Scrap bank savings tax, says Fox

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Scrap bank savings tax, says Fox

Scrap bank savings tax, says Fox
Liam Fox yesterday called on the government to scrap income tax on bank savings, to temporarily abolish capital gains tax and institute a stamp duty discount for young property buyers.
The Daily Telegraph Business, p. 4

Falling rates edge home sales up to 30-month high – surveyors
Property transactions in the UK reached their highest level in two and a half years as house buyers took advantage of record low interest rates, according to a survey of estate agents published today.
The Guardian, p. 22
Also appeared in : The Daily Telegraph Business, p.1, The Times, p.34, Financial Times, p.4

This mountain of wealth will crush us if left untaxed
In the Commons today Labour will call for a tax on mansions valued at over £2m. Labour is a late convert to this Liberal Democrat policy. But will the Lib Dems vote for it?
The Guardian, p. 30

Lloyds to cut St James’s stake
The state-backed Lloyds Banking Group is set to cash in on the record share price of St James’s Place by selling at least a third of its majority holding in the FTSE 250 wealth manager, raising more than £500m.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 15
Also appeared in : The Daily Telegraph Business, p.1, The Guardian, p.24, The Independent, p.48, The Times, p.31, The Times, p.37, Independent i, p.43

Banks face a possible ‘£30bn black hole’
British banks may be harbouring a black hole of as much as £30bn in undeclared losses that do not show up in their accounts but hamper their efforts to lend, the shareholder group PIRC has warned.
The Daily Telegraph Business, p. 5

U.K. efforts to prevent bank crises under fire
As they faced their first significant parliamentary hurdle, measures intended to prevent a repetition of Britain’s banking crisis came under fierce criticism Monday, increasing pressure on the government to accede to a still tougher regime to police London’s large financial sector.
International Herald Tribune, p. 14
Also appeared in : International Herald Tribune, p.18, The Guardian, p.23

Lending plan ‘put on steroids’
It is expected that the Funding for Lending Scheme will be extended and “put on steroids”, in an admission from the coalition that its flagship credit creation programme is failing small businesses.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 1
Also appeared in : Financial Times, p.3

UK sets up task force to help attract more Islamic finance
Focus on the UK government setting up an “Islamic finance task force” to reinforce London’s position as the dominant western hub for this niche but fast-growing part of the financial system.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 30

Commerzbank eyes £5bn sale
It is reported that private equity groups are lining up bids for Commerzbank’s UK property business in a potential £5bn deal that would be a significant disposal for the German government-backed lender.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 15

Archbishop attacks EU’s bonus cap
The new Archbishop of Canterbury Justin Welby has criticised the European Union decision to cap bankers’ bonuses, warning that capping bonuses could simply lead to higher base salaries in the industry.
The Daily Telegraph, p. 2

Italy seeks to raise banks’ provisioning for bad loans
Italian banks are reportedly under pressure from the Bank of Italy to increase provisions by an estimated €21bn as bad loans from small and medium-sized businesses mount amid a deepening of the country’s nearly two-year old recession.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 16

The above articles appeared on 12/03/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.