The Committee on Climate Change has today warned the UK government against reducing the £550 million year green technology budget or else risk missing out on the opportunity to create significant job numbers in the UK. This is a very difficult situation for the UK government, which is looking to introduce massive budget cuts, and it is highly unlikely that the green technology budget will escape a reduction, at least in the short term. Would this be the correct move by the UK government?
The UK government has this week announced major plans to overhaul the UK taxation system to "encourage investment" in the UK. In a move which will be welcomed by the UK public and businesses, the Treasury announced the setting up of an Office for Tax Simplification in the short term. So what can we expect from this new office?
It has been revealed that JP Morgan is looking to base its new head of International business away from the London arena in protest at the ever-increasing financial burden which the UK government is placing in the UK financial sector. We have seen introduction of specific financial taxes, pressure to increase liquidity and indeed the European Union is also attempting to hijack the UK's international investment market standing. So is this a short-term protest or a change for the longer term?
News that the Irish credit rating has been reduced by Moody's was not necessarily a surprise to investors but it does place the UK economy on a similar path. Despite the fact that the Irish authorities introduced various austerity measures some time ago the financial structure of the Irish setup has been weakened, hence the reduction in the credit rating. So is the UK really on a similar path?
It has been revealed that Moody's, the credit rating agency, has today downgraded the Irish government's debt rating. The rating has been reduced by one notch to Aa2 as a consequence of the weakened financial strength of the economy and the budget deficit. So what does this mean for the Irish economy?
As the UK government looks to introduce income generating changes to the UK taxation system many believe they may have overstepped the mark regarding capital gains tax. There is growing concern that the number of landlords in the UK could reduce after the UK government announced a significant increase in taxation for those investing in this particular arena. So could this actually reduce the number of landlords in the UK?
The very fact that students in Scotland do not pay any fees towards their further education has been a bone of contention with English counterparts for many years. However, despite the fact that Vince Cable this week suggested the possible introduction of a graduate tax it would appear that the Scottish authorities are looking at a "uniquely Scottish solution". So what could this be?
The UK government is looking to change the regulations regarding pension assets which have until now been subject to total tax charges of up to 82% upon the death of the underlying individual. The new proposals will see a 55% tax charge on any remaining pension fund assets upon the death of an individual with the balance able to be transferred to any other individual and not fall within IHT regulations.
Over the last few days the government has issued a number of statements regarding graduates and the cost of further education in the UK which, to many people, seem very unfair. It looks as though the UK government, unofficially at the moment, is favouring the introduction of a graduate tax which would see graduates paying increased taxes in the future in order to cover the cost of their further education in earlier years. But is this fair?
Despite severe criticism in the press regarding the reported independence of the Office for Budget Responsibility (OBR) George Osborne has taken an unprecedented decision regarding the appointment of the future head of the OBR. He has passed over a veto to the Treasury Select Committee, the only committee in Parliament able to veto a ministerial appointment, as he attempts to maintain the independence of the OBR. So will this work?
