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Tories pledge 5-year ‘tax lock’

The Conservatives will introduce a five-year “tax lock” on income tax, VAT and national insurance if they win the general election. Prime minister David Cameron is to pledge legislation within 100 days of assuming office to ensure the taxes do not rise in the next Parliament, the BBC reports. Cameron will say: “This is the clearest choice […]

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Wonga records pre-tax loss following £35m customer redress hit

Controversial payday lender Wonga has reported a pre-tax loss of £37.3m for 2014 after taking a £35m customer remediation hit following an intervention by the FCA. The firm’s full-year results for the 12 months to 31 December 2014, published today, reveal revenues plummeted 31 per cent year-on-year, from £314.7m to £217.2m, driven by a “significant […]

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HSBC to consider ditching UK headquarters

HSBC chairman Douglas Flint has promised shareholders the bank will re-evaluate the location of its headquarters. Speaking at a shareholder meeting in Hong Kong ahead of the bank’s London annual general meeting on 5 May, Flint was asked by investors about the location of the bank. According to reports, Flint said: “We are beginning to […]

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