British finance minister George Osborne will allow pensioners to cash in annuities in exchange for lump sums in his annual budget next week, British newspapers reported, in a move designed to woo voters before a May national election.
George Osborne
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Britain's finance minister, George Osborne, is planning to introduce a new "diverted profits tax" targeting multinational companies judged to have shifted profits overseas to avoid tax, the Sunday Times newspaper reported, citing government sources.
Asking prices for homes on sale in Britain posted the largest monthly fall on record in December but are likely to rise by between 4 and 5 percent next year, property website Rightmove said on Monday.
British manufacturing activity unexpectedly picked up a little speed in November as domestic demand offset falling exports due to sluggish orders from the euro zone and emerging markets, a survey showed on Monday.
The British government plans to sell its 40 percent stake in the fast-speed Eurostar train operator that links Britain with the European continent, finance minister George Osborne announced late on Sunday.
Finance Minister George Osborne made it clear that the government did not interfere with the sale of Lloyds branches to Co-op Bank, reported Reuters.
The UK government could sell off its remaining 33% stake in Lloyds Banking Group next year to complete the privatization of the lender, according to sources familiar with the process.
In a recommendatory report, Rothschild said it would be best to have the bank's bad debts placed in an internal bad bank instead of breaking up the bank.
Chancellor of the Exchequer George Osborne is planning whether toxic assets of RBS would be put into a bad bank.
The Help to Buy scheme of George Osborne risked creating a new housing bubble.
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