Monday, 25 June, 2018

Strong figures put pressure on Philip Hammond

SPRING STATEMENTMarch 12 2018 12:00pm The Times Spring statement Chancellor will get stuck into chewing gumnew Oliver Wright Policy Editor SPRING STATEMENTMarch 12 2018 12:00pm The Times Spring statement Chancellor will get stuck into chewing gumnew Oliver Wright Policy Editor
Ellis Copeland | 13 March, 2018, 18:48

British finance minister Philip Hammond on Tuesday gave an update on Britain's finances and economic outlook. The entire debate is expected to last about two hours.

And that it was the "Eeyores of Labour" who were talking down Britain.

With an expected drop in borrowing, higher-than-predicted GDP growth of 1.7% for 2017 and the recent elimination of the Government's deficit on day-to-day spending, Mr Hammond is expected to tell MPs that the United Kingdom is reaping the reward for years of austerity.

Hammond said in the next tax year taxpayers will pay £1,075 less in income tax than in 2010-11.

It will peak at 85.6% of GDP in 2017-18 then fall to 85.5% in 2018-19, then 85.1%, 82.1%, 78.3%, and finally 77.9% in 2022-23.

This marks "a turning point in the nation's recovery from the financial crisis of a decade ago" and there is now "light at the end of the tunnel", he said. He claimed there was "light at the end of the tunnel" but refused to rule out further cuts.

As the Chancellor delivered his statement, MPs from the opposite benches were quick to offer a different take on the economy via Twitter.

Craig Mack, 'Flava In Ya Ear' Superstar, Dies at 46
Following news of Mack's death, the hip-hop community and fans took to social media to express their condolences. Rapper Biz Markie also paid tribute , saying: " He had two flawless singles and the platonic rap remix".


Sevilla Star Warns Manchester United Ahead Of Champions League Tie
Carrick is unlikely to be in the starting line-up on Tuesday, while there are also big questions over Paul Pogba's availability. Carrick knows better than anyone in the squad about the high standards demanded at Old Trafford .


Serena Williams started after 15 months break
Another Serena error makes it 40-30, but Venus sends a backhand from the baseline wide for deuce. "I still have a lot to give. Venus falls behind love-30 on her serve and very quickly it's Serena with a half-chance for an early break.


Moving on to the next slice of good news, the chancellor was able to confirm that inflation would "fall back to target over the next 12 months" - arguably giving the government and Bank of England some wriggle room to further delay monetary tightening. "Our economy is created to fail people - and it needs an overhaul". "I am at my most positively Tigger-like".

"Existing plans alone are not enough", he added.

He said: "Our economy will remain and open and outward-looking, confident to compete with the best in the world".

Business leaders largely welcomed the move, but also said that it was important that the Chancellor doesn't let politics get in the way of these plans, especially as the United Kingdom heads towards Brexit.

Citing the success of the five pence plastic bag levy, the Treasury will be gathering evidence from environmental organisations, businesses and individuals on how the tax system can be used to reduce the UK's reliance on plastics.

Mr Hammond announced that London would receive and additional £1.7 billion to deliver 26,000 affordable homes - including homes for social rent, taking the total number to more than 116,000 by the end of 2021/22. Hammond's spokeswoman said it would help the government to make better judgments about whether Britain needed "fewer bridges, more programmers". Announced in the 2017 Autumn budget, new diesel cars have to meet the Real Driving Emissions limits for nitrogen oxide to stay within their current tax bands.

But it would be wrong to say that the content and tone of the statement wasn't anticipated - the Spring Statement was expected to be a short affair with no significant policy announcements, which will be saved for November's Budget.

Recommended

  • Kenya receives fresh hope in political truce among leaders

    Kenya receives fresh hope in political truce among leaders

    The rare meeting of scions of Kenya's founding fathers elicited mixed reactions but there was a common feeling of optimism. Bodyguards were withdrawan in early February after the "swearing-in" of Odinga as "people's president".
    Does America need the American Idol reboot right now?

    Does America need the American Idol reboot right now?

