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  • Autumn Statement: Welfare spending cap to start in 2015

    December 5, 2013 6:09 PM 8

    A cap on total government welfare spending will start in 2015, Chancellor George Osborne has said. The precise limit will be set in the spring of 2014, and the cap will be imposed a year later. He said the limit on total welfare spending would be set by the chancellor at the beginning of each parliament, and MPs would be asked to support it. If the limit

  • Government to introduce new tax relief for social investment

    December 5, 2013 3:49 PM 6

    By David Ainsworth, Third Sector Online, 5 December 2013 The government will introduce a new tax relief for social investment in April 2014, according to today’s Autumn Statement. It also says that the government will produce a "road map" for social investment in January. "These measures include seeking state-aid clearance for a larger tax-relief scheme

  • Autumn Statement: The Key Points At A Glance

    December 5, 2013 3:49 PM 11

    :: Aim is "To fix the roof while the sun is shining" rather than spend beyond our means. :: OBR expects national debt to be 75.5% of GDP this year, £18bn lower than forecast. :: OBR says 2013/14 borrowing forecast is revised down to £111bn - £9bn less than expected. :: OBR forecasts underlying measure of deficit revised down to 6.8% this year, no deficit

  • state pension age to rise ten years earlier than planned | Crystal Umbrella News

    December 5, 2013 1:43 PM 17

    While tens of thousands of SMEs will be facing auto-enrolment staging dates in 2014, with many Umbrella Companies amongst them, the state pension age is going to rise to 68 much earlier than originally planned. The chancellor will announce in his autumn statement that the age will rise to 68 in the mid-2030s and to 69 in the 2040s; everyone currently

  • The Key Points At A Glance

    December 5, 2013 1:36 PM 12

    The main Autumn Statement announcements as they were outlined in the Commons by the Chancellor George Osborne. :: Aim is "To fix the roof while the sun is shining" rather than spend beyond our means. :: OBR expects national debt to be 75.5% of GDP this year, £18bn lower than forecast. :: OBR says 2013/14 borrowing forecast is revised down to £111bn - £9bn less than expected

  • Germany's Merck to buy hi-tech materials firm AZ for $2.6 billion

    December 5, 2013 12:47 PM 16

    FRANKFURT/LONDON (Reuters) - Merck (MRCG.DE), the world's largest maker of liquid crystals used in TVs, tablet and smartphone screens, has agreed to buy Britain's AZ Electronic Materials (AZEM.L) for $2.6 billion to expand its range of specialist chemicals for hi-tech gadgets. Germany's family controlled Merck, which also makes cancer drugs and laboratory

  • Strong winds leave 6,500 customers without power says NIE

    December 5, 2013 11:11 AM 7

    Continue reading the main story Northern Ireland Electricity (NIE) has said 6,500 customers are without power after strong winds caused disruption to power supplies. The Christmas market at Belfast City Hall has been closed as a safety precaution. Police said several roads have been closed due to fallen trees. Some ferry services have also been cancelled

  • UK car sales rise 7 percent on year in November - SMMT

    December 5, 2013 9:48 AM 23

    LONDON (Reuters) - British car sales in November were 7 percent higher than a year earlier, and total sales for the year to date were up 9.9 percent compared to the same point in 2012, the Society of Motor Manufacturers and Traders said on Thursday. Some 159,581 new cars were registered in November, and sales for the year to date totalled 2.11 million

  • Edinburgh trams: first Princes Street night test complete

    December 5, 2013 9:19 AM 12

    One of Edinburgh's new trams has completed the first test run along the city's most famous shopping street. Tram 264 made the journey on Princes Street late on Wednesday night, flanked by teams of engineers. It travelled from the tram depot at Gogar on Edinburgh's western outskirts to York Place in the city's east end. The tram crew and engineers completed

  • Bank of England holds UK interest rates at record low

    December 5, 2013 7:54 AM 20

    The Bank of England has kept interest rates at a record low of 0.5%, despite signs that the UK economy is improving. The decision was widely expected given governor Mark Carney's pronouncements that the Bank would not even consider raising rates until unemployment falls below 7%. The Bank's Monetary Policy Committee (MPC) has kept rates at 0.5% since