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Budget 2011: Green investment bank gets £2bn extra funding

Chancellor George Osborne has announced an additional £2bn in funding to establish a green investment bank.

Prior to today’s Budget address, the Government had already committed £1bn in funding.

Osborne has now pledged a further £2bn in funding towards the bank, which will be underwritten by the Treasury.

He says this additional funding will allow the green investment bank to start borrowing and investing a year earlier than planned, in 2015/16.


£1.9M loss for Savills FS arm

The financial services division of Savills made a loss of £1.9m in 2010 after a loss of £2.9m in 2009. The financial services arm saw a 16 per cent drop in revenue, from £11.2m to £9.4m. But group profits leapt by 173 per cent to £36.8m from. Group revenue rose by 21 per cent to […]


Budget 2011: Protection tax reform could push up premiums by 30%

Protection premiums could rise by up to 30 per cent following the Government’s move to remove protection business from the income minus expenses basic life insurance tax regime. The change, which HM Revenue & Customs has already consulted on, will be effective from January 1, 2013. RGA managing director David Gulland (pictured) says the cumulative […]

Nest confirms default investment strategy

Nest’s default investment fund will target long-term returns of CPI plus 3 per cent following the national scheme’s decision to adopt a low-risk investment strategy. The Government-backed pension scheme also confirmed details of the additional fund choices available to members. These will include a higher risk fund, a lower growth fund, an ethical fund, a […]

Hoban calls for sense on Solvency II

Treasury financial secretary Mark Hoban says Solvency II negotiations have “a long way to go” as the Government attempts to iron out issues ahead of the December 2012 deadline. In a speech to the Association of British Insurers last week, Hoban said any changes to the rules should be “proportionate” and avoid placing “undue burdens” […]


Case study: administration — implementing a management log

Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.


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