#BREAKING144 ‘ Chancellor Announces Sell-Off/Out of RBS Taxpayers Stake ‘

#AceBreakingNews – Post Update:June.10: The government plans to sell its stake in the Royal Bank of Scotland, Chancellor George Osborne has announced in his annual Mansion House speech.

Mr Osborne said the “decision point” had been reached.

He received advice from Governor of the Bank of England Mark Carney and a review by investment bank Rothschild.

 Mr Carney said a phased sell-off “would promote financial stability, a more competitive banking sector and the interests of the wider economy.”

The government provided a £45.5bn bailout in 2008, paying around 500p a share. The share price currently stands at 354.8p.

The Chancellor argued that the sale must be seen as a whole and the share price will increase in subsequent offerings as confidence grows.

Mr Osborne said: “It’s the right thing to do for British businesses and British taxpayers. Yes, we may get a lower price than Labour paid for it. But the longer we wait the higher the price the whole economy will pay.”

The review from Rothschild said that, despite this price gap, taxpayers can expect to make £14bn more than it paid out if the sale of bank assets and fees already received are taken into account.

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UK: ` Budget 2014 Documents and Details ‘

#AceNewsServices – Budget 2014: Documents and Details.  

Detail

The Chancellor of the Exchequer delivered his Budget to Parliament on 19 March 2014. This is the Budget in full and supporting documents.

Distributional analysis

The government has published regular distributional analysis of the impact on households of its reforms to tax, tax credits, benefits and public spending. It analyses the effects of the government’s policies on a cumulative basis, which means that it includes measures from all fiscal events since June Budget 2010, up to and including Budget 2014. It also includes changes that were announced before June Budget 2010 that have been implemented by the government.

Policy costings

The policy costings document sets out the assumptions and methodologies used in the government’s costing of policy decisions announced since Autumn Statement 2013. For each decision it contains a description of the measure, the base, the methodology for the costing (including relevant adjustments for behavioural responses) and highlights any areas of additional uncertainty.

Data sources

This document details all of the data sources used throughout the Budget 2014. In order to be transparent, it informs readers of the Budget where the data used in the charts, tables and text comes from and how it has been calculated.

This is the Budget in full. You can find supporting and related documents below.

Documents

Budget 2014

Ref: ISBN 978-1-4741-0071-7, PU1636, HC 1104 2013-14PDF, 2.05MB, 120 pages

Budget 2014 (print file)

Ref: ISBN 978-1-4741-0070-0, PU1636, HC 1104 2013-14PDF, 2.91MB, 130 pages

Order a copy

This file may not be suitable for users of assistive technology.Request a different format.

If you use assistive technology and need a version of this document in a more accessible format please email editor@hmtreasury.gsi.gov.uk quoting your address, telephone number along with the title of the publication (“Budget 2014 (print file)”), and its references (ISBN: 978-1-4741-0070-0, Unique reference: PU1636, HC: 1104 2013-14).

Impact on households: distributional analysis to accompany Budget 2014

Ref: ISBN 978-1-909790-80-3, PU1639PDF, 327KB, 28 pages

Budget 2014: policy costings

Ref: ISBN 978-1-909790-83-4, PU1638PDF, 617KB, 73 pages

Budget 2014: data sources

Ref: ISBN 978-1-909790-82-7, PU1641PDF, 320KB, 56 pages

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” Money Cannot Be Created or Destroyed “

#AceDebtNews says this was recently sent to my news desk and relates to as they call it “doozy of a working paper “ available to download as PDF if you are willing to pay, basically l thought the following extract from the Washing Posts Wonk Blog says what is really important on austerity, as these two eminently qualified people state their own opinions on austerity of this government!

Governor of the Bank of England Mark CarneyÒscar Jordà of the San Francisco Fed and Alan M. Taylor of the University of California-Davis have a doozy of a working paper out on the macroeconomic effects of austerity. The chart above has the money stat: According to their numbers, the U.K.’s experiment with austerity starting in 2010 led to a 3 percent reduction in growth. If true, that’s a big, big indictment of the Cameron government‘s policies.

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/09/09/british-austerity-was-even-worse-than-you-thought/

: This is a link to a Money Week Video – Their intention being to sign you up for their magazine – but if time it is well worth a watch – beware you cannot stop it or roll-back just leave and close tab!  This video long and drawn out as it is trying to put fear in us to invest wisely, with them of course and through their financial advisers advice even though they do not state this outright. Also going to the extent of adding a disclaimer to their video, to take independent advice! Also states from their point of view that this country is bankrupt and has been for a very long time!  http://pro.moneyweek.com/myk-eob-tpr123/EMYKP909/?a=5&o=128929&s=133565&u=75227&l=428374&r=MC&g=0&h=true

Spending Rises as Austerity BitesThen thirdly this simple report in the New Statesman that our Chancellor of the Exchequer argues it is nothing to do with his policies, as so many Chancellors have done before over the last 40 years! Then pray tell me whose fault is it ,we have debts totalling X and as a percentage of our GDP they are Y and that we will never repay them as they cost Z . My why not putting figures for XYZ is simple: figures lie and so do politicians! We do not need a statement of what we owe, but we need a solution of what we owe, does anyone have this solution, well of course not, or if they do, then pray tell us all, do it for nothing and admit the truth!

Well read it all if you like and then leave your comments or share:

The Chancellor‘s claim that “the pace of fiscal consolidation has not changed” is not supported by any of the available data.

The Chancellor does not deny that growth has been much weaker than forecast, although it’s worth repeating the scale of this under-performance. In June 2010, the Office of Budget Responsibility predicted that by now the economy would be about 7 per cent larger, driven by a sharp rise in business investment and exports, while the deficit would have fallen by two-thirds. What has actually happened? In fact, GDP has grown at less than a third of that rate, business investment has fallen, and the path of deficit reduction bears no resemblance at all to the original projections (which is, as I’ll elaborate below, a good thing).    

But, the Chancellor argues, this under-performance has nothing to do with fiscal policy:

More at: http://www.newstatesman.com/politics/2013/09/what-osborne-wont-admit-growth-has-increased-because-slower-cuts

My Personal View: 

So as with all my articles l will give you my very simple understanding of all that has to be done in 5 very simple lines, l call this my `Five Steps to Becoming Debt Free’ l realise only a few will read it or even understand it, but most of all will never ever agree to it, WHY – simply wanton-greed and this will prevail until people either have nothing, or until they realise that wanting more will lead them into a pit of despair they will never ever get out of …….

Well here are my simple and easy tips:

1. Everyone does not owe anyone anything!

2. They do not want anything!

3. They make do and mend!

4. They only buy what they need!

5. They except the fact to live their life with less not more!

So l leave you with these questions!

If l had never borrowed more than l could afford, would l now be in debt?

If l had never borrowed for things l did not need, would l now be in debt?

So if l had lived my life to satisfy my need , and not my want, would l now be in debt? 

If you answer NO to any of these three question, then stop borrowing and lending more, and learn to manage what you have already borrowed!!!

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Money Cannot Be Created or Destroyed

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