Treasury plans to reintroduce Lifetime Isa withdrawal penalty in April

Campaigners have reacted with dismay to the news the Treasury does not plan to reduce the Lifetime Isa withdrawal penalty for another 12 months. The news means aspiring first-time buyers will again be charged their own money from April to raid their house or retirement deposits if they run into financial difficulty and need to … Read more

Another boost for savers and Treasury: Natwest brings back divi

Natwest becomes latest bank to bring back its dividend – despite setting aside £3.2bn to cover bad loans and recording a £351m loss last year By Lucy White For The Daily Mail Published: 21:57 GMT, 19 February 2021 | Updated: 22:17 GMT, 19 February 2021 Change of direction: Natwest chief executive Alison Rose   Natwest … Read more

Treasury in Teesside is a ‘golden opportunity’ to level up the North

Treasury campus in ‘overlooked’ Teesside is a ‘golden opportunity’ to level up the North, say business leaders By Matt Oliver For The Daily Mail Published: 22:06 GMT, 17 February 2021 | Updated: 22:06 GMT, 17 February 2021 More than 100 business leaders have called for the Treasury’s new northern campus in ‘overlooked’ Teesside. In a … Read more

Lockdown costs the Treasury £2.9BILLION in lost air passenger duty

The extent of the damage done by the coronavirus crisis to Treasury coffers was today laid bare after official data showed air passenger duty as well as income tax and VAT receipts have been hammered during the pandemic.  Office for National Statistics numbers highlighted the devastating impact of travel restrictions as fewer air passengers meant the … Read more

Bitter battle breaks out over plans for Treasury North

Row breaks out over Treasury’s plan to set up Northern base after top civil servants accused of ‘Yes, Minister’ style stitch-up Rishi Sunak has proposed moving 800 officials to the hub – dubbed Treasury North – with locations thought to include Leeds, Teesside and Newcastle  But top civil servants have been accused of trying to … Read more

Treasury may try to rescue summer music festivals

Treasury could step in to support some of this year’s biggest summer music festivals after organisers struggle to get cancellation insurance By Emma Dunkley, Financial Mail On Sunday Published: 21:50 GMT, 23 January 2021 | Updated: 21:50 GMT, 23 January 2021 The Treasury could step in to support some of this year’s biggest summer music … Read more

Treasury says it has ‘no plans’ to lower VAT on energy bills

Treasury says it has ‘no plans’ to lower VAT on energy bills, despite promises to scrap the tax after Brexit By Helen Cahill, Financial Mail On Sunday Published: 21:50 GMT, 16 January 2021 | Updated: 22:05 GMT, 16 January 2021 The Treasury has said it has ‘no plans’ to lower VAT on energy bills, despite … Read more

Treasury mandarin behind coronavirus bailouts reappointed for another five years

End of the Cummings purge? Treasury mandarin behind coronavirus bailouts is reappointed for another five years despite claims he topped Whitehall ‘hit list’ Sir Tom Scholar has been reappointed as permanent secretary to the Treasury The mandarin was said to have been on a No10 Whitehall ‘hit list’ last February Dominic Cummings quit Downing Street … Read more

One in five train services could be AXED next year as treasury tightens the purse-strings

One in five train services could be AXED next year as treasury tightens the purse-strings after propping up the network during Covid Rail capacity could be slashed to 80 per cent of pre-pandemic service levels One of many measures being considered to reduce strain on public purse   Rishi Sunak reported to ahve approved £2.1billion to ensure … Read more

Boost for smaller banks as Treasury names Keith Skeoch for major review

Boost for smaller banks as Treasury names City veteran Keith Skeoch for major review Keith Skeoch will lead a review of banking regulations  He will revisit the stringent rules put in place to rein in banks after 2008 crisis The review is also expected to form part of plans to boost the sector after Brexit  … Read more