Government Bonds Correspondent
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Oct 15, 2015

Opposition leader Corbyn suffers first rebellion in parliament

LONDON (Reuters) – Britain’s newly-elected opposition leader, socialist Jeremy Corbyn, suffered the first rebellion against his leadership on Wednesday in a parliamentary vote that exposed divisions over his economic strategy and policymaking process.

A group of Labour lawmakers defied strict instructions to vote against a plan put forward by the Conservative government to enshrine into law a commitment to get rid of the deficit and target a budget surplus.

Oct 14, 2015

UK softens rules for senior bankers, widens scope of regulation

LONDON (Reuters) – Britain on Thursday announced it was scrapping plans that would treat senior bankers as ‘guilty until proven innocent’, in a move likely to infuriate regulators but ease industry fears that tough new rules will scare top talent away from London.

The finance ministry said that as part of a new bill being launched in parliament, rules to make individual senior bankers more responsible for failings on their watch would be broadened out to cover the entire financial sector.

Oct 14, 2015

Osborne dares opposition MPs to back government policy

LONDON (Reuters) – British Chancellor George Osborne dared “moderate” members of parliament from the main opposition party on Wednesday to vote with the government on financial policy, hoping to exploit divisions over its new far-left leader.

The government has tried to benefit from disarray in the Labour Party since last month’s election of Jeremy Corbyn, a veteran lawmaker whose promised new consensual style of politics has exposed him to charges of a lack of direction.

Oct 14, 2015

Osborne urges Labour rebels to back new fiscal law

LONDON (Reuters) – Chancellor George Osborne on Wednesday urged opposition Labour Party MPs to rebel against their newly-elected leader, Jeremy Corbyn, and support a Conservative proposal to enshrine new rules on fiscal discipline in law.

Parliament is due to vote later in the day on rules that commit the government always to target a budget surplus in ‘normal’ economic times – a move that he says is needed to cut the national debt and provide long-term economic security.

Oct 13, 2015

Osborne urges opposition rebels to back new fiscal law

LONDON (Reuters) – Chancellor George Osborne on Wednesday urged opposition Labour Party lawmakers to rebel against their newly-elected leader, Jeremy Corbyn, and support a Conservative proposal to enshrine new rules on fiscal discipline in law.

Parliament is due to vote later in the day on rules that commit the government always to target a budget surplus in ‘normal’ economic times – a move that he says is needed to cut the national debt and provide long-term economic security.

Oct 6, 2015

With jokes and rugby, London’s mayor reminds party he is a contender

MANCHESTER, England, Oct 6 (Reuters) – In between jokes,
mocking asides at rivals and a running rugby metaphor, London’s
mayor, Boris Johnson, sent a more serious message to the ruling
Conservative party on Tuesday — he is still a contender for the
leadership.

At the party’s annual conference in the northern city of
Manchester, speeches and comments by several leading members
have all but brought into the open the jostling for position to
take over from David Cameron when he steps down by 2020.

Oct 6, 2015

Mass immigration is damaging Britain, says Cameron’s interior minister

MANCHESTER, England, Oct 6 (Reuters) – Mass immigration is
damaging British society, Conservative interior minister Theresa
May said on Tuesday, promising a tough approach on an issue that
will influence Britons’ choice of whether or not to leave the
European Union.

“When immigration is too high, when the pace of change is
too fast, it’s impossible to build a cohesive society,” May,
seen as a possible future leader, told a party conference in the
northern city of Manchester.

Oct 5, 2015

UK’s Osborne poaches policy with eye on leadership

MANCHESTER, England, Oct 5 (Reuters) – Finance Minister
George Osborne will launch a plan on Monday to spur
infrastructure investment in Britain, seeking to counter a push
by the left-wing opposition and stake the government’s claim to
the centre ground.

His adoption of a policy promoted by his Labour Party
opponents fuels expectations that Osborne is moving towards the
centre to buttress his credentials to succeed Prime Minister
David Cameron, who has said he will step down by 2020.

Oct 5, 2015

Osborne promises to fund infrastructure

MANCHESTER, England (Reuters) – Chancellor George Osborne will launch a programme on Monday to spur infrastructure investment in Britain, poaching the policy from the Labour Party to stake the government’s claim to the centre ground.

At the Conservative Party conference, Osborne will say the government will invest 5 billion pounds by 2020 and pool local government pension pots into six wealth funds worth 25 billion pounds each to invest in vital infrastructure.

Oct 4, 2015

UK Osborne promises to fund infrastructure, poaches rival’s policy

MANCHESTER, England, Oct 5 (Reuters) – Finance minister
George Osborne will launch a programme on Monday to spur
infrastructure investment in Britain, poaching the policy from
the left-wing opposition to stake the government’s claim to the
centre ground.

At the Conservative Party conference, Osborne will say the
government will invest 5 billion pounds ($7.6 billion) by 2020
and pool local government pension pots into six wealth funds
worth 25 billion pounds each to invest in vital infrastructure.