Up to 2,500 face the axe at Northern Rock as the bank is set to half its
balance sheet from it current £113bn, curtailing its mortgage-lending business.
The moves come as the bank makes efforts to repay government’s £24bn support
from the taxpayer which saved the complete collapse of the bank last September.
At the same time, Brussels is to probe the aid package presented by Darling,
which is likely to last several months.
The EU Competition Commissioner, Neelie Kroes, is expected to approve the
package on condition that the bank weans itself off the government’s subsidy and
downsizes so as to avoid distortion of competition in the banking sector.
Does Darwin's theory apply to taxation? Colin ponders...
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy