In 2013, the government deficit, according to the latest available Office for National Statistics (ONS) figures, was £92.9billion, which was 5.8% of GDP. All our major political parties are fixated on getting this deficit down by cutting expenditure and raising taxes. But should they be quite so determined to do so? Is austerity really the best way to cut the deficit?
Perhaps one of the most positive outcomes of the recent economic crisis was the message that consumers would benefit from saving more and borrowing more responsibly. So accessible were interest free loans, 105% mortgages and credit accounts that consumers came to believe they could afford anything, irrespective of their financial circumstances.
The Royal Bank of Scotland has announced it will use the Treasury's Funding For Lending scheme to boost its Manufacturing Fund. The fund, which was...
As an entrepreneur my relationship with banks is rather straightforward: I use them to achieve my business objectives. They, in turn, profit from my success. Therefore I struggle to understand why the government, as majority owner of RBS and Lloyds Banking Group, doesn't use its relationship to greater effect.