#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.

@acenewsservices

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G7 SUMMIT: ‘ Cameron announces 125 extra military trainers to Iraq to fight Islamic State ‘

#AceBreakingNews – G7:June.07: The UK is to send an extra 125 military trainers to Iraq to help in the battle against Islamic State, the PM has said.David Cameron made the announcement at the G7 in Bavaria ahead of a meeting with the Iraqi prime minister on 8 June.

Mr Cameron told reporters that terror activity by IS was “the biggest threat” G7 leaders had to address.

Most of the extra personnel would be involved in training Iraqi soldiers to deal with explosive devices, he added.

G7 summit: 125 extra military trainers to be sent to Iraq The UK is to send an extra 125 military trainers to Iraq to help in the fight against Islamic State, PM David Cameron announces at the G7 summit.

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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!!!

Ace Related News :

Money Cannot Be Created or Destroyed

Related articles

 

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“God Provides the Answer and We Listen to Ourselves”

#AceNewsServices says l have just heard on the local news about how the UK economy has improved and is growing faster than any other country. Well we should all be so grateful and be patting this government on the back for a good job, of course let us look deeper and we see that this transparency, is a dark glass hiding the real truth.

The reason is, oh yes we have growth of 0.8% and a rise in-house prices of 24% in certain areas of the country, mainly in the South of England of course. So far so good …………………………………………….

So why am l such an pessimist? Well everything that has been achieved in this country for the last 30 years, has had a price and the price in this case is borrowing, lending and debt.

GovUk Borrowing £2 Billion Per WeekGeorge Osborne says we need austerity, and cuts of £25 billion are required, but the real cost is the#UK Debt stands as at today’s date, at over £900 billion and counting. According to “UK National Debt’s” latest figures and as l write, this is  £1.254.936.279 and some change. Check it out yourself when you read this post, and see how much it has grown, just click #UKDebt     

  • So how is this government funding our lifestyles as citizens? Well according to the ONS ………………..

UK Borrowing in UK in December 2013The UK national debt is the total amount of money the British government owes to the private sector and other purchasers of UK gilts.

  • Public sector net debt was £1,211.8 billion at the end of September 2013, equivalent to 75.9% of GDP
  • Source: ONS [1. ONS public sector finances ] [This figure excludes temporary effects of financial interventions (PSND ex) (page updated October 23rd 2013)

UK national debt

So as you can see the rise is dramatic in 2012-13 to say the least, but in 2008-2009 it was nearly half. Now you would think people would have learned that aFinancial Crisisin 2008, and how much everyone lost. This should teach us that borrowing too much does not work, but we are so easily tempted into buying what the devil wants, not what we need. 

Car Purchase 2008 - Debt 2009Now the BBC reports today that  figure from the SMMT that New Car Sales were up in 2013 in the UK car sales in 2013 recorded their best year since 2007, industry figures have shown, helped by cheap credit deals and stronger consumer confidence.

The Society of Motor Manufacturers and Traders (SMMT) said that 2.26 million vehicles were registered in 2013.

That was a 10.8% rise on 2012, although the figure is 6% lower than 2007’s 2.4 million figure.

The 2013 total was boosted by a 23.76% rise in sales in December, marking the 22nd successive month of increases.

Industry analysts say that attractive financing deals have tempted buyers, with three-quarters of sales to private buyers now involving a financing package.

So once again we are back into that borrowing circle, as this government literally con’s us into believing what they tells us, and  just like sheep, we follow them into the darkness to be shorn.

Finally as l said earlier and it may stagger some, due to the staggering amount ofPayment Protection Insurance and the Compensation” people are using their money as either deposits or part-payments to purchase new cars. Thus putting the monies stolen from them, back into the same pockets {or similar} that has just paid out the compensation!

Does this not sound ludicrous, to anyone or is it just me? 

I rest my case but mark my words, mark them well 2008 crisis was a walk in the park compared to what will happen in the future, no government, country or nation can borrow money on debts, and then charge interest just to keep “British Banks” in business.

You have been warned – more updates soon ……………………………………………………………………………………………….

 

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Cameron’s Pledge to Keep the “Triple Lock System” but how long can his Promise Last!

#AceNewsServices says according to the latest BBC interview on the “Andrew Marr Show” David Cameron has pledged to keep the “Triple Lock System” his pledge.  Though he rejected suggestions it was a purely political move aimed at attracting older voters back to the Tory fold. but reiterated  the “triple lock” announcement as the “first plank” of the Conservative general election manifestoHe said it was “fair” to prioritise pensions even at a time when benefits for younger people were being slashed.

English: David Cameron's picture on the 10 Dow...

English: David Cameron’s picture on the 10 Downing Street website (Photo credit: Wikipedia)

Triple Lock Pledge: 

1. The state pension would continue to rise by at least 2.5% a year until 2020 if the Conservatives win the next election, David Cameron has said.

