Autumn Statement 2012: The headlines

George Osborne 150pxToday’s Autumn Statement by Chancellor. George Osborne, had the distinct feel of a full on Budget, with wide ranging measures that will affect pension savers, business owners, employees, and pensioners. Despite admitting that he will miss one of the key targets he’d previously set, the Chancellor began his Autumn Statement in a bullish fashion, saying: “Our economy is healing”, “Britain is on the right track” and “Turning back now would be a disaster.”...

Business: Funding for Lending scheme launched

A new government initiative to push banks into lending more money to businesses and consumers has started. Under the ‘Funding for Lending’ scheme (FLS) the Bank of England will make it easier for banks to borrow money at below market rates, with the intention that this will in turn, be lent on to businesses and individuals. The banks who receive the funds will be monitored to ensure that their lending increases. Lending to businesses The Bank says that the FLS is "designed to incentivise banks and building societies to boost their lending to UK households and non-financial companies"....