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Osborne promises July Budget for ‘working people’

Chancellor George Osborne is set to deliver his second Budget of the year on 8 July following the recent Conservative election victory.

Writing in The Sun earlier this month, Osborne pledged that the package of measures announced in the Budget would represent a “Budget for working people”.

The Treasury is yet to spell out how it will cut £10bn from the UK’s welfare bill out of the total £12bn that has been earmarked for cost savings.

Osborne said: “On 8 July, I am going to take the unusual step of having a second Budget of the year – because I don’t want to wait to turn the promises we made in the election into a reality… And I can tell you it will be a Budget for working people.”

In his last Budget, Osborne pledged to launch a Help to Buy Isa in order to help first-time buyers save for a deposit.



Leeds loosens interest-only criteria

Leeds Building Society has loosened its interest-only criteria and now lends up to 75 per cent LTV on a part and part basis. Previously the lender offered interest-only mortgages to a maximum LTV of 50 per cent. Now it will lend to 75 per cent LTV, with a maximum of 50 per cent LTV on […]


Research shows underuse of Help to Buy 2

The Help to Buy 2 scheme is operating at just over a tenth of its capacity, according to new research that has been unveiled by mortgage insurer Genworth. Chancellor George Osborne has pledged that the scheme could enable up to £130bn of lending over three years, which is equal to £43.3bn a year. However, Genworth’s […]


Ukip’s O’Flynn quits after his Farage attack

Ukip economics spokesman Patrick O’Flynn has stepped down after admitting he should not have criticised Nigel Farage in the aftermath of the general election. Farage quit as Ukip leader directly after the election, only to return three days later, bringing criticism from within his own party. At the time, O’Flynn described Farage as “snarling, thin-skinned […]


Paragon reports 65% increase in buy-to-let lending

Paragon Mortgages grew buy-to-let lending by 65.7 per cent in the six months ending 31 March 2015. Its half-yearly results show it lent £446.2m in the period to the end of March, up from £269m over the same period in 2014. The lender says it had a pipeline of £701.4m at the end of March […]

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.


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