  1. The PM pledged to keep the “triple lock” system, which ensures the state pension goes up by whichever is higher – inflation, wages or 2.5%.

Under the coalition’s “triple lock”, the state pension rose by 5.2 per cent in 2012 – or £5.30, the largest cash rise ever seen, and by £2.70 last year, to £110.15 per week.

This would be a great trick if he can achieve it, as with rising house prices and a relaxed view on spending by the Chancellor George Osborne, then inflation is sure to rise in line with current spending ,even if austerity measures on the worst off continue.

Also as the pledge is aimed at a certain age group ,whose health declines in many cases in later years, this government will give with the right-hand and take it away with the left, as each time the pension rises, so does the healthcare costs, the last time the rise was £2.70 he says in this mornings Telegraph    but what he did not make clear was that £2.25 was taken back in “Healthcare” costs. Leaving a mere 0.50p for essentials.  

He maybe alright when he retires with his index-linked or final salary payment scheme, or whatever concoction this illustrious government dreams up in the future, but so many “Poorer Old Age Pensioners” will not be with ever rising food, energy and healthcare costs.

So if you make a pledge to the people on Britain ,then keep your promises and do not think everyone living here is not able to see that while your glass is half full their’s is well and truly not just half empty but, empty.                 

Note: Labour and the Lib Dems have yet to comment on the announcement, l wait with bated breath! 

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“George Osborne to Cap Business Rates – Is it Not time To Cap Council Tax As Well”

George Osborne’s plan to cap business rates, will once again help those that have more, and leave those that have less out in the cold. The total unfairness of any system that takes care of the businesses, and in the meantime leaves other people still paying council tax, is a typical “Tory” move.
Why help those who have less, when by supporting businesses under the banner of helping the hard-pressed economy is a better action #AutumnStatement

#acenewsservices, #autumn-statement, #business-rates, #council-tax, #george-osborne

“Osborne to Get Young People Working Until They Are 70 – Allowing Pension Companies Time To Better Their Investments”

A proposal from George Osborne to get young people to work until they are 70 years of age, could assist our pension companies greatly, in that there funds were hit hard for a number of years, especially during the 2008 financial crisis.
As most people may know a period of at least thirty years is required for any pension pot to reach its full potential, allowing for the bonuses not added until completion.
This move could herald another way of keeping his cronies happy, whilst in the meantime allowing pension companies time to accrue more interest, on their massive investment funds. This is a simple sell-out of the people and a bonus for investment companies #AutumnStatement

#acenewsservices, #autumn-statement, #george-osborne, #torys

George Osborne to replace tax disc with electronic version after 93 years

According to the BBC there is a possibility that the UK tax disc to show motorists have paid vehicle excise duty is to be replaced with an electronic system, Chancellor George Osborne is to announce in his Autumn Statement. The disc was introduced in 1921 but officials say it is no longer needed.

#acenewsservices, #autumn-statement, #bbc, #george-osborne, #tax-disc

Anonymous Protest: Russell Brand Joins UK Austerity cuts March

Anonymous Protest: Russell Brand Joins UK Austerity cuts March

Russell Brand supports Anonymous march in London

Russell Brand joins Anonymous movement officially

Fireworks are thrown at Buckingham Palace and bottles hurled at police during protests over issues including political corruption.

This is Russell Brand here speaking about Politics and corporate greed, I blogged it, but here is the video

Austerity cuts (Public Spending) in the UK are being implemented, Russell Brand, very famous here, demanded a revolution. He is an ex Heroin Addict who is now a very clever lad, actor and does radio, now he has taken to politics, and many love this lad. What you will see here and read here is what happens in the UK when the Government piss the people off. There is a demonstration in Edinburgh planned for next week, I will be there with my Anonymous mask (Joking, ;-) ) I think the Government have done good things, but they are cutting crucial spending on the UK people. We say FUCK YOU and we will take to the streets till the Government change their minds. This is how we work. American people please take note. This is how VERY EASY it is to protest when your Government does not work for you. The people protesting have lost nothing, they are protesting for the people who have. The police NOT having guns make sure we can demonstrate, just saying!

Viva La Revolution!

Comedian Russell Brand joined hundreds of masked Anonymous protesters in central London as part of a worldwide demonstration against austerity cuts.

Fireworks were reportedly thrown towards Buckingham Palace and a fire was started next to the nearby Victoria Memorial, while some of those present clashed with police.

Glass bottles were flung at officers during the disorder and 11 people were arrested, nine for public order offences and two for criminal damage.

Police in riot gear tried to shepherd the crowd, who also gathered in Parliament Square as part of the pre-arranged Anonymous Million Mask March.

A number of similar demonstrations took place in cities in Japan, Australia, and New Zealand in opposition to austerity cuts, corruption and an increase in state surveillance.

Brand was pictured alongside fellow protesters in London, wearing one of the trademark masks adopted by hacktivist group Anonymous.

