Bank of England has many choices to boost Britain's economy. The bank may slack its financial policy on fears that the country may exit the European Union.
Tags: George Osborne
UK's service sector records 2.8% growth in January
The service sector of Britain posted a 2.8% growth in January, accounting for roughly 80% of the nation's economy. The country's GDP increased by 0.6% during the fourth quarter of 2015.
Driverless Car Technology Will Boost £15 Billion to Britain's Economy
Chancellor of Exchequer George Osborne in his latest budget has set a £100 million ($141 million) budget for research and development of autonomos vehicle. Driverless cars will be tested on the road next year.
George Osborne Opts For Further Cut In Public Spending In Lieu of Tax hiking
George Osborne has over-shoot the borrowing forecast due to weak economic outlook and poor tax receipts. In order to achieve his self imposed goal, he has been left with only two options for his 2016 budget- cut public expenses or increase taxes. However, the UK chancellor has hinted opting for reducing public expenses while addressing the BBC’s Marr Show.
Brexit Disrupted George Osborne Effort to Balance the Budget
Chancellor of the Exchequer George Osborne face a hurdle in fulfilling his last year's ambition. In to eliminate budget deficit. Brexit issue and economic slowdown has decimated his plan.
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The finance minister of Canada, Bill Morneau, is expected to disclose the principal terms of Liberal's first budget on Monday. Morneau's revised budget figures will highlight the problems facing Canada's economy.
Britain is losing its faith in the chancellor George Osborne as he is readying for the annual budget in the midst of global challenges facing the nation's economy. Poor economic conditions prevented the chancellor from achieving his election targets.
Bank of England has been keeping its interest rates at the lowest point at 0.5% since March 2009. However, some signals of the interest rate upsurge will be a shock to some people in Britain.
Amidst a growing threat from Islamic State terrorism, Britain strengthen its defense by spending more budget on defense and security. According to CNN, Britain will beef up its security by purchasing nine new Boeing P8 maritime patrol aircraft for surveillance and anti-submarine warfare,with additional spending of £12 billion ($18 billion).
The Treasury has sold worth of 13 billion British pounds of Northern Rock mortgages to a US private venture firm in what is thought to be the greatest ever budgetary source deal by the European government.
City watchdog the Financial Conduct Authority wasted £3.2 million of taxpayers' money on a deal with Oracle for software that was never used. FCA officials admitted that the agency only required £1 million for a software they needed. But according to reports from This Is Money, the FCA paid a total of £4.2 million for a deal with San Francisco-based tech giant Oracle.
As the onslaught of the stock market tumult continues to wreak havoc on some of Britain's banks, Lloyds and Royal Bank of Scotland lost almost £3 billion from their value.
For a world economy coming to terms with a soaring dollar and a plunge in oil prices, this week will be all about the U.S. Federal Reserve's policy meeting and its intentions on interest rates.
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.