    American Idol returned after a two-year hiatus with a few notable changes , but it was still the same old Idol . Luke admitted her voice was "easy on the ears", and then Katy boldly added, "You're Top 10 ".
    Struggling Southampton fires manager Mauricio Pellegrino

    Struggling Southampton fires manager Mauricio Pellegrino

    They are in the FA Cup quarter-finals but have five away games out of their last eight in the league. And to think, they sacked Claude Puel for finishing 8th.
  • A look at Secretary of State Rex Tillerson

    A look at Secretary of State Rex Tillerson

    President Trump on Tuesday ousted Rex Tillerson as Secretary of State and said he is replacing him with CIA Director Mike Pompeo. The Secretary of State was reportedly asked Friday to return to Washington and informed he would be let go by Trump.
    Elements in Taliban Open to Peace Talks: Mattis

    Elements in Taliban Open to Peace Talks: Mattis

    Taliban fighters control large parts of the country, and thousands of Afghan soldiers and civilians are being killed every year. The insurgent group has said it is prepared to negotiate, but only with the United States and not with the Kabul government.
    United Kingdom  officials told that Aramco IPO unlikely until 2019

    United Kingdom officials told that Aramco IPO unlikely until 2019

    The FT report said London had a "good chance" of securing the listing, citing insiders briefed on the negotiations. NY and London have been front-runners to host the company's worldwide flotation, alongside a Riyadh listing.
  • PMB's Visit To Benue Sign Of Hope - Ortom

    PMB's Visit To Benue Sign Of Hope - Ortom

    It was gathered that the slain policemen were part of the security operatives deployed in troubled communities in the state. The President also assured the people of Benue that he can not overlook the killings in Benue or any other part of Nigeria.
    UConn earns top overall seed; defending champ South Carolina No. 2 seed

    UConn earns top overall seed; defending champ South Carolina No. 2 seed

    South Carolina, Tennessee, Texas A&M, Missouri, Georgia and LSU joined the Bulldogs as ranked teams for most of the season. Bennett said Oklahoma's strength of schedule, which was second best in the country, was a key to its selection.
    Paralympics 2018: U.S.  medal tracker

    Paralympics 2018: U.S. medal tracker

    Hosts South Korea entertained the crowd in ice sledge hockey group match with a 4-1 victory over Japan. Rob Armstrong of Guelph, Ontario led Canada with three points (two goals and one assist).
  • Bears, Allen Robinson Headed Towards Three-Year, $42M Deal

    Bears, Allen Robinson Headed Towards Three-Year, $42M Deal

    Bellamy went undrafted out of Louisville in 2012 and did not have an accrued season in his first three years in the league. The Bears may not be done in free agency and/or the draft when it comes to solidifying the wide receiver position.
    White House expects N Korea summit to happen

    White House expects N Korea summit to happen

    Some experts are concerned that North Korea could be seeking to delay global action while strengthening its nuclear program. Dealing with the North Korea issue is one reason he decided Monday to cut short the trip by a day and return home.
    Explosion targets Palestinian PM's convoy as it enters Gaza Strip

    Explosion targets Palestinian PM's convoy as it enters Gaza Strip

    Hamas and Abbas's Palestinian Authority are still divided over how to implement an Egyptian-brokered reconciliation deal. Radical Islamists opposed to Hamas also operate within the Gaza Strip and have regularly been behind unrest there.

Trump fires Tillerson, selects Pompeo as new Secretary of State Trump fires Tillerson, selects Pompeo as new Secretary of State President Donald Trump is telling reporters that he made the decision to oust Secretary of State Rex Tillerson "by myself". Mr Tillerson, a former chief executive of ExxonMobil, was only appointed to the job just over a year ago.

OECD raises outlook for Canadian growth to 2.2 per cent this year OECD raises outlook for Canadian growth to 2.2 per cent this year The global economy will see its strongest growth in seven years in 2018 thanks to a rebound in trade and investment. The OECD also projected to rise of global GDP growth by 3.9 percent for both 2018 and 2019.

