According to sources, the prices of petrol and diesel have the reached their highest points for the first time ever. It is being expected that the prices will increase further in the coming months.
A report revealed recently claims that the proposal to remove a loophole brought in by Chancellor George Osborne in his budget is largely risking the industry across the UK, as per Britain's self storage firms, since it allows them to avoid paying VAT.
The Government is running, in fact crawling, through an unprecedented dilemma, a major portion of which is down to the hidden price tag, in soliciting the private sector for funding the indispensible public infrastructure of the Great Britain.
The UK budget for 2011 has been released on Wednesday. In the budget, Chancellor George Osborne announced that a new bank will be launched next year to promote green investment.
Green investments are the traditional investment vehicles such as stocks, mutual funds in which underlying business is somehow involved in operations aimed at improving the environment
The main motive of the launch of the bank is to make green investment more attractive to increase its demand among people.
The wealthiest tenth of Britons will lose on average 3% of their net income due to the tax hikes and benefit cuts in April, leading economic think tank IFS said.
The higher rate tax threshold will be lowered from £37,000 to £35,001. The IFS claims that the new threshold will hit the wealthiest the most as they will lose 3% of the net earning, while other will lose merely 1%.
UK is in an urgent need to gradually seek to secure a consistent economic growth from financially poised situation; George Osborne was quoted as saying.
The chancellor's plan to achieve by sticking on to debt reduction, curbing corporate tax rates, and reforms to the health and education sectors. In addition, Osborne has urged firms to spend their cash reserves in a bid to boost the economic conditions.
Mr Osborne also told Davos delegates he was unhappy with UK GDP figures this week which showed a 0.5% contraction in the last quarter of 2010.
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