Key Quotes - Money

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Last update: Wednesday 25th March




Commons Leader Harriet Harman said yesterday she was “happy to condemn” banks that had been bailed out by the state and still expected to “award themselves massive bonuses”. The Government has warned it might veto the size of the Royal Bank of Scotland’s bonus pool, thought to have increased by 50% to £1.5 billion. Ms Harman said there should be “restraint on bonuses” and the government had been “clear” on that.
Money	The Sentinel – 4th December 2009



Gordon Brown has ditched plans to scrap tax relief on childcare vouchers after pressure from Labour backbenchers. Mr Brown had said the relief would be phased out from 2011 to fund free nursery places for two-year-olds. Instead, tax relief on vouchers will be applied at the basic rate of 20%.
Money	The Sentinel – 4th December 2009



Aid agencies have welcomed Gordon Brown’s pledge to ensure the UK government spends 0.7% of national income on international development aid by 2013.
Money	Christianity – December 2009



Britain’s five biggest banks have signed up to new internationally-agreed curbs on bonuses, it was announced last night. Chancellor Alistair Darling welcomed the decision by the banks to accept the principles agreed last week at the G20 summit in Pittsburgh. The five, HSBC, Barclays, Lloyds, RBS and Standard Chartered, have committed to implement the new rules, intended to link bonuses to long-term performance, on payments for 2009.
Money	The Sentinel - 1 October 2009



The cost of subsidising the pensions of the richest 1% of the population is more than twice as much as for nurses, teachers and civil servants, according to a new report today. The TUC said taxpayers were paying £2.50 each on private sector “fat cat” pensions for every £1 on pay outs to retired public servants. Tax relief was “heavily skewed” towards the better off, the report said, with 60% of total relief going to higher rate taxpayers, including 25% – almost £10 billion a year – going to the top 1% of earners.
Money	The Sentinel - 9 September 2009



Prospects for the UK have worsened while other nations begin an earlier than expected recovery from recession, an economic body warned. The Organisation for Economic Co-operation and Development said the UK economy would shrink by 4.7% this year – worse than its 4.3% forecast in June. Its UK verdict is worse than the 3.5% decline predicted by the Treasury, and contrasts with the improved prospects for other major nations.
Money	The Sentinel - 4 September 2009



Councils have been accused of spending millions of pounds of taxpayers’ money on fighting legal battles to stop low-paid women winning equal pay. The union said a survey of 50 authorities in England and Wales found more than £11.5 million had been spent to “obstruct” equal pay, and claimed that the figure was “the tip of the iceberg”. Dave Prentis, Unison’s general secretary, said the figures were a “national disgrace”.
Money	The Sentinel - 12 October 2009



A report calculates that a single person in Britain needs to earn at least £13,900 a year gross to afford a basic but acceptable standard of living. A couple with two children need to earn £27,600. The cost of a minimum household budget has risen by about 5% for most families.
Money	Evangelicals Now- August 2009



The Royal Bank Of Scotland has promised to consider proposals for a low-interest credit card for poor people, after a meeting with Jewish, Christian and Muslim leaders in Europe. The leaders from London Citizens, a community organisation of more than 130 civic and religious groups, want an end to high lending rates which, they say, cripple poor people and bind them into un-payable debts.
Money	Salvationist- August 2009



The current global economic crisis shows that capitalism without ethical grounding does not work according to the Vatican. Christians should keep this in mind whether they are business people, policymakers or simply consumers, a top Vatican economist has said. Thomas Han Hong-soon of the Vatican Prefecture for Economic Affairs said that “the root of this crisis is a moral deficit” and that when it comes to business, Christians have not always followed the principles of charity and justice found in the Gospel.
Money	The Universe- August 2009



The Bank Of England has warned the banking sector could hamper recovery from the recession as it pumped an extra £50 billion into the flagging economy. The surprise move – taking efforts to boost the money supply to £175 billion – appeared to pour cold water on hopes of a quick recovery from the recession. The Monetary Policy Committee (MPC), which left interest rates at a 0.5% record low, saw some hopeful signs but flagged up lower lending levels – with banks making more profits on the loans they are receiving.
Money	The Sentinel- 7 August 2009



A plasterer fears he could lose his home unless the tax office pays back £2,000 it owes him. Struggling Nigel Hampton says he can not afford to tax and MOT his work van without a tax rebate he has been due for two months. HM Revenue and Customs (HMRC), of which the former Inland Revenue is party told him the £2,108 payment could take another two months to process because of a backlog in the system.
Money	The Sentinel- 11 August 2009



The scale of the devastation wreaked on the high streets by the recession was revealed today as a report suggested the number of empty shops has doubled in some areas. Vacancies have stroke England and Wales with varying degrees of ferocity as northern regions were hit much harder than elsewhere according to researcher Local Data Company (LDC). The report indicated that the recession had hit independent stores hardest.
Money	The Sentinel- 31 July 2009



The Prince of Wales cost the taxpayer almost 25 per cent more last year, his accounts have revealed. Money from Parliament’s grants-in-aid and Government departments increased his costs by more than £500,000 from £2.45 million to £3 million. Two long-haul foreign tours, which came to more than £1 million in total, were mostly responsible. Taxpayers pay for his official air and rail travel, residences and communication.
Money	The Sentinel- 24 June 2009



The Queen looks set to ask the Government for a significant increase in her Civil List as annual accounts revealed yesterday that her reserve funds will run out by her Diamond Jubilee in 2012. During the last financial year, the cost of keeping the monarchy increased by £1.5 million to £41.5 million. The Civil List pays for the running of the Royal household.
Money	The Sentinel- 30 June 2009

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