Manchester United vs Sevilla Live Score Stream Commentary in Champions League 2018 Manchester United vs Sevilla Live Score Stream Commentary in Champions League 2018 They register one win on the road, but it was against a lowly Malaga side that can't get a win to save their lives at the moment. Midfielder Paul Pogba remains a doubt, however, as United try to capitalise on the 0-0 draw in the first leg in Spain.

Rabada found guilty, suspended for two Tests Rabada found guilty, suspended for two Tests Lungi Ngidi and South African teammates celebrate the wicket of Nathan Lyon on day four of the second test . Over the last nine months, this is the third time Rabada's send-offs have come into the spotlight.

Tillerson, Lavrov fail to meet in Ethiopia Tillerson, Lavrov fail to meet in Ethiopia The two foreign ministers also discussed how to jointly combat terrorism and extremism in the Horn of Africa and Sahel region. Lavrov's visit is a reflection of outstanding and longstanding relation between the two countries, he noted.

How Much A Wrinkle In Time Made Opening Night How Much A Wrinkle In Time Made Opening Night And even with those numbers, Wrinkle In Time may still struggle to make a profit - as its budget far exceeded $100 million. As a writer and director, she's known for powerhouse, emotional films like Selma - the biopic of Dr.

Benue killings: Fayose lampoons Buhari's ignorance about IGP's disregard for his order Benue killings: Fayose lampoons Buhari's ignorance about IGP's disregard for his order On the President's engagement in Benue, Shehu said: "The programme, as it stands now, is as we had it in Taraba". It is, however, not clear if the birthday get-together took place in Abuja or Nasarawa.

Congress MLAs suspended from T-Assembly Congress MLAs suspended from T-Assembly The Business Advisory Council of the Assembly would discuss and finalise the agenda for the ninth session of the House. A few of them held placards and some members also tore papers and flung them in the air.

OPEC Price Fight Weighs on Oil OPEC Price Fight Weighs on Oil That's more than top exporter Saudi Arabia producers and almost as much as Russian Federation pumps out, at nearly 11 million bpd. President Donald Trump 's decision to go ahead with tariffs in imported steel and aluminum, sparking fears of a trade war.

Gujarat Rajya Sabha polls: A must-win for both Congress and BJP Gujarat Rajya Sabha polls: A must-win for both Congress and BJP UP BJP vice-president JPS Rathore told PTI, "The party has fielded 11 candidates for the ongoing Rajya Sabha elections from UP". Congress spokesperson Satyavrat Chaturvedi, who is among the five retiring members, could not make to the list.

Bills have 'some interest' in QB Sam Bradford — NFL free agency Bills have 'some interest' in QB Sam Bradford — NFL free agency Siemian, Lynch and Chad Kelly , a seventh-rounder previous year who sat out his rookie season with injuries, remain on the roster. Their inconsistent play on both the offensive line and at quarterback have been big reasons why they've sat out the postseason.

Yankees, Neil Walker close to $5M deal Yankees, Neil Walker close to $5M deal As first reported by Jeff Passan , the New York Yankees have agreed to terms with second basemen/utility man Neil Walker . The 32-year-old hit.265 with 14 homers and 49 RBI last year for the Mets and Milwaukee, who acquired him August 12.

Video purportedly shows Iowa Senate leader kissing lobbyist Video purportedly shows Iowa Senate leader kissing lobbyist The Iowa Legislature has since hired a human resources director to oversee harassment complaints at the state Capitol. Dix was first elected to the Iowa Senate in 2011 after serving two terms in the Iowa House of Representatives.

Broncos plan is obvious: Cousins or Keenum, Keenum or Cousins Broncos plan is obvious: Cousins or Keenum, Keenum or Cousins The Jets will make a competitive bid for Cousins and expect to get a visit from him but they don't want a repeat of 2015. He had been franchise-tagged by the Redskins each of the last two seasons, but finally gets his big payday this year.

Coutinho backs Neymar to return to Barcelona Coutinho backs Neymar to return to Barcelona It is thought that he will play master puppeteer and try to negotiate with Al Khelaifi and Real president Florentino Perez. This is something Real Madrid could certainly capitalise on if they were to sign the Brazilian.