Danny Alexander News
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U.K. Treasury ministers said that Scotland would need to establish its own financial regulator if it voted for independence in 2014.
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The British government closed the door to a formal agreement with Scotland for its continued use of the pound if it votes to become independent next year, citing the tumult in the 17-nation euro region during the debt crisis.
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The U.K. Treasury has approved the Ministry of Defence’s plan to explore allowing a company to manage military-equipment procurement, said a person familiar with the matter.
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U.K. Chancellor of the Exchequer George Osborne suggested a vote for Scottish independence next year would imperil the use of the British pound as the new state’s money because political union is needed to operate a single currency.
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Prime Minister David Cameron hasn’t made a “convincing case” for opting out of 133 European Union police and criminal-justice measures, a panel of lawmakers said, warning of “negative repercussions” for the U.K.’s security.
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U.K. Chief Secretary to the Treasury Danny Alexander wrote to most Cabinet ministers asking them to identify cuts of a further 10 percent of their departmental budgets in the year starting April 2015, a government official said.
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U.K. Chief Secretary to the Treasury Danny Alexander reiterated a call for the European Union to freeze its budget, saying “excessive spending” risks eroding support for the austerity being imposed in its member states.
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The U.K. government gave individuals evading tax through the Isle of Man, Guernsey and Jersey three years to pay up or face prosecution.
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The chief secretary to the U.K. Treasury, Danny Alexander, said Scotland would have suffered a similar fate to Iceland in the wake of the banking crisis had it been an independent nation.
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Leaders of the U.K.’s three-week-old coalition government sought to limit political damage from their first crisis and preserve their deficit-cutting plans after Chief Secretary to the Treasury David Laws resigned over revelations about his parliamentary expenses.
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