Asda unveils £100m brand make-over

first_imgTuesday 21 September 2010 7:22 pm Share “Customers said they tasted the difference. This is a real watershed.” “No other retailer has moved so aggressively to seek not just the counsel but the consent of the very people who buy and eat their products.” More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com whatsapp whatsapp Show Comments ▼ KCS-content center_img Asda unveils £100m brand make-over by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Clarke, who took up his post in May, described how the taste tests had been held up and down the land – including in church halls – as he sought to emphasise the family nature of the company’s dealings. He repeatedly mentioned the word “quality” and said that it was just as important as keeping prices as low as possible. Clarke, formerly chief operating officer at the company, said Asda’s own brand, sandwiched as it is between the cheaper Smart Price brand and the more expensive Extra Special items, was losing its identity, despite still flying off the shelves. The company gave no projections on how many extra sales they hoped to generate through the re-launch but said the taste tests had revealed a wealth of information about UK consumers – including the fact they like toffee rather than chocolate in their desserts and that spicy jalapeno hummus is not to the liking of most shoppers. A massive TV advertising campaign is due to start next week, but will not feature any famous faces. That is in-keeping with Clarke’s constant refrain that: “We are putting the people of Britain at the centre of this.” The Chosen by You range hit the shelves in Asda’s 377 stores yesterday. While one executive said the project was aimed at resurrecting an “invisible brand”. Clarke will be hoping the chain can turn the re-branding into something that can keep the tills ringing as well as being given plaudits for quality, which he also seeks. THE unveiling of Asda’s Chosen By You range saw chief executive Andy Clarke take centre stage as he claimed the £100m project would be “game changing” because it was the first time a supermarket had put so much time and money into updating its mid-range products.More than 40,000 consumers across the UK took part in taste testing as the supermarket giant sought to add some extra flavour to its own label food and drink brand of 3,500 products. The current range is worth sales of around £9bn a year already but the top brass at Asda believes it has more potential and was in need a of a massive overhaul. After a nine month project, the company gave birth to 500 new products as well as recipe tweaks to others and a re-think on packaging which saw an army of designers trying to make the range as attention grabbing as possible. “This is a game changing imprint because it gives our customers control,” Clarke said at the launch in Marylebone. Tags: NULLlast_img read more

IDS offers lifeline to business start-ups

first_img IAIN Duncan Smith yesterday outlined plans to give grants to unemployed people who want to set up their own businesses, in a bid to boost the number of first-time entrepreneurs.The welfare secretary said the New Enterprise Allowance (NEA) scheme would offer financial support and business mentoring to enterprising people who are unemployed.He said: “If you have been unemployed for six months and want to start your own business we want to support you. We will provide business mentoring and a financial package worth up to £2,000 to get your business up and running. We want to see 10,000 new small businesses by next year.”Members of the NEA scheme will get access to a low cost loan of up to £1,000 to help with start-up costs, as well as a grant worth up to £1,000, paid out in weekly instalments for six weeks.A network of successful local businesses will be asked to provide mentoring and support through a website, described as “online dating for entrepreneurs” by an aide to Duncan Smith.Duncan Smith made the announcement as he unveiled the “biggest reform of welfare in a generation”. A new Universal Credit will replace the myriad of benefits that are currently on offer, including housing benefit and job seekers’ allowance. Officials in the Department of Work and Pensions estimate there are 31 out-of-work benefits currently available, rising to 51 if one counts supplementary and top-up benefits.Crucially, the Universal Credit will eventually be available to people in low-paid employment as well as the unemployed, to ensure that no-one loses out when they take a job.But Duncan Smith had to make big concessions to convince the Treasury to give the green light to his reforms. The Universal Credit will now be phased in over ten years, rather than five, while there have been big cuts to the overall benefits bill, including the scrapping of child benefit for higher rate taxpayers.He also pledged a clampdown on benefit fraud would not penalise those in genuine need. He said: “I say to those… who are genuinely sick, disabled or are retired: you have nothing to fear. We will crack down on fraud and help able people off welfare. This means we will have enough resources to provide peace of mind to the very vulnerable.” Tuesday 5 October 2010 8:21 pm Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo Show Comments ▼ IDS offers lifeline to business start-ups Tags: NULLcenter_img whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Share whatsapp KCS-content last_img read more

