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Budget 12: Osborne pledges to increase homebuilder fund

Chancellor George Osborne today confirmed the Government is to expand the Get Britiain Building fund which providing money for construction firms by £150m.

Giving his Budget speech today, Osborne said the fund would be expanded to provide extra finance to companies constructing new build homes.

Before the Budget, around £400m was earmarked for construction firms in order to help them build new homes.

Osborne said: “The New Buy scheme that we introduced last week uses the Government’s balance sheet to help those who cannot afford the larger deposits that some mortgage companies are now demanding.It comes alongside a new, reinvigorated right to buy.

“And to ensure that there are new homes to buy, we are today expanding the Get Britain Building fund that provides upfront finance to construction firms.”


Advisers face £60m levy as claims on MF Global reach £27m

Investment intermediaries face a £60m Financial Services Compensation Scheme interim levy, with MF Global claims alone expected to account for almost £27m. The total compensation costs of the annual levy and the interim levy for 2011/12 are £82m. Fund firms will not have to pay an interim levy as the cost of claims will not […]

Budget 12: Child benefit threshold increased to £50,000

Chancellor George Osborne has revealed child benefit payments will start to be reduced for families where there is a person earning over £50,000. Giving his Budget statement today, Osborne said families where there is a wage earner with a salary of £50,000 are to lose 1 per cent of the benefit for every £100 that […]

Pimco warns of “second Greece” in Portugal

Investment manager Pimco has warned that Europe could face a “second Greece” in Portugal as it continues to struggle with the debt crisis. Pimco chief executive Mohamed El-Erian believes Portugal may need a second rescue package if the original £56bn package fails. Speaking to Der Spiegel, he said: “Unfortunately, that is how it will be. […]

TPR says providers won’t breach rules on auto-enrol data

The Pensions Regulator has moved to allay provider fears over data protection issues ahead of automatic enrolment. Some insurers are concerned that they would be unable to comply with the regulator’s requirement to hold personal information from members who have opted out of a pension scheme because this could breach data protection rules. Aegon regulatory […]

What can drive the India story forward?

By Kunal Desai, head of Indian equities, Neptune Since the election of Narendra Modi as prime minister in May 2014, Indian equities have gone on to outperform both developed and emerging markets. A busy period of governmental and economic reforms, a lower oil price and falling political risk have been the primary drivers over this […]


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