SPRING STATEMENTMarch 12 2018 12:00pm The Times Spring statement Chancellor will get stuck into chewing gumnew Oliver Wright Policy Editor
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.
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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.
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".
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 ".
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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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
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.
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
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.
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.