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Some readers may have been given the impression recently that the Conservative party is a quasi-religious cult, dedicated to the reverence of its chosen people — or as they are known in the party, “pensioners”. But wait, what was this? A makeover? Wednesday’s Budget bravely acknowledged that not everyone in Britain remembers the death of
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The problematic fact at the heart of UK chancellor Jeremy Hunt’s “Budget for growth” is that the latest data shows Britain’s economy is still extremely sluggish. The average annual growth rate from the eve of the coronavirus pandemic was forecast by the Office for Budget Responsibility fiscal watchdog at only 1 per cent. That expectation
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British businesses will be offered £27bn in tax relief for the next three years to boost company investment as the government seeks to jump-start economic growth. In his Budget, Jeremy Hunt, the chancellor, set out plans to make the UK “the best place in Europe for companies to locate, invest and grow” with incentives to
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Chancellor Jeremy Hunt on Wednesday presented a long list of measures to boost UK economic growth, but the medium-term outlook remained relatively unchanged. Hunt said his was a Budget for “long-term, sustainable, healthy growth that pays for our NHS and schools, finds jobs for young people, and provides a safety net for older people”. It
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Mayors of England’s two biggest city regions outside London have been granted greater financial flexibility in the Budget as well as new powers in sectors including transport, housing and skills. The deals follow months of negotiations between the central government and the mayors of Greater Manchester and the West Midlands, following a commitment in last
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The UK government will extend its energy price cap for households by an additional three months as it seeks to shield consumers during the cost of living crisis. The Energy Price Guarantee, which has capped typical annual energy bills at £2,500 this winter, will continue from April to June, saving a typical household £160 during
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Extra pension tax breaks for higher earners, more free childcare for working parents and all-around help with energy bills top the list of the chancellor’s measures for consumers, householders and savers. Pensions allowances for higher earners will rise in an effort to discourage early retirement. The £40,000 cap on tax-free annual pension contributions — frozen
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HSBC’s eleventh-hour decision to offer £1 for Silicon Valley Bank UK was driven as much by its inability to fully analyse 30 per cent of the target’s loan book as the opportunity to win a host of start-up clients. The bank’s executives had already determined that SVB UK and its customers were a good strategic fit,
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Technology start-ups are scrambling to deal with tighter regulation and the influence of larger banks that are set to replace the informal financial relationships and close personal connections that have characterised Silicon Valley Bank’s dealings with the sector. Young tech companies, which account for a large part of SVB’s deposits, were making plans to take
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The writer is a science commentator The assertion that the UK is world-beating at science and technology is often repeated but rarely questioned. The government boasts of being a “global leader”; UK Research and Innovation, the national funding agency, talks of the “UK’s global leadership in transformative technologies”. The reality may be less rosy, according
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Equities in Asia rose on Wednesday following a rebound in US banking stocks, as measures from regulators boosted confidence in the financial sector after the collapse of Silicon Valley Bank. Japan’s Topix added 0.8 per cent, South Korea’s Kospi added 1.5 per cent and Australia’s S&P/ASX 200 gained 0.7 per cent. Hong Kong’s Hang Seng
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