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The last chairman of the Federal Reserve to move from the US central bank to the US Treasury – G William Miller – did so at a moment of turmoil. In the final years of Jimmy Carter’s presidency, inflation was out of control, unemployment rising and the dollar falling like a stone. Miller, a former … Read more
President-elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen to serve as treasury secretary, a pivotal role in which she would help shape and direct his economic policies at a perilous time, according to a person familiar with the transition plans. Yellen, who is widely admired in the financial world, would be the … Read more
The cost of face masks is set to rise by a fifth from next week as the Government comes under fire for refusing to extend the VAT freeze on PPE. Treasury officials have told retailers that the six-month VAT holiday on personal protective equipment would come to an end on October 31. The 20 per … Read more
Rishi Sunak is working on package to help companies stuck in Tier Two coronavirus lockdown, says Treasury staff The Chancellor is considering ‘range of measures’ to help restricted businesses Rishi Sunak underlined the economic damage caused by Covid-19 restrictions Finance officials have predicted the GDP will be 3 per cent smaller in long term By … Read more
Defence minister Johnny Mercer calls on Treasury to fork out thousands of pounds for hero Commonwealth veterans who are forced to pay for visas to stay in the UK Defence minister Johnny Mercer wants to help Commonwealth military veterans Commonwealth citizens can apply for indefinite leave to remain after four years However, they face bills … Read more
Rishi Sunak is drawing up plans for a new German-style job retention programme to replace the government’s outgoing coronavirus furlough scheme, reports suggest. The Chancellor is under mounting pressure from business chiefs and politicians to find a new way to avoid the threat of mass layoffs when the government’s £39billion furlough scheme ends next month. … Read more
10,000 retail jobs could face the axe ‘overnight’ unless urgent action is taken, trade coalition warns the Treasury Boots and Debenhams are said to have ‘bombarded’ the Treasury with warnings Economists warn that jobless figures could soar above three million this winter Rule of six has raised fears that even Christmas celebrations will be limited By Neil … Read more
Treasury talks with dozens of retail chiefs over future of high street, raising hopes Chancellor Rishi Sunak could step in to avert deepening crisis By Neil Craven And Harriet Dennys, Financial Mail On Sunday Published: 21:50 BST, 12 September 2020 | Updated: 22:24 BST, 12 September 2020 The Treasury has held talks with dozens of … Read more
Chief Secretary to Treasury Stephen Barclay says employees SHOULD return to offices next week amid conflicting messages from ministers as ‘government advertising campaign to get millions back their desk is set to be ditched’ Mr Barclay said Government was ‘keen’ for people to stop working from home The comments followed conflicting signals on the issue … Read more
Treasury says widespread evasion and avoidance of business rates eating into £25bn a year raised through the tax By Dan Atkinson, Financial Mail on Sunday Published: 21:48 BST, 29 August 2020 | Updated: 21:48 BST, 29 August 2020 Widespread evasion and avoidance of business rates is eating into the £25billion a year raised through the … Read more