There are 1196 results for "TREASURY"

HMRC 'to sell taxpayers' financial data' to third parties

Government plans to share taxpayers' data with private firms were condemned as "borderline insane" by a senior Tory MP.

Under the proposals, HM Revenue and Customs would be allowed to release anonymised information to third parties including companies, researchers and public bodies where there is a public benefit.

The new legislation would allow HMRC to release anonymised tax data to third parties Credit: PA

The Guardian reported that HMRC documents said "charging options" were being examined by officials, indicating that firms could pay to access the data. Treasury minister David Gauke is overseeing the plan, with legislation being drawn up by HMRC, the newspaper reported.

In its response to a consultation on the proposals last year, HMRC insisted the principle of "taxpayer confidentiality" would be protected under the reforms.

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Treasury: 'Unemployment falling at fastest rate in a decade'

Following the news that the unemployment rate was 6.9%, down from 7.1%, Chief Secretary to the Treasury Danny Alexander has said:

These figures are some of the strongest evidence yet that we are embedding the recovery. We have record numbers in work and unemployment falling at the fastest rate in over a decade.

– Chief Secretary to the Treasury Danny Alexander

With earnings now rising in line with prices and employment rising, these figures reinforce the fact that the only way to higher living standards is to take the difficult decisions needed to deliver our long-term economic plan.

– Chief Secretary to the Treasury Danny Alexander

Read more: Wages rises beat inflation for first time in six years

'More sanctions' for Russia if it escalates Ukraine crisis

There is "strong and broad unity" within the G7 to support increasing sanctions on Russia if Moscow escalates the crisis in Ukraine, the U.S. Treasury Secretary has said.

U.S. Treasury Secretary Jack Lew
U.S. Treasury Secretary Jack Lew made the claim at a news conference. Credit: PA

Jack Lew said the group of the world's leading rich nations would support "increasing sanctions and costs in response to escalating action from Russia".

UK coal mining on the brink of extinction

The deep-pit coal mining industry in Britain is on the brink of extinction after the Government said there was no case for investment to keep two of the last three sites open in the long term.

Ministers have allowed a £10 million loan, alongside £10 million from the private sector, to support the "managed closure" of the mines at Kellingley in North Yorkshire and Thoresby in Nottinghamshire.

Kellingley Colliery near Castleford in 1977. Credit: PA/PA Archive/Press Association Images

The sites, to be wound down by autumn 2015, employ 1,300 people and are operated by Britain's largest coal producer UK Coal.

The Government money spares the company the prospect of immediate insolvency which would have cost the Treasury "significant losses and liabilities" from redundancies and unpaid taxes.

RBS agrees £1.5 billion payout to taxpayer

Royal Bank of Scotland was bailed out by the Government in the last recession. Credit: PA

Royal Bank of Scotland has agreed to pay £1.5 billion to the taxpayer in a bid to return to the private sector.

The state-backed lender is hoping the move will allow it to resume future dividend payouts.

RBS, which is 80 per cent owned by the Treasury, has agreed the payout so its share price rises and it can break even on its £45 billion Government bailout.

Under its deal with the Treasury, the bank was unable to make payouts to ordinary shareholders.

It has now agreed to pay £320 million this year followed by another £1.18 billion to exit the arrangement.

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Sajid Javid arrives at DCMS for new Cabinet role

The Department for Culture, Media and Sport has tweeted a picture of the new secretary of state, Sajid Javid, along with the department's Permanent Secretary, Sue Owen.

Mr Javid, who was previously Financial Secretary to the Treasury, will also become Equalities minister.

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Perm sec Sue Owen welcomes our new Secretary of State for Culture, Media and Sport @sajidjavid at DCMS HQ. http://t.co/K5t2gbSHpt

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Andrea Leadsom gets Treasury role in reshuffle

Andrea Leadsom, the new Economic Secretary to the Treasury.
Andrea Leadsom, the new Economic Secretary to the Treasury. Credit: UPPA/Photoshot

Andrea Leadsom is the new Economic Secretary to the Treasury, David Cameron has announced.

The South Northamptonshire MP came into parliament in May 2010 after a 25-year career in banking and finance. She takes the role of Nicky Morgan, who has been promoted to Financial Secretary to the Treasury.

Ms Leadsom is said to have once sworn at new boss Mr Osborne when he tried to persuade her not to vote against the Government over Europe in the early days of the Coalition - a claim that she denied at the time.

New Minister for Women criticised over gay marriage

Nicky Morgan, the new Financial Secretary to the Treasury and Minister for Women.
Nicky Morgan, the new Financial Secretary to the Treasury and Minister for Women. Credit: Dominic Lipinski/PA Wire

Nicky Morgan ministerial responsibility for women has been criticised in light of her opposition last year to the legalisation of gay marriage.

Ms Morgan voted against the measure last year, and Benjamin Cohen, publisher of gay current affairs site PinkNews, said of her appointment: "It is unfortunate that the new Minister for Women opposes the rights of some women, lesbians, to have the right to marry.

"I hope that in her new role, Nicky Morgan will represent all women regardless of the gender of the person they love."

Read: Maria Miller resigns as Culture Secretary

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