Actelion shares jump as market looks for next takeover target

first_img Share More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com whatsapp Actelion shares jump as market looks for next takeover target Tags: NULL whatsapp Thursday 14 October 2010 9:07 pm SHARES in Actelion jumped again yesterday on new market talk the Swiss biotech group could be the next bid target in the pharmaceuticals sector.Traders said markets were speculating that GlaxoSmithKline, which has a drug partnership with Actelion, could offer 72 Swiss francs (£47.30) per share. Sanofi-Aventis launched a $18.5bn hostile bid for US biotech Genzyme last week, sparking chatter of more M&A in the sector. Actelion shares, which had lost nearly a quarter of their value this year, closed up 6.6 per cent at 53 francs, outperforming a 0.5 per cent weaker European healthcare sector index. The stock has gained over 30 per cent this month.Analysts have cited Amgen, Roche, BristolMyersSquibb, AstraZeneca, Bayer and Novartis as possible buyers. KCS-content Show Comments ▼last_img read more

L&G expects to meet cash aim as revenues rise

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorythedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solution UK Insurance group Legal & General (L&G) said it was on target to beat its cash generation target for the full-year on the back of cutting costs and higher sales for the first nine months of the year.Cash revenues rose 14 per cent in the first nine months to 30 September to £526m compared to £461m a year earlier, leaving L&G on course to meet its £600m target for the full-year, it said yesterday. It added it generated £168m in cash in the third quarter.Worldwide sales of £1.3bn for the first nine months were 27 per cent higher than at the same time last year and nearly as high as the sales figure for the whole of 2009, L&G said.Meanwhile L&G Investment Management (LGIM) increased assets under management (AUM) and diversified its revenue. In the first nine months, 18 per cent of LGIM gross sales were to non-pension clients and 13 per cent of gross sales were to international clients. The results come after L&G published most of its sales figures for the third quarter on 22 October, two weeks early, after they were e-mailed to analysts by mistake.Tim Breedon, group chief executive, said: “We are optimistic about the group’s medium term growth prospects. We see strong organic growth opportunities across our risk, savings and investment management franchises where we have built market leading positions.” L&G said it had scope for further dividend increases, building on a 33 per cent hike in 2009 and a 20 per cent rise earlier this year. Show Comments ▼ whatsapp KCS-content whatsapp Sharecenter_img L&G expects to meet cash aim as revenues rise Tuesday 9 November 2010 8:35 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULLlast_img read more

3i confirms £130m Stork buy

first_img More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Tags: NULL Tuesday 23 November 2010 9:08 pm Private equity firm 3i Group will buy Netherlands-based materials testing business Stork Materials Technology for £130m, the company confirmed yesterday. The firm said it hopes to grow as more governments bring in quality testing rules. 3i has already invested in Trescal, a European calibration and measurement services firm, and Inspectorate, a testing and inspection company, which it sold to French certification company Bureau Veritas earlier this year. whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndocenter_img Show Comments ▼ 3i confirms £130m Stork buy whatsapp Share KCS-content last_img read more

