You are here: Home - Uncategorized -

BoE fears King’s politics; Call to cut 50% HNW tax rate

Written by:

Members of the Bank of England court revealed yesterday they are “uncomfortable” with governor Mervyn King’s involvement in politics. Giving evidence to the Treasury Select Committee (TSC) Sir Roger Carr, BoE court member, said politicians must not draw on King when they speak in Parliament, making it seem he is giving political support, the Telegraph reported.

King’s own public comments made over the past few weeks, in which he criticised the banking industry and warned of a drastic fall in living standards, were also a cause for concern, he said.

Read more here

Osborne must cut 50% tax, say directors

The chancellor must promise to abolish the 50% tax rate on high earners in the 2011 Budget, the Institute of Directors (IoD) said.

The IoD says though the UK cannot afford to cut the tax this year, Osborne must clearly state in this budget that the 50p tax rate on earnings over £150,000 will be gone by 2015.

Miles Templeman, director general of the IoD, says there is a “damaging perception” that the UK is becoming a high-tax economy and highly-skilled individuals will be deterred from working here, the Telegraph reports.

Read more here

Fed holds interest rate at 0.25%

The Federal Reserve has confirmed it will hold its main interest rate at the range of 0-0.25% and will continue with its $600bn quantitative easing programme.

The programme is scheduled to finish in June, the Financial Times reports.

Fed officials say the US economic recovery is now on a “firmer footing” thanks to improved employment figures.

Related Posts


Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
UK unemployment rises to 2.53m

The total number of unemployed people increased by 27,000 in the fourth quarter to reach 2.53m, the highest figure since...