Jobs for the boys, or the boys for the job?
Gordon Brown has announced something of a surprise cabinet reshuffle today which has seen a number of new posts created and the return of some old faces. There is a feeling that the PM is looking to create something of a war cabinet to ensure Britain gets through the current crisis in one piece. But is it a case of jobs for the boys or the boys for the job?
While the likes of Peter Mandelson and Margaret Beckett return to the front line it is the introduction of Ed Miliband, the brother of David Miliband, which has caught the eye of many in political circles. Ed Miliband is now in charge of the Department of Energy and Climate Change which will oversee the future of the UK energy market, price increases and how the UK consumer can be insulated from the massive price increases we have seen of late.
Even though the new department seems like a good idea on paper, in reality this area of business has been covered by a number of other departments over the years with limited success. Are we seeing yet another waste of money on a new empire within an empire or will the UK consumer actually see a return on the investment of tax payer's money?
Share this..
Related stories
UK government budget under extreme pressure
The revelation that the UK government was forced to borrow £8 billion last month is fuel to the fire for those who believe the UK economy is still some way from recovery. This is the first time that the UK government has borrowed any money in July since 1996, as the month of July is historically one of the stronger times of the year regarding tax receipts. So what is going on?
When...
When will UK taxes start to fall?
As we see an increase in both direct and indirect taxes across the UK a number of consumers are starting to ask when we could see UK tax rates fall back. The problem is that with the UK budget deficit set to hit nearly £700 billion over the next four years there is a growing black hole for taxpayers to fill in due course. Recent forecast suggests upwards of £2000 per taxpayer in UK would be requ...
Read MoreVirgin Atlantic announces job losses
Despite appearing to mock the ongoing demise of British Airways, and the significant financial challenges ahead, Virgin Atlantic has today announced a total of 1200 job cuts in the short to medium term because of the UK recession. However, the fact that the job cuts have come at a time when the top three directors saw their incomes increase from £1.4 million year to £2 million year has caught th...
Read MoreFSA set to increase fines by up to 300%
In a sign of the times, the Financial Services Authority (FSA) has today issued proposals with regards to a significant increase in fines and penalties for those found guilty of market abuse in the future. If the proposals become law we will see fines increased by up to 300% and individuals in line for a minimum £100,000 fine if found guilty in cases of market abuse.
The broad fram...
Barclays Bank to close 11 cash ISAs
07/08/2014 Barclays Bank is set to close 11 of their cash ISAs (Individual Savings Accounts), meaning 2.3 million customers will be moved onto a simplified product range. The simplification of their ISA range means that 1.6 million savers will be put on a worse interest rate than before, although 740,000 will be put on the same or a better rate. Lee Chiswell, head of savings at Barclays...
Read More