Government Bonds Correspondent
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Jul 21, 2014

UK overhauls employee pension schemes, offers more flexibility

LONDON, July 21 (Reuters) – Britain published new rules for
private pensions on Monday which give retirees greater freedom
to spend their savings as they like, fleshing out reforms
announced earlier this year that shook the share value of
British insurers.

Finance minister George Osborne caught Britain’s pensions
industry by surprise in March when he scrapped a rule forcing
people to buy an annuity, a financial product which converts a
retiree’s pension pot into a guaranteed retirement income.

Jul 20, 2014

Britain to detail pensions overhaul with tax, annuity reforms

LONDON, July 21 (Reuters) – Britain will on Monday publish
new rules for the pensions industry giving retirees greater
access to their savings and free financial advice, fleshing out
reforms announced earlier this year that shook the share value
of British insurers.

Finance minister George Osborne caught Britain’s pensions
industry by surprise in March when he scrapped a rule forcing
people to buy an annuity, a financial product which converts a
retiree’s pension pot into a guaranteed retirement income.

Jul 20, 2014

UK, France, Germany eye fresh Russia sanctions after plane disaster

LONDON/PARIS, July 20 (Reuters) – Britain, Germany and
France agreed on Sunday they should be ready to ratchet up
sanctions on Russia over the downing of a Malaysian jet carrying
298 passengers when European foreign ministers meet in Brussels
on Tuesday.

Ukraine on Sunday accused separatist rebels of hiding
evidence that a Russian missile was used in the shooting down of
the airline that has intensified a showdown between the Kremlin
and Western powers.

Jul 17, 2014

UK apologises for scheme that let Irish bomb suspect go free

LONDON/BELFAST (Reuters) – A British scheme to inform Irish nationalist militants they were no longer wanted by police was flawed, the government said on Thursday, apologising for a policy that allowed a suspected bomber to walk free earlier this year.

Suspected members of the Irish Republican Army (IRA) received letters telling them they were no longer wanted, as part of a 1998 peace deal that largely ended three decades of violence over Britain’s rule of Northern Ireland.

Jul 15, 2014

UK’s Cameron turns to women and Eurosceptics in major ministerial shake-up

LONDON (Reuters) – British Prime Minister David Cameron on Tuesday pushed through his biggest government shake-up since coming to power in 2010, promoting women and Eurosceptics to senior roles in an appeal to voters in next May’s national election.

In one surprise development, William Hague, Britain’s most senior diplomat for the past four years, voluntarily stood down allowing Cameron to appoint Philip Hammond, the defence minister and a prominent Eurosceptic, to the influential post.

Jul 15, 2014

Britain chooses low-profile lawmaker for EU Commission job

LONDON (Reuters) – Prime Minister David Cameron on Tuesday nominated Jonathan Hill, a relatively unknown lawmaker who backs his leader’s European renegotiation strategy, to become Britain’s next European commissioner.

Cameron has promised to try to renegotiate Britain’s ties with the European Union and hold a membership referendum in 2017 if he wins a national election next year. Hill, a 53-year-old lord, is expected to play an important role in that process.

Jun 29, 2014

UK’s Labour look to shed ‘anti-business’ label with tax proposals

LONDON, June 29 (Reuters) – Britain’s opposition Labour
party will on Monday attempt to cast off accusations that its
left-leaning policies have made it ‘anti-business’ by proposing
tax changes designed to increase long-term investment and foster
greater competition.

Since Labour announced plans to force energy firms to freeze
their prices last September, businesses have become increasingly
concerned about how much political intervention they would face
if, as a narrow lead in opinion polls currently suggests, the
party wins an election next May.

Jun 29, 2014

First UK poll after Juncker battle shows rising support for EU exit

LONDON (Reuters) – Public support for Britain to leave the EU is growing again after falling to a multi-year low, according to the first survey published since EU leaders nominated Jean-Claude Juncker to become the next president of the European Commission.

British Prime Minister David Cameron openly campaigned to stop Juncker getting the top EU job, but last Friday lost the final vote by 26-2. [ID:nL6N0P815O] He warned at the time that choosing Juncker, an old-style EU federalist, would make it harder to keep Britain in the European Union.

Jun 25, 2014

Britain publishes draft laws fleshing out pensions reform

LONDON, June 26 (Reuters) – Britain took a step closer to
reforming pensions by publishing draft legislation on Thursday
that permits collective workplace pension schemes, despite
criticism of the plans by the industry.

The new rules, which were outlined earlier this year and
should become law before a general election next May, will allow
pension providers for the first time to pool the assets bought
by fund members to reduce risks and cut costs.

Jun 25, 2014

Britain pledges to fight for reform to EU financial lawmaking

LONDON, June 25 (Reuters) – Britain said on Wednesday it
would push the European Union to improve the way it sets
financial rules, promising to protect London’s role as a global
financial sector and demanding better assessments of the impact
of new regulations.

Nicky Morgan, newly-appointed minister in charge of
financial services, said she would lead a major drive to improve
the EU’s legislative process and pledged to keep on challenging
rules that Britain disagreed with.