U.K. Chief Secretary to the Treasury Danny Alexander will today confirm that his Liberal Democrat party will push for the amount people can earn before paying income tax to rise to 12,500 pounds ($20,900) if they’re in government after the 2015 election.
U.K. Chancellor of the Exchequer George Osborne, who has pledged to use his March 19 budget to help the poorest, is under pressure from his Conservative lawmakers to help “squeezed” middle-income voters instead.
Prime Minister David Cameron announced an increase in Britain’s minimum wage before it was formally agreed by his government, in a bid to stop his Liberal Democrat coalition partners taking the credit, according to a government official.
U.K. Independence Party leader Nigel Farage is ready to enter into coalition negotiations following the 2015 election with any party that offers a speedy referendum on the nation’s membership of the European Union.
The U.K. Serious Fraud Office requested 19 million pounds ($32 million) in extra funding partly to cover penalties relating to wrongly reclaimed taxes by the agency, according to its director David Green.
Royal Bank of Scotland Group Plc’s decision to award employees 576 million pounds ($957 million) of bonuses after its largest loss since its bailout risks derailing Chief Executive Officer Ross McEwan’s bid to mend its reputation.
Royal Bank of Scotland Group Plc posted the biggest full-year loss since its bailout in 2008 as Chief Executive Officer Ross McEwan outlined plans to return what he called the industry’s least-trusted lender to profit.