Finance Matters

Posts Tagged ‘cut’

Influential think tank, the Organisation for Economic Co-operation and Development (OECD), has cut its forecast for UK economic growth. The Organisation estimated growth this year of 1.5%, down from its November prediction of 1.7%. The reduction was attributed to Government spending cuts, which will hamper growth. However, the OECD described the cuts as “ambitious and [...]

New Zealand’s central bank has today lowered interest rates as the economy attempts to rebuild itself after last month’s earthquake in Christchurch. Earlier this month, the country’s Finance Minister Bill English warned that the earthquake will impact negatively on economic growth. Mr English believes the 6.3 magnitude quake could push the nation into recession as [...]

Despite the government’s rhetoric on big society, it has announced £11 million of spending cuts to the department responsible for social enterprise.
The Office for Civil Society has had its 2010/11 budget cut to £136.9 million, down from £147.9 million.
Nick Hurd, minister for civil society, said: “Every area of government is looking at reducing costs and [...]

Credit rating agency Moody’s Investor Service has today cut Portugal’s debt rating by two notches, sending the euro down against the dollar and the pound.
Moody’s downgraded Portugal’s rating by two notches to A1, citing weak growth and suggesting it may need fresh austerity measures next year to reach fiscal targets.
However, in a statement, Portugal’s finance [...]

A report by the Institute of Practitioners in Advertising (IPA) and accountants BDO has found companies slashed their marketing budgets in the April to June period.
The cut backs were due to increasing concern among companies that the economy will see slower growth in the second half of 2010.
The survey of 300 British companies for the [...]