British economy has come a long way

first_img British economy has come a long way whatsapp IT is amazing how narrow our escape from disaster has been. Yesterday, on a day when the markets continued to worry about the Eurozone, the Office for Budget Responsibility’s long awaited forecasts were reassuringly benign. Unexciting, sure, and an exercise in sophisticated guesswork, evidently, but that was exactly what the doctor ordered. A year ago, it looked as if we would be the ones begging the IMF for money; no longer.There are, of course, real similarities between the UK and those parts of the Eurozone that are in crisis: UK?house prices will fall 3.1 per cent next year; the public sector will shed hundreds of thousands of jobs over the next few years (albeit fewer than previously expected); consumer spending will grow by less than GDP; and the budget deficit remains extremely large. But the big difference is that the UK appears on course to resolve its budget deficit and has very little chance of suffering another recession, thanks in the most part to the coalition’s policy of austerity. It is good news that the commentariat has moved away from its irrationally ultra-pessimistic phase of just a few weeks ago. At the time, most journalists (albeit not at City A.M.) were inserting the world “double-dip” in everything they wrote and the Labour Party was openly predicting the end of civilisation as a result of the coalition’s cuts. Since then, sanity has returned, partly because it is obvious that modest growth and job-creation has returned, partly because the Labour party has nothing to win from endlessly crying wolf and partly because the crisis all around us is unarguable proof that belt-tightening is not optional when budget deficits are out of control.The growth and borrowing numbers from the OBR are highly plausible. They may turn out to be a bit too high – or a bit too low – but they are a perfectly sensible guesstimate. GDP growth this year has been revised from 1.2 per cent to 1.8 per cent; having already created several hundred thousand jobs this year, the private sector is forecast to add a total of 1.5m by 2015, offsetting the 330,000 or so to be lost in the state sector. It has done the OBR’s credibility as an independent force (if not as an accurate forecaster) a world of good to have so badly under-estimated growth for this year. The big story of 2010 is how well the UK has done and how it has outperformed what many were predicting.Growth for next year is now seen at 2.1 per cent; for 2012, it is expected to come in at 2.6 per cent. All highly reasonable figures. The OBR’s verdict remains that the cyclically adjusted current budget will be in surplus in 2014-15, a year ahead of schedule. The forecast may be right – or it may turn out to spectacularly wrong in the event of a catastrophe abroad. But the fact that a relatively benign set of predictions from the UK’s new official forecaster haven’t been laughed out of town shows just how far the British economy has come over the past year. WE NEED YOUR HELPCity A.M.’s annual readership survey is upon us again. This is a vital way for us to find out what you, our readers, really want so that we can improve your paper further. So please help us. Everybody who fills in the survey will be entered into a draw to win a trip for two to a Sandals luxury resort in St Lucia – and there will also be Bollinger to be won. Please turn to p9 and www.cityamsurvey.com – many, many thanks. [email protected] Show Comments ▼ KCS-content Share whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesNoteabley25 Funny Notes Written By StrangersNoteableyHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Monday 29 November 2010 9:01 pm Tags: NULLlast_img read more

Manufacturing exports must rise, says CBI

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Center KCS-content UK manufacturing exports must be upscaled dramatically to keep pace with other OECD countries, industry lobby group the CBI warned today.Exports of manufactured goods are growing at just 4.8 per cent a year, less than half Germany’s 10.3 per cent rate, when manufacturing should be at the forefront of UK economic development.Policy support is needed to help UK manufacturers become more productive, more innovative and better exporters, it said in a new paper outlining its recommendations ahead of the publication of the government’s manufacturing framework shortly.“The government must act fast,” said John Cridland, CBI director-general designate. “It should build on the sector’s strengths, work with business to harness its innovation, and create a tax and regulatory environment that helps UK manufacturers drive up growth in productivity and exports.” More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com whatsapp Manufacturing exports must rise, says CBI center_img Share Show Comments ▼ Sunday 5 December 2010 11:11 pm whatsapp Tags: NULLlast_img read more

Morale disappearing in Japan

first_img whatsapp KCS-content Tuesday 7 December 2010 8:09 pm Morale disappearing in Japan Share Show Comments ▼ center_img Confidence in Japanese manufacturing has hit a seven month low, falling to +7 in Reuters’ Tankan survey released yesterday. Confidence is expected to drop to zero in three months’ time. The country’s prospects will be clearer today after the publication of data on Japanese bank lending and machinery orders. Read This NextFresh Fruit Sushi: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofA Once in 17 Years Cicada Event in Princeton, New JerseyFamily Proof by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald whatsapp Tags: NULLlast_img read more

