George Osborne

'Star Wars' spinoff to be filmed in UK

Star WarsLos Angeles: Britain`s Chancellor of the Exchequer George Osborne has revealed that the recently announced Star Wars spinoff will also be shot in the UK.

The government minister recently visited the set of J J Abrams` "Star Wars: Episode VII" set in London, reportedly.

"On set of Episode VII tonight, can announce another #StarWars film will be made in UK. A #LongTermEconomicPlan in a galaxy far far away," Osborne tweeted.

Osborne announces scheme to boost exports

Osborne announces scheme to boost exportsGeorge Osborne, the chancellor of the UK, has announced a new scheme to boost exports form the country to other countries.

Osborne dismisses allegations of pressure in Lloyds deal

Osborne dismisses allegations of pressure in Lloyds dealUK's Chancellor George Osborne has dismissed suggestions that there was undue pressure in the Lloyds deal and said that the UK government did not put "undue pressure" on the Co-op to buy the branches.

Osborne removes compulsion to buy an annuity

George OsborneUK's chancellor George Osborne has announced his decision to remove the compulsion to buy an annuity as part of the annual budget.

The annuity sector received the news in shock as the chancellor announced that it will no longer be mandatory for the people in the UK to buy annuity. The shares of annuity provider fell following the news. Experts have said that the reforms will allow consumers will have wider choice at retirement.

Chancellor cuts beer prices, froze duty on whisky

beer pricesIn this year's annual budget, the chancellor has announced his decision to cut price of beer and froze duties on Scotch whisky and cider.

The beverage industry has welcomed the move from the government. Chancellor George Osborne said that it has cut the price of a beer pint by a penny for the second year and also froze duties on cider, a move that will boost flood-hit West Country. The duty freeze on scotch took a political turn as the Chancellor said that it a "British success story".

Osborne announces annual budget

George OsborneUK's Chancellor George Osborne has announced details relating to the government's financial plans for the year ahead and outlined the growth in the UK economy.

The Chancellor said that the areas that were affected by recent flooding will benefit from a pot of £140million for repairs and maintenance to flood defences and the government has set aside another £200million for pothole repairs. He pointed out that the money from Libor fines will be spent on military charities. He also said that the government will provide funding for rescue and lifeboat services and give £10m to the scouts, cadets and St John Ambulance.

Osborne expands Help to Buy scheme until 2020

George OsborneUK's Chancellor George Osborne has said that it is planning to expand the Government's Help to Buy scheme, which is aiming to help revive the housing market, until the year 2020.

Osborne said in his pre-Budget announcement that the government is planning to invest another £6 billion in the equity loan part of the scheme in order to help 120,000 more households to buy houses in the UK. He announced a four-year extension of the equity loans scheme in his Budget speech, boosting the housing market.

Tories urge government to do more for middle-income workers

Tories urge government to do more for middle-income workersAn increasing number of Tories are urging George Osborne to take steps to help middle-income workers in the UK, who are facing pressure on their savings.

Mr Osborne can take steps to raise funds for tax-free personal allowance indicating that low income earners can earn higher amount before paying taxes. Conservative Chancellors Lords Lawson and Lamont are asking the treasury to help middle-income workers.

Osborne asked to hike social-security tax on firms

George OsborneGeorge Osborne, the UK's Chancellor, is being urged to announce an increase in the level of social-security tax on firms in the UK as part of this year's budget in order to help increase job creation.

London-based Policy Exchange said that increasing the National Insurance Contributions in 2015 to 192 pounds per week from 157 pounds will save firms 250 pounds for every person employed. The amount is equivalent of
10,000 pounds a year. The institute is recommending an £5.4billion annual cut in National Insurance to save businesses £250 for each employee.

UK must reduce fuel duty

fuel dutyExperts have said that the government in the UK must reduce its fuel duty in order to bring to the same level as that in European nations.

George Osborne has been urged to reduce petrol and diesel duty by three pence during this month's budget. It is believed that the UK has higher taxes on fuel than most European nations. The FairFuel UK campaign, which his headed by television personality Quentin Willson, said that the UK has the highest duty on diesel in the EU and the second highest duty on petrol just behind Sweden.

Taxpayers suffered loss of £230m by selling stake in Lloyds

Lloyds Banking GroupTheNational Audit Office has contradicted claims by George Osborne that the UK Treasury made a profit by selling stake in Lloyds Banking Group.

