As part of the coalition Government’s welfare crackdown, announced in June, it has been revealed that winter fuel payments and child benefit, face severe overhauls. The massive overhaul of the system comes as part of the Government’s plans to reduce public spending. There is speculation that ministers are reviewing the provision of child benefit for [...]
As it continues with its priority of cutting Britain’s budget deficit, the coalition Government has indicated that incapacity benefits will be targeted in a welfare crackdown.
Chancellor George Osborne has already announced tough austerity measures to cut the £155 billion deficit but has now made it clear that sickness benefits will be targeted, as they cost [...]
Today’s budget, currently being delivered by Chancellor George Osborne, has bought with it many painful cuts.
Firstly, VAT has been increased from 17.5% to 20% from 4 January, 2011 – this is expected to raise £13 billion a year, according to Osborne.
However, “essentials” such as food, newspapers and children’s clothing will remain exempt from VAT.
Meanwhile, child [...]
At today’s Pre-Budget Report, Chancellor of the Exchequer Alistair Darling unveiled measures to claw back money in order to pay off the UK’s spiralling debt.
Mr Darling confirmed there would be a one-off 50% tax on bankers’ bonuses paid above £25,000.
The Chancellor said the banks, rather than the bankers, will pay the tax and the temporary [...]