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Budget 2012

Announcing the biggest ever rise in the tax-free allowance, an increase of £1,100 which will let people earn up to £9,200 before being taxed, the Chancellor declared: “We are in touching distance of the goal of £10,000 personal allowance that we all share.” George Osborne spared 400,000 middle class families from child benefit cuts in a move today while handing another £3.5 billion in tax cuts to working families. The chancellor said the 50 per cent top tax rate would be dropped to 45p in the pound for those earning over £150,000 from April next year. He countered with a hike in stamp duty on homes worth over £2million from five per cent to seven per cent, while, in another measure personal tax allowances were increased to £9,205, saving individuals £220 each. Mr Osborne told MPs in the Commons: “This Budget supports working families and helps those looking for work. It unashamedly backs business. And it is on the side of aspiration: those who want to do better for themselves and for ...
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Labour will cause TfL to "run out of cash" within three years

Re-produced from www.notkenagain.com " The Times has seen internal Transport for London (TfL) correspondence that show Ken Livingstone's plan to cut fares will cause TfL to "run out of cash" within three years. In order to plug the financial gap that taking £1 billion from the investment budget will create, a huge fare increase of 38% over inflation will be needed in 2015. One senior TfL official, according to The Times, said of Livingstone's plans: "TfL would run out of cash during 2015. To prevent this happening, and to return to the cash levels our business plan assumes by the end of 2015-16 financial year, it would require across bus, Tube and rail, either: RPI plus 38 per cent increase in January 2015, or RPI plus 12.5 per cent increases in both January 2014 and 2015". Ken Livingstone has promised twice before he would cut fares allegedly in order to try and get elected and then raised them above inflation. " Tony Travers said the mone...
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How Labour hid Youth Unemployment figures

Employment Minister Chris Grayling said that at any one time up to 40,000 young people were on a training scheme under Labour so did not show up on claimant count figures, even though they were still unemployed. Around 1.3 million people were on a training allowance scheme under Labour so they 'disappeared' from the jobless register, added Mr Grayling. Under the coalition’s work programme, no one disappears from the system because they continue to receive jobseeker’s allowance, said the minister, adding: 'What you see is what you get. That was not the case under the New Deal (Labour’s employment programme).' Mr Grayling said that because people no longer automatically leave jobseeker’s allowance when they start a work programme, the number of long-term claimants, especially young people, had 'inevitably' risen. 'We’re giving a true picture rather than an artificial one.' A Department for Work and Pensions spokesman said: 'This Government i...
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