The National Audit Office said on Wednesday that the taxpayers suffered a loss of £230m through the sale of a stake in Lloyds Banking Group. The claims are against remarks by Osborne in which he said that the Treasury made a profit of £60 million by selling the stake. George Osborne had written on the day of the stake sale in September that the government had sold 6 per cent of Lloyds shares at 75p earning a profit for the taxpayers.

Chancellor has more room for tax cuts

Chancellor has more room for tax cutsChancellor George Osborne of the UK will have more room for tax cut giveaways in the country as the economy continues to show strong recovery.

The Office for Budget Responsibility (OBR) is expected to announce that the government is ahead of its forecasts on cutting the deficit, which might allow the Chancellor to have more score for rate alterations.  The improving British economy might allow him to allow some tax incentives in the country.  The OBR has said that it is likely to increase its economic growth forecast for 2013 from 0.6 per cent to 1.4 per cent.

Green levies cuts to result in £50 a year fall in energy bills

George OsborneIt is believed that the cut ingreen levies, which will be announce by George Osborne in its Autumn Statement next week, will result in a fall of £50 a year in household energy bills.

Osborne announces probe into collapse of Co-op Bank

Osborne announces probe into collapse of Co-op BankGeorge Osborne, the Chancellor of the UK, has announced an independent investigation into the circumstances leading up to almost collapse of the Co-op Bank.

The investigation was announced as former chairman Paul Flowers continues to be held by the police in connection with a drug supply investigation. The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have also indicated that they are considering if to launch a formal enforcement investigations into the bank.

1,500 former miners to receive free coal for life

coalIt is believed that around 1,500 former miners are set to receive free coal supply for life to heat their homes under a new deal agree by George Osborne.

Chancellor Osborne visited Thoresby Colliery and announced the agreement for the miners, who lost their privilege when UK Coal collapsed earlier this year. The miners will get their coal delivery, or the cash equivalent guaranteed by the government.

George Osborne says UK is on the path to prosperity

George OsborneUK's Chancellor George Osborne has said that the UK is on the path to prosperity as the economy grew at its fastest rate in three years during the third quarter of the year.

The UK economy recorded a growth of 0.8 per cent during the quarter from July through to September, which is its highest since the second quarter of 2010. The construction sector recorded a strong growth at 2.5 per cent during the quarter as the government's polices helped boost growth and demand in the country.

Government borrowing to be £45billion lower than expected

George OsborneAccording to a new report released, the total Government borrowing is expected to be£45billion lower than expected during the coming few years.

The report said that the total deficit will be £8billion to £9billion lower than expected in the Budget in March during 2013-14. Ernst & Young Item Club said that the total borrowing will be £9billion lesser than estimated each year until
2017-18 backed by strong growth in the economy. The global think-tank also said it expects its economy to grow from 1.1 per cent to 1.4 per cent and for next year from 2.2 per cent to 2.4 per cent.

Panel raises doubts over ‘Help to Buy’ initiative

Help to BuyA high level panel in the UK has said raised concerns over the Help to Buy initiative, which is aimed at helping people purchase houses in the UK.

The Treasury Select Committee raised a serious warning over George Osborne's £12bn scheme that is to help first-time buyers buy houses with lower deposits. Following the roll out of government's Help-to-Buy scheme, the average deposit required for buying a new home has fallen around 75 per cent to 11,108 pounds allowing more people to acquire homes in the country.

UK’s total borrowing could be £13bn lower than target

UK’s total borrowing could be £13bn lower than targetAccording to a new report, the total borrowing by the UK government could be £13 billion lower than the target set by the government for the current year.

The Institute for Fiscal Studies (IFS) has said that the government has been on path to achieve its borrowing targets this year, based on the first five months of the year. UK’s Chancellor, George Osborne is aiming to achieve a £120bn borrowing target for the year that was set by the Office for Budget Responsibility (OBR).

UK appoints JP Morgan for banking stake sale

UK appoints JP Morgan for banking stake saleThe British government has appointed JP Morgan Cazenove as the partner for strategic advice for a stake sale in Lloyds and Royal Bank of Scotland.

Chancellor George Osborne has indicated that the government will soon start selling its holding in the Lloyds Banking Group. It is not know as to how much of the Government’s 39 per cent stake in the bank will be sold. Some suggest that the government might sell 10 per cent stake, which is valued at about £17 billion, in the bank within this year.

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