes in various construction projects around the UK which had stalled due to the recession. Significant money will also be put aside for local authorities to increase "social housing" with an extra fund also set to be announced to assist those who are struggling to pay their mortgages.
Those who have followed the various announcements from the Treasury over last few months will be well aware that a mortgage protection scheme was announced some time ago, so whether we are hearing a revamp of the announcement remains to be seen. Figures such as £1 billion grab the headlines but so far the government has been very shy in coming forward with the funds required. Will this time be different?
Share this..
Related stories
How long before David Cameron reveals his own tax policies for the future?
As the political fallout from Alistair Darling's latest budget continues, in the background there is a growing call for David Cameron to reveal his own tax policies for the future in greater detail. While, quite rightly, David Cameron has so far refused to reveal details of his financial policies, should the Tory party gain power next year, now may be the time to at least start feeding ideas and c...
Read MoreUK government may start selling RBS take in 2011
Stephen Hester, the chief executive of Royal Bank of Scotland, has given an interview this weekend in which he stated his belief that the UK government will begin to sell down its 83% stake in Royal Bank of Scotland during 2011. This is the first time there has been any "official" comment regarding the stake although it is known that the UK government is looking to sell the stake at the first oppo...
Read MoreWill the UK car industry survive the end of the scrappage scheme?
Over the last few months there has been a significant increase in the number of new cars sold in the UK as a direct consequence of the UK government's car scrappage scheme. The ability to scrap cars aged 10 years and over and receive up to £2000 for a new car has caught the attention of many motorists in the UK and led to a large spike in the sale of new cars. However, is this recovery to be shor...
Read MoreAlistair Darling promises yet more salary curbs for the City
In what was possibly one of the more predictable responses to criticism of the government's handling of salaries and bonuses in the city, Alistair Darling has promised yet more action despite the fact the government's response to the problem was only issued a few days ago. Well aware that the public has been highly critical of the various U-turns and watered-down regulations released over the last...
Read MoreIs the era of low cost credit over?
With UK base rates currently stuck at 0.5% the cost of debt in the UK has never been lower. However, what has changed is the criteria needed to qualify for the relatively low cost credit offers available which has seen many people locked into their long-term higher rate arrangements. But will we see low-cost credit return in the future?
As we have mentioned on numerous occasions, th...