Government Bonds Correspondent
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Nov 9, 2015

Unbowed by criticism, UK’s Osborne will announce new government cuts

LONDON (Reuters) – British finance minister George Osborne will spell out on Monday the first set of spending cuts to be imposed on government departments as part of an overall 37 billion-pound ($56 billion) austerity plan to turn Britain’s deficit into a surplus by 2020.

Osborne, seen as the frontrunner to succeed Prime Minister David Cameron, is seeking to shore up his credentials as a safe pair of hands on the economy after an embarrassing parliamentary defeat over welfare cuts last month.

Nov 8, 2015

UK’s Cameron to give strongest warning over possible EU exit

LONDON (Reuters) – British Prime Minister David Cameron will this week give his strongest warning yet that he might back Britain leaving the EU unless other European leaders agree to his demands for reform of the bloc.

Cameron is due to outline British demands for renegotiation of its European Union membership terms in a letter to the President of the European Council, Donald Tusk, to be published on Tuesday.

Nov 4, 2015

‘Significant possibility’ explosive device caused Russian plane crash – Hammond

LONDON/CAIRO (Reuters) – There is a “significant possibility” that an explosive device caused the crash of a Russian plane in Egypt last weekend, foreign secretary, Philip Hammond, said on Wednesday, in the strongest remarks yet by an official on the cause of the crash.

The Airbus A321M (AIR.PA: Quote, Profile, Research) crashed on Saturday in the Sinai Peninsula shortly after taking off from the resort of Sharm el-Sheikh on its way to the Russian city of St Petersburg, killing all 224 people on board.

Nov 4, 2015

‘Significant possibility’ explosive device caused Russian plane crash: British official

LONDON/CAIRO (Reuters) – There is a “significant possibility” that an explosive device caused the crash of a Russian plane in Egypt last weekend, Britain’s foreign secretary, Philip Hammond, said on Wednesday, in the strongest remarks yet by an official on the cause of the crash.

The Airbus A321M (AIR.PA: Quote, Profile, Research, Stock Buzz) crashed on Saturday in the Sinai Peninsula shortly after taking off from the resort of Sharm el-Sheikh on its way to the Russian city of St Petersburg, killing all 224 people on board.

Oct 30, 2015

UK’s Osborne to take EU reform push to Berlin next week

YORK, England, Oct 30 (Reuters) – Britain’s finance minister
will outline how he wants to protect London’s financial services
industry in a reformed European Union when he travels to Germany
next week.

Prime Minister David Cameron is trying to convince other EU
leaders to agree to changes in the way the 28-country bloc is
run ahead of Britain’s in-out membership referendum which is due
to be held by the end of 2017.

Oct 29, 2015

Islamist militants pose biggest threat to Britain for decades: spy chief

LONDON (Reuters) – Britain’s domestic spy service chief said Islamist militants pose the biggest threat to the country that he had seen in his 32 years in intelligence, as he called for new digital surveillance powers to keep Britons safe.

Andrew Parker, head of MI5, said again that militants are planning mass casualty attacks, and the threat was “on a scale and at a tempo that I have not seen before in my career”, according to a transcript of a speech delivered on Wednesday.

Oct 28, 2015

UK pledges to refund steel manufacturers’ energy levies, pending EU judgment

LONDON, Oct 28 (Reuters) – Britain promised on Wednesday to
refund the cost of so-called green taxes which push up energy
costs for steel manufacturers and other energy-intensive
industries, pending approval from the European Union.

This month over 4,000 British steel jobs have been lost or
are at risk due to a combination of weak prices and high costs,
pushing the issue up the political agenda and prompting demands
from the industry for more government support.

Oct 27, 2015

Osborne ‘isolated’ after peers block welfare cuts

LONDON (Reuters) – A defeat for proposed welfare cuts in Britain’s upper house of parliament was widely seen on Tuesday as a deep blow to Chancellor George Osborne, leaving him “isolated” and “humiliated” after he asked the country to live within its means.

    Forced to backtrack on cuts to benefits for low-earning families, Osborne’s determination to push through measures critics said would hurt Britain’s most vulnerable people was deemed ill-judged by newspapers and some lawmakers.

Oct 27, 2015

Britain’s finance minister ‘isolated’ after peers block welfare cuts

LONDON, Oct 27 (Reuters) – A defeat for proposed welfare
cuts in Britain’s upper house of parliament was widely seen on
Tuesday as a deep blow to finance minister George Osborne,
leaving him “isolated” and “humiliated” after he asked the
country to live within its means.

Forced to backtrack on cuts to benefits for low-earning
families, Osborne’s determination to push through measures
critics said would hurt Britain’s most vulnerable people was
deemed ill-judged by newspapers and some lawmakers.

Oct 27, 2015

Government’s welfare reforms blocked by peers

LONDON (Reuters) – Chancellor George Osborne’s flagship welfare reforms were blocked by parliament’s unelected upper chamber on Monday, dealing a blow to the Conservative government and setting the stage for a bitter constitutional conflict.

The House of Lords overturned long-standing political convention by voting to reject a financial matter, opposing planned changes to tax credits which supplement the income of those on low pay.