He later wrote on his Twitter page: “Whatever party they claim to represent in the day, at night they show their true colours and all go to the same party #MillionMaskMarch.”

Image of Britain's Chancellor of the Exchequer George Osborne burns on a placard during a protest against budget cuts and energy prices on Westminster Bridge, central London
An image of George Osborne burns on Westminster Bridge

Brand’s comments follow an appearance on Newsnight and a guest editorship of the New Statesman in which he called for a “total revolution of consciousness and our entire social, political and economic system”.

Others involved in the London demonstration accused the police of heavy-handed tactics.

Ceylan Hassan, 24, a university graduate, said: “They started shouting move back, move back, but we had nowhere to go. The police started pushing us, screaming ‘move back, move back’.

“There was a fire on the right hand side of the monument and people started throwing things.”

Protesters were moved back away from Buckingham Palace as the atmosphere grew tense.

Some of those involved in the march were seen ripping barriers from the side of the road.

Sean Roesner, 21, a self-employed computer programmer at the protest, said: “We turned up and the protest was at Buckingham Palace. When we arrived people were firing fireworks at the palace.

“It was funny. I didn’t have any but I would have fired some if I had.

“I joined Anonymous because I was arrested under the Computer Misuse Act. I spent eight months on police bail last year and had done nothing wrong.

“We are here to stand up for what we believe in, to make the world a better place.”

Mr Roesner said his friend had been among a group of people encircled by the police on The Mall.

Riot police officers form a line during a protest against budget cuts and energy prices in Westminster, central London

The police stand back, they know what is best :D

Protester wearing a Guy Fawkes mask on top of his head is pushed back by riot police officers during a protest against budget cuts and energy prices in Westminster

This UK man is not scared of the cops

Protester wearing a Guy Fawkes mask stands in front of a line of riot police officers during a protest against budget cuts and energy prices in Westminster, central London

This UK man mocks the cops. Note no guns? No Guns allows this!

Protesters wearing Guy Fawkes masks are pushed back by riot police officers during a protest against budget cuts and energy prices in Westminster

Police try and fail to control the protesters. We won’t take this. Like Russell says in the video above “We are angry”

Protesters burn energy bills during a protest against budget cuts and energy prices on Westminster Bridge, central London

A Revolution is coming, we don’t sit and moan, we deal with it. We are a VERY AWAKE people here. The Scottish one should be fun

Image of Britain's Chancellor of the Exchequer George Osborne burns on a placard during a protest against budget cuts and energy prices on Westminster Bridge, central London

Cameron’s money man George “Eton Boy” Osborn will get the message. He better

Bonfire of Austerity protest

The message is fairly simple. We wont take it

Bonfire of Austerity protest

Protesters remove police fencing

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Fraud Alert as Scam Emails are Sent Claiming they are from HM Treasury

English: HM Treasury Crest

English: HM Treasury Crest (Photo credit: Wikipedia)

300px alert

300px alert

Mass-marketing fraud, when you receive uninvited contact by email, phone or letter to con you out of money, is a multi-million pound industry and new scams are emerging all the time.

Fraudsters often use the names of genuine people and organisations to make their deceptions seem more credible. Recent examples of scam correspondence have cited HM Treasury or Cabinet Office ministers or have claimed to be working on behalf of the HM Treasury.

HM Treasury and its agencies will never contact you asking for money or personal details.

More information about types of fraud and what to do if you think you may have been a victim of fraud is available on the Home Office pages.

There are also a number of scams from people claiming to work on behalf of HM Revenue and Customs. For further information please visit the HMRC website.

#acenewsservices, #cabinet-office, #confidence-trick, #fraud, #george-osborne, #hm-revenue-customs, #hm-treasury, #hmrc, #home-office

New Council Bands Not For The Rich Says Osborne

English: A Western Australia impressed duty st...

English: A Western Australia impressed duty stamp for eleven shillings and three pence. (Photo credit: Wikipedia)

The Government has dismissed speculation that new council tax bands will be introduced to recoup more revenue from the wealthiest homeowners. It follows reports the government was considering additional bands for homes valued over £1,1.2,and £2 million. Most papers report that George Osborne is now expected to raise stamp duty in next month’s Autumn Statement to compensate. 

So finally George Osborne gets off the fence the opposition party put him on, and hoists his colours to the main party-line!  Well that took a while but was it worth waiting for? Not really! Same old, same old rhetoric, of protect the wealthy! As one day they may vote us back in as the only party, no coalition this time! And as a way to sweeten the pot, no stamp duty for the rich this time around!

So what do we get instead, oh yes a hidden agenda of raising stamp duty, but for who and at what cost to people’s housing aspirations, not really clear on this either, and l quote! An increase in either stamp duty or capital gains tax are other possibilities if the council tax option is ruled out. Seems pretty certain then we all know what he is going to do in next months budget!

Either way someone will pay, and l would not take bets if, if l were a betting man, it will not be the beleaguered tax payer, ever willing to shoulders this governments, ineptitude!

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