Given the obvious coverage of the current Gulf war in every newspaper, it is interesting to find a f...
Given the obvious coverage of the current Gulf war in every newspaper, it is interesting to find a financial story relevant to the times.
AFTER BATTLING for years to be recognized, unmarried partners of armed forces personnel killed in action will receive pension payouts, says the FT, signaling a major U-turn by the government.
Although it is uncertain what it actually means at this stage, the Ministry of Defence said it will make benefit payments to surviving partners of unmarried couples where there was "a substantial relationship".
Eligibility is likely to be judged on financial dependence or interdependence, whether the couple have children, shared commitments such as a mortgage, whether the claimant is the prime beneficiary of a will, or shared accommodation where they are not registered as a legal spouse.
Initial indications from the FT suggest this move is part of a wider review of pensions and compensation for the armed forces.
WILL HE, won't he, can Gordon Brown make the financial figures balance ahead of the Budget - well it seems not, judging by a report in the Guardian.
Gordon Brown is going to have to cut his forecasts for economic growth in next month's Budget after falling consumer spending, the manufacturing recession and rising public borrowing make the government's targets for economic growth and stability seem a little far fetched.
Indicators were seen yesterday as tax receipts for the first 11 months of the year are down around £3.1bn compared with the previous year, from £139.2bn to £136.1bn.
Figures released by Citibank yesterday suggest public borrowing for the year ahead could climb as high as £35bn, which is almost 50% higher than the chancellor's £24bn estimate.
ANOTHER REPORT in the FT suggests ministers would like more time and say in the establishment of tax laws, following discussion from a select committee of MPs.
The tax law review committee, chaired by Sir Alan Budd, argues parliament should be more active in scrutinising tax proposals and devote more debate to the issue.
AND HONDA is trying to raise the retirement age of workers at its British plant from 60 to 62, in the hope it will solve a £40m deficit problem in its pension fund, says the Times.
This is thought to be the first company in the UK to look at raising its retirement age to sort out its pensions deficit.
But this also comes at the point when Honda is trying to close its final salary scheme to new entrants at least for five years, and persuade employees to increase their pension contributions.
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