Government Bonds Correspondent
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Dec 10, 2014

UK ‘Google tax’ will target inter-company payments

LONDON (Reuters) – A new British tax on companies that shift profits out of the country and into tax havens will target inter-company fees for services like use of intellectual property, according to a Treasury document seen by Reuters.

Companies will also be required to report their potential liability to the new tax, which the note said will sit outside the existing corporate tax system. That is intended to avoid legal challenges under existing tax treaties with countries like Ireland, a major conduit for shifted profits.

Dec 3, 2014

Osborne set to concede missed budget goal as election nears

LONDON (Reuters) – Chancellor George Osborne looks set to concede on Wednesday that his push to fix the public finances has suffered another setback thanks to slow pay growth, six months before voters head to the polls.

Osborne will stress he is determined to fix the public finances in the coming years in a half-yearly update on the budget that he will use to reinforce his election message of further austerity.

Dec 2, 2014

Government pilots hands-on homebuilding to help ease housing shortage

LONDON (Reuters) – The British government will pay contractors directly to build houses on a former military base in eastern England as it seeks ways to ease a housing shortage that has become a potent political issue.

Under a trial scheme announced on Tuesday, the government will commission the building of up to 10,000 new homes at the disused Royal Air Force base in Cambridgeshire. The new model, which effectively cuts out property developers, is designed to speed up the delivery of new homes.

Dec 2, 2014

UK pilots hands-on homebuilding to help ease housing shortage

LONDON, Dec 2 (Reuters) – The British government will pay
contractors directly to build houses on a former military base
in eastern England as it seeks ways to ease a housing shortage
that has become a potent political issue.

Under a trial scheme announced on Tuesday, the government
will commission the building of up to 10,000 new homes at the
disused Royal Air Force base in Cambridgeshire. The new model,
which effectively cuts out property developers, is designed to
speed up the delivery of new homes.

Dec 1, 2014

PM Cameron to China: Hong Kong ban on MPs ‘mistaken’

LONDON (Reuters) – Prime Minister David Cameron believes a Chinese decision to prevent a committee of British members of parliament visiting Hong Kong is mistaken and has only served to heighten concerns around the former British colony, his spokesman said on Monday.

On Sunday, the chairman of parliament’s foreign affairs committee said Chinese embassy officials had told him he and other British members of parliament would be refused entry to Hong Kong to undertake research related to an inquiry about progress towards democracy there.

Dec 1, 2014

UK’s Cameron to China: Hong Kong ban on lawmakers ‘mistaken’

LONDON (Reuters) – Prime Minister David Cameron believes a Chinese decision to prevent a committee of British lawmakers visiting Hong Kong is mistaken and has only served to heighten concerns around the former British colony, his spokesman said on Monday.

On Sunday, the chairman of parliament’s foreign affairs committee said Chinese embassy officials had told him he and other British lawmakers would be refused entry to Hong Kong to undertake research related to an inquiry about progress towards democracy there.

Nov 30, 2014

UK’s Osborne pledges pre-election healthcare funding boost

LONDON (Reuters) – British finance minister George Osborne announced a 2 billion-pound annual rise in healthcare spending on Sunday, seeking to counter attacks on his Conservative party’s handling of the health service six months before an election.

Prime Minister David Cameron’s center-right party lags the main opposition Labour party on the question of who is most trusted to protect the publicly funded National Health Service (NHS).

Nov 27, 2014

UK’s Osborne seeks sweet spot between budget pain and electoral gain

LONDON (Reuters) – British finance minister George Osborne will try next week to convince voters only he can be trusted to run the economy, delivering an uncompromising fiscal plan in a budget update six months before national elections.

Osborne will focus his Autumn Statement on Britain’s return to growth, while sketching out enough sense of economic danger to dissuade the electorate from supporting his rivals.

Nov 26, 2014

Royal Mail warns of threat to nationwide service

LONDON (Reuters) – Royal Mail warned that competition from rivals such as Whistl could make it financially impossible to fulfil its legal obligation to deliver mail across the whole country, six days a week.

The postal operator, formerly state-owned before it was privatised last year, is required by law to provide this so-called universal service at a uniform pricing tariff.

Nov 26, 2014

Britain’s Royal Mail warns of threat to nationwide service

LONDON, Nov 26 (Reuters) – Britain’s Royal Mail
warned that competition from rivals such as Whistl could make it
financially impossible to fulfil its legal obligation to deliver
mail across the whole country, six days a week.

The postal operator, formerly state-owned before it was
privatised last year, is required by law to provide this
so-called universal service at a uniform pricing tariff.