Posts Tagged ‘coalition Government’
Austerity And Corruption Are On The Verge Of Killing The Czech Government
We’re seeing a big day for European upheaval today, what with the French elections and the turmoil in Holland.
There’s another country you should be keeping an eye on — The Czech Republic.
Bloomberg reports that the three ruling parties have agreed to dissolve their coalition government before April 27. Deputy Premier Karolina Peake has til the end of today to find 10 lawmakers to join her in a new government, or the country will be forced to hold snap elections.
Outside of parliament, the situation is tense. On Saturday the country is saw its largest protests since the end of Communism, with some 100,000 taking to the streets to call for an end to austerity measures, Lidovky.cz reports.
The coalition’s troubles began when Vit Barta, a senior member of VV, the smallest ruling-coalition member, was convicted in a bribery case. Barta was accused of paying a colleague $26,500 to support him and end negative attacks against him.
Initial reports suggest Peake has found enough support to survive. We should know by the end of the day.
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Not all Victorians were visionary, Mr Cameron
I’m getting fed up with the UK coalition government’s ritual invocation of Victorian values or visions whenever it wishes to urge a put-upon populace to new heights.
In David Cameron’s latest speech, the prime minister calls on the spirits of Brunel, Telford and Stephenson, to inspire new infrastructure investment in the UK, from nuclear energy to new towns. He accompanies nostalgia for the Victorian era with the inevitable negative comparison with other nations’ superior efforts: the French, Dutch and Swiss have cheaper, less crowded railways than the British; the South Koreans have faster broadband; the Indians have newer nuclear power stations; and the Chinese have bigger airports.
Chancellor determined to cut 50p tax rate
The question of whether or not to scrap the 50p income tax rate is dividing the coalition government in the run up to the budget on 21 March.
Chancellor of the Exchequer George Osborne is determined to reduce income tax on earnings over £150,000, but the proposal has been met with disapproval by Lib Dem leader Nick Clegg.
The 50p rate was introduced by Gordon Brown’s Labour government in 2010 as a way of boosting government revenues during the recession.
Mr Osborne insists it was meant to be a temporary measure and is seeking clarification on how much it is actually raising in tax.
The 50p rate has been criticised for deterring entrepreneurship and investment.
Deputy PM Nick Clegg previously said that scrapping the 50p rate could destroy public support, but the Lib Dem’s position seems to have shifted slightly.
The party is now saying that it is not ‘ideologically wedded’ to keeping the 50p rate as long as it is replaced with another tax on wealth.
Suggestions include a tax on properties worth more than £2m, or a new ‘super’ council tax band for high-value properties.
Mr Clegg is also pushing for the income tax personal allowance to be raised more quickly than planned, to help low-income households.
The leaders must resolve the issue quickly so that the Office for Budget Responsibility has the information in time to make its economic forecasts.
The run up to the budget has also seen business leaders criticise the Government’s growth plans.
Speaking at the British Chambers of Commerce conference Willie Walsh, chief executive of International Airlines Group, said that the coalition government changed its policy for growth “every other week”.
At the same conference Stephen Hester, chief executive of the Royal Bank of Scotland, said that companies in the UK lack the confidence to invest and called for a ‘circuit-breaker’ to restore confidence.
The World’s Biggest Advertising Company Is MovIng Its HQ From Dublin To London
THE WORLD’S BIGGEST advertising group is to move its headquarters from Dublin to London over new tax rules for businesses.
WPP confirmed today that the group will move as soon as the Conservative-led coalition in Britain passes legislation which will change the taxation of profits earned overseas by UK businesses.
CEO Martin Sorrell said he was “delighted” about the move and said that he expects it to happen “soon”. A spokesperson for WPP told TheJournal.ie today that there is as no time scale for the move yet.
The spokesperson wouldn’t comment on whether jobs will be lost as a result of the move. The company is believed to employ a small number of full-time employees in the Dublin office.
The company moved its official corporate headquarters to Ely Place in Dublin city centre in 2008 due to the taxation laws in Ireland for overseas companies. Sorrell has repeatedly fought to ensure that the company pays minimal levels of corporation tax.
“As soon as the legislation is pased, as soon as we can have a shareholder’s meeting to approve it, we’ll be back [in London],” Sorrell told BBC Radio 4′s Today programme earlier today.
The company said today that it now believed that the British coalition government had succeeded in giving certainty to businesses on the tax regime in the UK, which had encouraged WPP to relocate. Sorrell had repeatedly called on the British coalition government to reassure big businesses on the “double” taxation of overseas profits.
The group announced today that its profits are up 20 per cent to £1 billion (€1.2 billion).
Listen to Martin Sorrell’s full interview on BBC Radio 4′s Today programme here >
Gaming company Blizzard to cut 200 jobs in Cork >
EU leaders head to Brussels for two-day economic summits >
This post originally appeared at TheJournal.ie
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See Also:
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GREECE: Debt Deal Talks Will Continue Through Monday
ATHENS, Greece (AP) — Leaders of parties supporting Greece’s coalition government say crisis talks for huge new debt deals will continue Monday.
Coalition backers held a five-hour meeting late Sunday with Prime Minister Lucas Papademos to hammer out a deal with debt inspectors representing eurozone countries and the International Monetary Fund — but again failed to reach an agreement.
Greece is racing to finalize austerity reforms needed for a new euro130 billion ($171 billion) without which it would face bankruptcy in late March.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.
ATHENS, Greece (AP) — Leaders of parties supporting the Greece’s coalition government say crisis talks for massive new debt deals will continue Monday.
Coalition backers held a five-hour meeting late Sunday with Prime Minister Lucas Papademos to hammer out a deal with debt inspectors representing eurozone countries and the International Monetary Fund — but again failed to reach an agreement.
Greece is racing to finalize austerity reforms needed for a new euro130 billion ($171 billion) without which it would face bankruptcy in late March.
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See Also:
- Here’s The Real Problem With Getting The Greek Deal Done
- Emergency Meeting Called In Greece, New Sign Bailout May Be In Trouble
- REPORT: ECB Involvement Is Now Make Or Break Condition Of Greece Debt Deal