Small firms urge Osborne to focus on them

Charterbridge

googleplus linkedin

Small firms urge Osborne to focus on them

Small firms are urging Osborne to focus on them

A further overhaul of the banking sector, new reliefs on National Insurance contributions and tax simplification should be the Chancellor’s Autumn Statement priorities, the Federation of Small Business will say today.

The Independent,  p. 50

 

Think-tank tells Chancellor to keep his hands off QE windfall

Institute for Fiscal Studies has warned the Chancellor George Osborne that he will lose credibility if he uses a £35bn windfall from quantitative easing to meet his fiscal targets. This week, the Office for National Statistics is expected to confirm its initial estimate that the economy grew by 1% in the third quarter.

The Daily Telegraph Business,  p. 1

 

David Cameron’s economic gibberish

Economist David Blanchflower blasts David Cameron’s ‘trite and empty-headed’ speech to the CBI’s annual conference, saying it was an insult to the intelligence of his audience.

The Independent,  p. 49

 

EUROPEAN BANKS REQUEST DELAY ON TIGHTENING CAPITAL RULES

European banks have asked the European Commission to postpone the introduction of tougher global bank capital rules by a year, to 2014, after U.S. regulators delayed the implementation there.

International Herald Tribune,  p. 21

 

Spain’s banks get £28bn, but jobs must go

Spain’s bank rescue package of £28bn from the ECB is being given in return for mass job cuts at four nationalised banks.

The Daily Telegraph Business,  p. 3

 

SWISS BANK PICTET IS NEW TARGET OF U.S. INQUIRY ON TAX SHELTERS

The Swiss private bank Pictet said Sunday that the U.S. Justice Department was investigating its wealth management business, part of an ongoing U.S. inquiry into Americans’ use of foreign banks to protect wealth from taxes.

International Herald Tribune,  p. 21

 

Crisis politicised central banks, claims report

The global financial and economic crisis has weakened central bank independence, a report co­-authored by Ernst & Young suggests.

This abstract from the Financial Times was produced by Kantar Media

Financial Times,  p. 7

 

Scandals spark new push on bank risk

Several high-profile scandals for banks have sparked a regulatory drive to force lenders to spend more time to guard against such operational risks.

This abstract from the Financial Times was produced by Kantar Media

Financial Times,  p. 1

 

Lobby group warns capital rules limit company loans

The tough approach to making banks hold more capital could be restricting lending to small and medium-sized businesses, said TheCityUK, a body that promotes the financial services industry.

This abstract from the Financial Times was produced by Kantar Media

Financial Times,  p. 4

 

UK downgrade looms ‘but it could be a help’

HSBC has said that George Osborne’s attempts to cling onto the nation’s triple-A credit rating look doomed but the loss would be “symbolic, not catastrophic”. Any short-term turbulence in debt markets after a rating downgrade might even present investors with a buying opportunity for UK bonds, according to economists and market analysts at the bank.

The Independent,  p. 49

 

Pensions: The invisible foe which is killing UK Plc

Britain’s under-funded pension schemes could cripple several of Britain’s biggest companies and wreck prospects for economic recovery, a report today warns. An analysis by accountancy firm PricewaterhouseCoopers reveals that companies’ ability to support their huge pension liabilities remains mired at levels far below where they were before the recession.

The Independent,  p. 47

 

London council to invest pensions in residential property

Islington council is using its employees’ pension savings to support the supply of new homes, in a decision that is believed to be a first for the UK.

This abstract from the Financial Times was produced by Kantar Media

Financial Times,  p. 4

 

The above articles appeared on 26\11\12 reproduced with the kind permission of Kantar Media UK . All rights reserved.

 

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