U.K. Chancellor's Presentation
U.K. Chancellor of the Exchequer George Osborne presents the government’s annual budget amid calls to relax his deficit-reduction measures. Osborne, who speaks to Parliament at 12:30 p.m. in London, is constrained by his commitment to keep Britain’s AAA credit rating.
The U.K. opposition Labour Party is split on its strategy for next year’s election and faces defeat unless it offers an alternative to austerity, according to the leader of the country’s biggest trade union.
U.K. insurers had another $4.2 billion wiped off their market value today as regulators said they plan a probe into policies stretching back to the 1970s, the second government threat to earnings in as many weeks.
Christine Reid punched the air when she heard Britain plans to tear up the limits on what people can do with their pension savings. Instead of relying on a “paltry” income, she can now invest in property.