Chancellor George Osborne says the government will not need to raise taxes to meet the deficit reductions after the next election, the BBC reports.
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The Office of Fair Trading (OFT) has identified several areas of concern in the pensions market and is focusing its investigation on adviser-commission and two-tier member charging structures.
The abolition of rebates and pressure on margins could double the break-even point for platforms from £20bn assets under administration to £40bn resulting in major market consolidation, according to Deloitte.
Andre Tyrie, the MP behind radical banking reforms, has condemned the final version of the plans saying the have been watered down and are now 'virtually useless'.
HM Revenue & Customs (HMRC) is losing 60% of appeals against its VAT decisions because it is under pressure from the Treasury to take a more aggressive approach, according to a law firm.
The National Employment Savings Trust (NEST) has picked Legal & General Investment Management to run two real estate mandates.
The FTSE 100 dropped sharply on Thursday morning following the wider market sell-off, while gilt yields spiked to their high level in over a year, after Fed chairman Ben Bernanke said QE would be slowed later this year.
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