Shock, horror: UK needs rich people

first_img BRITAIN doesn’t just need more jobs – over time, it also needs them to be better, higher productivity and hence higher paying jobs. This would be good for everybody: for the millions concerned and their families; and also for the public finances, which desperately need an overall rise in prosperity. Such a scenario is, however, easier outlined than achieved: it requires a rebirth of UK capitalism, including a long-term revolution in skills, attitudes, incentives and infrastructure. In the meantime, the Treasury’s self-interest is to encourage success, hard-work, innovation and risk-taking: to maximise tax receipts, it needs as many people as possible to feel motivated or able to try and climb the income ladder. It also needs policies to grow, rather than shrink, the number of people on very high incomes. Given that they pay much more tax than anybody else, in absolute terms and as a share of their incomes, this would help the public finances more than anything else. The problem, of course, is that the UK tax code, the regulatory system and the overall culture are now all rigged against advancement and effort at all income levels. Obvious, really. Except that the Labour Party, the unions, the Lib Dems and numerous commentators don’t see it that way: their dislike of the City is so intense that it trumps everything else. They refuse to admit that large incomes – and, yes, especially the dreaded bonuses – are an absolute boon to the Exchequer, with around half of the compensation paid out by big firms being gobbled up in tax. And the more tax raised, the less there is need for spending cuts.HMRC’s estimates for 2010-11 are that there will be 27.799m people earning between £6,475 and £50,000, 2.050m on £50k-£100k, 342,000 on £100k-£150k, 145,000 on £150k-£200k, 143,000 on £200k-£500k, 26,000 on £500k-£1m and 13,000 on £1m-above. In other words, out of 30.518m people eligible to pay direct taxation on their income, 29.849m (or 97.8 per cent) make less than £100k and 669,000 (or 2.2 per cent) make £100k or more. Just 327,000 people (1.1 per cent) will make at least £150k, the rate at which the 50p tax kicks in. The top 1 per cent of earners paid 11 per cent of income tax in 1976-77; by 1986-87, this had risen to 14 per cent. In 1999-2000, they paid 21.3 per cent; in 2008-09, 23 per cent and by the current fiscal year they are predicted by HMRC to pay 26.7 per cent of the total. All of which means that those 327,000 souls on £150k or more actually ended up paying over a quarter of income tax this year. It wouldn’t take too large an increase in their numbers to make a substantial difference to tax revenues; even a smallish reduction would finally bankrupt the UK.Comments by David Cameron yesterday suggest that he understands this. For the first time, he provided a balanced analysis of the crisis, while pledging not to “micro-manage” and “scapegoat” banks. He also rediscovered supply-side economics: “high rates of marginal income tax discourage people from working,” he said, pointing out that lower tax rates went hand-in-hand with the rise in the share of tax paid by the wealthy. Even those on the left who hate the rich, bankers and the City need to realise that they finance the public sector to a greater degree than ever before. The public finances will only truly recover when they – together with the rest of the population – begin to prosper [email protected] me on twitter: @allisterheath Share KCS-content Shock, horror: UK needs rich people Tags: NULL Show Comments ▼ whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was Famous, Now She Works In {State}MoneyPailBetterBe20 Stunning Female AthletesBetterBeTaco RelishOnly People With An IQ Of 130 Can Name These ItemsTaco RelishZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldNews SharperGrab A Tissue Before You See Richard Simmons At 72News SharperDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionAlphaCuteBizarre Hells Angels Rules, #10 Is MandatoryAlphaCuteJournalPregnant Woman Takes a Nap – You Won’t Believe What She Discovered When She WokeJournalNext RefinanceFishermen See Animal On Iceberg, But Then Look CloserNext Refinance Sunday 9 January 2011 11:22 pm whatsapplast_img read more

Real wages down across sectors

first_img Pay growth remained below inflation in both the commercial and government sectors last month, a survey revealed today. Pay in December increased by just 1.1 per cent in both sectors, combined to the same time in 2009, according to the VocaLink index. “Eleven months of elevated inflation and another VAT hike, combined with a sharp drop-off in take home pay growth, is bad news for UK households,” said Vocalink boss Marion King. Real wages down across sectors whatsapp whatsapp Share Wednesday 12 January 2011 7:29 pm KCS-content Show Comments ▼ More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Tags: NULLlast_img read more